PayDay Loan Companies That Will Work With You?

We are also working with T&C and have been for about 3-4 weeks and they are wonderful. Very helpful and they are getting the payday loan companies to work with us and them. I highly recommend T&C. Good luck with your situation Linda, I felt the same way and now don't either!!

will they work with you if you live anywhere or just in a certain area? Thanks!

Scooter - this is the best thing you could do for yourself. call them at 1-800-654-7818. An answering service will pick up and ask your name and address, give them what they ask and have your payday loan info with you. I believe they help in most every state

Linda

I have now been getting calls at work. It's hard for me to talk on the phone where I sit (right next to the President) so, I put these loan comppanies right into my voice mail. Today I faxed them a letter to cease and desist all calls at work and I also revoked any wage assignments they may have on me as well. I explained that I was accepted by t&C acceptance and they will be contacted shortly. I have my paperwork all filled out and will call t&C today to see if I can fax all my debts to them so they can give me an estimate of what I will be paying. I think the $155 retainer is separate. I will have to inquire on this as well.

I faxed everyone that was calling my work a cease and desist letter and it worked! Now I can relax when the phone rings :lol:

Hi Linda,

Be sure to keep the receipts of the certified mail in safe place. You must have stopped receiving the collection calls after your cease and desist letter was received by the company.

Do not fail to make the monthly payments in the program. If any of them is missed, you might lose the benefits that were extended to you. So, try in every possible way to arrange the payments for each month.

Ben, t&C told me to get my retainer to them by western union (Wednesday) She said I don't want my payday loan to end up at the DA's office. How long would it take for something like this to happen? And, what would happen if it ended up at a DA's office.

Linda,

I have given my suggestion in the other thread where you have posted this similar query. Please read my post.

T&C could not make this any easier for someone to send in payments. You can western union which is what I am doing tomorrow. I found a place one block from my job. After that, I can go directly to the western union website. I already set up my profile and have t&C entered under my addresses. If anything, I will be sending double payments. I will not rest or be back to myself completely until this is all paid in full.

Just a question, why would a consolidation company, supposedly knowledgeable about laws.. have an employee mention DA's office...District Attorneys handle crimininal cases... hmm maybe they hire ex collectors and she slipped back into former roles?

I thought that was strange too! Maybe she said CA instead of DA? I don't know...you're right jj, it wouldn't be a criminal charge. I'm not sure for other states, but in Texas, payday loans can't be considered hot checks. The lender knows at the time that you do not have the money in your account...it's postdated, which implies that they funds are not available.

these companies pry on people in need, they are under investigation in several states, they take people in need and use their situation to make money, if you are sure you will have the funds fine, if not STAY AWAY from these companies, you are getting an advance, unless you have extra funds coming you will be back getting advances each pay just to stay even, its a racket, unless its life or death, say away from these companies, they are not good, they are looking for the needy, that is how they make money, 80% end up sooner or later in collections, ruining your CBR, and in some cases costing you more money

When I was young, I remember that no one of us had enough money. We saw people making money by gambling and doing ???other pastimes'. In those days, we also saw the black-market loan sharks that used to offer 50% interest loans.

In today's world, nothing has changed much. We see the payday loan lenders preying on those people who are going through hard financial times. The need to pay back the loan still exists within the next payday. The rates are also exorbitant. Only thing to change is that today, they are being recognized as LEGAL. The apr is exceeding 350%. Thousands of hard working people are struggling and are having tough times to make it till the end of the month. Do not take a payday loan at all. It won't do any good. It will add more pain to your existing worries.

Amen Roxette, having (due to medical issues) fallen into the trap to the tune of almost 5K and haveing cleared all but 600 and working on that one, I agree completely. Stay way, stay very far away

JJ

How much time did you take to come from $5000 to $600? You must have gone through a very restricted budget during this time. Hopefully, you will inspire many others in this forum.

