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Posted: Tue Mar 13, 2007 3:34 pm Subject: How do I get started?

I am in missouri. If I close my checking account they can bring criminal charges against me........they will take all my paychecks and I will not be able to pay any of my regular bills...I need someone to give me some suggestions on what to do. PLEASE

dave2468 · Posted: Tue Mar 13, 2007 3:37 pm Subject:

Can you explain your situation? Who is THEY ? We will be happy to help but we don`t even know what your problem is

Posted: Tue Mar 13, 2007 3:40 pm Subject:

Welcome to the Forums Very Happy

Here is a link to some info on payday loans, if that is what you are talking abou, at http://www.paydayloaninfo.org/index.cfm Read what they can and cannot do before you get too panicked.If you have any other questions, please ask. A credit counselor will contact you since you are registered, and will discuss options you may have concerning your debt, such as consolidation. Good Luck..KAren

Posted: Tue Mar 13, 2007 3:42 pm Subject:

Becareful thinking about closing that checking account. Here is the Missouri state law,
Quote:

Posted: Tue Mar 13, 2007 8:41 pm Subject:

Wow!!! Missouri definately needs to revisit this law. I'm not sure of other states but this looks very attractive if I wanted to start a PayDay Loan company. Damn, this needs to change...

Posted: Wed Mar 14, 2007 3:50 am Subject:

Yeah, just ran across it trying to help out desperate. I was amazed, those laws suck for the consumer, unbelieveable, no consumer protection at all. I can't imagine what a traffic ticket would get you there, probably life in prison, LOL! No really, this is unreal and they are supposed to be the "Show Me State" show me what, how to get screwed? I feel for you desperate.

Posted: Wed Mar 14, 2007 7:56 am Subject:

Sure glad I am in NC!

Posted: Thu Mar 15, 2007 3:49 am Subject:

You can still call these pdls and see if you can work out a different payment arrangement with them, maybe they will. See if they will let you, close the accounts and pay on principal. Since you can not close or stop payment on the account without consequences, is it possible to open another account at another bank and have your direct deposit go there. THIS IS TERRIBLE ADVISE, but I don't see any other altenative. It will cause the pdls to bounce and cause you fees, once they are in default they will work with you then and you can start paying them off. At least with another account at another bank you will be able to pay your bills that you need to pay to live. I really don't know what else to tell you and god knows I really hated to post that but what other choice do you have at this point with your law being the way it is. Have you contacted any place to try and get a consolidation loan? Then you would have one smaller payment? Do you have descent enough credit to do that, even if the intrest was a little high, you would still be better off.