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4 payday loans, help!!

Date: Wed, 07/07/2010 - 08:44

Submitted by Fancy
on Wed, 07/07/2010 - 08:44

Posts: 5 Credits: [Donate]

Total Replies: 9


Hi,
I currently have 4 online payday loans:

Loan Shop 250 borrowed 75 paid
UsFastCash 400 borrorowed 120 paid
One click Cash 450 borrowed 725 paid
The Cash Spot 600 borrowed 450 paid

I have previously taken out loans with each of these companies and repaid in full. I can't however continue to make these current payments without falling completely behind on other bills. I am more than willing to pay them all what I owe, but can't do so twice a month and at such high interest. Should I contact them and try to work out monthly payment arrangements or will they not accept my offer?


A little more information will be most helpful.

First off, where do you live? Some of these may not even be legal to loan in your state.

Secondly, how much did you borrow from each

Third, how much have you paid to each?

This will all make it much easier for anyone here to help you. Don't feel ashamed to ask for help, as almost all of us have been exactly where you are, if not worse. Take a breath. From here it will get better.

:)


lrhall41

Submitted by JuneJ on Wed, 07/07/2010 - 10:27

( Posts: 34 | Credits: )


Quote:

Originally Posted by JuneJ
A little more information will be most helpful.

First off, where do you live? Some of these may not even be legal to loan in your state.

Secondly, how much did you borrow from each

Third, how much have you paid to each?

This will all make it much easier for anyone here to help you. Don't feel ashamed to ask for help, as almost all of us have been exactly where you are, if not worse. Take a breath. From here it will get better.

:)

I live in New York and the amounts borrowed are as follows:


Loan Shop 250 (75 paid so far)
UsFastCash 400 (120 paid so far)
One click Cash 450 (725 paid so far)
The Cash Spot 600 (450 paid so far)

Like I said, I have loans with each in the past and they have been paid off in full (I know, I was an idiot to take out new loans!)
Since I have paid off past loans with each, would they be willing to work with me if I called?


lrhall41

Submitted by Fancy on Wed, 07/07/2010 - 10:34

( Posts: 5 | Credits: )


Quote:

Originally Posted by Fancy
I live in New York and the amounts borrowed are as follows:


Loan Shop 250 (75 paid so far)
UsFastCash 400 (120 paid so far)
One click Cash 450 (725 paid so far)
The Cash Spot 600 (450 paid so far)

Like I said, I have loans with each in the past and they have been paid off in full (I know, I was an idiot to take out new loans!)
Since I have paid off past loans with each, would they be willing to work with me if I called?


all pdl's are illegal in NY in the case of one click they owe you 275.00.you only owe the principle on each loan.go to the sticky titled DEALING WITH ILLEGAL LENDERS at the top of this forum.it will guide you.btw not only will they not work with you,but will act like idiots when you become aware of your rights.go to the sticky and follow it.we will be here to answer any further questions.


lrhall41

Submitted by paulmergel on Wed, 07/07/2010 - 10:39

( Posts: 15514 | Credits: )


Quote:

Originally Posted by paulmergel
all pdl's are illegal in NY in the case of one click they owe you 275.00.you only owe the principle on each loan.go to the sticky titled DEALING WITH ILLEGAL LENDERS at the top of this forum.it will guide you.btw not only will they not work with you,but will act like idiots when you become aware of your rights.go to the sticky and follow it.we will be here to answer any further questions.



I did read the post about dealing with illegal lenders but I am unable to open a new checking account......my ex-husband and I had a joint account and he defaulted on the account somehow and we now owe the bank about $250. If I keep putting stop payments on my account and follow the steps in the post, would that work? I know that stop payments are expensive but much less than the fees for the loans! I feel so trapped.


lrhall41

Submitted by Fancy on Wed, 07/07/2010 - 10:44

( Posts: 5 | Credits: )


Quote:

Originally Posted by Fancy
I did read the post about dealing with illegal lenders but I am unable to open a new checking account......my ex-husband and I had a joint account and he defaulted on the account somehow and we now owe the bank about $250. If I keep putting stop payments on my account and follow the steps in the post, would that work? I know that stop payments are expensive but much less than the fees for the loans! I feel so trapped.


you get the account put on DEPOSITS ONLY status then.see the bank manger for this.do not do stop payments.not only are they expensive,but they never work.because these places will change amounts,co names,or put through a paper check.do the deposits only,and that should work.


lrhall41

Submitted by paulmergel on Wed, 07/07/2010 - 11:00

( Posts: 15514 | Credits: )


Quote:

Originally Posted by paulmergel
you get the account put on DEPOSITS ONLY status then.see the bank manger for this.do not do stop payments.not only are they expensive,but they never work.because these places will change amounts,co names,or put through a paper check.do the deposits only,and that should work.



YAY, I was able to open a new checking account online!! I'm so happy and will follow all the steps I found in this forum to work everything out. All I want is to pay off a fair balance and be done with this. I'll post my progress and results....and probably some more questions along the way. thanks!!!:D


lrhall41

Submitted by Fancy on Wed, 07/07/2010 - 13:16

( Posts: 5 | Credits: )


Quote:

Originally Posted by Fancy
YAY, I was able to open a new checking account online!! I'm so happy and will follow all the steps I found in this forum to work everything out. All I want is to pay off a fair balance and be done with this. I'll post my progress and results....and probably some more questions along the way. thanks!!!:D


Good for you! Also be aware that when you decide to make these payments, don't (for any reason) give them your new account information. Demand to pay by money order or moneygram. Good luck to you, and keep in touch!;)


lrhall41

Submitted by JuneJ on Thu, 07/08/2010 - 09:36

( Posts: 34 | Credits: )


Quote:

Originally Posted by JuneJ
Good for you! Also be aware that when you decide to make these payments, don't (for any reason) give them your new account information. Demand to pay by money order or moneygram. Good luck to you, and keep in touch!;)


thanks for the tip, I'm NEVER giving any of these people my info again.


lrhall41

Submitted by Fancy on Thu, 07/08/2010 - 14:50

( Posts: 5 | Credits: )