Regards
Roxette

Took me about 11 months. Once my spouse went back to work, we committed most of what she made to knock them down. Even before that though I tried to send whatever I could and tried to communicate with them.Interestingly enough, I originally looked into CCS, but the counselor advised me to work out my own arrangements. he said that Most payday lenders want their money back in 6 months, if you can do that they will usually accept it, (they will scream but wont send ti to collections.)

I found that even Rio Resources and ICS would work with me, although Rio used a scum bucked called ACA and a slime ball "attorney: named Norman Kalina, however even with all their crap, the took what i sent them and they got payed off. The key I found to payday lenders, is send them something. Even if it is not what they want, tell them what u can and will send, then actually do it. be resolute, don't get scared, do not overextend and agree to pay more than u can afford.. remember you haev what tehy want.. money that is owed and they are basically lazy.. the easier you make it (something sent willingly, versus something more they have to work for) is more economical for them.

Sending something as advance is the key on how to tackle the payday loan lenders. They will force you to send in one shot and shout with all legal actions, but perhaps, they also understand that the amount that you stated is all that you can send. You can't send more than that and taking the matter to the court will not help them either. So, give a try. Don’t wait for professionals for payday loan consolidation. They are quite tough to be located now. When you can manage on your own with your hard work, why wait for someone else and waste the precious time.

JJ is a very good example in front of all of us and how he has done it so far. The most important part is the negotiation with the lenders and if you can manage that, the rest of the way will be very smooth. Giving a try won't harm at all.

I have read all five pages of this forum and want to thank everyone for your input. I am pretty much in the same boat as many of you, and the realization that I am throwing away nearly $1000 a month in finance charges alone makes me want to vomit. I am supporting my son and fiancee while he finishes school and have kept this a huge secret from him. Admitting to someone that you are in this much debt to someone who would not understand is too hard to do. Tomorrow I will be changing my checking account number and contacting T&C Acceptance as soon as possible. Again thank you all and I will update you all to let you know how it goes.

JM,
That was the hardest part for me,keeping it from my family,they didnt understand why all of the sudden,I didnt have any money.Ive never been rich,but I could always get buy before the Payday loans.All of the sudden there was no money for food or the needed things in life.Im now in a consolidation program,and although money is still very tight,once Im done with the program,things will be as they were before the payday loans,maybe even a little better,since the credit cards will be gone also.I wish you luck,joining a consolidation program will make your life much better,and I think its great that you are helping your son,I know its very hard to have to let your children down.This board has been a great oulet for me.After getting advice from the wonderful people on this board,I decided to join a consolidation program,and its the best thing I could have done.Here,I can ask any question,and not worry about people judging me,since they have gone through the same type of debt problems.It sounds corny to say that this board has saved my life,but it has,and I will be forever in its debt.(no pun intended) :D

thx for it

I also was ashamed to let my family/spouse know about the payday loan trap I had gotten myself into. I came clean with my husband several months ago and he has been very supportive of me. I found a debt consolidation company that will work with my lenders and it seems to be going okay. I had so many payday loans that I didn't know where to turn. I knew that consolidation was a good answer for me. If you are able to work with your lenders, go for it. Be honest and up front with them and I think many will work with you. Sonic is a hard one though. I was able to work with them because I'm sending payment in full. I decided to pay them off to avoid future hassles. Good luck with them! I've vowed to stay away from these places in the future.

can you talk to these companies and try to pay them a little at a time?

crisejorge,

Talking to your lenders at this situation will be much better especially when you are facing difficulties in paying the debt.

If they call you before you do, it can be expected that they will be a bit harsh on the collection procedure.

Explain your financial problem and arrange a payment plan. They will be willing to work with you and extend some repayment options. They need to understand that you are serious towards paying your debt and some arrangements can ease your repayments.

