Checkngo Installment Loan - Help!
Date: Tue, 05/08/2012 - 13:06
Hello,
I am in a serious bind. At the end of February I took out an installment loan with checkngo online in California for $2600, the APR is 216% and I have 8 months to pay it off. I have payed so far 4 payments of $304.64. If the payments continue this high, I will be stretched too thin and will not be able to afford daily living expenses.
What do you recommend I do in this situation? Do you recommend working with checkngo? (does anyone have any experience with them and do you know what to expect if I refinance?)
Do you recommend going to a debt consolidation company? (and if so, can you recommend some good ones?)
Or just any other advice would be extremely helpful. I can't afford to have the next payment be taken out of my account on May 18th.
Thank you so much
I am in a serious bind. At the end of February I took out an installment loan with checkngo online in California for $2600, the APR is 216% and I have 8 months to pay it off. I have payed so far 4 payments of $304.64. If the payments continue this high, I will be stretched too thin and will not be able to afford daily living expenses.
What do you recommend I do in this situation? Do you recommend working with checkngo? (does anyone have any experience with them and do you know what to expect if I refinance?)
Do you recommend going to a debt consolidation company? (and if so, can you recommend some good ones?)
Or just any other advice would be extremely helpful. I can't afford to have the next payment be taken out of my account on May 18th.
Thank you so much
I suggest you call CnG and tell them you can't afford the paymen
I suggest you call CnG and tell them you can't afford the payments anymore and ask them to renegotiate the terms of your contract. They're usually pretty easy to work with.
You may end up paying more in the long run but, if lower monthly payments is what you're after, just make that clear to them.