Check n Go default, Please advise!

Date: Fri, 05/02/2008 - 14:20

Submitted by kjeanangel
on Fri, 05/02/2008 - 14:20

Posts: 31 Credits: [Donate]

Total Replies: 3

Im in an EPP paydown with Check n Go. I borrowed 600 back in the 1st part of March. The total was 675.00 with the interest. I ask for the epp option the day my loan was due and they only extended it for 3 payments of 225.00 each payment every 2 weeks. The first payment i paid the 225.00, the 2nd payment i only paid them 50.00 because I was too broke. Now, this is the last payment and they want the whole 400.00 today, or they said they are going to deposit my checks i wrote to them. I wrote them two checks originally, one for 375.00 and the other for 300.00. I've had a hard block on my account for awhile and I was just able to close it completely today. I don't have the 400.00 to give to them today. I was thinking of just giving them 200.00 instead. I have to pay for other things too like groceries! How can they deposit my checks if I only owe them 400.00? I am thinking of filing bankruptcy also, and have a meeting with a lawyer on Monday. What should I do?

I just talked to the manager at check n go and she said she cann

I just talked to the manager at check n go and she said she cannot work with me and has to have the whole 400 today or they will deposit both of my checks. She said that if the checks clear then they will give me a refund, since i owe them 400 and the checks are for 675.00. My account is closed but i am just wondering if this will force it back open since they are checks. I guess I probably should just hand over the whole amount today.

lrhall41

Submitted by kjeanangel on Fri, 05/02/2008 - 14:32

( Posts: 31 | Credits: )

If you have the whole amount, by all means, pay it off and get i

If you have the whole amount, by all means, pay it off and get it over with. If they deposit those checks and they bounce, they will come after you with both barrels to get their money back. You didn't say, but I'm assuming that this is a storefront loan?

As to the bankruptcy, please read some of the other threads here on bankruptcy - it really isn't a quick fix, nor is it cheap, in terms of what you have to pay for it, and also in the effect it has on your credit. It's a long term, life changing experience - and not necessarily a good change.

lrhall41

Submitted by SUEBEEHONEY70 on Fri, 05/02/2008 - 16:17

( Posts: 4583 | Credits: )

Thanks for the advice SueBee. I did go ahead and pay them off. I

Thanks for the advice SueBee. I did go ahead and pay them off. It's just that now, I don't have enough money to pay anything else, so my bills just keep getting that much more behind. That's why I am contemplating bankruptcy. I will post in the bankruptcy forum later and see what I can come up with. On a good note though, within the last month, out of 11 pdl's, I have two PIF's and 1 paid completely so I have made some progress.

lrhall41

Submitted by kjeanangel on Sat, 05/03/2008 - 03:19

( Posts: 31 | Credits: )