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Posted: Mon Aug 18, 2008 6:17 pm Subject: Texas PDL HELL!

I am in some big trouble. I have three pay day loans to the tune of $900 in service fees a month and I can no longer afford to keep paying them. My only option is to close my checking account and let the defaulted loans go on my credit report. A friend of mine told me he had to do the same thing a few years back. I am stuck in the constant circle of payday loan hell. Over the past 3 months I have shelled out over $2700 in service fees alone. I really need some advice on this issue. Thank you for time.

Cash Advance-Principal-$650-Service fee-$150
EZLoans-Principal-$650-Service fee-$150
Ace Advance-Principal (same as the others)

I am now behind in my rent due to the payment on these loans and do can not keep up with them.

Can they get me for fraud since I have been making payments and my accounts are currently in good standing?

Posted: Mon Aug 18, 2008 8:48 pm Subject:

I don't know about the fraud part---someone else will have to take that one. But, IMHO, if you are behind in your rent then you have to take some drastic type measures and let the chips fall where they may. Sometimes you have to do yucky things like this and learn from the experience.

Yes, you probably should close your account associated with these PDLs. Open another one and don't give the info to the PDLs. You can make arrangements to pay them off after you have closed your account.

You can read through the diffrerent forums for further information on dealing with the PDLs. Good Luck!

Posted: Mon Aug 18, 2008 8:58 pm Subject:

Before closing your account due to the pdl's make sure you read the thread "closing your account due to pdl's" so you know what to expect.

I see that you are in Texas there are members on here from Texas and will be able to assist you. Questions is are these store front pdl's, internets or both? That will help us to help you. If they are a member of the CFSA you can envoke the EPP (extended payment plan) for I think it is four payments which more than likely if they operating legally in your state they are this will make it easier on you.

Please provide the answers to my question and we can go from there.