Internet's first get-out-of-debt community - 123,000 members

Tracey McGilvray

I made a huge mistake and got several payday loans. Some I have paid off and others I am struggling to pay off. What can they do to me if I can not pay the full amount each month that they insist on?

Posted: Fri Feb 24, 2006 11:05 am Subject:

First change your checking account information. Close the one you have and open a new one. At one point I had 13 loans, and I'm down to 6. I'm taking one at a time and paying them off and then going to the next one. It's been 8 months since i've closed my account and I don't answer the phone (caller id is wonderful). They haven't "done" anything to me besides call.

Posted: Fri Feb 24, 2006 12:19 pm Subject:

Just sharing my thought here. Usually, the lenders don't take any legal actions unless the debt amount is huge. Besides, they won't run after one person knowing all the court costs involved in it. The lenders are doing business and they have lots of other consumers' files. You and I are just a blip to them.

I was discussing this issue with our member who is a lawyer in Virginia. Have a look at this thread.

http://www.debtconsolidationcare.com/forums/after-defaulting.html

Posted: Fri Feb 24, 2006 1:33 pm Subject:

My debt to each one of the payday loans are only $250- $500. I have paid several off. I have already closed my acct. The thread you sent me to was very informative. Thanks a bunch!!!

Posted: Fri Feb 24, 2006 1:34 pm Subject:

Just wondering how the donate link get's under your DebtCC points?

Posted: Fri Feb 24, 2006 2:42 pm Subject:

Hi tmcgilvray

Welcome to the forums.

After you log in the forums, you won't be viewing the donate button in your posts. Same thing applies to other users as well. But, if you want to donate your points to other member, you can do so by clicking on his/her donate button and others can make donations to you from their log in. Simply speaking, the user can't donate the points to himself and that is the reason, we don't see our donate buttons in our log ins.

Hope, I have cleared your query. Do keep in touch with us.

Regards
Mike

Posted: Fri Feb 24, 2006 2:56 pm Subject:

Thanks you did clear up my question.

Posted: Fri Feb 24, 2006 3:07 pm Subject:

Hi tmcgilvray

You are welcome Very Happy

. We will appreciate your active participation with the community and sharing your experiences. Hope you will make use of our other forum services.

Regards,
Mike

Posted: Fri Feb 24, 2006 3:22 pm Subject:

I definitely will. This forum has beena God Send been trying to find answers for a while now. Will be looking over everything at this site.

Posted: Fri Feb 24, 2006 4:12 pm Subject:

I agree. Those who visit this forum regularly know how much it helps to the new visitors in getting the information. The members here offer suggestions to everyone on an individual scale. When someone shares his experience here, it is helping many others. This really makes this board interactive and helpful.

Posted: Sun Feb 26, 2006 10:03 am Subject:

When I found this board, just reading that others had the same difficulty I did made me feel much, much better. the people here are friendly and very helpful, and knowing that we are all in the same boat makes it so enjoyable (not that we are all in trouble, just that we have common issues!)

The main thing for me was to RELAX. I tend to get worked up over everything...so I try to fall back on my fathers sage wisdom he gave me years ago...

"Son, if it ain't gonna kill you, why get worked up about it!"

Posted: Sun Feb 26, 2006 12:10 pm Subject:

I have another question...I have one payday loan that I got here locally and the company did not hold the check like they were suppose to and of course it bounced. I have been making payments on it to get it paid off. Can they still file criminal charges against for a bad check if they choose to even though I have paid some on it and am trying to pay it off?

Posted: Sun Feb 26, 2006 12:17 pm Subject:

Tracey

The banks do not like you writing post dated checks to begin with. You're paying for something that you don't have. All payday loans are unsecured debt. Banks usually cash post dated checks early if presented to them, therefore you will have to debate with the local company. It's kind of a toss up. If you speak with one of their managers, they might be willing to deduct any NSF fees you incured with your bank. But to answer your question, no; they cannot file criminal charges against you. They may try to take you to small claims to recover your money, but that is as far as they'll go.

Regards
Mike

Guest · Posted: Sun Feb 26, 2006 1:12 pm Subject:

Thanks Mikey that makes me feel alot better

Posted: Sun Feb 26, 2006 1:16 pm Subject:

Tracey

I'd also like to point out that you should start logging in when you post to the forums. For each post, you'll earn points; which you can in turn cash in later.

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