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I am in official payday loan default

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Well, on Friday I officially defaulted on all of my payday loans. The debits did not go through because I changed my account information. Actually ONE did go through after I faxed, mailed and e-mailed the company a letter unauthorizing them to debit my account. Luckily for me, they responded to the request via e-mail and fax threatening to bring charges against me. So I took that information to the bank and filed penalty of perjury complaints against the company. Now I just have to wait for the bank to put my money back into the account. Anybody ever gone through this process? I need to know how long it will take for the bank to put the money back. I know that the other companies will continue to try to debit my old account, just praying no more debits sneak through.

It took as long as 5 to 7 days for me to get it back in my account.

Sub: #1 posted on Sun, 04/02/2006 - 14:51

whitedove1943 whitedove1943

(Posts: 2 | Credits: )

My bank takes about 2 days to get it back in...But I bank with Etrade, and they seem to be a little quick with everything.

I don't see it taking longer than 7 days. You might want to call the bank and ask them.

Sub: #2 posted on Sun, 04/02/2006 - 14:53

Jessi Jessi

(Posts: 3361 | Credits: )

I will. I suspect it will take about a week. Now I'm praying that no other debits sneak through. I am so tired of walking around with this knot in my stomach and not being able to enjoy myself or concentrate on anything other than debt. Unfortunately, I have fallen behind on other (more important) bills and I must get them caught up also. I will be okay in about 6 weeks as far as being caught up but until then I guess I'll just have to grin and bear it. I sent in my payment to T&C this Friday and they told me they would be sending payments out to the creditors on Monday so hopefully this will go well. Has anyone dealt with cashnet500 or ICS? Just from reading about how they are here in the forums, I am afraid to go to work tommorow because I just know they will call my job and talk to my boss.

Sub: #3 posted on Sun, 04/02/2006 - 15:19

iloveteaching iloveteaching

(Posts: 150 | Credits: )

I never had a problem with ICS. I always thought their bark was much worse than their bite. they harrass me at home with constant phone calls and when the answering machine is on they leave unintelligible messages, but they have never called my work and have never threatened me whith legal action..And I have been sending them very small payments. I really think they're running out of steam fast- and anyway, it took a lot longer than 3 days for them to find out their payment bounced. You'll get a surprisingly polite email from heathmill before they ever try to contact you by phone. Their other company, Interim cash, has been much much more difficult, but even they never called my work or threatened me too much. Most of these people will call you at home 200 times a day before they get around to calling your work.

Sub: #4 posted on Sun, 04/02/2006 - 15:44

finsfan13 finsfan13
(Posts: 6919 | Credits: )

Thanks finsfan13. I hope everything goes smooth. Did you send your payments through T&C or did you set up arrangements on your own?

Sub: #5 posted on Sun, 04/02/2006 - 16:14

iloveteaching iloveteaching

(Posts: 150 | Credits: )

No, I did all of my stuff on my own. Looking back, sometimes I wish I had gone through T&C, but I had 5 loans, they were all less than $250 except for one, and I caught a few breaks. I changed my bank account info the first week of February, found this site, and got right to work. Now, 2 months later, things are really going well, just like they will be for you. I got your back!

Sub: #6 posted on Sun, 04/02/2006 - 16:20

finsfan13 finsfan13
(Posts: 6919 | Credits: )

I too defaulted on payday loans. I had 6. I paid one off this week and will continue to battle one who I feel has been repaid. The others called work once, but stopped at my request. I have been with T&C for a month and the past weekend I have received NO calls at all. It has been a VERY long time coming. I have been playing ostrich for over 2 years.

Sub: #7 posted on Sun, 04/02/2006 - 16:48


I know the feeling okie. Well hopefully all will go well. I've been with T&C just over 2 weeks now and I wish to God I had found them sooner.

THanks finsfan13!

Sub: #8 posted on Sun, 04/02/2006 - 16:53

iloveteaching iloveteaching

(Posts: 150 | Credits: )

With ICS... they may complain but as long as they get the payments you promise they will generally go along. They will try and ask you for more, nut stick to your guns and promise only what you can afford. I would only send them once a month, since they will have you mail it to a delaware address that is a mail drop, which then forwards to england. (takes about 2 weeks. They will usually ask you to fax a copy of the money order as proof you have mailed it. If you have nmore questions, pm me and I will share what I know

Sub: #9 posted on Mon, 04/03/2006 - 08:40

jj jj
(Posts: 1057 | Credits: )

Good luck to you i love teaching. I too defaulted on my payday loans Friday... though so far no one seems to know except PayDay Ok. I had 6 until pollyandsay scared one of them off for me (yes-she is my hero!). I will just take it as it comes but truthfully, not going further in debt this payday has made me feel better than I knew it would-even if I do worry about about fallout from it all. You can only do what you can do and I simply couldn't do it anymore. Take care and keep us posted!

Sub: #10 posted on Mon, 04/03/2006 - 08:55

maryanne maryanne

(Posts: 29 | Credits: )

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