They will most likely work with you if you call them before you default on the loan. It also may depend upon your account history with a certain company. I have my payday loans listed with a debt consolidation company. Some are easier to work with than others. You can read around the forums to find out further information regarding payday lenders. One of mine that is listen on my debt consolidation program may settle for a lot less that what I actually owe them. They don't charge the highest fees either. They have been pleasurable to work with and very understanding. I should find out more about this today and have this one possibly paid off by next month. Make sure that you do get everything in writing from your lender. It may help you in the future.

thx for it

I have 6 payday loans and the intrest is putting me in the red. How can I condolidate or contact these people to make arrangements for payoffs to stop payment from my checking account. I need help!!

Charles, you can contact your lenders and explain them about your present financial situation. Tell them that after the direct withdrawals are made from your checking account by the company, you hardly have anything left for food, rent and other necessary expenses. So, it will be better if they can accept a lower payment from you during this time and you will contribute more when the financial situation improves.

Also, mention in your letter that you are not able cope up with the present withdrawals made by the company. So, you are closing your checking account and waiting for their response to the payment plan you have offered.

Do your correspondences in writing through certified/return receipt requested. Keep everything documented in a file for records.

We have received a wage assignment for an employee from a payday loan company. The employee disputes this and says the loan is not valid what are our obligations??

Was the wage assignment signed in person? In order for the assignment to legal, it has to sign in person, if it was signed digially, it is considered invaild if I understand the procedure right.

generally you are not obligated to do anything unless it is a writ of garnishment from your local court. In fact, in order to protect your company I would not get in the middle of the issue. What the payday loan company likely sent you is a "voluntary wage assignment" that they claim your employee agreed to. However, such things can be revoked at any time and if not signed in writing, may not be held up in court as valid. If you honor it, and the employee sues the payday lender and the assignment is found to be invalid, your company may owe the money and possiobly damages to the employee. many payday lenders improperly file these assignments and often use them to harrass and scare people into paying outrageous fees. If the payday lender is an internet basde one, there is a good chance that they are operating without a license (if your state licenses payday lenders) and thus the loan could be technically illegal and thus so would teh wage assignment.

In short, stay out of the debt issue unless you are presented with court issued paperwork dealing with a wage garnishment, that way you will have no liability. One more thing, speaking as someone who has been in a payday loan trap, and is now abusiness owner, give your employee some reassurance. These payday lenders are good and causing stress and your employee is probably scared and embarrased, he/she could probably use some encouragement that you will stand by him/her.

I haven't had this happen but am interested in learning more about it. I am so confused about a company getting a 'wage assignment' for an employee. I didn't think that could be done unless it was court ordered??? I know garnishments are court ordered. But what is the deal on these 'wage assignments'?? your creditor gets in touch with your employeer and gets them to start taking it out of your check? that hardly seems fair?? thanks, shirley

When you are approaching a payday loan lender, he will try to obtain your personal and bank information for making the debits on each month. Other than this, he will make you sign a voluntary wage assignment. This implies that you give your lenders the rights to deduct money from your payroll in case of defaults. Wage assignments do not require court orders to be served as it happens in case of wage garnishments. Since this agreement is completely voluntary, you can revoke it any point of time if the standards are not met. Check the other thread that discusses about the procedure involved in wage assignment.

Payday lenders are famous for illegal wage assigments. Some hide it in the paper work if it is included at all. The employee can send them a certified letter to revoke it. You don't have to honor it. JJ is right when they say it could be an illegal loan if they are not licensed in your state. I am digging myself out the payday loan trap right now and this has been very useful information for me. There is great information on this subject in other threads as suggested above.

Mishele,

I am doing consolidation with payday loan companies thru CCCS and today I saw in my account with CCCS that OneClickCash has rejected the proposal made by CCCS.

I know you are using T&C but I'd like to know if you had a similar situation and what I should do and expect next.

