What can I expect?
Date: Wed, 11/28/2007 - 12:20
I currently have 10 outstanding store front loans and have been able to set up EPP with 6 of them. This leaves me very little money for the next month, but I'll be glad to get rid of them. Of the remaining 4, 3 are due this Friday, they are not CFSA members and I have no money to repay them, so they're going to default. These three companies are First American Cash Advance, Cash Connection, and American Cash Exchange. Next Friday, the fourth loan with default with Ace Cash Express.
Once these default, what is going to happen? I am so stressed out about this, I honestly have not slept more than 2 hours in the past three days. I am really worried about them contacting my references and employer and I do not know what to expect in terms of repayment.
Sassnlucy has graciously told me of her experience with First American and I would really appreciate if anyone else has some input. Thank you.
Please contact them and try to make arrangements with them. Fort
Please contact them and try to make arrangements with them. Fortunately, they are not going to take you to civil court right away and I think they would rather get some payments in than haul you to court. Contact them BEFORE you default. They would rather you be up front with them ahead of time than to default and then want to make arrangements. :)
Thank you, Sassnlucy, I will do as you suggest. I had contempla
Thank you, Sassnlucy, I will do as you suggest. I had contemplated about doing as such earlier, but was worried that First American would deposit my checks earlier since they were dated on the day I took the loan out.
I'm not sure if I dealt with any of these but there is a store i
I'm not sure if I dealt with any of these but there is a store in Columbus called ACE and I'm not sure if Ace Cash Express is the same or not. Best thing to do is to talk to them and explain what your going through. Since they are storefronts some may work with you and some may not. There is a chance they can take you to small claims or with some of my pdl places they referred them to collection agencies. Hang in there, I lost sleep over mine also. I had a few more than you did and over time you will get out of it. I'm not sure if your credit report matters or not but towards the end I didn't care if they took me to court. At least I can show a judge I had problems and needed some way out of the trap. If I did get a judgement at least I would only pay out 25% of my check compaired to 100%. But make sure you set up payments that you can afford.