Must I close my account to consolidate payday loans

I would close the account as soon as possible and open a new one. DO NOT tell the payday lenders the new account number.

We closed our account immediately. They will continue to keep hitting it as I keep getting notices that the companies are hitting the old account. We opened with a whole different bank but that is a whole different story. You can also send out do not call letters and wage revoktion letters to make everything stop. This is a wonderful forum.

I had to close my account and open up a different one. I was advised by my bank to close one and open another one because I had companys going in to my bank account using differnt names and amounts then what was authorized.
I also had several bad experiences with collection agency breaking FDCPA---Interstate Compliance Donald Freedman, I have filed a complaint with the State Atty office out of Wyoming and the Federal Trade Commision
Please if you are being Threatened,Harrased,Unathorized Debits, Mis-Representation Please make a complaint with the Federal Trade Commision at 1-877-382-4357 as well as The State Atty office in your state as well as the State the Collection Agency is calling from, The Better Business Bureau

emsbchristy
May I ask what did you write in the do not call letters and wage letters? I am consolidating all my payday loans with T&C but am afraid they will start calling me this week when they find out I stopped payment on all of them. Thanks!

I am not able to close the account because our car payments through the credit union and other loans come from this account. Is there an alternative?

I can't believe that I got myself into this mess!!! If I ever get out I will never take out another payday loan as long as I live. I AM SOOOO FRUSTRATED!

oh2benc2
I will pm you to get your email address and at that time I will email you my letters. What you need to do is send the cease and desist letters out explaining that you do not want any contacts from these companies and if you do you only want them to send VIA USPS. I have faxed mine and also sent them by certified return receipt. I still have calls and have advised them that I will be making a complaint with the Attorney Generals office and with the FTC. Cash transfer centers have been quite harassing but you need to just stand up to them. Make sure you advise each creditor that you are with T&C. Some of them have said that they do not work with third parties but they do. T & C has been wonderful. I hope that this helps.

from what i read in the forums, you should talk to your bank and tell them that you only want your car payments and whatever other payments you want to go through and nothing else. in the meanwhile open up a new account and then tell the car payment people you want them to debit throught your new account, then once everything transfers over you can close your old acccount completely, hope this helps

tauciersmalls
Believe me you are not alone. :oops: We all learn from our mistakes and move on. I thought that I was the only one also but thank goodness I was directed toward this forum. :D

finding this forum gave me hope. before finding it i was just lost and confused.. and now here i am working myself back aout of debt and getting out of the whole payday cycle. its going to take time but at least now im making progress. before i was just paying the fees and falling back on other payments. now ill be able to get back on track of all my payments.

You could ask your bank for a new account number. You could then contact everyone with the new account number telling them that because of some problems your bank account number has changed but all the other information is the same. It makes it a little simplier than changing banks.

thats a good point.. just make sure that all of the payday loan debits are blocked from your old account number and that your account is completely closed. i forgot to ask mmy bank if the debits were going to still go through after i closed the account and i had a negative balance of 600 due to that.

Wow, it's great to hear some many people are starting to have hope again. A few months ago, I was also lost and confused. I am so thankful I have found this forum because it literally saved my life. I didn't know where else to turn and my prayer was answered the day this forum came into my life. It was a big relief to get the ball rolling to get out of the payday loan cycle. You might also be able to block the lender's ID code. I've heard that some people have done that as well. You will need to talk to a bank rep about this. I too closed by checking account per the advice of T& C. I'm glad that I did because I had payday lenders hitting my account up until a couple of weeks ago. I don't know what they were trying to accomplish. They knew it was closed. I think they just try to add on more fees but I'm not going to pay those. I'll pay the legitimate debt. :P :P

I must agree that I believe this forum has helped me so much. I was in such a panic when I looked up Ellis Crosby on the internet and clicked on this website. I was releived to find out I wasn't going to jail over a dumb payday loan. I can tell everyone there is light at the end of the tunnel. It took me 7 months to pay all the loans off. It also taught me a valuable lesson about there is no quick fix to money problems.

