PayDay Loans and lost my job
Date: Mon, 09/27/2010 - 20:04
I have 2. One is 912.50 to pay back, the other is 545.00.
If they hit my account, I will get bounced check fees and whatnot.
Can I cancel the checks? I really do not want to CLOSE my bank account, but will if that is all I can do. I have till Friday.
I do not trust these companies to NOT cash the checks at my request and work out a payment arrangement.
The first is with CheckSmart, the second is with AdvancePay USA. I am in Cleveland, Ohio.
Thanks
These are storefront lenders, I'm assuming? Checksmart is a mem
These are storefront lenders, I'm assuming? Checksmart is a member of the CFSA and will give you a payment plan. They will take the total amount due and divide it into 4 payments. No further interest will be added. You have to ask for it. They won't tell you about it voluntarily. Have you called Advance to see if they will work out a payment arrangement with you?
Make sure you request these payments plans BEFORE you default! O
Make sure you request these payments plans BEFORE you default! Otherwise, if these are store front lenders they can and will eventually sue you. The key is remaining proactive with your creditors.
Once you sign up for the extended payment plan they will write up a new contract and give you a copy, with a contract in hand they won't attempt to cash your check as long as you make your payments on time, and if they do, then you will have written proof (the contract) of the agreement which you can use to reverse any fees from a bounced check by taking the contract into the bank and showing it to the branch manager.
