Payday loan help

Date: Tue, 08/14/2012 - 16:43

Submitted by trrinc
on Tue, 08/14/2012 - 16:43

Posts: 10 Credits: [Donate]

Total Replies: 4

I have 2 payday loans and I'm trying to see what my options are.

I'm in Illinois

Online payday loans:

East Side Lenders original loan $1095. balance $1500 payment of $225 due to be paid on 8/24, paid $225 on 8/10, I don't see anyway out of payments, they keep increasing balance with each refinance.

My cashnow.com $975, ori loan $750, $225 due to be paid 8/24

If I close my bank account, will the bank give me a hard time doing it?
How do I make arrangements to pay just the principle?
After closing my bank account what can I do to stop them from calling my employer?
Can they garnish my wages?

Thank you
TR

Both the lenders are illegal. The bank should have nothing to s

Both the lenders are illegal.

The bank should have nothing to say if you want to close down your account (unless your account is in overdraft or something). Talk directly with the bank manager and explain the situation. Have the account foreclosed ASAP.

You call/mail both the lenders informing them that you know they are illegal in your state, that you are willing to repay the principal amount only and that you would do it at your own convenience with amounts that you choose and through money order or by a prepaid debit card.

No way to absolutely stop them from calling your employer. You can take a preemptive step and inform your employer/HR/reception to ignore such calls as you are being targeted by scammers.

Nobody can garnish your wages without a proper court order and illegal lenders would have a pretty hard time getting one against you ;)

When I say principal I mean ONLY the amount that you originally borrowed. No refinance amounts/charges, interest or fees included.