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Date: Fri, 04/30/2010 - 09:16

Submitted by anonymous
on Fri, 04/30/2010 - 09:16

Posts: 202330 Credits: [Donate]

Total Replies: 3


i havge 2 online based payday loans and one for 275 and the other for 200 im in a situation where money is tight what would happen if i cant make a payment to pay them off


That would depend. If you stop paying them, then after a certain period of time, depending on the contract, they can start collections actions. Sometimes this means that they will sell the debt to a collection agency, who will become your creditor. Either way, one party will try and get you to pay by negotiating or by suing you for the money in civil court.


lrhall41

Submitted by OVLG Attorney on Fri, 04/30/2010 - 09:24

( Posts: 511 | Credits: )


One of the option which Shane has given you to close your account. If that is not possible then the 2nd option will be go ahead speak to your bank manager and try to close the Transaction Ids of these particular PDLs. Right said by Shane, most of these PDLS or not legitimated to work in your state. To check more about these PDLs you can also have a look at
[COLOR=#000000][FONT=Times New Roman][LEFT][COLOR=#333333]http://www.paydayloaninfo.org/legal.asp [/COLOR][/LEFT][/FONT][/COLOR]
[COLOR=#000000][FONT=Times New Roman][LEFT][COLOR=#333333]http://www.paydayloaninfo.org/stateinfo.asp [/COLOR][/LEFT][/FONT][/COLOR]


lrhall41

Submitted by Peter Simon on Fri, 04/30/2010 - 09:32

( Posts: 60 | Credits: )


Before you do anything, give us some information so you can get the proper advice on how to move forward:

What state do you live in?
Who's the PDL company?
How much did you borrow initially?
Have you been rolling over payments?
What is the total of all payments you've made on each loan?
How much do they say you still owe?


lrhall41

Submitted by OhioGal1 on Fri, 04/30/2010 - 09:32

( Posts: 5253 | Credits: )