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Sick with worry

Date: Tue, 04/04/2006 - 08:39

Submitted by anncraf2002
on Tue, 04/04/2006 - 08:39

Posts: 40 Credits: [Donate]

Total Replies: 3


I have 6 payday loans that are coming due on the 14th and will have enough money in the checking account to cover these,but i wont have any left over for bills. I want to call T and C but im afraid if i close my checking account i will not be able to open another one as my name is on telecheck. My check is also direct deposited and i know there is not time to stop that. I need some advice as I dont know what to do and its making me sick.


Goodness..
I was EXACTLY where you are about a week ago!
Here's what I've done:
Called my bank immediately and told them the truth and froze my checking account for any and all withdrawals.
Called T&C to consolidate my payday loans. They sent me an application and it arrived the very next day. $155 retainer (refundable) and they will deal with the pdl people to consolidate to one low payment either once a week, every two weeks, or monthly. Terrific people to talk to.
Then the worst part was calling all those payday loan people and tell them what I did...before they tried to withdraw from my account so it doesn't look like I purposely tried to default.
I stopped my direct deposit and will get a physical check to pay my rent and some overdue bills with.
That's where I'm at right now...
One day at a time, my friend.

These people on this forum are the best and they will have all sorts of great advice...Believe me everyone's here is either at or has been where you are and they've survived.
I'm still a sick with worry about it all, but not as bad as I was.

Let us know how it goes.....


lrhall41

Submitted by erzeke1 on Tue, 04/04/2006 - 08:52

( Posts: 1145 | Credits: )


Quote:

I need some advice as I dont know what to do and its making me sick.


Always share your problems with community members here in this forum. It's such a relief that you won't believe unless you do it. Members always try to help others overcome their tough time by offering proper and effective suggestions.

If you cannot close your checking account, inquire if they can freeze it. You need to stop ACH debits, that's all. Inform your bank that you are going to make some other payment arrangement, so previously authorized checks are no more valid. Also consult with your counselor about this. Perhaps they will suggest you sending revocation letter to all your lenders. Keep us posted.


lrhall41

Submitted by stanley on Tue, 04/04/2006 - 10:00

( Posts: 1639 | Credits: )