A vicous pay loan cycle

Well, Texas requires the PDL company to be licensed in the state, so if they're both licensed that's a place to start.

Secondly, from time-to-time, if your need is great enough, you can call or email them (Check N' Go even has a live chat you can use) and you can get a grace period of 2 weeks without any payment to possibly get your finances together and make a larger payment or payoff if you can.

Talking to them can't hurt, and it could give you some breathing room. I've dealt with Check N' Go before and they've always been one of the more professional and communicative PDLs IMHO. If I have to deal with PDL company I try to deal with them (and no, they didn't pay me to say that ;))

Pdl lending is considered legal in the state of Texas. You can get information from the Texas Office of Consumer Credit Commissioner in order to know whether or not pdl companies are licensed to operate in your state. You will be responsible for both the principal and interest if you find that the lenders are licensed to operate in your state. Otherwise, you will have to pay only the principal amount. If you are in a financial hardship and can???t payback the debts in full, then you can negotiate with your lenders. You may try to arrange a better repayment plan with them. Otherwise, you may get help from a reliable debt relief company.

I live in Texas and have not dealt with Cash-N-Go. However, I have done business with CashNet USA and did get a payment plan with them before.

I emailed [email]collections@cashnetusa.com[/email] telling them my customer number and balance. I explained that I was a previous customer and that those loans were paid as agreed and was exploring the option of an extended payment plan, due to some financial difficulties. I asked if they could please provide me with extended payment options.

They got the email and replied back with a 3-payment plan that paid the balance off. No additional interest or fees were added, the balance stopped. You can negotiate the plan and reply back or take the offer. But you have to keep in mind that the money must be there, or the plan is terminated.

CashNet USA has always worked with me for the most part, but yes you need to contact these companies and speak with them first before you default. If you have good history with them, they are more likely to work with you.

Hi,

Payday loans are legal in Texas and you have to thus repay the principal and the interest rate on all your loans. You say that with your present financial condition, you're only being able to pay the interest rate. One thing that would help you is to consult a payday loan consolidation company where the debt consultant will negotiate with your lenders and lower the rates on the payday loans. Once you enroll yourself within a debt consolidation program, you can make easy and affordable monthly payments towards your loans, thereby being debt free in the near future.

However, personal finance management is a necessity along with debt consolidation. Manage your money and svae rigorously to get best result.

Hope this will help you :):)