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 Posted: Wed Feb 15, 2006 9:40 am Subject: Local Payday loan companies |
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I am in the process of enrolling with T&C to consolidate my Payday loans, however I do have some local that I want to include. Will they work with them? Most of these companies have a personal check of mine that they could just take to the bank and get a cahiers check at any time. How do I handle a situation like that?
Also one of the companies reported me to Teletrack - will consolidating get that deleted?
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nicole
Joined: 09 Feb 2006
Posts: 46
Debtcc Points: 2203
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| Posted: Wed Feb 15, 2006 10:07 am Subject: |
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Nicole,
Was the check postdated or written for the day you took the loan with the lender? This can be a whole different ball game. I would talk to your counselor at T & C to see how to proceed with this. Also, you might want to call the lenders themselves to let them know your situation.
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CowampChicken
Joined: 20 Dec 2005
Posts: 3681
Debtcc Points: 36192
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| Posted: Wed Feb 15, 2006 10:09 am Subject: |
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Nicole, every company has their own business policies. It will be better if you can call T&C and make a proposal. If the local payday loan company in your area has a good reputation in the market, T&C might consider including it in the program. But you have to inquire about this matter with them first.
Payday loan companies report the consumer accounts to the Teletrack. These negative remarks might hurt you in case if you want to take a new loan from another payday loan company. Take a consolidation program and pay off all your debts. Although the negative remarks won't disappear from the system instantly, but your lenders will report that you have paid the accounts in full.
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curlycarl
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Joined: 21 Jan 2005
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| Posted: Wed Feb 15, 2006 10:09 am Subject: |
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The checks are dated for the date they were written, but what they do is take the check to my bank and get an official cashier's check - they have done this to me before...
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nicole
Joined: 09 Feb 2006
Posts: 46
Debtcc Points: 2203
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| Posted: Wed Feb 15, 2006 11:33 am Subject: |
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Have you notified your bank about this cashier's check issue? The bank can get each of the items verified by the company and see if they have been posted accurately.
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david
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Joined: 04 Jan 2006
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| Posted: Wed Feb 15, 2006 12:59 pm Subject: |
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If I were you I would close the account the checks are written off and open a new one, that's what we did and most of the locals have been good to work with. That would save you the worry.
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CycloneFan
Joined: 05 Dec 2005
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