Payday Loan help in South Carolina
Date: Thu, 11/08/2007 - 12:36
I have five pay day loans w/ internet based companies.
MyCashNow 600 pd 528.20
Americash 700 pd 270.00
Little loan shoppe 200 pd 180
The BMG group 250 pd 225
NetCashUSA 450 pd 135
I have to pay the interest again in a week on these loans and if I do I will be unable to pay my rent. My husband has just lost his job and is unable to help me with these debts.
I have a bank account with Bank of America. Should I close or change account numbers or open a new account with a different bank?
Could ya'll offer me any advice about how to proceed please?
I am so sorry to hear about your husbands job. The only way to g
I am so sorry to hear about your husbands job. The only way to get this situation under control is to close your account or have the bank put it on deposit only status. Check with the bank to be sure that they will not force open your accout if an ACH withdrawal hits. I think I have read wher South Carolina has recently passed new laws rgarding Pay day loans but I an not sure. Someone here will prvide that info for you. You will have to repay what you borrowed but on terms that are feasable. You rent and utilities and food etc. come first.
Very often a job loss, as painful as it may be, can become an av
Very often a job loss, as painful as it may be, can become an avenue for new beginnings. Much soul searching can be done. Many states offer free education programs for the jobless. Been down that road a few times and know the roller coaster emotions too well. It will work out!
If I am not mistaken PDLs are illegal in South Carolina. If so,
If I am not mistaken PDLs are illegal in South Carolina. If so, just pay the principal.
You will find the Payday loan laws South Carolina here (just sel
You will find the Payday loan laws South Carolina here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html
Thanks!
Thanks for all of your help and encouragement!
I have opened a new account at a different bank and I am in the process of putting a deposit only on my checking account with Bank of America. I have to go into the bank tomorrow morning to sign the form. Friday is when my paycheck will be deposited. I just hope everything works out or I won't have the money to pay our rent! This is really stressful .... but it helps to read about others in the same situation and how it worked out for them.
What do I do next? Do I send letters to these payday loan companies and what do I need to say?
mm, When you go into the bank in the morning, ensure that nothi
mm, When you go into the bank in the morning, ensure that nothing will go through your old account and that no matter what it will remain on deposit only status. As for the letter, there is a sample letter on this thread,
http://www.debtconsolidationcare.com/paydayloan/about38349.html
You send this letter to each pdl. You want to mail it USPS certified return receipt and you can also e-mail and fax it.
