help

Hi there, first of all let's move this to the payday loan help section so more people will see it. What was the name of the store front and how much did you borrow and pay back?

I initially borrowed $400, with the payback being $470. Each month, I repayed the $470, but had to turn right around and write another $400 check to cover my bills. Over the last 30 or so months, I have paid well over $2000 in interest alone. The name of the storefront is Advance America.

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I am assuming you have defaulted on this payday loan so the EPP (Extended payment plan) probably is no longer an option for you. Although, you could ask anyway and see what they say, in fact, I would call the corporate office and tell them what happened (the returned money order), ask if they would let you get on their extended payment plan, all they can say is no. The extended payment plan allows you to pay off the loan in four separate payments, and the interest stops as soon as you sign up. It might be worth a shot. Otherwise, I would STILL contact corporate office and make them aware that your payment was refused. I beleive I read somewhere on this forum from Debtcruncher there are some states with laws that void the loan if they refuse to accept a payment, but I don't know if Texas is one of them, that might be something else worth looking into.

If none of the above options work out then I would continue to send them payments through the mail, certified return receipt requested, perhaps you could try sending the one they returned again. They will eventually sue you, but it would be in your best interest to continue trying to pay this off and letting them refuse payments, because if this ever goes to court you can prove to the judge they you TRIED to pay this off but they refused your payments. I don't think that will set to well with the judge and all a judge will do is order you to pay them back anyway and probably set up payments.

I still owe them $470. My dilemma is this: my son was recently killed, and he lived with me and paid half the bills. With my monthly bills (rent, utilities,etc.) now doubled, I can only afford to pay them $50 a month until the $470 is repaid. When I notified them of this and sent them a $50 money order, they refused the payment - sending the money order back to me.

I'm very sorry for your loss; did you explain when you sent the money order what had happened in your life? If not, if you send payments per what Shazzers posted, I'd put some type of explanation w/ the payment. If the payments are sent back to you, I'd keep the envelopes and any (IF any) paperwork the company sends back. If your State has a financial regulatory agency, you might try contacting them and explain your situation, see if they have any advice? Couldn't hurt to try, anyhow. Please keep us posted.