Wondering if its worth it?
Date: Wed, 03/18/2009 - 12:27
I live in Texas and I currently have 2 internet payday loans. I've renewed one of them once already and the other one, I just took out a couple of weeks ago and haven't had to make a payment yet.
1. Paydayone.com (borrowed $650, will have to pay back $803)
2. Cashnetusa.com (borrowed $800, will have to pay back $1007)
I've already renewed the cashnetusa loan once and I paid $187 to do that.
I bank with Bank of America and I have Social Security Survivor's Benefits directly deposited into that account. I do know that in Texas, you can't close the account (which I really don't want to do anyway).
I've called PDL Assistance for information but I'm being told different things by different people there. One says there's a $200 set-up fee, $29.95 monthly maintenance fee and 30% of the total debt.
To me, this sounds like I'm going to end up paying about as much as paying the loans off without them. The only difference is that I can spread it out over 6-10 months instead of only having a month.
I'm really not sure what the best thing for me to do is. So I thought I'd ask for advice here.
Thanks in advance!
~~Valerie~~
If memory serves me correct, they are both legal and need to be
If memory serves me correct, they are both legal and need to be dealt with quickly with the lenders. Since you just borrowed the money, why do you not just send the proceeds back since you do not want to pay the fee?
I don't have any proceeds and due to an unforseen emergency surg
I don't have any proceeds and due to an unforseen emergency surgery recently, I've not been able to work so I won't be able to pay them as planned. I'm just wondering if the PDL Assistance would be worth the money it'll cost to consolidate them so I can pay payments to pay them off. I'm not trying to get out of paying the loans or the fees. I'm just trying to avoid having to refinance them 4 times and paying THOSE (additional) fees. So if I could consolidate now instead of paying $400 a month pretty much for 4 months just to refinance, I'm thinking by consolidating them now, it would save me money in the long run...
I thought Langhorne and Oakview were expensive, but those prices
I thought Langhorne and Oakview were expensive, but those prices are ridiculous . . .
You can make payment arrangments with both Payday One and Cashne
You can make payment arrangments with both Payday One and Cashnet.
Payday One is really easy to work with and can split the loan into four to five equal payments.
I have heard that Cashnet will do the same but their friendliness seems to vary. Some say they had no issues while others say they did make the arrangments but were less than nice about it.
I would call them up and see what they can work out before defaulting.
This is another one where I will wish you luck with a payment pl
This is another one where I will wish you luck with a payment plan. You have 2 loans and only one of them have been rolled over once.
The EPP is 4 payments on consecutive paydays and you had better not be late by even a minute!!