I have been stuck with Sonic Payday for months now

Just send them the payment you're willing to make. I guarantee that they'll cash it. If they don't, send it again. Eventually they'll get tired of it and they'll want their money, right?

Send a letter with your state laws on PDL's. Problem is, is you've been reloaning with them KNOWING that you're loaning with a company that doesn't follow the laws. Doesn't give you a whole lot of leg to stand on if you were to take them to court.

Send the letter with your first payment. Send it certified. Some people have had the letter rejected, but just send it again. Eventually they'll take it, and chances are they will cash the check.

kbraveboy

I hope that understand stopping payments will not help. Because it's an ACH, you would have to do 2 stop payments, since Sonic divides all their repayments in 1/2.

Although I'm against the idea of changing account numbers, if that's the only way out for you, then so be it. That way your account will be protected, and you can save up for 2-3 weeks, and repay them.

Another alternative would be to ask for help through friends and family. I'm not saying ask for the entire amount of your paycheck, but with food and gas money.

It may get tight for awhile, but being trapped in a payday loan isn't healthy. Hopefully you'll be able to get out of their vicious cycle.

Regards-
Mike

I also agree that they will take partial payments, I've been paying them that way since December. They are in enough trouble in Canada that I would think they would back off. DO NOT reloan with them again, file complaints on them and they will back off. Stay away from pdl's, it may be hard to make end meet but you need to cut the strings from that problem, it's the only way things will get better. Are you with T&C?

Sue

In past experiences, community members have shared that they'll turn it over to collections the second time it defaults, but really they'll just keep attempting to hit your account.

Would you mind sharing the details on how you got Sonic to accept partial payments from you?

I am not with T & C. I am unfortunately going to have to file bankruptcy. I just had my initial credit counseling session on Monday. Sonic has not tried to contact me yet, because of the fact that the bank has their ID blocked. I have a feeling that I will hear from them soon. I also notified payroll that they may try to send a wage assignment. Fortunately, she told me that they do not accept any sort of wage assignments.

kbraveboy

I'm a little confused. Who did you have your counseling session with, a bankruptcy attorney, or a debt consolidator? Is your debt so overbearing that bankruptcy is your only option. Please do some research before making that final decision. It's not like buying a car, where you can take it back if you don't like the color.

As far as Sonic goes, and them attepting to contact you, they'll probably not call you. Unless you truely are trying to make efforts in repaying them, and have left messages with supervisors, then they won't call.

I honestly think they don't make any efforts in returning phone calls, because they assume the only reason you'd be calling is because you're about to default. And they want you to do that, so they make more money. Another reason could be that their number in Winnipeg will show up on caller ID.

Is Sonic the only PDL you're currently dealing with?

Regards-
Mike

Mike,
Ever since my loan defaulted with Sonic I've been with T&C for debt management. We had some trouble with them in the beginning but they are accepting payments from T&C for my account. I have not heard anything from them since December 2005. I'm not sure what the difference is between my situation and kbraveboy's but I know there are others on here that also got Sonic to accept partial payments. I'm sorry to here that kbraveboy is filing bankruptcy and I truly hope it's not just because of pdl's.

So many questions....

I have to take a credit counseling session before I can actually file Chapter 7 since the new bankruptcy laws went into effect in October.

Yes, Sonic is the only PDL that I am dealing with. It's just so much other credit card debt that is causing me to file bankruptcy.

Sue

I wasn't aware that Sonic would accept consolidation payments. I suppose since they have their own in-house collection company, that 'any money is better than no money'.

kbraveboy

Hi, you say its just a bunch of credit card debt, but has the counselor gone over the options with you about consolidation. I want to make sure you know the effects that bankruptcy will have, and the avenues that consolidation offers, even at making payments over a 3 year period.

I have weighed my options, and at this point with me supporting my family of 3, I don't really have a choice.

They settled with me, balance was $400.00, they accepted $160.00 and marked paid in full. Good luck in whatever decision you make, but in my opinion, they are worth a shot.

3 years to payoff the debt sounds alot better than 7 years with a bankruptcy mark...that you will find you can get credit at an astronomical rate due to your risk factor.

I have a Sonic PayDay loan and one with CashNet500...just paid off Interim in full...and will payoff CashNet at the end of July in full...Sonic should be done by the end of October...worst case. Sometimes you just have to bite the bullet and get it done.

Easier said than done

Just spoke with Ms Summers at Sonic. She advised me that the balance on a $500 loan is now $693 due by next Friday, or file will be sent to Universal Fidelity. I offered to send in partial payments and she told me that they do not take partial payments. She also said that if I sent them in, that they would be returned to me because they would no longer have the file.