Check Cashing Services

Hi kbluvscats

Read the thread below and learn some great ways to overcome payday loan problems.

http://forums.debtcc.com/forums/direct-deposit.html

Have you explained your situation to the bank? Bank accounts help in building credit history. They will offer you some options in this regard. Don't give your info to the lenders. Pay them through money order. Slowly, you will come out of these financial problems. Have you tried for some professional help?

This is not my first time with payday loan problems and so I don't really trust myself with a bank account. I have also tried giving my checkbook and checkcard to a family member and only using them when a bill needed to be paid. So I am looking at extreme alternatives to a bank account.

The problem you will have with most check cashing businesses is that they are also the ones doing payday lending. Another issue is the fact that they take a certain percentage out of each check cashed (sorry I don't know how much although I suspect it is different for each company).
Personally this was the second time I had allowed myself to be sucked into the PDL trap. This time around will be the last. The only way you will truly be free is when you decide that now is the time and you take control. You can do it :) and you will have the support of the people on this site anytime.

I've cashed checks at the check cashing/pdl places...It can be a big pain becuase the first time you go to cash it, they have to call your employer and verify that the check is valid, and then they charge about 3% of the check. So a $700 check, will charge $21.00. It gets very expensive, and I don't recommend it.

Couldn't I just take the check to the bank that it is written on and have it cashed there? How else could I have it cashed? I really believe that the only way to control this is to not have a checking account. Someone suggested that I just get a savings account but I tried that but I had to have a checking account as well.

Etrade will let you have a savings without a checking...go to etrade.com

A lot of grocery stores will cash a payroll check up to a certain amount. Usually $500 or less.

And you can take the check to the bank it was drawn on if it's a local bank. They typically charge up to $10 to do that.

My problem is that my paycheck is higher than that $500. Is there not a check cashing place that is not associated with payday loans?

When I had to close my account due to payday loans, I found a bank that would cash my paycheck for for $5. And my checks were a lot more than $500.
My payday loan problems were due to gambling. Forgive me for intruding, but is this true for you also? If not, I do apologize.
I don't know of any check cashing place that isn't also a payday loan store. The larger grocery stores will go over $500 but all will charge some sort of percentage.

No, it isn't for gambling. I have a problem with compulsive spending.

kbluvscats, maybe if you let us know where you live, someone may have some alternate suggestions for you. It's hard to offer advise, because members of this community are all across the nation and a business or service that maybe in their area may not be in yours.
I guess you could always do one of those debit card accounts where you don't have a checking account, but your paychecks are direct deposited into a debit account tied to a master card debit card. I think I have seen fees advertised at around five or seven dollars a month.

I think I understand the problem you say you are having. Unfortunately, there is no way for you to have any access at all to your money and not run the risk of overspending. The only way you could eliminate that possibility is have someone else do all your bills for you, shop for you, and make any purchases for you so they can control your cash flow.

I hesitate to suggest this, mainly because I figure you may already be doing it, but since you said this is tied to a compulsive disorder/depression, have you seen a counselor/therapist? maybe a support group for compulsive spenders/shoppers in your area may help? The members here will always be here to support and help in any way they can but you may need a more tangible, local support system where you can get immediate help when you need it instead of having to post and wait for a reply. Just a suggestion. If I can help in any way feel free to let me know. I hope you can find a solution your are happy with.

Yes, I do see a therapist for the depression and ocd but I haven't been since February for a variety of reasons. None of which are too good. I am scheduled to go back next month.

I live in Fultondale, Alabama, a city just on the outskirts of Birmingham, Alabama.

Thanks for all the helpful suggestions!

If your paycheck is written on a local bank in your town or in Birmingham you can cash it with no fees. I have done this before and after paying bills (With money orders) put the rest in a savings account. It was a pain for awhile until we (my husband) and were able to open up a checking account. I had no pdls until this past year. Then I had 13 at one time. Now they are consolidated and 5 are paid in full.

I also found out that our local Wal-Mart will cash checks up to $1000. There is a charge I'm sure. Thanks for everyone's help.