i have 3 payday loans of 600 each I have been paying on them for 1 year 400 per month of interest. I cant see to ever have money to pay them off. what happens if i dont pay them and then just start making payments? Will I go to jail? I live in Houston TX

[polly]

Are they internet based lenders or a store front lender where you used a check to get the loan?

I have one with Advance America, one with a checking cash place called Ace and the third i dont know the name off hand. I just wish I could pay them in payments instead of 400 a month and I never finish. Because of this I am now following behind on other payments any advice I thank you

[polly]

http://www.occc.state.tx.us/pages/Le.../reg/subf.html

[Gretchin]

Hi Denise,

I understand your situation. Don't fall behind in your utility payments, rent, food etc. You need to talk to your lenders and make them aware about your financial problems. Arrange some payment plans and stick to it. If you are unable to do it on your own, talk to a debt counselor for taking care of these accounts. He will negotiate with your lenders favorable for you. You can do a free sign up in this website and talk to a consultant for help.

[polly]

http://info.sos.state.tx.us/pls/pub/readtac$ext.TacPage?sl=R&app=9&p_dir=&p_rloc=&p_tl oc=&p_ploc=&pg=1&p_tac=&ti=7&pt=1&ch=1&rl=605

[polly]

So, no you won't go to jail. I guess just ask them if you can set up a payment arrangement.

I will do so. As a matter of fact I will do that Monday afternoon. Should I notify my bank that there will be a total of 3 returned checks? I am so thankful that I was on the net and I came across the web sight.

[polly]

They may not cash your checks. You will have to wait and see what they will work out with you.

[andyyoung]

If you can explain the situation to your bank, they will be cautious before the checks get returned. Don't tense yourself over going to the jail. Legally, this is not possible. If the debt is legitimate, the company will try to file a case against you and recover the money through garnishment. It must be governed under the state laws. Try to talk to your lenders and assure your payments if some extensions can be arranged.

[Lorri]

Denise---Can you stop payment on your checks or automatic debits or withdrawals?

[crystalmoon1570@yahoo.com]

Good question, Lorri. I'm also in the same boat as Denise. My payday loans in Louisiana and Mississippi total 6 at $300 each. It seems as though I will never pay them off. My fees are totaling $400 month. One company is threatening to take my check to the DA if I don't pay 75% of the loan within 10 days. Now, once I have a total of $500 worth of checks turned in to the DA's office, can't I be jailed? Does anyone know anything about this? This one payday loan in particular is in Louisiana.

My experience is the store front lenders will take you to small claims court. Internet lenders don't bother. I was able to set up payment arrangements with Advance America and ACE. They seem to be everywhere don't they. They want to work with you; they look bad when you default. If you can close your account and open another, do so. They cannot take you to jail. This is not fraud. Best of luck.

[polly]

Crystal, which state do you live in? What companies are you dealng with?

This information has been helpful Thanks guys!

I had a debit returned for an edollars direct payday loan. I got a call today telling me they are filing felony charges for theft by check and I must pay it in full or the charges will be sent to my county. Can they do that. Is it a felony not to be able to afford it.