Storefront lender in Texas - need help/advice
Date: Tue, 10/30/2012 - 14:09
I have a $500 loan with Austin Finance: www.austinfinancecompany.com
They required I write postdated checks for this loan. I did not offer collateral or sign security agreements - the checks were the security.
I have several storefront loans I'm working to pay down, and I closed my checking account to get caught up.
I was late on my first payment, and they immediately threatened me due to the checks on a closed account. I reported them to the OCCC after they threatened to have a sheriff's deputy come to my job. They laid off on the threats, but they still want to be paid. So far I have had trouble working anything out with them, and am sure I made them angry by reporting to the OCCC.
I am finally on top of my finances and other loan payments, but my budget is insanely tight. I can maybe afford $50/month to this company, but my payments are $150, I am 72 days past due, and they are saying I owe over $400 just to be current.
I am wondering what options I may have with them. Basically I'm looking for advice in dealing with them, and I'd like to call them today and try to work something out if possible. I'm not trying to ignore the debt, but I cannot have them coming to my home or my job to harass me and try to collect. I figure at this point I can probably afford $50/month to them.
I know they're licensed in Texas with the OCCC. Are they a CSO and what options might I have for repayment with that? Anything like an extended payment plan that would stop fees/interest and chip away at the balance?
Any help would be appreciated.
They required I write postdated checks for this loan. I did not offer collateral or sign security agreements - the checks were the security.
I have several storefront loans I'm working to pay down, and I closed my checking account to get caught up.
I was late on my first payment, and they immediately threatened me due to the checks on a closed account. I reported them to the OCCC after they threatened to have a sheriff's deputy come to my job. They laid off on the threats, but they still want to be paid. So far I have had trouble working anything out with them, and am sure I made them angry by reporting to the OCCC.
I am finally on top of my finances and other loan payments, but my budget is insanely tight. I can maybe afford $50/month to this company, but my payments are $150, I am 72 days past due, and they are saying I owe over $400 just to be current.
I am wondering what options I may have with them. Basically I'm looking for advice in dealing with them, and I'd like to call them today and try to work something out if possible. I'm not trying to ignore the debt, but I cannot have them coming to my home or my job to harass me and try to collect. I figure at this point I can probably afford $50/month to them.
I know they're licensed in Texas with the OCCC. Are they a CSO and what options might I have for repayment with that? Anything like an extended payment plan that would stop fees/interest and chip away at the balance?
Any help would be appreciated.
The only option I see is calling them and negotiating a settleme
The only option I see is calling them and negotiating a settlement for less than what is owed. Pick up the phone and see what happens.
