PayDayLoan HELL
Date: Tue, 12/14/2010 - 13:55
I am thinking about 1. filing bankruptcy (a bad divorce and eviction from apt has really hurt my credit) 2. defaulting on my PDL. I live in Texas and am affraid that they will prosecute me for fraud checks. I had to give both places a check for the balance everytime I renew the loans. I get paid twice a month and have to pay over $100 for each loan just in interest. Ace claims to only allow you to renew up to 3 times and I know for a fact I will not have the money to pay it off in a few days. So now, if I don't default, my only option is to get yet another PDL to pay that one off. It's a never ending cycle!!! If I keep this up I will be homeless, working to just pay interest on these **** PDL
Here is the info, if someone can help...
Texas (Tarrant County)
Ace Cash owe $630 pd over $400 interest only so far
First Cash owe $475 (original loan was $550) pd $1060 in interest
I don't want to go to jail!!! HELP please..what options do I have?
Thank you for reading:confused:
First of all, you're not going to go to jail. Since both of you
First of all, you're not going to go to jail. Since both of your loans are legal and you've already paid so much and cannot afford to pay the remaining balance, my advice to you is to default. Let it go to collection and then negotiate a settlement with a CA (or with the store if they'll allow it) for less than the balance owed. Close your bank account and get a new one and when you do settle don't give them your new checking info. Pay with a money order or via money gram or, if they store's internal CA department settles with you, pay cash and make sure to get a receipt.
Ohio Gal1, If I default on the loans can they prosecute me for f
Ohio Gal1,
If I default on the loans can they prosecute me for fraud checks? I have given a new check everytime I have renewed the loan for one...and the other company just took the initial check and voided it just for the bank info. I owe payments today and I agree I think the best thing to do is close out my account and default and try to make payment arrangements on the principle. I am just really worried about them filing charges against me for hot checks.