Whew...went to the bank

Yeap-the "PayDay Stomach Knot" does tend to hinder sleep! Hope we all get rid of it for good! Best of luck to you!!!

I was up several days in a row before I found this site and saw that many others were going through the same thing as me. Ive signed up with T&C 2 weeks ago and have been getting better sleep since. My payday loans all went into default on friday. I started receiving calls from then yesterday which has got me worried again. Ive contacted T&C everytime one of them call. So far Ive only had one rude call where they threatened garnishment, im hoping T&C took care of that, still havent received any calls but couple more hours to go for the day.

So, what does happen when they call you? How much are your monthly payments to T&C roughly...I've got about 2800 debt w/ PDL companies...how much should I expect to pay each month?

i pay about 180 monthly for my payday loans. My payday loan debt is around 3000 also. so you should expect to pay around the same. you have to pay T&C a 155.00 retainer fee to start the program. it is refunded to you at the end. So far theyve been really helpful. Whenever any of the payday lenders call me. I call them and they seem to take care of the calls. im hoping all of the companies accept the proposal from them. if you have any more questions let me know.

yeah, so what happens if the payday loan company doesn't accept the proposal? About how long does it take to get started, because I have some debits coming through on Fri. should I call T&C now, and freeze all those payments for this Fri. or does it take longer than 2 days to get started with T&C? If I freeze all those debits, I'll have enough to pay T&C, no problem...but If not, then I won't have the 155.00 fee till next payday, if ever! What do you think?

im not really sure what happens if they dont accept it. i think most of them start accepting it after receiving several payments. you would have to call them first and give them a list of the creditos and then theyll either fax you the contract or mail it to you depending on if you have a fax. you can send the money via western union quick collect and you can pretty much get started in the program a day or 2 after. i would go and close your bank account and tell your payroll department that you closed it and would like to receive checks instead. open another bank account and have your direct deposit go through there. also make sure to tell the bank to not let any more withdrawals come through on your old account. Thats the most important thing, so that your old account doesnt open up and be in negative. let me know if you have more questions or if any of this was confusing.

I don't think I can switch accounts on my payroll deposit that quickly. But I can do it for next time. So should I call my bank and cancel incoming withdrawls BEFORE I call T&C or after? Also, I'm at work most of the day, and really don't want to talk about this over the phone at work...is T&C open after 5pm or do you know till what time they are open? Or after I call them, would they allow me to fax them the info on all the payday companies?

yeah it might be too late for payroll to siwtch accounts. you should call your bank though and tell them to make it deposit only and to not let any withdrawals through. it depends on the bank, some let you do it and some dont. i believe town & country is open til 6 eastern time. the first time you call all they ask for is the balance with each lender and their name. once they fax you the contract you will have to sign it and send it back with a list of the lenders phone numbers and addresses. you can get most of them from this forum by either asking or doing a search.

thank you, you've been a big help!

also keep racking up the debtcc points by helping others or asking questions. each debtcc point is equalt to one cent

my bank refused to freeze or close my account and now im 1100.00 in od and they really wont close it now...it sucks but really how do you fight the bank??

Khris,

Do you have any idea of Regulation E? Do some research on it. Also check the thread below-

http://forums.debtcc.com/forums/regulation-e.html

You can discuss these issues with your bank. They might disagree to close account if it is in negative state, however, they should cooperate with you to freeze the account. Otherwise how can you stop the debits?

Tell them that you have already made payment arrangements through your consolidation company and wish to stop pre authorized debits. Keep us posted.

I just checked my bank account and after "freezing" it yesterday, all my PDL co's tried to hit it this morning. I'm going to the bank this morning to see what I can do. Since I put that hold on, I hope they are able to reverse all those charges and get the money back to me. I also opened a new account w/ Bank of America...they are my current bank and have really worked with me here. I wish I would have been able to close the account yesterday but since I had my paycheck also going through, I had to leave it open. Actually, T&C told me that if they talked to the PDLs then they would not debit my account, so either T&C didn't talk to them yet as promised or the PDL's are ignoring them...I'm thinking the PDL's are ignoring. That sounds like what I thought would happen. UGH! I just hope this all gets straightened out by at least Monday.

Your bank CAN reverse the charges-that is a big "CAN". The PDL companies may have not had time stop the drafts even if T&C spoke with them-there is about a 3 day window there and then, if they have if recurring or if they have initiated it, they couldn't stop it (now-that is not to say they would even try-who knows???). But try to be firm with your bank and tell them you froze the account so that the charges would not cause you more debt and that you are working to get this resolved with a consolidation company-but that you REALLY can't afford to pay those charges and stay on your plan. Banks make their money in fees and charges but they can reverse any that they chose...and it may be worth asking for the branch manager and being very frank about your situation. MOST of the time, banks just want to maintain good PR. Good luck to you and from what I have heard, you are with an excellent company in T&C and you should see some light soon.

If the account is frozen, why would you accumulate NSF fees?

