logo

Debtconsolidationcare.com - the USA consumer forum

Forums
  • Latest topic

My Story on Debt

Date: Sat, 01/28/2006 - 20:23

Submitted by Glynnie11
on Sat, 01/28/2006 - 20:23

Posts: 216 Credits: [Donate]

Total Replies: 5


I owe $40,000 to the IRS for back taxes from 2000-2003. $4,600 to a valid creditor that recently sued for and won wage garnishment effective Jan 1 2006. A host of other debts from various past creditors totaling appx $3,000. And recently owe $1,800 total base value to paycheck advance companies. I had to close my checking account because I could no longer pay the payday advance companies with the new wage garnishment. I had started using payday companies in May of 2005 and have been paying a good portion of my take home pay to these sharks since then.

How did this happen? I am a problem gambler who has just hit rock bottom. Crashed financially. It all started back in 2001 when I was working on a 1099 basis. Combine a 1099 worker with a gambling problem and you get someone who ends up owing the IRS a ton of money. The IRS has just recently began persuing me and I am in the process of reaching a payment plan with them. On the wage garn, I have taken steps to rectify the situation and it looks like that will stop soon but the IRS will only want the extra money after that stops.

I can deal with normal creditors and the IRS as they respect your privacy but two payday loan places have been threatening to call my employer if I do not payup. Which I can't because I am losing 25% of my base pay in the wage garn. If I lose my job then I will not be able to pay anything. These are not normal creditors folkes. Do not get involved with them. They use gangster methods to collect if for some reason you cannot pay on time. They know their loans are illegal and will use illegal means such as intimidation and public shame to collect.


I would say the only positve thing about this is on Feb 8 I will have to disclose all past due debts as well as fax over all my checking account statements from the past 6 months over the the IRS. It will be interesting to see what they think of the interest paid to these payday companies.

On the gambling. I am starting to recover and will be attending my 1st gamblers annonymous meeting this comming week. actually my largest expense has been gambling so I at least will hopefully be able to stop that. I have a long way to go.


I wish you the best of luck,its great that you are taking the steps needed to get your life back on track,maybe if you give us the names of the payday loan companies,we can help to find the information you will need to send a letter to them,stating that you do not wish to be called at work.Once you notify them of this,it would be ilegal for them to call you.I would also suggest that you take the free consultation from this site,a get some good advice on how to deal with you debt.There is a company that some have used on this site,Town and Country,they do also include payday loans in your consolidation.Let us know if you need anymore information.
Again Good Luck,Im glad you have taken the first step to recovery.
Twokid


lrhall41

Submitted by twokidtwocat on Sat, 01/28/2006 - 22:27

( Posts: 602 | Credits: )


Thanks for the kind words. I already posted and got some great advice from Mishele and others about how to deal with my main payday threat SonicPayday. The other is QuickPayday but I don't think their threats are serious. They are a US based corp aleady in a ton of heat in a bunch of states.

Unfortunately debt consolodation is not going to help me with the IRS. My other main creditor that started the wage garn is willing to deal and it looks like I will only have 2 more ganred pays and can then start paying only 125/mo until its settled. They were very nice to deal with. I wish I had called them earlier before the garn started.

AS long as I can keep the quick pay places at bay then I can hopefully get a good deal from the IRS and be back on track. My other past creditors have not contacted me in a while and it appears that I can pay them off my credit reports as time goes on. Some may even be nearing the point of expiry.

Thing is. Without this payday loan stress and wage garn I do not think I would have been motivated enough to change. I have wanted to stop gambling for a while and have known that I have had a problem but things have really been hitting home the past few weeks. Good things can come out of the worst situations.


lrhall41

Submitted by Glynnie11 on Sat, 01/28/2006 - 23:13

( Posts: 216 | Credits: )


Yes,sometimes we have to hit the bottom,to wake ourselves up,and begin climbing back to the top.
Quickpayday was one of my loans,and they are working with my consolidation company.They even send me an email each month letting me know my balance.Im only paying 75 dollars a month,and they stopped adding interest.The key is to be as nice to them as possible,and thank them for understanding.Sometimes you get more with honey than vinegar,as the saying goes.


lrhall41

Submitted by twokidtwocat on Sun, 01/29/2006 - 00:06

( Posts: 602 | Credits: )


Yes I know what you mean. You don't want to be combatative with anyone as it will only make things worse. But we do have rights as comsumers and sometimes have to point that out. The only thing documentable I have been getting from QP are cheesy looking e-mails stating a past-due debt with no last names attached to the agent and no address. They want me to send back my acct info in an e-mail response so they can debit my acct. I have requested that they mail me all paperwork supporting the loan with full contact info and state liscense no. So we will see what I get back. Their e-mails are very amaturish looking and to the untrained eye look like some sort of e-mail scam. If they send me written proof and an address to send payments to then I will work with them. But I am not giving acct info out to anyone again.


lrhall41

Submitted by Glynnie11 on Sun, 01/29/2006 - 00:48

( Posts: 216 | Credits: )