consolidation of payday loans

iguana, you are soooo on the road to recovery! You're doing great! There is light! I promise you! And I'm glad we could at least be here to support you! And, remember, we are always here! If you need anything or have any questions or run into any problems, you know where to come!

Spoke with my Langhorne representative and was happily informed that my ThinkCash and First Bank of Delaware accounts can be included right along with the online loans in my settlement, which is WONDERFUL news. It will raise my monthly amount with Langhorne, but I can thankfully still afford it.

I will have to go to the storefronts and deal with them directly, so I have my work cut out for me over the next couple evenings. I'll continue to pay on two of them for now, as they aren't part of the CFSA, but I will pay them down as quickly as possible.

The pending check for the grocery store went through last night, so my old, tainted checking account is now closed and no longer showing up in my online banking list at all. My new checking account is up and healthy.

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To do list:
Get power of attorney notarized
Fax and mail power of attorney to Langhorne
Go to storefronts and make payment arrangements

God, I love you, iguana! When you're on a mission, you go straight for it! I'm so happy to hear that Langhorne is going to work with you on your installments loans! I was worried about that! You are awesome!

Well, the way I look at it is that I don't have much time to spare. I don't want these vultures contacting my references (I don't need my mother hearing from some payday loan vulture that her daughter is a deadbeat or anything like that) and I want to get out from under this as fast as I can. I have most of my storefront loans due on Friday and I want to get to them before they try to deposit the checks and find that my account has been closed.

It'll be tough financially, but it can't be any worse than what I was already going through.

iguana, you're right. It'll be "tight", but in the long run, you'll see how much better you are! No more sucking your paycheck out every payday! You're going to do it. I know you are. And then you'll look back one day and say "Damn, I came a long way!"

You're a great cheerleader.

I read your messages and picture your little dachshund talking to me and telling me that everything will be ok. :P


I also just remembered something that I keep forgetting! Starting with this paycheck or next, my yearly 50 cent raise kicks in, so that's an extra $80/month!

I love being your cheerleader! And, listen to my dog! LOL! Congratulations on your raise! Now you'll actually get to see that $80 a month! Yes!

T&C is working with my store front pdl's. I have three of them, but the only one who has been calling is ACE Cash Express.

Hmm... well, if I come across any hassle from them, I'll certainly have to have a chat with T&C then, I suppose.

If you have a company working for you regarding your pdls and the pdls are calling you, just refer them on to the company that is working for you. If you're paying for someone to deal with these pdls, they should deal with them. Not you.

Going after the storefronts today, at least as many as I can hit...

Typed up a letter for them, please give me your thoughts!


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Dear Manager,

Due to dire financial circumstances, I am requesting your assistance and understanding in setting up an extended payment plan for my loan. Currently, I owe your company $300; $255 in loan principal and $45 in fees. I understand and confirm this as being a debt owed and would like to make every effort to pay you in the most timely manner that I am financially able to provide.

I have separated my payments into 5 monthly payments, beginning in November 2007 and ceasing once the loan is fully paid in March 2008.

11/16/2007 - $50
12/14/2007 - $50
1/11/2008 - $50
2/8/2008 - $70
3/7/2008 - $80

I believe these to be mutually agreeable terms and will make my payments per the above deadlines.

I appreciate your understanding and cooperation in this matter and thank you for assisting me to get back on my feet financially.

Thank you,
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Naturally, the amounts and dates change for each place, but under this plan, all would be paid off within 5 months.

iguana, I like your letter. You're stating that you acknowledge the debt, that you are very willing to pay in full, and you are offering a repayment plan. However, do not be surprised if they don't like your payment plan. I'm not saying this to scare you or anything, but most places will want more than one payment a month. Now, I can't say that they won't go for it. If they do, wonderful! However, just don't be surprised if they say they want payment every two weeks or whatever. Most storefronts don't want to drag it out for months. A lot will ask for more "up front" and then payments. It just depends on the storefront and on the manager. I say give it a shot and see what their response is. If they want more, don't be surprised. It's just typical. Let me know how they respond to it.

