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 Posted: Fri Apr 06, 2007 10:19 am Subject: I am unable to pay |
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I am unable to pay my Cash America payday loan (in Texas). I have one charge already to my bank for a returned fee. Should I close the bank account?I can not pay since I had lost my job and am not working full time like I had been. I have contacted the company via email about paying 25.00 every two weeks? Is there anything else I can do? What legal actions can be taken in Texas?
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ldamon2000
Joined: 06 Apr 2007
Posts: 2
Debtcc Points: 64
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| Posted: Fri Apr 06, 2007 10:59 am Subject: |
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Have you talked to your bank about closing the account? I believe they will want you to pay their fees before closing it.
How much is the loan for?
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Howard
Joined: 30 Oct 2006
Posts: 312
Debtcc Points: 4766
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| Posted: Fri Apr 06, 2007 11:03 am Subject: |
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Be careful...since storefront pdls almost always follow the payday lending laws in the state they are located, they can take whatever action is allowed by your state for writing a bad check and then closing the acct, if this is applicable. Look up the bad check laws for your state to see what it says before you do anything with your acct.
Also, call the lender or go to the store in person to discuss a payment arrangement, as payment arrangement emails are easily ignored.
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Tiffany99
Debt Samaritan
Joined: 15 Jun 2006
Posts: 1064
Debtcc Points: 19133
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| Posted: Fri Apr 06, 2007 11:17 am Subject: |
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The loan was for 591.00. Every two weeks payment was about 108.00. I had talked to the bank about closing the account due to emails I had been receiving. There may be the possiblity that from paypay my account information may have gotten out. After that, this week is when I am not hit with the payday loan mess. I will check the bad check laws in Texas.Thanks for any help
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ldamon2000
Joined: 06 Apr 2007
Posts: 2
Debtcc Points: 64
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| Posted: Fri Apr 06, 2007 12:48 pm Subject: |
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The most that can happen for not being able to pay the debt is the company will try to sue and get a judgment against you. Before they are able to do this, they must be a legit business listed with the DFI of your state.
Did you get any reply from Cash America after sending the proposal? It will be good if you can send some money along with your proposal. Things look different when they have the check in hand.
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a_neblat
Joined: 10 Aug 2006
Posts: 408
Debtcc Points: 5814
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