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Debtconsolidationcare.com - the USA consumer forum

Getting Out Of PDL Hell

Date: Thu, 08/13/2009 - 08:10

Submitted by anonymous
on Thu, 08/13/2009 - 08:10

Posts: 202330 Credits: [Donate]

Total Replies: 7


I live in Texas. My wife and I each have a loan at Cash America. Mine is for 750 and hers is around 600. We pay the minimum on these every 2 weeks. We are required to pay these off every couple of months, but we go right back the next day and get them again. We have decided that we can no longer bear the burden of throwing cash out the window on these things as we have for the last several years. We have always been on time with the payments but I have recently taken a 25% pay cut and we can no longer afford these loans.
Both of these are due in 2 days. I would like to know exactly what I should do so I don't get in any deeper.
Can someone please explain the steps I need to go through in order to get these things under control? Other things that need to get paid are beginning to get behind. If we pay these loans this week, we will be completely broke. No money for food or gas to get to our jobs. HELP!!!!!


Actually, just give them a letter revoking their right to debit your account and take a copy of it to the bank, that SHOULD be sufficient since they are a legal lender. Or, if you have written pre-dated checks, put a stop payment on it and inform the lender you have done so. Make sure you go into the store BEFORE your next payments are due,, that's very important.


lrhall41

Submitted by Shazzers on Thu, 08/13/2009 - 09:50

( Posts: 17344 | Credits: )


I was just thinking about the stop payment thingie, I remember when I requested an EPP I didn't place a stop payment on my check, it worked out fine because when you request the EPP you basically enter into another agreement to pay off the balance in four equal payments, and the interest stops. After I paid it off, they gave me back my check.


lrhall41

Submitted by Shazzers on Thu, 08/13/2009 - 09:52

( Posts: 17344 | Credits: )