help..I'm totally confused. I need Illinois laws info!
Date: Thu, 07/09/2009 - 07:57
So I took out a $700 loan at the cash store. I have been paying the interest of $220 a month, and I can't afford a cent more, so I'm not paying off the actual money I borrowed (from their view) so, I was wondering if I closed my bank account so they don't take the balloon payment from my check I had to write them of $808, what would happen? Where can I find the laws on this type of stuff for Illinois? I really don't know what else to do, unless I pay the interest the rest of my life, which is hard enough as it is! I need to know if they will sue me, arrest me ect...
also, this is an installment loan, not an advance.
also, this is an installment loan, not an advance.
Installment Loans are legal in Illinois and they don't have the
Installment Loans are legal in Illinois and they don't have the same laws as PDL's. If you signed a Wage assignment with them they are going to forward that to your job and if that gets revoked they are going to try and get a garnishment..they are pretty harsh. I dealt with one in Illinois and they wouldn't accept payment arrangements through my debt managment program. I had to pay monthly payments on my own and they had to be ACH. That is all they would allow for me to not get garnished.
so pretty much there is nothing for me to do? Just keep paying i
so pretty much there is nothing for me to do? Just keep paying interest and get nothing paid? wow that sucks..