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Need advise on Installment, Secure, and Payday loan.

Date: Mon, 12/10/2012 - 05:43

Submitted by anonymous
on Mon, 12/10/2012 - 05:43

Posts: 202330 Credits: [Donate]

Total Replies: 2


Hi, I live in california and I'm currently having hard time paying installment and payday loan. I didn't default yet but I'm getting to the point where I can't even afford my rent. Can any you please give me an advise as far as how can do it on my own instead of going through some company to consolidate my debt?

I have

CA Check Cashing- store front loan - - I took out $2600 and paid them $5044 for 14 months now.

Checkngo- online about a year $3000. I paid it off and kept renewing it.

Mobiloans- $600 off then renewed again. So $670.

Thanks..



My previous poster is right. You may enroll in a debt consolidation program to consolidate your legal loans. As far as the illegal loan is concerned, you are liable only for the principal. In this case don’t pay them an extra dime other than the principal.


lrhall41

Submitted by anonymous on Thu, 12/20/2012 - 22:31

( Posts: 202330 | Credits: )


Except for Mobiloans, the other lenders are legal.

For ChecknGo, you can ask them for the EPP. They will freeze the interest and spread the balance over 4-5 pay dates.

As for the storefront loan, you need to find out if these guys are CFSA members. If so, you can also ask them for an EPP.

As far as dealing with Mobiloans go, just revoke ACH authorization in writing. Send a copy to the lender and another to the bank. You have actually overpaid them already so you owe nothing.


lrhall41

Submitted by Steve Barris on Thu, 12/20/2012 - 02:47

( Posts: 1043 | Credits: )