Payday Loan HELL II.
Date: Wed, 07/05/2006 - 20:01
My question is this: Does this website assist in helping to pay back PAYDAY loans AND other debts owed to creditors?
I have RUINED my credit.
You are not alone my friend, you are not alone. Welcome to the
You are not alone my friend, you are not alone. Welcome to the world of payday loan refugees. What state are you in and are these internet lenders or store front lenders?
RE: PAYDAY LOAN HELL II.
pollyandsay: Thank you for responding to my gripe about owing multiple payday loan companies. I live in the state of Texas and the majority of my payday loans were executed online. It became TOO EASY apply and be approved for a payday loan from one company, then another one, then yet another one. Before I realized what I was doing to myself...BAM! My former bank closed my account due to so much ACH'ING going on in it, thus creating an excessive amount of NSF'S that I just couldn't financially keep up with. Now, I also owe the BANK money for all that. It's my own fault; I'm the one that got myself into this mess and now I need to find a way to get out of it. I have received threatening phone calls as well as emails as a result of my owing these payday loans and it's scary. I certainly don't want any of these places to get a judgement against me or take me to court and/or jail. If they tried to sue, they sure wouldn't get anything as I do not have ANYTHING (especially $$). By the way...for the most part, I think almost ALL of these payday loan places that granted me loans are out of state (that is, not in Texas, where I reside.
Any suggestions, comments, or otherwise?
Thank you for any quick response you can give. Most of these payday loans are OLD now; at least a year old.
just breathe... the chances of these places suing you are pre
just breathe...
the chances of these places suing you are pretty small. there is a strong likelihood that these companies are not licensed to lend to residents of texas and that they are charging you a usurious interest rate.
Go to my blog http://pollyandsay.yesdebtfree.org there is a template letter for settling with them.
I have posted TX laws in these forums quite a few times so do a search and you should be able to find them.
Go through your bank statements and figure out what the original ammount of the loan was, how much you paid in principal and how much you have paid in interest.
It sounds like you have already defaulted awhile ago, so the lette will need some tweaking. Are they still calling you or are you receiving anything in the mail? Is anything being reported on your credit report? (Chances are they haven't!) If it has been awhile and they have wrote you off, you may not want to dig all of this stuff up, but it is worth checking to see if any of the company's are licensed to lend in TX. The easiest way to find out the real name of the company is to pull a whois report with the url.
I am sleepy and stressed and if I am rambling I apologize. Feel free to ask questions. I will answer them tomorrow.
Payday loan refugee's...lol Yes we are. We need a cooler nick
Payday loan refugee's...lol Yes we are.
We need a cooler nickname than THAT though...hmm