Scared in WA- How to handle
Date: Wed, 04/15/2009 - 00:33
We wanted to close our bank account but have been waiting for a pending item to clear before they will allow us to do so. This is going to put us just 2 days before the loans are due and, to my understanding, we can no longer stop the ACH payments.
We have already opened an account at another bank and will have our paycheck direct deposited there.
Because we couldn't give the notice for ACH, what should we do from here? Just notify them that the account is closed and that we need to make payment arrangements?
We have loans with:
Cash Transfer Centers (500, paid more than principle)
Cash Net USA (700)
Cash Central (700)
Cash 1 (550)
Check Into Cash (350)
I understand that Cash Net USA will often offer an EPP for 4 installments. How long until they expect the first payment?
What are reasonable amounts of money to offer on a monthly payment plan? We have little to work with- which is why we are in this mess to begin with.
Sorry to be so long winded. I am scared of this not working out but hopeful of a better tomorrow.
I would close the account ASAP and then contact the person with
I would close the account ASAP and then contact the person with the pending payment and make other arrangments. You could get a prepaid Visa or money order.
I would contact Check into Cash and Cash1 and set up an EPP. They are both legal companies and members of CFSA.
CheckNetUSA is also legal but normally they won't set up a payment plan until after the ACH does not go through.
CTC is definalty illegal and I checked the WA database and did not find cash central so they are unlicensed/illegal as well.
Make sure your account can not be opened back up if an ACH hits it.
Once your account is closed and secure then send the illegal ones letters that they are not licensed in your state. You can find an example letter here. Scroll to the 13th post to find it. You need to change it to your information and state laws.
You only owe the illegal ones the amount you borrowed. All fees or rollover charges you have made apply to that amount.
I looked at the Cash Central website and they show a WA state bu
I looked at the Cash Central website and they show a WA state business license so I assume they are not illegal, after all.
Well, we had a hard debit block put on the old account today because they said we'd still be liable for NSF fees if we just closed the accounts. I just finished sending the last of 5 letters to the PDL's so there is no turning back now. One way or another, I hope things get better.
What I wouldn't give to turn back the clock and never get a PDL at all! I'm just sitting and waiting for the phone to start ringing. Yikes!
I had a loan with Cash Central and had gone on an EPP with them.
I had a loan with Cash Central and had gone on an EPP with them. Then I defaulted on the EPP. Since then, they've been very nice to work with and I've been paying what I can afford each payday. Usually about $50. I'll be totally paid off with them at the end of the May.
