Honestly, next week at this time you are going to be cursing yourself for not doing this sooner. We've all been there!
These places really are used to people defaulting. Think of this, they claim they must charge such high fees because why? Because they say that so many people default on their loans that they have to charge so much! So even out of their own mouth they say that many people default.
They will try to tell you that you're better off rewriting the loan and then "paying it down." They probably mean rewriting it, then next time rewriting it for $50 less, and then $50 less, and so on until the loan is paid off. But really, they are conning you into paying them the fees for another 6 months! And they know that after you've taken the loan down some that they will just convince you to re up it again!
It's no way to live. It's scary, but it must be done if you ever want freedom from these companies.
Just make sure that if your bank account is still open that the checks won't go through. Because most of these places will try to put them through. _________________ Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y
What she is suggesting is that I rewrite on Fri...she will hold my check until then and not send it through. Then the following week she will set up a payment of $50 for four payments.... or $58...something. A paydown. I asked her what would happen if they sent it trough a closed account and *she did not know*.
I am letting the others simmr.
But I read on here someon is paying interest on these loans after they default? Can they do this if you work out a payment plan or are paying them?
Am I stupid or did I miss something? There is no way I can pay each of these if they tack on interest almost double the loan?
Most storefronts scare you into renewing the loan, but the biggest secret is that once you default, the fees stop! You may be charged an NSF fee or something, but no more rollover fees! You can pay down the balance from there and actually get somewhere!
Only one of my storefronts added a NSF fee to my amount owed. And that was only $6.00! The rest of them, I just paid the amount of the check.
Is the lady that wants you to rewrite at a storefront that is a member of the CFSA? If so, that might be what she is talking about. Write a new check, then invoke the EPP and make 4 equal payments to pay it off. Is that what she was saying?
I had checks come back stamped "Account Closed". Nothing horrible happened. If criminal action is prohibited in your state (and it is), don't even think that you're going to be hauled off or anything. No one hauled me off!
Forgive me for missing that. I am operating in panic/exhaustion mode right now. So once you default they cannot charge you the 300+% that they charged you on your original check....or whatever crazy amount it is?
I have in the lst 24 hours thought about bankruptcy again, debt consolidation, selling my home paying off debt and trying to buy another home....you name it.
No one should have to live like this? The sound you hear is me hitting myself on the head AGAIN.
egypt, don't beat yourself up!! Correct, once you default on your storefronts, what you owe is what you owe for the check - maybe a NSF fee added (which won't be a whole lot). They can't charge you anything else. Get your pm, egypt. I hate to see you thinking about bankruptcy.
Thanks cannr...as you know I have read your pm's...I am getting frantic calls now and will respond today with something....the bank account is closed, we are broke, I cannot pay, whatever it takes. I really have no bargaining power at all as I can only pay what I can pay and when I can pay.
I am not good at waiting and keep wishing for a windfall that is not going to come. I want this part of my life behind me. I feel like one of those who are addicted and realize they have no more money to pay for the *drugs*...but that is probably not a good analogy as I am not addicted to getting money fast...it was just a necessity at the time.
egypt, it's not your fault! I know exactly what you're trying to say. That's the bad thing about pdls. They are too tempting, too easy, too quick. I'm not saying we are "addicted" to them; however, just the thought that you can walk into a storefront and write a check and walk out with cash to pay your bills, get gas, buy groceries, etc. is sure tempting. And they sure do make it easy. I know when I was paying mine off, I did suffer. It sucked paying and not walking out with any money. Just give them money - walk out empty handed. Didn't have any extra money for anything. Hell, I was doing good to get gas! But, I swear, I was one determined b*tch! I kept at it and now they are DONE! And now I can put gas in my car or go to Walmart and buy a few extras. I thank God that I suffered for a few months to get them paid because I can really tell a difference now. You will suffer for a bit, but then you'll see that you have money in your pocket again!
Cannr is right. It is so worth the few months of suffering to be able to say you are done with these loans! _________________ Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y
Sigh:::::::: Yes, it has to be better. Makes me literally ill to have gone to the extreme I have and just watch half of my paycheck go out of my hands in fees every other week? They just smile and call me nice names and take my money until there is a problem, then it reverts to how I am NOT paying them their money....you know?
I had to run to the market down the road...when I pulled out of the drive I saw the Sheriff's car pull in drive up the road and turn around...I broke out in a cold sweat figuring he must be coming after me for one debt or another. I came back home and asked my husband if the sheriff had been there and he said no.
Paranoia?
Oh, egypt! My heart is breaking! Yes, paranoia! However, I can't say a damn word. I was the MOST paranoid person on the face of the earth! I thought my butt was going to be hauled off to jail! Do not be afraid. I know, easier said than done. However, I did it, too. And it sucked! Please try to relax just a little. I totally understand, but you're going to stress yourself out!
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