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I have 2 CSO loans. I am struggling to pay. Can I legally close my checking account and pay them back what I can afford on my terms?




I'm not sure what is the best way to deal with CSO's but I wanted to acknowledge your post. Please keep checking back to see if anyone else responded. Hang in there, someone will be along to advise you when they are available. :)

Sub: #1 posted on Tue, 08/26/2008 - 04:49

Shazzers Shazzers
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(Posts: 17342 | Credits: 1581.98)

Quote:
Can I legally close my checking account and pay them back what I can afford on my terms?


Yes, you can close your checking account.

You will have to pay them back the amount they say you owe, as the fees are not regulated. You can pay them back on your terms, but keep in mind that they can take steps to collect on the debt, so make sure your terms are appealing to the companies. $10 a month won't work.

You will want to keep up communication with these places. Once your account is closed, you will want to call them and let these places now. Be honest, tell them you got overextended, but want to pay your obligations.

Sub: #2 posted on Tue, 08/26/2008 - 06:47

goudah2424 goudah2424

(Posts: 7936 | Credits: 1221.13)

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