Think Cash

Thinkcash is not a payday lender. This was an installment loan and you are responsible for paying all of the amount borrowed plus interest according to your contract. I have a loan with them and what I did was when my bank account was closed by the FDIC I went to Wal Mart and purchased a money card. I load the payment amount every two weeks and make my payment. If your not able to meet your payment amount you need to call them to work out payment arrangements. At the time you took out your loan they did not report to the credit reporting companies but as of July 2010 they started.

So they will start reporting my credit? Or since I took it out when I did they will not? Also what do they mean by selling it off to a third party.

Payday loans are not illegal in your state. Check out the PDL laws applicable in your state in the following link: paydayloaninfo.org/state-information/43.

Contact Thinkcash and ask for a payment arrangement to repay your debts.

Selling the debt to a thirty party would be a collection agency.

So are they willing to work with you on the payment price? I want to pay them back and save my credit.

Also I appreciate the help and apologize for being a pain. This is all my own fault for not taking care of it and then misunderstanding what the loan was and the rule that I thought they lent me a illegal loan.

You will need to talk to them but what ever the arrangements are be sure to get it in writing. I'm in good standing with Thinkcash so I don't know what type of payment arrangements they have.

That's weird (or not). I also got an e-mail from them the other day stating that my loan was more than 600 days past due. Wonder why the sudden flurry (I assume there are many others) of e-mails about old defaulted loans?
I actually can pay mine back in January; wonder if they'll wait until then?
Pickles

I've dealt with them and have a loan with them currently. They just recently sort of restructured. They used to go by First Bank of Delaware and now everything is under Think Cash. They have been easy for me to deal with.

Pickles - My advice is to call them and explain that you can pay the balance in January. They may ask you to make a few small payments of good faith monthly or semi-monthly.

As for credit reporting, they absolutely can report. They are backed by an FDIC insured Bank. Please try to clear up your account with TC before it goes to a third party.

I just got an email too! It said I was 656 days past due, and going to be sold off. So I called to work out a payment and was told if I couldnt pay by 11/30 then it will go to a CA. I told them I could pay it (settled in full) on 12/3, only 3 days later and they wouldnt do it. So now I guess I will have to wait for the collection calls to start.....