store front payday loan trouble

Date: Thu, 07/22/2010 - 09:36

Submitted by anonymous
on Thu, 07/22/2010 - 09:36

Posts: 202330 Credits: [Donate]

Total Replies: 3

I have 4 store front payday loans, I had lost my job and was unable to pay them, then I was put on social security disability, which they could not garnishee. I withdrew my retirement and bought a used car, they found out and called today after many many months of being left alone, and told me they heard I bought a new car and expected me to start making payments now. how in the world would they know I had a car? they said they were taking me to court and let the Judge decide if I would have to pay, by the time I pay my living expenses I have no money left. should I put the car in my Mothers name or what? I can't even afford bankruptcy.

If your debts were cut into 40-60%, would you be able to make th

If your debts were cut into 40-60%, would you be able to make the payments?

If yes, perhaps debt settlement is the best solution (even though it would harm your credit score). If you do decide to proceed with debt settlement make sure you are paying absolutely no upfront fees.

lrhall41

Submitted by vestpert on Tue, 09/13/2011 - 20:14

( Posts: 2 | Credits: )

You haven???t mentioned the name of your state. So, it??

You haven???t mentioned the name of your state. So, it???s very difficult to say whether or not pdl companies are licensed in your state. If they are not licensed, then you are required to pay only the principal amount. Illegal lenders won???t be able to take any legal action against you. If the lenders are licensed, then you can negotiate with them. You may try to arrange a better repayment plan with them. You should check the SOL period in your state. Once it has expired the lenders can???t take any legal action against you.

lrhall41

Submitted by sandra.nelson15 on Wed, 09/14/2011 - 04:22

( Posts: 129 | Credits: )

well first

how much was the car?they are stupid in assuming you got a new car when you didn't.sounds like they pulled your credit to get the info on the car.however since you are on SSDI you are right they can't garnish.it's also very iffy if they can do anything with the car.i doubt it as i think they are trying to throw that out there in an attempt to get you to pay.now to sandra.please read the thread before posting as no state will have storefronts that are illegal as they would be required to have license so the loans are technically legal.again though i doubt a used car can be taken after the fact.meaning you got the car after you got the loans.they can't touch it.

lrhall41

Submitted by paulmergel on Wed, 09/14/2011 - 05:18

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