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Money is owed to pay loan. Dont have it yet.

Date: Tue, 11/13/2012 - 16:39

Submitted by musicmau5
on Tue, 11/13/2012 - 16:39

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Total Replies: 4


I recently took out a cash advance loan with Western Union (or the pay day store). The amount was about $250 I believe give or take, plus the interest in taking out a loan. When the debt was due, I had lost my job and had no money in my bank account. They had tried contacting me on my phone, but shortly after my phone bill was due and had no money to pay for it since I lost my job, therefore the calls stopped. Its been maybe a month, maybe a little over two months since I took the loan and I still owe them money. I am afraid that since I havent been able to speak with them since then, that they are going to sue me or come after me, possibly put me in jail for it. Does anyone have any idea what they will do and how I should go about this? I really dont want any trouble and have no problem paying it back, but the only problem is that I am still without a job and still have no money left in my account. Help?


What state do you live in? Is your lender licensed in your state? You are liable to pay both the principal and interest, if your lender is licensed. In this case you may try to negotiate with your lender and set up a payment arrangement with them. Otherwise they can file a lawsuit against you. If the lender is not licensed, then you can get out of this cycle by paying back only the principal. Don???t worry, they can???t put you to jail as debts are civil, not a criminal offense.


lrhall41

Submitted by anonymous on Tue, 11/13/2012 - 20:42

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Wow, I had no idea that Western Union does PDL's! Interesting. First off, I am sure that Western Union is licensed in your state, being that they've been around forever--but what is interesting is whether they are licensed for PDL's or not, so it would be good to know what state you live in.
I would contact them, explain the job loss and let them know what if anything you can afford right now. Good luck and keep us posted!


lrhall41

Submitted by kscornell on Wed, 11/14/2012 - 16:46

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