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Posted: Fri Nov 02, 2007 10:10 pm Subject: Default on PA pdl for CashNet USA

took out a pdl from Cash Net USA. Loan was due on 10/10/2007 which I could not cover and got overdrafted with a fee of 20.00. They debited my account again in 2 payments on 10/25/2007 so therefore I had overdraft fees of 40.00. Called to set up payment arrangements and they said they could do 2 payments of 596.74 which I can not do at this time due to my son's medical condition. They told me to stop payment on the debit that they have scheduled for 11/09/2007 and let them know, but is that going to make me look like I do not want to fulfill the obligation of the original 900.00 loan and what will they do then. I live in PA just in case you needed to know.

I need your advice. Please help.

Posted: Sat Nov 03, 2007 10:04 pm Subject:

I am new at this, but here's my opinion:

If you can't afford the two payments of $596.74, you can't afford them and that's that. They will have to accept what you can pay. If you are in a position to close your current checking account, you should. Then they can't try to take any more money from you, and you won't be charged any more overdraft fees. If you take away their source, they will have to work with you if they want to get their money.

Don't worry, one of the more experienced members will come along shortly and will be able to post the laws in your state and offer their advice. Hang in there DMas557. You're not alone! Smile

Posted: Sun Nov 04, 2007 4:17 am Subject:

Hi DMas...I am trying to remember...I believe in PA if they are licensed by any state they are legal. You will have to look at your contract to see if they are licensed anywhere first and then they must abide by that state law.
Sometimes they will not work out payments arranegements until you default...