You guys have no idea how great this is for me too...I have a good job, and should have no problem with bills, but last year got caught in a bind and freaked out and took out a payday loan. Seemed harmless, but then in order to pay that back and pay my "real" bills, I had to take out another payday loan. Then another. Next thing I know I have 6 of them, and my whole paycheck is going to these stupid interest payments, and I'm not making any progress on the principal. It's so embarssing to tell my friends, "No, I can't got to dinner with you" because I can't afford it, when they know I have a good job! I have told NO ONE about this, and I've been sick about it. I'm so grateful this website and the support of all of you. :lol:

I just found this forum this past weekend and I am so thankful. I called my bank and they told me I could place a stop payment on the lenders ID code but they said that the lender might try to debit under another name. I was just reading one of my contracts with a payday loan company and it says that I can notify them in writing to stop the electronic debits. What is your experience with this? Do they ignore requests to stop the electronic debits?

I am with all of you when I say that I am so fortunate to have found this wonderful forum. Finally I can see the light at the end of the tunnel. Thank you to everyone that has helped me out.

My bank let me do stop payment for the payday companies. For a stop payment you usually have to give the amount of the payment you are stopping, but the bank left the amount blank on the stop payment so that any amount they tried to withdrawal would be stopped.

Great. I am so glad that they are working with you. Make sure it is a continous block or they will try again. My account has been closed for awhile and they are still hitting the old account.

The stop payments at my bank are good for 6 months. After a couple of months I changed my bank account number, but stayed at the same bank. The payday companies did not have acess to my new account number so they could not withdrawl from the new account. Then all I had to do was let my payroll know that my account number and the utilities that I have auto withdrawn know the new account number. It all went vey smoothly. I then began paying off the payday loans.

WHAT IS T/C

I have had no replies as to how to proceed on getting my payday loans paid off. I had so much taken out of my account today that I don't have enough for my rent, that it looks like I will have borrown yet again. This will number 7 please help

Wendy,

Please register with this site and I will pm you with the information.

I ran across this sight by mistake but looks like I came to the right place. Can anyone tell me who T&C is? I am in the same boat.

Angie,
T&C is a debt consolidation company, and they can help you pay off payday loan companies so that you can get off of this endless cycle of debt.

If you register with the site, someone can send you a pm (personal message) with contact info for T&C.

Angie-

Hi, welcome to the forums! There are many other debt consolidators out there that could possibly help with your debt. Town & Country is just one of many.

If you'd like, you can sign up for free, by clicking the link below. One of the counselors in your area will give you a call, tell you about the program, and can schedule you for a free consultation.

If you have any other questions, please don't hesitate to ask.

http://www.debtconsolidationcare.com/signup

Regards-
Mike

I think I registered successful. I would like to get that information on T&C. Everyone year seems to really be pleased with that company.

Angie

When you register, you choose a screen name and pick a password. When you log in, it'll ask for you email and the password you chose. It doesn't appear that you're logged in, at the moment. Soon as I gather your "screen name", I'll be able to click on you and send the information.

Regards-
Mike

You should get a new account anyway. Even if the Payday loan co's do not pilfer your account they are not very good at keeping your info safe. Budgets are low and securuty is not a priority with these clowns.

Go to you bank and tell them your personal info is no longer safe. They will give you a new account as they do not want to be responsible for unathorized debits.

I finally did it!!! I closed my bank account so that no further funds could be drawn off my account from all of my 11 payday loan. That's right. I said 11. I joined an agency to help pay off the loans and can start rebuilding my life!!! I am having trouble though finding addresses to a few so that the credit agency can contact them. Alpha processing, ftr , and united cash loans. Any suggestions???

Hello, Does anyone have the contact information for T&C debt consolidation? I have alot of payday loans on top of personal loans trying to pay the payday loans. PLEASE HELP:(

Misty, feel free to register here and I will be glad to PM you the info.

Hi REDRNOR3

These are the addresses you were looking for. I am not sure about FTR. Let me know the corporate name of that company.

