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 Posted: Mon Jan 14, 2008 12:14 pm Subject: Payday Loan Trouble
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I have taken out a few payday loans (the vicious cycle). Do I need to close my bank account to get out of this trouble? If I do, what can they do to me?
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luvdolf
Joined: 14 Jan 2008
Posts: 12
Debtcc Points: 575
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Posted: Mon Jan 14, 2008 12:21 pm Subject:
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Hi Luv, I just posted asking for help too. I think you need to tell if you have storefront or online loans, what state you live in and the dollar amounts of the loans plus what you have paid so far.
Good Luck.... It's bitter sweet but I am happy to know I am not the only one who fell victim to these bloodsuckers..
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tiffer0220
Joined: 14 Jan 2008
Posts: 89
Debtcc Points: 1422
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Posted: Mon Jan 14, 2008 12:26 pm Subject:
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I will have to look them up. I have 6 internet and one storefront. I am in Florida.
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luvdolf
Joined: 14 Jan 2008
Posts: 12
Debtcc Points: 575
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Posted: Mon Jan 14, 2008 12:45 pm Subject:
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Our member Frogpatch is in Florida and can help once you post all of your info.
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volleyballmom
Debt Samaritan
Joined: 27 Aug 2007
Posts: 4178
Debtcc Points: 24895
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Posted: Mon Jan 14, 2008 6:42 pm Subject:
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Tiffer I am glad that I found this website a few months ago. I come here everyday to read about others and it helps me to stay the heck away from these scumbag payday thieves. The people here are so wonderful. You are right, it is great to know that we are not alone in this mess.
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stargzr
Joined: 26 Nov 2007
Posts: 270
Debtcc Points: 2690
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Posted: Mon Jan 14, 2008 9:10 pm Subject:
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luv,
Please read the post about closing your bank account before you do close it.
Now for your storefront, you need to contact them asap and let them know your situation and depending on who it is through they may have an EPP (extended payment plan) which they will break down your amount into 4 different payments, but it needs to be paid in (I can't remember) like 120 days. But they like to set up the payments on your due dates. So if you are due this Friday then you need to go in there on Thurs, sign the agreement then your first payment won't be until 2 weeks from then. And then every 2 weeks after that until it is paid in full. But if you can go on this plan you cannot miss any of the payments because they will deposit your check and slap you with extra fees then. So with the EPP they stop all interest and don't charge you any extra fees. So it is something to look into. But this one (so far) is legal and they can and will take you to court to get their money.
Please post the rest so we can figure out if any of those are legal or not.
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puddlejmpr
Debt Samaritan
Joined: 15 Dec 2006
Posts: 1255
Debtcc Points: 3037
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