Tx payday loans
Date: Tue, 04/19/2011 - 12:53
247greenstreet: $250 (200 loan + 50 fee)
peppercash: $525 (initial loan for 550, paid $175 fee to extend, another $200 last week, remaining balance of 525)..so i've paid 375 and only gotten 25 dollars off the initial loan :/
cashnetusa: $250 (200 loan + 50 fee)
doesn't seem too bad, but i owe all of this money next check with rent and bills also due at the same time. i only make about 900-1k bi weekly (flat broke now).. annoyed that i got myself into this mess.
any advice is MUCH appreciated.
if i can consolidate these before next pay period and pay them off at 2-300 per pay period that would save my life. Or if there is a better way I'm open to all suggestions!
Most won't deal with any sort of consolidation or payment arrang
Most won't deal with any sort of consolidation or payment arrangements unless it's already in default (and even then will often not honor their end of the bargain by attempting to deduct more and more often than agreed upon). Your in the trap now, they want you to extend/ payoff and get a new one so you can pay your bills. Are you paid by check or direct deposit? If by check, just don't deposit it, cash it and pay your other bills, then make agrrangements with these folks later. If DD, you may be able to go withdraw all or most of the check before they hit. Hard to time, but sometimes possible....then set up arrangements with them. Neither of these are exactly legal, but if you decide to do so, your doing it at your own risk and for the purpose of breaking the PDL cycle. As long as you make new arrangements and pay them back it will work out ok. If feasible, change your bank and NEVER NEVER NEVER fall into the trap again.
I'm paid by direct deposit. I actually have a 2nd checking accou
I'm paid by direct deposit. I actually have a 2nd checking account with that bank that I forgot about (but is still active).. so I've just now switched my direct deposit soley into that account that the PDL folks don't have. The thing is I don't know whether that will kick in this pay period or next pay period. The second account is not attached to the first for overdraft or anything so hopefully this helps!
Should I go ahead and close the accounts at this bank now? What if I closed the accounts before my direct deposit dropped next friday? My company would then likely just send me a check by mail the next week if the account is closed, right?
What should I call these people and say? I'm kind of concerned now about them lumping a bunch of default fees or something on top of everything since I won't be able to pay them next week.
Thank you immensely for the advice!!!
There is a sticky on closing accounts. Take a look at it. Also,
There is a sticky on closing accounts. Take a look at it. Also, if you close it before the pay hits, it could take weeks before you finally get your money back. The bank will hold it, process it, send it back, company will hold it, process it, hold it, repress it, and finally either DD into the new or cut a hard check.
I wouldn't call them at all. Wait for them to call, then play dumb. Ask for a letter of collection to validate the debt, and inform them you will only deal with them through the mail and demand a mainling address, contact name etc. When you have the adress send them a certified cease and desist order to stop all phone calls and attempts to withdraw money, revoking their privlage to your account. Once all this is in motion, offer a payment plan you can work with. Just don't let them get your new bank info. Use another source for payment, such as prepaid debit cards, cashier check, money order etc. Keep all recipts and copies of anything you send them.