Legal lenders and how to deal with them?
Date: Fri, 05/11/2012 - 10:35
Thank you to all for this site! I feel like I have taken next steps to getting my life back on track. I have closed my bank account and sent out the ACH revoke letters. Now I'm in the process of figuring out how much I have paid, and which lenders are legal and licensed in my state (TX).
So any suggestions of how to deal with the legal lenders where I owe principal as well as interest? So I'm assuming I need to go look at the original contract and figure out what the total amount due is? For instance, GoCash.com. Originally borrowed $400 on 9-23-11 and have paid $2200 to date (prior to closing my bank account). What do I do now? They are a CSO. The balance on their website says I owe $277. I guess I owe them that much. Should or can I negotiate a lower amount?
Please let me know your thoughts or suggestions - it would be greatly appreciated.
So any suggestions of how to deal with the legal lenders where I owe principal as well as interest? So I'm assuming I need to go look at the original contract and figure out what the total amount due is? For instance, GoCash.com. Originally borrowed $400 on 9-23-11 and have paid $2200 to date (prior to closing my bank account). What do I do now? They are a CSO. The balance on their website says I owe $277. I guess I owe them that much. Should or can I negotiate a lower amount?
Please let me know your thoughts or suggestions - it would be greatly appreciated.
Your best bet is to call up your creditor and work out a payment
Your best bet is to call up your creditor and work out a payment plan. Most legal lenders would agree to paying off the balance over a period of time (in your case 2 months should be enough).