United Cash Loans
2533 N. Carson St Ste. 5020
Carson City, NV 89706
Phone Number: 800-354-0602
Fax Number: 888-570-9772

MLS Direct Network (Alpha Processing)
3216 Cahaba Heights Road
Birmingham, AL 35243
Telephone: (205) 979-3339
Fax: (205) 967-3629

can someone tell me the name of a payday loan consolidation company? i have gotten myself into a mess! thanks

Hi rtcmom

One of the consultants in your area will be calling you for a free counseling. He will discuss your accounts and negotiate with the creditors. Based on your present financial situation, he will offer you some easy repayment options. You will be offered lower interest rates and easy monthly pay offs. The consultant will call you back shortly.

thanks john! I have already talked with T&C. They sounded very nice and assured me that they can help me out! I am so grateful that I found this forum! Thanks to all for the information!

REDRNOR3
Is there anyway you could give me the name of the agency that's helping you consolidate these payday loans?

StarNightK7

I encourage you to register with this site. After you registered, someone will be able to help you.

Hello, will someone be able to assist me with consolidating payday loans in ohio?

Where would I find a letter to fax to the collectors to stop calling me and call T&C?

A cease and desist letter will stop the collectors from calling you further. Here is a template of the letter.

http://forums.debtcc.com/template-cdletter.html

Make sure that you have proof of this letter received by the collection agency. Send it through certified mail with return receipt requested. And keep copies documented in your file.

hello i am in payday loan jail i swear. I am about 3700.00 in debt with payday loans and will not be able to reloan on my next check im so scared i will go to jail or they will make my life miserable by calling 24/7 and i will lose my job if they call at work. i cant keep paying the loan fees i paid $500.00 this week just to keep them going im broke please help me someone thank you

Relax sunshine, no one will send you to jail. Defaulting on the debt is not a criminal offense for which you need to be sentenced jail. This is a civil matter and the actions will take place in small claims court if it gets a legal touch. The most that can happen is that the judge will fix your payments after analyzing your financial situation.

You can still try to settle the matter before it reaches the court. Talk to the lenders and see the latest status of your account. Propose your payment plans and assure that you will be regular in paying them. As you have already paid some money, they will be willing to work with you. You must talk to them first before you default completely.

I've been trying to find someone to consolidate my payday loans with a payment plan I can afford but have had no luck. I filled out the info form on this website but didn't get a call from anyone that could help me. I keep hearing about T & C on here and how they keep helping everyone - how do I get in touch with them?????

If I clode my bank account, will there be anymore charges from these payday places on my closed account.

Casey, Welcome to the forums. If your account is closed they're should not be any charges. Please register and join us here. KYSIDE38

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I too am so glad I came across this site. I have been racking my brain trying to figure out ways to pay off these stupid payday loans. I got in a bind as well and in order to pay that one off I took another and because they gave me that one I took another to pay that off and before I knew it I had 5. My account is so overdrawn from them trying to take out the initial fees or what not. I was advised by my bank to close this account and open a new one. I have people calling threatening that they'll start garnishing my checks or accounts. It gets so frustrating that I don't even want to answer my phone. I'm still trying to figure out how this whole debt consolidation works because Lord knows I can use all the help I can get. I made arrangements to pay them all off I was glad they agreed but in reality I can't afford to pay all of them off right now not all at the same time. I'm not currently working anymore I'm just receiving unemployment and that's barely paying the rent and the other bills to help maintain throughout the month let alone the kids. Please someone give me some helpful advice on more ways to help get myself out of this hole I've dug myself in. I can't even begin to try an save any money up because it's all going to these payday loans.

If you go to the payday loan help forum and post a thread there we can help.
??
We need to know what state you live in and the names of the companies.

This forum has given me hope too!! It sounds like we all are embarassed and only trying to end a vicious cycle that seems impossible to get out of no matter how much you make!! Good to know I'm not alone and there is a way out!! I just closed my account today and reopened a new one and from reading this forum, it looks like I made the right decision!! Just not looking forward to the angry phone call from them....I live in Texas and am having a hard time finding a debt consolidation program for payday loans....anyone know of one?