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Debtconsolidationcare.com - the USA consumer forum

Either a roof over head or loan payments

Date: Thu, 06/14/2007 - 16:07

Submitted by anonymous
on Thu, 06/14/2007 - 16:07

Posts: 202330 Credits: [Donate]

Total Replies: 5


After seaerching the internet, I stumbled upon this site. After reading a few posts, I see that many people too have been in my ugly, never-ending situation. I need advice. Back in January, I lost my pregnancy at 6 months and became very ill, thus taking a lot of time off work. To make ends meet, I got 2 payday loans. Then 3 more. I live in California, and I have a total of 5 storefront payday loans out at the following companies:
Cash 1 ($255 + $45 fees) = $300 X 8 renewals
ACE ($255 + $45 fees) = $300 X 8 renewals
Advance America ($255 + $45 fees) = $300 X 8 renewals
CA Budget Finance ($255+$45 fees)= $300 X 8 renewals
Money Mart ($255 + $45 fees) = $300 X 8 renewals =

Well, I am unable to pay again because my landlord servred eviction papers to pay rent within 3 days, so its either a roof over my head, or these loan payments. I chose to keep my apt. Now, I'm extremely nervous as to what is to come on these payday loans. I stopped payment on the checks because I cannot afford to have this money taking out of my account with the situation I'm in. Can someone please advise me as to what i should do? Should I close my account and contact the companies to make payment arrangements?

Please, I have been through so much since January, if someone can provide a light at the end of my tunnel, and give me any info., I would greatly appreciate it. Thanks so much for reading.


Here are the laws for California(just select your state),

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

It doesn't seem like rollovers are allowed so I'm not sure how they are getting away with that. It seems that there is no criminal action in your state and payment arrangements can be made. I would recommend closing your account because you need to keep a roof over your head. I would then contact the storefront lenders and make payment arrangements with them. You may also want to contact your state's AG's office if they are actually charing you rollover fees.


lrhall41

Submitted by Cow & Chicken on Thu, 06/14/2007 - 18:26

( Posts: 3571 | Credits: )


Definately close your account if you can and get a new one. I have dealt with Advance America and Cash One and can tell you from personal experience that they will try and debit your account for different amounts as they did me. So either put a block on all debits from these companies or close your account.


lrhall41

Submitted by kscornell on Fri, 06/15/2007 - 04:59

( Posts: 4407 | Credits: )