Kentucky Storefront PDLs!!! SOS!
Date: Fri, 01/02/2009 - 09:32
I posted about a week ago b/c I was in a panic about the NINE storefront pdl's I have in Kentucky. At that time, I had not defaulted on any of them. Instead, I was going from store to store every payday to pay my loans and re-borrow.
Today, that cycle ends. I don't have my job anymore, and I am going to go into each store and tell them that I must default. Some of these stores are CFSA members, others are not, but frankly that doesn't really matter bc I can't afford to pay any of these off in four equal payments.
My battle strategy is this: BEG FOR MERCY!!! :(
Some of these loans I've had since May, and have paid much more in fees than the original loan. I have good relationships with most of the people that work in these stores, but from reading through the forums it seems that the not-so-nice side comes out once you default!!
I am going to be doing some bartending work, under the table, in the coming months and I think I can offer these places a payment plan that is in my budget. I have learned from trolling this forum that the most important thing is keeping my apartment, car, etc.....which is all the stuff that has been suffering while I pay interest to these jerks over and over!
God willing, I can get out of this mess soon and I will NEVER get trapped in the PDL nightmare again!!!!
I just want to say that this forum has meant so much to me since I found it. Like many people I'm sure, no one knows about the awful situation I am in. I am an educated smart person and I feel like such an idiot for letting this get so out of control. No one, not my family or my live-in boyfriend, knows about this mess! I have been feeling so lost and alone. :cry:
Basically, I do have a few questions for the seasoned vets on this forum.
State law in KY limits me to two loans, obviously I lied on my applications to obtain the other ones. So, when I am negotiating payment terms with these storefronts, is it in my best interest to act like they are my only loan? I don't want to anger them or think I defrauded them.
Also, I plan to go in person, and not hide from these people AT ALL!!!! Do you think if I stay available and abide by what they tell them, they will not call my references? Or show up at my house? This is my absolute worst nightmare.
I have read threads that advise going straight to corporate. Other threads say corporate is a nightmare. If I have a decent relationship with store managers, shouldn't I go thru them?
I am going to go in each store and say hey, I lost my job. I am going to have to default on this loan. If you must deposit my check, go ahead, but know it will come back NSF. My account is negative at the moment. I can pay you X amount bi-weekly/monthly until this is taken care of. I have every intention of settling this debt. (an aside, I have about $1300 in a 401K and should be getting a tax refund in a month or two which should allow me to accelerate the process, should I reveal that to them now?)
The important thing is that I know they can't take me to jail.
I just feel like if they take me to court I don't have wages to garnish, so the judge will just set up payment arrangements. Don't you think they will just work with me???
I know I am writing a freakin book here, but I am really scared and nervous and need a lot of encouragement......aaaaggggghhh!!!!!!!!
I owe a total of $4300 to these companies.
Nikki You are not the first to be in this situation, nor will
Nikki
You are not the first to be in this situation, nor will you be the last. In todays world, you situation is becoming more and more common. You have more than likely read my posts where I advised you to go to the Corp Office. I stand by this and in your situation, call them and spell out exactly where you are with your situation. Give them all of the information on the number of loans and amounts, do not hold anything back. As I have stated numerous times, even though you are on good terms with the store level personell, they usually do not have the authority to deviate from policy and procedures. Make your calls sooner than later as if there is no contact, we only can assue the situation and a collector never assumes anything but the worst. The key yo keeping them calling you references is a steady open, honest line of communications.
As for the actuality of paying the debt, they know what time of the year it is and with taxes coming will be a little more patient. Also, as of today, the 2008 books are closed!
Good luck and keep us posted on the calls.
Ok, yesterday I went to 4 stores. Check n Go, Check Exchange, US
Ok, yesterday I went to 4 stores. Check n Go, Check Exchange, US Cash Advance and Check Express. I appreciate the advice of PDL owner, but I figured I would go ahead and see if they offered me payment arrangements. If I got resistance, I figured I could call corporate. At least there would be a record of me going into the store and offering to settle my debt.
I spoke to store managers at all the above, and everyone but Cash Express was easy to work with. All of them said they felt bad for my loss of job and offered payment arrangements that would work for me. They did say I would have to make some sort of partial payment within the next few weeks to keep the account at the store, which shouldn't be a problem.
Cash Express said it must be paid off in full. I anticipated this, bc I read a thread from someone else in my state who is going through a full blown nightmare from this place. I told them I would be getting 401k and tax money soon so I told them I would call them Monday after I spoke with my payroll department to see about how long that would take to get my 401k cashed out. I will just pay them in full. I owe them $483.
Today I am going to Fast Payday Loans and Cash Tyme.
Monday I am going to hit the last three, the loans I have had the longest.
I will keep you updated, but I am already feeling better. So far I have not gotten any calls.