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 Posted: Tue Jun 26, 2007 12:00 pm Subject: Please help.... someone... please... |
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Someone please help me...
After being a young professional for 2 years, I was landed right on my bottom to being nothing over night, and looking for a solution I got a pay day loan. Well, 1 loan has turned to 3 loans now, all which are store front. Those companys are
First American Cash Advance --- $200
Check$mart --- $400
Advnace America --- $400
I can't afford any of these anymore... I'm seriously losing it mentally at this point and I just don't know how to get out of this trap... I can afford to pay them back $50-$75 every 2 weeks.... And I'm borrowing from one to pay the other...
Someone please tell me what I should do... I've heard horror stories that Checksmart is going to give me hell... My WORST fear is that they will call all my references and tell them that I borrowed money or something...
Also, I've heard many people say that they have to accept payment arrangements but I don't know where that information is coming from since Ohio laws aren't specific on that, as well as the fact that CAPSA or whatever it's called doesn't require payment arrangements to be made until 07/01/07.
I don't think I've ever had so many panic attacks in one week...
Someone please help...
Nate
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MosaicNate
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| Posted: Tue Jun 26, 2007 12:16 pm Subject: |
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Call them and try to make arrangements. Explain your situation and they may work with you. Do they debit your account or hold post dated checks?
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frogpatch
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| Posted: Tue Jun 26, 2007 12:22 pm Subject: |
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They hold my checs
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MosaicNate
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| Posted: Tue Jun 26, 2007 12:31 pm Subject: |
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Since they are storefront lenders, they may take you to the court and try to garnish your wages. Try every way to stop this from happening! Draft your payment proposal and send your first payment along with the letter. If they cash the check, you will understand that they are willing to work with you.
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Trenity
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| Posted: Tue Jun 26, 2007 12:36 pm Subject: |
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I know with Advance America, once you miss payment they will send through the check. Once the check comes back to them as nsf, they will allow you to set up payment arrangements. Best part is you will no longer be paying the outrageous fees every couple weeks. You will be able to pay down your balance, instead of just interest.
The best thing to do with storefronts is keep up communication. As long as they are in contact with you, and recieving something for payment, they will not be likley to sue you.
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goudah2424
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