What happens if I don't pay the payday loans

Yes, we have to get out of this payday loan debt trap! Over the years, I have had and paid off several payday loans. I live in Texas. At one time, I believe that I had about 10 - and thank God that craziness is over. I now only have 4 loans that I am in the process of paying off. Most of them allowed me to make arrangements once the debit or check returned from the bank. When I first started getting payday loans back in the late 90s, I remember having a check return and getting a note from the company stating that I would be charged with "theft by check," and I lost many nights of sleep thinking that I could be arrested because of that situation. When it came down to it, the company allowed me to make arrangements and pay it off, and I got the check back. Now (in different states) these services are regulated, and consumers have more protection. The point is not that the people are trying to get out of paying the money back, but we are trying to avoid paying quadruple the amount we borrowed. That's what happens once you pay renewals over and over again. I have been doing even more research lately and asking more questions because I have 2 loans that I want to go ahead and pay off, and of course the companies want to give a person a difficult time about setting up a payment arrangement. One is ACE, I have done business with them for years, and of course they try to give you a reply such as "file the case," I have spoken to the Office of Consumer Credit Commissioner, and they basically said that they cannot file any criminal charges on this type of loan. WHAT CAN THEY FILE? Basically, I had to close my account because an unauthorized transaction had gone through my account and my banking institution required that I do so in order to prevent that from occurring again. So the ACE debit returned because I was not in town either on the date that I needed to go in and pay it. The original prinicipal amount of the loan was $1,000 and the fees were $208. With the NSF charge and late fees, the total became $1,300. At this point, I have paid $650 and have a balance of $650. I was scheduled to pay the remaining amount on 10/31, but the funds I thought I would be getting are being delayed. I called back and tried to modify the payment arrangement, and the rep basically told me that I couldn't change anything until after the "default" date - meaning - if I don't make the payment on 10/31. I have already drafted a letter that I plan to send certified with a payment arrangement that I can keep in correlation to my paydays. It seems that they would prefer to allow me to do that instead of "filing" it, or sending it to a 3rd party collection agency. I just want clarification, etc to see what ACE normally does, and what they can do. I have read the related information in the Texas Finance Code, and know that wage garnishments relate more to unpaid child support and defaulted student loans, but not consumer loans. PLEASE REPLY.

I've gotten loans from both Ace and Advance America; if you call them up and let them know your situation their willing to help you to payoff your loans...in some cases they'll only charge you the finance fee. Call them up pesonally go in and talk to them; don't sit on it or they will continue to tag on fees.

Could someone please check out Payroll Loans Direct. They are managed by a company that says they are in Malta.That was the other loan I was wanting to discuss in the earlier post. Basically, once you default on their loan, you have until your next payday to pay it off in full. They say that they cannot even offer any payment arrangements, and that if you default after that date they send it to a 3rd party collections agency. I found that out after asking many questions the other day. The also say in the contract that a salary assignment is possible, however that is illegal in Texas, and I have drafted letter fro them as well retracting that part of the contract. I am going to send a partial payment on it on the scheduled date, and see if because I have been such a diligent customer for the past several years if they will work with me. I mean, hell, I can't even imagine how much money they make off people. Say I have renewed a loan at $300 a month for 60 months, that's $18,000 - can you imagine if I had known how to pay this off years ago - how much money I could have had saved! It is bringing tears to my eyes as I write this. But, it was their scare tactics or the fear that they'd contact my employer that just kept me paying and in this trap. I also put a statement in the letter that I am sending them not to do that either. There is no time like the present to take the bull by the horns and pay it on off. I definitely will not be getting anymore of these things!

Right now I have a loan through Loan Shop. I'm not defaulted on it. They've taken out the first fee...$30.00. Which doesn't cover anything else, like the balance. I only barrowed $100.00.I know the % is high...was in a VERY tight spot at the time.

I am in SC and i have defaulted on my loan. they called me today at work and said I have until noon tomorrow to pay 300.00 or they will take legal action. What should I do. The place has closed where they used to be and no has contacted me for 6 months until today. The place is check max. i can't afford to pay them. I renewed 3 or 4 times but not sure how much i paid in fees. what can i do.

They more than likely will take you to Small Claims Court. Upon judgment, you will be responsible for the check, late fees, court fees and statutory interest. If you fail to act on the judgment, they will attempt to garnish your wgaes, which will incur additional fees.

Unless the payday loan was illegal in your home state.

What will happen if i stop paying my pay day loan?

which pdl are we talking.how much was borrowed and how much paid back?is this a storefront or internet?last what state are you in?we can answer your question if you can anwser mine.

