PayDay Loan consolidation companies?
Date: Sun, 06/28/2009 - 16:35
I've seen several companies advertised as "payday loan consolidation" companies but I don't know if these firms are legit or if they really do as advertised. any advise would be helpful ?
The PDL Consolidation compaines just take your money. You are be
The PDL Consolidation compaines just take your money. You are better off to learn the laws of the state you live in, then do the letter to cease & desist debiting your bank account, close the account expalin to the bank manager what has happened. I did this with BOA and it worked out fine. Then make payment arrangements with each company you owe for the principle. One thing is if you are on a payment arrangement and can't make the amount aggreed send what faith payment you have (enven $20 bucks) til you canpay more and most of them will continue to work with you.
I had to do this with Magnum Cash, I just paid them off last month. The PDL places will make you do all the work and there clause stats you can still be taken to court or garnished while you are sending them 20% of what you the Pay day loan places. If you settle the debt on your own you still owe the full amount of the contract to the PDL Consolidation company as you only have 72 hours to cancel thir contract if you sign up and change your mind.
This site has given me the best information and confidence to take charge of the vicious cycle I have been in. Good luck!
