logo

Debtconsolidationcare.com - the USA consumer forum

Payday loans and bank accounts

Date: Sun, 07/03/2011 - 13:08

Submitted by anonymous
on Sun, 07/03/2011 - 13:08

Posts: 202330 Credits: [Donate]

Total Replies: 3


I have several payday loan out and bank accounts that have been closed for overdraft reasons. I lost my job and was unable to pay the loans back and my accounts got behind and were overdrafted due to the payday loans trying to collect the money. I could not keep up and a my accounts were closed. All this has happened over the last three years and now I am getting calls from collecters and threats of jail time if I don't pay I just started working and can barely pay my bills I currently have to pay monthly. I spoke to a lawyer about chapter 7 but have to save the money before that can be filed. What can I do in the meantime, I don't want to go to jail and I really didn't mean for this to get out of hand but my priority was to take care of my family first. Help :confused:


Good to know that you want to take care of your family. You haven???t mentioned the name of your state. At first, you should check whether or not payday lending is legal in your state. After that, you need to make sure whether or not payday loan company from where you have taken the loan is licensed in your state. Non-payment of debt is not a criminal offense. So, CA???s can???t send you to jail for this reason. Illegal payday lenders don???t have any right to take any legal action against you. If your lenders are licensed in your state, then you will have to pay the principal amount with interests and other fees. Filing bankruptcy is not a good decision. You can contact with CA???s and negotiate with them. You may arrange a better repayment plan with them to repay your debts.


lrhall41

Submitted by on Mon, 07/04/2011 - 04:27

( Posts: | Credits: )


Please provide this information; the State you live in, the names of the PDL's you borrowed from, the amounts of the loans and the amounts paid back, and if the PDLs were storefront or internet. If you give this information, the people here can give you advice on how to proceed.


lrhall41

Submitted by on Tue, 07/05/2011 - 09:14

( Posts: | Credits: )