Will CCCS make the payment anyway? I know T & C has sent them a payment on my behalf. I don't know if they have cashed it yet because it was just sent a few days ago. I know someone else who has been having problems with this company and they have made regular payments to them as well. Here is what I have done with this lender. First, I sent them a cease and desist letter via certified mail. I said not to contact me at work, my references, and send any correspondence to me in the mail only. I know they have received it because I received the card back in the mail. Also, included in this letter, I asked for an itemized statement of my account, to show me what I owe, the breakdown of what I owe, (including payments, finance charges, etc.). I checked with my state and they are not licensed to loan money here. You can do this with your state's department of financial institutions. I am able to check online to see if a company is licensed in my state. I also included in the letter that I wanted proof that they are licensed to loan money in my state, to include the license and Registered Agent. They are not licensed in the state of Nevada either. They are a fly by night outfit. They haven't turned me over to collections yet but I've heard of this happening, even after payment was accepted through T &C. I'm just waiting on that day to arrive. I also included in the letter that they have thirty days from the date of receipt to respond to my letter with the information requested. There is a copy of a cease and desist letter in the forum. I just changed things around to fit my situation. I also stated that if the information was not received in this time frame, then I would file consumer complaints against them with the appropriate agencies. I listed the agencies in the letter. I haven't heard anything back yet but it's only been a couple of weeks. Believe me, you have rights in this situation. Feel free to pm if you have more questions.

I am finding also that dealing with these companies, they respond better to letters. Some don't respond at all. I've had to get some AG's offices involved with other lenders and then they back off. I don't understand how companies who are operating illegaly, have the nerve to make threats and harass people. I guess they aren't used to people know their rights. It can be a frustrating situation but I find that if I am two steps ahead of them, it's a big benefit to me. It's helped me settle two accounts already. I received a big refund from one lender because I knew they had overcharged me. I just had to mention that my next step was to contact the Attorney General in their state.

Be careful with OneClickCash, they are not easy to work with. They turned me over to Pinion Management and now I am quick collecting payments to them. PM me if you need to and I can give you more details.

I just got off the phone with CCCS and was told I should not get involved in the negotiations for the first 3 months and let CCCS handle it. Rejected proposal in the first three months does not mean much and most of these payday lenders will eventually accept the proposal made by CCCS after they see 3 payments.

I will get more details from my own counseller tomorrow. I will keep you all posted about how CCCS will handle them. I might start a new thread though.

Another interesting thing: once the payments were distributed among the lenders, I started getting voicemails at work from most probably collectors. It had been quiet for a while! I was told to tell them I am in the consolidation program and they will get contacted by CCCS.

I think that is normal until they receive three payments through your debt consolidation company. That is what my debt counselor told me from T & C. I hope things work out for you. Keep us posted.

what is the number so that i can get into contact with you?

Dorothy, I guess you are searching for a payday loan consolidation company. Please become a member of this site after filling the registration form at the home page. Once you are done, PM me and I will be glad to send you the information.

If you want to contact this company, the number to call is 800-601-1579

I have 5 pay day loans out, I need help taking care of them and I am not sure what to do.

Julia, now that you are struck in the payday loan mess, I will suggest you to call the lender and explain your financial problems. Tell them that you are unable to pay the fixed amount and would like to get it reduced. Propose a payment that sounds realistic and you will stick to the plan. They will most probably work with your payment arrangements. If they are not willing to work with you, take help of some consolidation company that does payday loans.

DO you have an address for MyCashTime. I need to send a payment. THey want me to send my payments by Western Union or Money Gram and I can't do that due to the cost. Thanks for your help!

Have you called their toll free number? Won't they give you an address?

What state are you from? How long have you had the accounts and how much have you paid on them, you may be entitled to a refund on some of them. You need to get your state law at paydayloaninfo.org and see what your state says about payday lending. Lots of people on here have gotten refunds from paying and paying and paying. If you say what state you're from people in the forum will be happy to help you out. Also list the total amount of the loan for each company and how much you have paid so far. You may be surprised.