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Pay day loan in Texas

Date: Sat, 09/29/2012 - 05:37

Submitted by smegnon
on Sat, 09/29/2012 - 05:37

Posts: 3 Credits: [Donate]

Total Replies: 4


I am drowning in payday loans, I can only afford to pay the interest each month and this is causing strain financial and emotional strain on my family. How do I break the cycle, I know they are all legal in Texas.

1. Pay day one- borrowed $1200/302.00 month/ paid them three times
2. Cash net USA- borrowed 1800/330.00 month/paid them three times
3. Ace Cash- borrowed 900.00/205.00 month/paid twice

I only get paid once a month and I spend 1200.00 in interest only. I f I could use this 1200.00 to pay them off that would be great I could get out of the cycle. Any suggestions will help, I can only extend Cash net one more month.

Please help!


They are legal loans. Your options are either -

A) call up and ask for an EPP - i suggest you do this with the one you have not paid too much interest to. they will break the payment up into 4 equal payments.

B) default on the loans and work wiht collections. get them to try to consider some of the interest you've paid.

It is probably unlikely you can afford an EPP on all 3 loans so you should perhaps EPP one and collections the other 2.


Please remember you cannot go to jail for debts.


lrhall41

Submitted by waffles on Sat, 09/29/2012 - 18:11

( Posts: 1697 | Credits: )


Waffle,
Do I wait until I have exhausted the renewals on the loans and the entire amount is due or can I ask for an EPP at anytime?

Thank you,


lrhall41

Submitted by smegnon on Sun, 09/30/2012 - 21:54

( Posts: 3 | Credits: )


Important information regarding your account:

On August 29th, 2012, ACE revamped its Title Loan product to allow our customers to pay over five equal payments instead of just one lump sum on all new Title Loans originated online on or after that date. Our records indicate you originated your loan prior to August 29th and are currently in the old single-payment Title Loan product.

What this means to you

After October 31, 2012, you will not be able to renew your existing Title Loan. You may be eligible to renew up until this date. This will be considered your final renewal and you will be responsible for paying your balance in full on its maturity date. You will be eligible to apply for our new Title Loan product online the business day after you pay your balance in full. Your payments will be spread over five equal payments on this new Title Loan instead of just one payment.

If you have any questions please call us at 1-877-876-2274.

ACE Cash Express


lrhall41

Submitted by smegnon on Mon, 10/01/2012 - 17:22

( Posts: 3 | Credits: )