Need Help on delinquent payday loans.

Hey Cynthia!
Definitely look into consolidating your payday loans...you'll pay one lower payment per month.

Alabama Central Credit Union sounds reputable...don't hesitate to ask several questions when speaking with them...better safe than sorry!

Hi Cynthia,

Get free counseling for help. As guitar_slayer says, do not hesitate to ask questions.

If we as a community can help further please let us know.

Thanks
Vikas

Are there some debt consolidation companies that you recommend that will work with payday loans? Alabama Central Credit Union does not.

You can try the one through this site: United Christian Financial--they're very reputable :-)

Cynthia, I did a free registration in this website and was called by a consultant in my debt consolidation program.

He did all the necessary negotiations with my lenders and offered me various options on my repayment. My life has taken a good shape after I got in touch with this company.

I had a loan ith fsm group and due to fraudulent activity on my account from ace america loans, One 75.00 was returned to them. I am desperate to get in touch and have the loan paid in full. Is it too late? I had a threatening call from a miss lopez at National Processing. Has anyone heard of her? That was a 200.00 loan I ended up paying back at 583.00!! I feel syupid for doing this! I am not behind on any other payments but do you think I can arrange repayment if I get to fsm before I am sent to a collection agent?And if I state my rights and tell them not to call my work will this stop them?

Hi miswim

Welcome to the forums. Most creditors are willing to work with you before they send the accounts to the collections. You can let them know in advance that you care and wish to maintain your credibility.

Do not let your accounts go to the collections. Try to arrange a payment plan with your creditors and clear it off. If it is sent to the collections, it is a derogatory mark and will stay on your credit report for a period of 7 years. You might have problems in the future in acquiring new credit.

Once your creditors are convinced that you are willing to make your payments regularly, they will calm down with their forceful actions.

Regards
Roxette

Do you recommend that I contact Fsm? And do you k now how long it takes before something like this goes to collections? It's only been about 10 days. Have you heard of people having sucess with reaching FSM and/or making payment arrangments? I can afford to just pay it in full on my next due date and also I can pay them back the fee that was returned to them If it has already gone to collections, even if it is Ellis Crosby should I contact them to pay it back?

Hi miswim

Welcome to the forums. If your account is still with your creditors, I suggest you to settle it with them only. Do not let your accounts pass on to any collection agency as it shows that you were not responding to the creditor's payment calls.

Creditors and consumers can make a suitable payment arrangement within themselves and settle the accounts comfortably.

As you are showing keen interest in completing your payments in the next due date, I am sure your creditors will accept it and report your accounts with positive remarks to the credit bureaus.

Regards
Roxette

I currently have 10 payday loans and I have negotiated paying 50 dollars a month on them until they are paid off. The majority of them was willing to work with me and I had no problems. I told them I could pay them via money order because it cost 12.95 to send it quick collect. I am pleased with the results. However, one company has threatened to send it to their attorney and stated that they couldn't accept a 50 dollars a month payment. They also stated that I could make payment arrangements with their attorney. I have their payment information and I'm still going to send them 50 dollars and keep all my receipts. I'm sure they won't turn it down. Just try negotiating with them and telling them what you can afford. If you are like me with one paycheck coming in the household then I'm sure they will try to work with you. Wish you the best.

Has any one ever been delinquent with a company called Quick Cash? I am wondering what they will do if I am unable to pay???

Hey!
I've been researching for Counseling Departments but they seem to charge upfront.
I called them in and they seemed legit but its just the fact I cant find any reviews of it, but what i I liked about its that they dont charge upfront until they find the perfect program for you but my worries is that I cant find any reviews of the company. Has anyone tried it before?
Thank you so much!!!

If you can't afford your monthly payments, consolidating your loans would not make it anymore affordable. Have you thought about that? It would certainly make your life easier in terms of making a monthly payment to a single creditor instead of six. Is your credit good enough to qualify for loan consolidation? do you have any assets such as home or car that are you may consider putting a lien on? Have you considered debt settlement instead? It will most definitely cut your monthly payment and make it affordable. Not only that it would reduce your overall debt
by at least 40% you will be debt free in as little as 12 to 36 months.

Compare benefits of counseling vs settlement before making your decision.