Payday Loan Nightmare
Date: Tue, 01/26/2010 - 13:38
I wanted to share my story about what is going on in Ohio now that they have changed the laws here. Most of the lenders have changed their license so they can still lend and not follow the new laws that were passed.
It has been a nightmare to get out of!! They charge you daily interest now if you default and are not willing to settle one bit!! Most of them will accept payments but you can not default on those payments what so ever!!!! Like one loan was for $500.00, loan fee $46.00 from Cashland. I now owe them $720.31!! One loan for $500.00, loan fee $75.00 from Checksmart. I now owe $668.29!! These are legal storefront lenders so there is no getting out of this!!
But I fought through all of this and have come out ahead. I kept in contact with them every week without making a single payment!! ( I don't recommend this of course!!) I just kept talking to them and asking for extensions and please do not take me to court. Yes they have gotten nasty with me and yes I have reported them. But as long as I kept in contact they have actually not taken me to court and they are 7 months past due!!
I have been making payments to 1 which is Advance America and have almost paid it off and they are not charging me any more interest since I started the payment arrangements.
Checksmart was so beyond nasty but I kept talking to them and they did send it to an attorney but the attorney worked with me and did not refer it to court and it will be paid in full this weekend thanks to income tax!!
Cashland actually just up and quit talking to me so I kept bugging them. It finally went to their legal department and they gave me till the end of February to pay it off in full which I will be doing this weekend again thanks to income tax.
My other 2 I am not in default on and I can afford to pay one off in full this weekend. The other I am going to slowly wind down and I AM NEVER GOING BACK!!
I honestly think it is better to go this on your own and thanks to this forum I learned what to say to them to put them in their place when they got nasty with me! It will feel so much better to get this over with!! There is hope people and I wanted to share this with you all because it is hard. But if you keep talking to them and not ignoring them, they are ten times more likely to work with you than to just take you to court even though they do sometimes get nasty and are hard to deal with. Hang in there everyone, it can be done!
It has been a nightmare to get out of!! They charge you daily interest now if you default and are not willing to settle one bit!! Most of them will accept payments but you can not default on those payments what so ever!!!! Like one loan was for $500.00, loan fee $46.00 from Cashland. I now owe them $720.31!! One loan for $500.00, loan fee $75.00 from Checksmart. I now owe $668.29!! These are legal storefront lenders so there is no getting out of this!!
But I fought through all of this and have come out ahead. I kept in contact with them every week without making a single payment!! ( I don't recommend this of course!!) I just kept talking to them and asking for extensions and please do not take me to court. Yes they have gotten nasty with me and yes I have reported them. But as long as I kept in contact they have actually not taken me to court and they are 7 months past due!!
I have been making payments to 1 which is Advance America and have almost paid it off and they are not charging me any more interest since I started the payment arrangements.
Checksmart was so beyond nasty but I kept talking to them and they did send it to an attorney but the attorney worked with me and did not refer it to court and it will be paid in full this weekend thanks to income tax!!
Cashland actually just up and quit talking to me so I kept bugging them. It finally went to their legal department and they gave me till the end of February to pay it off in full which I will be doing this weekend again thanks to income tax.
My other 2 I am not in default on and I can afford to pay one off in full this weekend. The other I am going to slowly wind down and I AM NEVER GOING BACK!!
I honestly think it is better to go this on your own and thanks to this forum I learned what to say to them to put them in their place when they got nasty with me! It will feel so much better to get this over with!! There is hope people and I wanted to share this with you all because it is hard. But if you keep talking to them and not ignoring them, they are ten times more likely to work with you than to just take you to court even though they do sometimes get nasty and are hard to deal with. Hang in there everyone, it can be done!
Thanks for sharing, I am glad you are getting a handle on things
Thanks for sharing, I am glad you are getting a handle on things.
