settling payday loan debts with my lenders
Date: Thu, 12/08/2005 - 08:45
Unfortunately I also have a loan with Sonic. I plan on sending them a letter at the Delaware address. Will they sue me?
Generally, I'd like to know if these payday places will sue and where. I'm willing to go to court if I have to. I'm basically judgment proof except for my wages. I've also heard that judges don't like these places.
Thanks!
I have made reasonable payment arrangements with all payday loan
I have made reasonable payment arrangements with all payday loan places we have dealt with and they have settled for the amount borrowed. Sonic is a whole story all its own. They are very uncoorperative. They want all or threats begin. i filed a complaint with the Attorney General and they have agreed to a $50.00 a month payment. They will only allow me to send to British Columbia. I am going to send my payment to their forwarding address in Delaware. Just remember, once you get these loans paid off, never ever get mixed up with them again. Payday loans are expensive and put you deeper in debt. Trust me!
Scooter Draft a payment proposal and if possible send some ad
Scooter
Draft a payment proposal and if possible send some advance money along with it. They will understand that you are concerned in paying off this debt and as a result, they might extend some repayment benefits to you.
Lenders can take legal actions if they want to but doing so, they won't get the money faster in anyway. Moreover, there are other court costs and fees involved with it. If you assure them to stick with the payment plan, they will co-operate with you.
As said by mom of twins, Sonic is hard to deal with, but still, she has been successful in making an arrangement with them. So, I wish you best wishes and hope that you will be able to settle your accounts positively.
Thanks for the imput. Over how long of a period should I go to
Thanks for the imput. Over how long of a period should I go to pay? Is 6 months too long? Also if I give them written notification to terminate the ACH will this help? I already gave a verbal one which probably won't do any good. My bank is being uncooperative. They won't close my account because I have a loan attached to it and would have to get that paid off first. Even though I told them these were unauthorized debits, they still refused to close it. I have another checking account at another bank and have changed my direct deposit to that account. I guess I'll have to arrange payments to the bank now too!
Consider the fact that you save your money in interests if the p
Consider the fact that you save your money in interests if the plan is for a short period. Longer durations have more interest fees added in it. So, you might look to save some money if the plan is kept for a short period.
As the bank is not closing the checking account, you should put a stop payment on it. But it might add up with NSF fees. Talk to your bank and see if you can get it negotiated later.