TX Storefront PDLs - Help!!!!
Date: Thu, 08/12/2010 - 04:21
I tried to get a signature loan to pay off these and was declined promptly. I wrote checks to all except one (CashStore) from acct with direct deposit. I have to default on some of these PDLs this week. This means they will deposit checks. I won't have money in the acct. Returned check fees, NSF fees, etc.. I will be in deeper hole.
I don't want to do anything illegal. Should I close the acct and move my DD to another bank acct for the time being so I have some money to live on? What should I do?
I want to negotiate a payment plan with these PDLs. Anybody has done that? How?
ChecknGo 1500
Advance America 1000
EZmoney 700
1st Cash 1300
Ace CashExpress, 400
Speedy Cash, 550
PLS, 1500
CheckintoCash, 600
Cash Store-, 1300 on every 2 week payment schedule.
Some of these are members of the CFSA (Community Financial Servi
Some of these are members of the CFSA (Community Financial Services Association of America), you can check the link below to see which of your lenders are listed as members:
http://www.cfsa.net/MemberList.aspx
Also keep in mind that just because they aren't listed doesn't mean they aren't members, to find out for sure you may need to give then a call and ask.
This is important because as members of the CFSA they are required to offer you an EPP (extended payment plan), but they won't tell you about it, you will have to ask for it. As soon as you sing up for an EPP the interest stops and you will pay off your loan in four separate payments, then you will be done with them forever! You also need to know that you MUST ask for the EPP BEFORE you default, that is very important, read about the EPP at the link below:
http://www.cfsa.net/public_education_campaign/guidelines/guidelines_extended_payment_plans.html
Shazzers, thank you for the info. Does EPP means more interest
Shazzers, thank you for the info. Does EPP means more interest to pay as it is extended?
#1. I called local CCCS and they will charge $50 setup fee and $30 monthly for a service- I pay CCCS and CCCS pays the PLS. Unless they can negotiate the lower interest on my behalf, why should I use their services using $30 each month?
#2. Could you advise me on closing the checking acct?
Thanks.
Quote:Originally Posted by AnonymousShazzers, thank you for the
Quote:
Originally Posted by Anonymous Shazzers, thank you for the info. Does EPP means more interest to pay as it is extended? #1. I called local CCCS and they will charge $50 setup fee and $30 monthly for a service- I pay CCCS and CCCS pays the PLS. Unless they can negotiate the lower interest on my behalf, why should I use their services using $30 each month? #2. Could you advise me on closing the checking acct? Thanks. |
Have you tried to locate a non profit Consumer Credit Counseling Service, that is what I would do.
I wouldn't close that account, instead place it on deposit status only then you can work something out with these lenders, I would also inform them this is your plan.
The interest stops as soon as you sign up got the EPP.