Payday loan mess - help needed
Date: Mon, 03/17/2008 - 12:45
Here are the payday loans (all internet loans) I currently have:
PayDayOne: $1,000
CashNetUSA: $1,500
PayDayMax: $700
Magnum Cash Advance: approx. $800
Cash Advance Network: $300
Think Cash: $500
Cash Transfer Centers: $800
500fastcash: $150
I am unbelievably stressed and completely embarrassed and I don't know what to do. Chrys Henderson from Oak View Lawn Group called me this morning and told me to close my bank account and we would work out a debt settlement plan. I'm scared to go talk to my bank in person (Bank of America) because my account is currently overdrawn by $1650(!). I don't know if I will even be able to open a checking account elsewhere because of this mess.
Any help would be very much appreciated. I have no idea what I should do next. Thanks!
Donna
You really need to start with your checking account. If you con
You really need to start with your checking account. If you continue to leave it open the PDL companis will continue to try and debit the account which will result in more fees. I would also check with them to see if it is possible for them to return any of the ACH debits, if the PDL's are not legal in your state. They also might be willing to help out with the overdraft fes under the circumstances. In the meantime take a deep breath and someone will be along to post your state laws.
This sight is great and people are so wiiling to help. We've all been there and have lived through it to help others!
Donna, hang in there. We will help you work through this. Chry
Donna, hang in there. We will help you work through this. Chrys and Angell are correct, first thing you need to do is close your account...You will more than likely need to do this in person and try to make arrangements to pay the bank off. I am going to post something in the next post about closing your account. If you have trouble opening a new account somewhere else, we have people who can help you find a bank too... but we will cross that bridge when we come to it.
Ok Donna, read this about closing your account. It has really
Ok Donna, read this about closing your account. It has really good information. If you have any question, please come back and post....
http://www.debtconsolidationcare.com/paydayloan/close-account.html
Since you are in Texas, some of the companies you are dealing wi
Since you are in Texas, some of the companies you are dealing with are not pdl's . . . They are CSO's. This is a clever way for these companies to get around the laws. Unfortunatly it's totally legal.
PayDayOne: CSO - Legal
CashNetUSA: CSO - Legal
Think Cash: Installment Loan - Legal
The companies listed above are legal in your state. You will have to work out payment plans with them to pay off your balance.
Donna, Goudah is an expert with the CSO's. I do not recognize y
Donna, Goudah is an expert with the CSO's. I do not recognize your others as comapnies that would be licensed. I will check that. Take care of your bank account. If you have problems opening a new on, there is a banking fourm right below the pay day loan form on the main forms page. There is alot of information there and we should be able to help you locate a new bank. If you have any questions, please do not hesitate to ask.