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Scared and don't know what to do!!!

Date: Tue, 03/22/2011 - 22:10

Submitted by anonymous
on Tue, 03/22/2011 - 22:10

Posts: 202330 Credits: [Donate]

Total Replies: 3


This past Dec. I got a loan with WESTERN SKY FINANCIAL, the same day that I was approved for my loan they sold my load to CashCall. I've recently had surgery and am off work for 3-6 mos. if not longer. At this time I have NO money coming in and i'm unable to make payments. I called them as soon as I knew I was going to have surgery and explained to them what was going on to see if I could make some different payment arrangements. They told me there was nothing they could do to help me because I had only made one full payment at that time. I get numerous phone calls every day telling me to sell my things and borrow the money... well thats not going to help me with next mos. payment or the mo after that. I guess what my question is, is it legal for them to sell my loan off like that? Will I be sued or be put in jail?


Hi!
Welcome to the forums!

Are you sure that payday loan is legal in your state? Does Western Sky Financial has the license to operate in your state? If no, then you only have to only pay the principal amount. If they are legal, then you are obligated to repay the debt. The lender can sue you for non-repayment of the debt. The lender may also sell the account to another lender. You can go for payday loan consolidation to repay your debts.


lrhall41

Submitted by Good Nelly on Wed, 03/23/2011 - 03:22

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Your creditor can sell off your loan to some other financial organization. That will be solely their discretion and there is nothing wrong in that. If you cannot pay off the loan on time every month and if the payday lender is legal in your state, then your creditor can take legal actions against you in order to recover the debt.


lrhall41

Submitted by Anna Sweeting on Wed, 03/23/2011 - 03:25

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If this is a payday loan, I would close your checking account so they don't have access to any money you might have, or run up charges for insufficent funds when they debit your account.

Do you have a state disability plan? Do you get sick leave from work? If so, you can work out a plan with them should they be legal.

If you are not working and have no money, I don't see what they can do at this point. and if they are illegal they most likely won't do anything except harass you with phone calls.


lrhall41

Submitted by aubrey on Wed, 03/23/2011 - 06:09

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