Thanks. I went into the bank this morning, dealt with the same person, she has been great! She assured me that everything that was attempting to come through WOULD be reversed, and NO FEES! I called T&C this morning, and they said they were sending letters to the loan companies, so they would have drafted my account because they have not heard otherwise. It should clear up by next pay period! thanks for all the encouragment!

Ok, here's the deal...I have 2 checking accounts w/ Bank of America. One was inactive except for the few PDL I had coming through. I had opened a new checking in Jan. because of some identity theft stuff. So, when I went in to freeze my account, the banker thought I just wanted my current "active" account frozen. So, all those debits that came through will bounce back with no fees. She is really working with me trying to get the other charges on the "inactive" account resolved, so I won't have to pay them. She's off tomorrow and I have NO time to go in and see her today. So, I'm so worried about this. I have to pay my rent today, and the only way I'll have enough money in there is if those charges are reversed! I have a question: Does T&C stay in contact pretty often, or should I call them first? THey haven't called since THursday when they called to say they received my payment, and that they were sending letters to PDL co's...should I just be patient and wait for them to call??

I call them every two weeks when I make my payment to make sure everything is going okay and they received the payment.

but they never call you?

Isent my fee through to T&C on Friday, unfortunatly that was the day all of my loans were due. The folks at T&C said they would try to contact everyone but I think the time difference may have caused some delay. Anyway I went to my bank on Saturday and talked with them. One of the PDL had already gone thru so my account is now overdrawn. Because of that I could not close it but I did put a stop check on all of the checks. The people I spoke with at the bank were very helpful and understanding so hopefully I won't have to many issues. I am still concerned about the PDL's contacting me or my references,especially at work.

Me too. All the payments that went through on Friday bounced back today...so I am just waiting for those calls. T&C said they sent out letters, but they probably won't get them till after they realize all the payments were returned! I am just worried that they will start to harrass me, and I'll have to suck it up and tell them all that I am with T&C and that they should talk to them now. Hang in there celticclass_4 it will get better!

Thanks Seeing_the_Light, I did get a call from one of the PDL's on Friday and had to tell him I am working with T&C and he should contact them. Instead he said I need to have them call him so this morning I called T&C and they said they would contact Advance America (the PDL) first thing. Advance til Payday left me a voicemail today. I kind of want to wait until T&C contacts them because I really don't want to get into it with them. Don't know if that is the best idea but maybe I will wait to see if they call again.

yeah, I'm not sure either if it's best to talk to them all myself first, or let T&C do it...anyone have any advice on this??

I think, and I'm hoping that we since we all are being more proactive in consolidating, that is not waiting until serious default, that these guys will not become too vicious and start the harrassment with our references.
I don't care if they harrass me night and day, that's what caller ID is for, I just don't think they need to harrass my family.

I would let T&C call them for you. Don't try to deal with them yourself. The people at T&C have a lot of experience and do a great job of taking care of the PDL people. They've dealt with all of ours for us and I really don't worry about it anymore. (We've been with them since November).

that's great! How long did it take for all the PDL co's to stop calling you?

Its good to hear from someone that has been with them for awhile. Thanks for the reassurance and advice.

For us, once T&C sent the payments all calls stopped. I do get an occasional call demanding their money and asking if I have an attorney and I tell them that they are receiving payments through T&C and I have a copy of the proposal they signed and sent back. Then miraculously they find the notes in the computer and we never hear from them again.

Seeing_the_light,

T&C called when creditors wanted more money. But other wise, I contact them.

thanks! that helps...I'm just getting so impatient, and can't wait till I know everything. Does T&C mail you copies of the proposals signed by the creditors?

I had to request them. I also request a monthly statement to keep track of balances.

Tammy,When I spoke with T&C this morning they said they were sending out a welcome packet that would explain everything including a payment schedule. After I receive that I should call them and ask for copies of the proposals also? Thanks for your help.

You can ask for copies of the signed proposals and they will send them to you. I've only gotten copies when I need them. They really are helpful and kind and really care about us (the customers). We are all happy to help you with what we can here on this board. :)

Sue, thank you so much. I feel so much better just knowing there are people that I can talk to that understand what a mess I got myself into and that won't judge me for it.

I feel the same. There are people in my life that don't need to know about all this, and this forum has been so helpful and supportive. I know it would be best to tell my boyfriend, but I figure, if we're not married, not even close, then I can work this all out on my own, and he'll never have to get involved...thanks so much everyone!

Celti

Don't every worry about us judging you. A lot of us are in the same situation you are and we are all working on paying our debts off. We're here to help and support each other. Take care.

Sue

I agree...no one judges here, just offer helpful, much needed advice!

Since I started in the forums, I have never been judged. Whenever there was question, everyone chipped in with helpful advice.

This place is definately a godsend!

Amen to that!!

Thank you everyone.

Could I please get the contact information for T&C?

Thanks,

Lynn

I think everyone deserves a BIG pat on the back!!
:D

YEAHHHHH!!! FOR US!!!!!!
Taking control!!!

I know that all I have been doing is mostly lurking for the past few weeks, but there have been a lot of good suggestions and such that I have found...this site is a real blessing.

Lynn

Welcome Lynn, glad to have you here! :D

Thank you Sue :D