Multiple loans in TX
Date: Fri, 05/24/2013 - 21:37
CashNetUsa - borrowed $450, paid $345, all int. & fees
Ace Cash Express - borrowed $200, paid $120, all int & fess
Check N' Go - their "line of credit" with a principle balance of $1400....$220 bi-weekly payments, $60 of which is going to principle
QLoot VIP Cash - borrowed $100, paid 0 so far, $25 due in interest and fees on 5/31
I can't afford to give them anything else. Coming this Friday, it is either the PDLs or my rent. I don't even know where to begin with these guys. I have every intention of paying back the principle, but the interest has gotten me so behind on everything else that I can't keep up the charade anymore. The interest and fees have to stop, and unfortunately I have to catch up on other bills and won't have anything to offer PDL lenders until this happens. My worst nightmare is tons of additional fees being tacked onto the loans, issues with my bank (a local credit union I have a decent relationship with) and harassing phone calls at work or to friends and family. Anyone have advice on how to tackle this? I want to pay these guys off and get this behind me....I just don't know where to start. Any encouraging stories of how you were able to successfully pay off PDLs and walk away from them for good are greatly appreciated!
Your first 3 loans are legal
Your first 3 loans are legal loans...only the QLoot VIP Cash (I believe) is illegal.
So do any of the legal ones
So do any of the legal ones offer payment plans I wonder? I know these people are just loan sharks, so I don't picture them being very willing to work with me. I'm trying to avoid any route that leads to them abusing my work number or calling co-workers, friends, family, etc.
Most legal lenders may offer
Most legal lenders may offer extended payment plans, best to call their corp office and talk to someone. the store fronts do not always have the same authority so better to deal with the corp offices. They may tell you to go into collections so that you can work out a better payment plan.. talk to them - tell them what you can do - have a reasonable plan and I am sure you can work out something. I have personally dealt with Ace and they were fairly reasonable to work with..
You may try to consolidate
You may try to consolidate your legal loans. If possible set up a payment arrangement with them. You are responsible for both the principal and interest to your legal lenders. As far as the illegal loan is concerned, you can easily get out of this trap by paying back them only the principal.