Getting nervous (a little guilty) about PDL

Have you defaulted on these store front loans yet, and have you looked up the laws regarding payday loans in your state?

Shazzars, I am assuming the poster has defaulted, as they mentioned that the checks bounced. I will post the laws for KY. I am not surprised that BIG is contacting you. They are so illegal, it is beyond words. They are located in the UK and they can not touch you. The overseas companies are the worst to deal with.

You will find the Payday loan laws for Kentucky here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Ahhh shoot kashzan, you are correct, "bounced checks" would indicate default, duh. :wink:

Yes, I have defaulted.:( I was in so far over my head that I could barely buy food. I guess I'm just concerned that, even though the stirefronts have not contacted me in a few months, that a sheriff will show up at my house soon serving a summons. I'd like to try to pay them back SLOWLY, but I'm afraid if I call them to set something up without full payment, they may suddenly decide to put something out against me.

The only storefront I have actual experience with is Quik Cash and after you default you will be contacted by their corporate office to make payment arrangements. As a rule, most of them will make arrangements. By law, they cannot prosecute you criminally for these. My best advise regarding the storefronts is to keep in contact and try to make arrangements.

Hi,
Ijust got a call from a Mrs Bog at A.S. Assoc from Nat'l Money store. I took out a $450.00 PDL and wanted to pay it back, however, right after that My mom died and I had to use that money for going out of town. I did not have a paycheck coming in as I was gone (no benifits) and my account was neg. i spoke to my bank, they closed the account and I am making payment to them each week. By "Attorney's Firm" A.S. Assoc called and they were very rude, threatening procecution for fraud, jail time etc if I do not make payment. i explained my situation and that I don't have any money right now with 2 kids. I planned on paying them back, but after that phone call, they got me so ticked, I am thinking about not paying them at all! Can they put me in jail, what is the worst they can do? Any help and information is greatly appreciated.

No...they can not put you in jail!! Try calling them to make arrangements you can keep. Explain the situation and be upfront about what you can afford to pay. I am assuming this is a store front. They are usually legal and can sue you if you don't take care of it so please give them a call. See what you can work out.

wow a store front that is licensed is making those kinds of threats?? You should report them to the BBB

This is for cdollar - worry about your internet pdls later. Your account is closed so they can not debit any longer. You can make alternative payment arrangements. Concentrate on your storefronts. I'm actually surprised that you said it's been a couple of months since you heard from them. As previously stated, you will not be "criminally prosecuted" for these storefront pdls; however, it can go to "civil". Try this approach. It'll probably work for you. Call the corporate office of each one that you've defaulted on. I've dealt with a few of them. The corporate office usually works with you. Explain your situation of being unable to pif and that you are aware the checks didn't clear, etc. They will most likely set you up on a payment plan. They really just want their money back. If you can contact them, ask what you need to do to get this resolved, you can most likely come up with an arrangment that works for both of you. For example, I asked to make $50 payments every two weeks until pif. If I had more, I would pay more. If I didn't, I would pay my $50. Try contacting them before they pursue any kind of action.