Is payday loan consolidation a good option for me?
Date: Fri, 08/14/2009 - 08:35
One click cash - 200(paid 60 )
ace cash services - 200(paid 120)
united cash -150 (paid 45 )
the store front is from easy cash and is 400
I've been using the local store for over 7 months as I've had to reborrow the money everytime I pay them off. Now all these are due next week on the 20th and because I have other utilities and rent coming due on the same week, I will not be able to pay them off or afford the internet loans interests. i don't want them to overdraft my account but I don't know what to do? I filled out a form online for Destination Debt Solutions but nobody's contacted me yet. What should I do? I'm freaking out and completely clueless. Any advice would be greatly appreciated.
I am pretty sure that your interent loans are illegal although y
I am pretty sure that your interent loans are illegal although your storefront will be legal. Illegal loans typically don't work with consolidation compnaies. Read the sticky on dealing with illegal lenders and will explain how to handle it yourself in the first post along with links to sample letters you can send. Fell free to ask any question you may have along the way.
resqume1 is correct, your internet lenders aren't licensed to le
resqume1 is correct, your internet lenders aren't licensed to lend to your state residents. CLICK HERE to find out how to deal with illegal lenders, please read it thoroughly. Your store front lender, Ace Cash should be dealt with first and foremost, go into the store and request an EPP (Extended Payment Plan), click on the link below and read number 11 to understand how the EPP works. http://www.cfsa.net/industry_best_practices.html
Edited by Shazzers,
I misunderstood, I thought Ace Cash was the store front, I am not seeing Easy Cash listed as a member of the CFSA.
This is just my opinion and story. My husband and I got caugh
This is just my opinion and story.
My husband and I got caught up in the PDL trap. Trying to find a way out my husband contacted several consolidation companies. They all had the same game plan.
They wanted to charge us a percentage (12%) of the total amount owed. You set up a seperate checking account and allow them to have ach transaction. You make deposits until you reach the 12%. They will then pull their fee money from your account. Meanwhile, until you reach the 12% all your PDLs are in severe default and you are receiving never ending calls.
Then you make more deposits until you reach the point you can make payments to the PDL companies.
In other words, you are paying them a fee to do something you can do yourself without paying any additioinal fees. And you will probably be able to pay more to the PDLs.
You can get the support and advice right here to help you do the very same thing. There are also very handy form letters, found in the green bar at the top of this page.
You will need to read up on how to handle all the calls that will be coming in, and what their rights are.
Good advice to do it yourself instead of paying. Didn't work ou
Good advice to do it yourself instead of paying. Didn't work out as well when I tried to fix my own sink instead of hiring a plumber, but it sounds pretty good.
