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My story and question

Date: Thu, 07/13/2006 - 09:20

Submitted by Cyd
on Thu, 07/13/2006 - 09:20

Posts: 10 Credits: [Donate]

Total Replies: 5


I have simply made a mess of my families finances (not the first time-we had to declare bankruptcy in 2000.) Anyway, after a very close family member died about a year and a half ago, things started going down hill quickly. My oldest child had to have kidney surgery and my insurance does not pay about $3000.00 of that. Bought a house and a car that I can't afford, borrowed a lot more money (I think we owe close to $30000 in just unsecured debt not including the $8000 student loan) and then started on the payday loan mess. I did a debt consolidation program in May but as I don't get paid in June or July, I decided it was to my best interest to pay the mortgage, house, car insurance, basic stuff and food. Nothing on my credit report is as important as just taking care of the basic family needs. Therefore, I can't pay the debt consolidation company the amount needed for the credit cards nor the car payment. The debt company won't touch the payday loans so I put stop payments on them and tried to work out payment arrangments. I had seven pdl's: 2 paid off and five to go. I've sent one a letter in regards to NC laws and I've overpaid them by close to $700.00 since February. We'll see what results I get on that. Two would not agree to any type of settlement. I've sent letters to both companies including no call and payment arrangments. One deadline was June 13 and one June 30th. The one I'm truly worried about is Cash Transfer Centers and I've received absolutely no response. Anyone know how long it takes for the bomb to drop on these payday loans once you send the letters?

Thanks for letting me vent and answering my questions. Today is one of those days that I'm nervous and scared and feel like I'm going to have a stroke at the age of 35. Usually, I try to be grateful for the good things that I do have.


Don't get so much worried about Cash Transfer Centers if they are the main reason of your discomfort. The count of their violation is endless and none of their claim is biased. If you aren't aware, Cash Transfer Center is not licensed to do business in most of the US states. They have broken many laws in Canada and now they have started their illegal business here. It's good that you are not getting any call from them. If they do so, you must ask them to present the account in proper shape with all the valid interests as per your state laws. You might have taken a loan from them but you should repay them with the valid interests and fees. People have complained against them for putting excessive charges and making the total amount huge. Check your state laws and figure out how much can be the total amount permissible by laws.

http://www.debtconsolidationcare.com/forums/about11400.html

http://www.debtconsolidationcare.com/forums/about10998.html


lrhall41

Submitted by anthony on Thu, 07/13/2006 - 10:56

( Posts: 456 | Credits: )


Have you changed your bank account number? If not, I would advise you to to go ahead and do that. That will stop them from taking money out for sure. Put these in the back of your mind if you can and focus on taking care of your familie's basic needs. Most of these companies are just out breaking the law anyway. I'm sure that's true in your case. If you get the account information changed, then you are just protecting yourself.

I have stayed up many nights just trying to figure out a way to juggle our money and cover our checking account. It's caused problems with my marriage because I'm so grumpy and I feel like crying all the time. I have to say the lowest point in my life was right after I had my little boy last year. I was just to the point of laying in bed, not wanting to get out of bed, not caring if I woke up. Just basically not caring about anything but what was going on at that moment. I was sitting in my house, enjoying that little boy, with the consequences of what is going to happen in the future financially to my family. I was just ignoring my problems. The best way to win is to fight back. You can only climb up when you are feeling that way.


lrhall41

Submitted by Gallopy on Thu, 07/13/2006 - 11:07

( Posts: 41 | Credits: )


I disagree to some extent that closing a bank account at this point will help. The lending company is doing nothing illegal at this point of time. You need to have a proof which forced you to close the bank account. If you close the bank account first, things might be put against you. It will reflect that you were trying to avoid paying the loan you had taken earlier from the company. I say you must close your bank account only after you have proof of an illegal activity in your bank statement. Anyone with me, here!!


lrhall41

Submitted by andyyoung on Thu, 07/13/2006 - 12:22

( Posts: 451 | Credits: )


I have looked over this and I agree with you Andy. The only way the bank account should be closed is if you have found the PDL's to be doing something wrong already. Not before. I see what you are saying. I'm glad that was corrected.


lrhall41

Submitted by Gallopy on Thu, 07/13/2006 - 12:26

( Posts: 41 | Credits: )


Anyways Gallopy, don't take any offense from me. I am happy we both concluded at the same line with peace. :) I read your posts and it makes me happy to feel the abundant information we gain everyday. This is a common platform where we get to know new things and share it with others. It is good enough to discuss the queries and get the right opinions from everyone. :)


lrhall41

Submitted by andyyoung on Thu, 07/13/2006 - 14:19

( Posts: 451 | Credits: )