Oh, I know. I went in there with the assumption that I would get turned down left and right, which is exactly what happened.

I was calm and courteous with every single one and they were calm and courteous back, offering their advice on the situation. The best part is that I was able to sneak my letter into my file at all of the places but one, so there is written record that I made the attempt to set up payment.

So, in order...

Advance Til Payday - Manager was not on duty and I was informed by the employee that they typically require half down and then I could make arrangements on the rest. I told her I could not do that and asked if there was any other way. She didn't know, so she had me write a small note for the manager and put my check, letter and file together so that the manager will call me tomorrow. Will likely have to default, but we'll see... the manager is REALLY nice there.

California Check Cashing - Manager was busy, but I was able to speak to an assistant manager. Their CFSA plan only allows for 4 payments, but was malleable enough for me to put the first 4 of my 5 dates in and make the payments out as $50,$50,$50, and $150. We will see how things go and if I end up eventually having to default at the final payment, I will at least have given them the majority ($220 with the 4th payment set at my $70) of what I owe them.

Advance America - Manager was not on duty and employee, while very nice and helpful, was unable to do any sort of payment arrangements outside of $75 every two weeks for four payments. She asked me to write a note to attach to my letter, she placed my check with it and the manager should be calling me tomorrow. Will likely have to default on this one.

Cash 1 - Spoke with the district manager and she was unable to help me beyond the same $75 every 2 weeks for 4 payments. She put a note in my file that I came in with the letter, accepted the letter to place with my check, and said she would try her hardest to keep my account situation within the branch, rather than corporate. Defaulting this one...

Ace Cash Express - This one isn't due until next Friday, but I figured I would get as many as possible at once. They follow the same $75 every 2 weeks for 4 payments deal, so I will eventually have to default on this one as well. They placed my letter with my file and gave me the collections phone number.

Money Mart - Spoke with Manager, but again, same $75 every 2 weeks for 4 payments routine. They accepted my letter and gave me the collections phone number, but I will have to default.

Allied Cash Advance - Probably the nicest place I went to and the last for today. I called and spoke with the branch manager while stuck in traffic on my way over to the branch. She called and asked the branch manager what we could do, but she was limited to the same $75 every 2 weeks for 4 payments. She did, however, say that she would try her best to keep my check in the branch for as long as possible and would then keep my collection at the branch as long as possible and instructed me to come back on 11/16 with my first payment. She denied the letter, stating that if she took it, it would denote acceptance of my terms, which she can't do. She said, though, that she will put a big huge note in my file and will work with me as much as she can!

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I was unable to get to my last storefront, but I'm not due until Sunday and it's a small, hole in the wall, run by a single owner/operator.

I feel exhausted, but my mind is at ease. Tomorrow is D-Day... I default on virtually everything tomorrow.

Off to enjoy a dinner made by my boyfriend (he knew I was having a rough day!)

iguana, good job, honey! You made every effort that you could. You went to each store and communicated your efforts. I kind of figured they would want more, but you gave it a shot. And you did a damn good job going to all those places and speaking with everyone. You just do what you can do. If you can pay them, then pay them. If you can't, I guess you'll just have to default. I mean, if you can't pay, you can't pay. Sorry. But they can not claim that you did not make an effort. And they can not claim you did not contact them. You actually did great. Now just one more to deal with. Maybe this one will be more willing to work with you. I'm actually very proud of you. It takes guts to go to these storefronts and confront the managers. You did great. You did your part. Now we'll just see what happens. You can only do so much. You're doing wonderful though, iguana. I do hope you enjoy your dinner your wonderful boyfriend made. You just hang in there and try to do what you can. You've done as much as you can for now. And that's great!

Yay! The doggie says that everything will be ok!

Damn straight! Listen to the dachshund!