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Posted: Sat Jan 26, 2008 10:21 am Subject: Defaulted on storefront

I took out a storefront loan (in KY) at Check into Cash last March. I paid it back and renewed it over a period of 4 months. My husband lost his job and that $75 became to much to pay every two weeks. I ended up defaulting on it. (Little did I know that I could have gotten a payment plan!) Anyway, they called a lot and tried to get me to borrow money from someone and told me to come in and pay and get a lower amount out, etc. I told them I couldn't afford it.
So here I am, several months later. I haven't been contacted by them for a long time--until this morning. I got a call from an 866 number with a message to call the person back. I looked up the number and it is Check into Cash, corporate I suppose. Should I call back and try to get this taken care of, or should I let it go until I get something in the mail? I don't want to stir anything up. Confused

Posted: Sat Jan 26, 2008 10:32 am Subject:

call them up and see what they have to say. maybe its a settlement offer...but if it isnt, you know the drill.

Posted: Sat Jan 26, 2008 10:46 am Subject:

Don't ignore it do as volley says and call them up..they will more than likely work with you then if you ignore it that wouldn't be good because they can and will sue...

Posted: Sat Jan 26, 2008 12:59 pm Subject:

Whew! I called them back and they were surprisingly nice. They're letting me make small payments. Good advice, volley!

Posted: Sat Jan 26, 2008 1:30 pm Subject:

That is great news cdollar!! What a refreshing surprise. Its always hard to tell what to expect sometimes.

Posted: Sat Jan 26, 2008 3:38 pm Subject:

Good for you...I bet that takes a load off of your mind..just remember if you have any problems in making payments to them let them know before hand that is what I did and everything worked out great.

Posted: Sat Jan 26, 2008 4:48 pm Subject:

I was honestly really surprised. Corporate was so much nicer than the store employees. They said I could make tiny payments until it was paid off. It just makes me feel so much better.

Posted: Mon Jan 28, 2008 6:10 am Subject:

Great going Cdollar. I am glad that this worked out well for you.

Posted: Mon Jan 28, 2008 6:59 am Subject:

Just a note..I noticed recently that these storefront PDL's have been advertising (lately) alot on TV. Trying to sound so nice and advising you to read the contracts and notice the percentage rates charged before taking out a loan. I guess their PR people are working hard at improving their images. The only good thing I saw was the advice not to take out a loan unless you are SURE you can pay it back on your next payday. As for me...I plan on never taking out a payday loan...I will find another way to get the funds I need.

Posted: Mon Jan 28, 2008 11:18 am Subject:

I see those commercials in Ca almost every 30minutes on some channels. It is getting really nauseating! They look all nice and goody goody. Far from what they really are. I hope they are feeling the heat and will eventually go away for good. We all managed to survive before they came along and I am sure we will survive when they go away.