What should I do next for my loan situation?

Date: Fri, 03/02/2012 - 12:21

Submitted by rhaze87
on Fri, 03/02/2012 - 12:21

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Total Replies: 3

I just had to bail on my payday loans. My work hours have been cut and I can't afford to repay them anymore. I closed off my bank account. What should I do next? I have four loans out in Ohio, not internet loans. Will they immediately take me to court, of can I work with them. The four places are Checksmart, Check into Cash, Advance America and a local one I think named Capitol Cash Advance. I want to make payments to them, but can only afford a small amount each payday. What should I do?

Payday loans in Ohio are legal under very strict circumstances..

Payday loans in Ohio are legal under very strict circumstances....
Look them up here.. http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Then follow the link in my signature line that explains how to deal with illegal loans.

lrhall41

Submitted by SOAPLADY on Fri, 03/02/2012 - 14:32

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Try and find out if one or more of the lenders are not licensed

Try and find out if one or more of the lenders are not licensed to operate in your state. You might get an upper hand if that is the case.

lrhall41

Submitted by StevenDoyle on Fri, 03/02/2012 - 22:43

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All of the lenders you listed are licensed in Ohio. Have you tr

All of the lenders you listed are licensed in Ohio. Have you tried contacting them? I suggest you contact each (if you haven't already defaulted) and ask for an extended payment plan. Explain your situation.

If you've already defaulted, contact them with a payoff arrangement you can afford. Generally, if you're working with their internal collections department and sticking to your payment arrangement, they won't send it to a 3rd party.

lrhall41

Submitted by OhioGal1 on Thu, 03/08/2012 - 07:33

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