Over My Head and dont know what to do
Date: Wed, 12/26/2012 - 02:18
I am sitting here at 4 AM in the morning unable to sleep because of the stupid mistakes I have made. I needed money and now im caught up in the payday loan nightmare.
I live in Missouri and have the following loans:
Cashnet USA borrowed 900 have 2 more payments ( 153 and 73 )
Ameriloan borrowed 500 paid 0 $81 payment twice a month
Net Cash borrowed 1100 paid 0 $153.00 twice a month.
AM Web borrowed 300 paid 0 180 interest twice a month
Speedtcash borrowed 300 paid 0 63 to deffer
These are all due for payment on the 31st. I can manage to pay Cashnet until its paid off but not the other ones. I need to pay my house payment and car note. Is there any way that I can stop the auto payments on the other 3 and then contact the companies to make payment arrangements?
Please help me figure out how to get out of this mess. I need to get rid of these loans and get myself back on the right track.
Audrey
Don't chide yourself so much.
Don't chide yourself so much. Everyone makes mistakes. Just make sure you don't repeat the mistake in future. Ameriloan is an illegal payday loan. I'm quite sure that AM Web is illegal too. You can talk with the bank and revoke the ACH authorization. Don't pay interest rate or fees.
Cash Net USA is legal. You can contact the local office and ask about the EPP.
Over My Head
Cash Net USA is a legal lender. Ameriloan and AM Web both are illegal. You are required to pay only the principal to your illegal lenders. Don’t pay them an extra dime other than the principal. In this case it would be better for you to close down your bank account and open a new one. As far as the legal loan is concerned, you are liable for both the principal and interest. In this case try to negotiate with your legal lender and set up a payment arrangement with them.