Hello: I really liked this website, and here is my dilemma, i currently have a loan of 1000.00 with finance it is 1200.00. I have borrowing and paying back and forth this is the first time that i can not continue paying. What can I do. It was from a storefront CSO lending. I want to do like the others do, close my account, but I dont want them calling my work and speaking to my boss, how embarrasing. What will happen?

Sorry.. i am in texas

I have 3 payday loans which are all store front. I have rolled over all three loans several times and have been paying just interest on these loans for a long time. I am paying close to 500 a month in loan interest and havent even touch the principle. I am falling behind on all my bills due to this and just dont know what to do. My hours at work have been cut due to the economy, and i have another child on the way that i also have to fund. I live in delaware. One loan is with advance america for 500 with fees of 85 which has been rolled over several times. One is with cash advance plus for 400 with fees of 80 which has been rolled over and one with EZ loans for 400 which has also been rolled over. i am so stressed out about these loans and i fear what will happen if i dont pay thses loans. please help......

I took out a payday loan with cashnet usa and it has now charged off because i was not able to keep up with the payments. now i have a 3rd party company, tri-financial and assoc, calling me saying that if i do not pay them they will suspend my drivers license in texas and sue me. is this true?

may i make a suggestion? this thread is really confusing. everyone who needs help should start a new thread and provide us with the following information:

List the companies you have the loans with and whether it is a store front operation or an internet operation.


List the original amount of the loan for each account


List what you have paid so far for each loan.


List what state you currently reside in.

I have gotten this from a sticky on the main page.. it will make us more helpful because every state has different laws and there is no general advice for payday loans.

I lost my job and I can't pay back 3 payday loans 575 each cause of Christmas. What would happen if I can't pay back the loans in
Colorado? And is there a way out of it with out going to jail?

Hi Jared,

What are the names of the companies?
Are the internet or storefront?
How much have you paid back including any fee's?

I will post the law's for Colorado in a moment...

I have loans for 3 store fronts.
EZ Money
America Advance
Quik Cach

You will not go to jail, there are no prisons for people in debt. If that were the case we would all be there. You are in terriffic hands here with Dawnlango7 she will help you every step of the way. Hang in there.

I forgot
EZ Money 464 to payback
America Advance 575
Quik Cash 575

My biggest question will this screw me getting into the Army.

Hi Jared,

I'm not very good with store fronts, I've never had to deal with one. The will be legal in Colorado and I believe that you can set up a payment arrangement with them. I'm not sure if you have to default first or not...

I am going to email another member who has experience with storefronts and see if she can help.

Jared, I am no expert but I do not believe payday loan debt will make the army turn you away. I think the military is very much aware how these loans can hurt people, thats why all the new laws were put into place for military families in regards to PDL's.

I do not show any of your store fronts as members of CFSA but that does not mean they don't offer an EPP.

An EPP is an extended payment plan that allows you to pay off the original loan with four equal payments over four paydays.

Here is more information about EPP.


As I said they are not a member of CFSA but they may still offer one. You need to contact them before you default and ask if they have this option. They may not offer it over four paydays but some will offer it over two or three.

I had not heard of the military turning anyone away due to debt, but kfstaff24 may have more information on that. The main thing is that once you go "active", you fall into a different class of borrower. The Defense Bill signed a few years ago prohibits any lender from charging more than 36% apr on credit/loans. Due to this, most lenders handle military personell differently by not approving a loan and some will even postpone repayment until the active status changes. Call the lenders and explain your situation. You will have different options, but less chioces for borrowing when you are active. As stated in other threads, a legal lender will be more conscious of the situation than an illegal lender due to the lack of anonymity and licensing requirements in your particular state.

anyone ever deal wit 1000 cash over nite .com

This is for Jared92251 if you're still having problems. Storefronts are legal in Colorado. I'll post the state law for you. However, I noticed your storefronts are American Advance (could this be Advance America?) and Quik Cash and EZ Money. If indeed it is Advance America, they are a member of the CFSA and Quik Cash is a member of the CFSA (they go by QC Financial). If you haven't already defaulted, you can go to those 2 storefronts and invoke the EPP with them. I'm not showing EZ Money as a member though. However, on another note, in Kentucky (I'm not sure about Colorado), you have to sign something regarding if you're in the military or not. There's something about not lending to military people, so that might help you regarding that problem. I'm not sure. Just my two cents thrown in here! :D

You will find the Payday loan laws for Colorado here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

I HAVE A LOAN WITH CASH STORE FOR 1500 NOT INCLUDING FEES WHT CAN THEY DO TO ME TAKE ME TO JAIL PUT ITY ON MY CREDIT OR WHAT

We have 4 payday loans...
checkngo 770.45 with fees (off and on for 4 years)
advance america 1204.23 with fees (off and on for 4 or 5 years)
Cash express 602.56 with fees (about a month)
Ace (online) 423.09 with fees (off and on for 4 months)
we're in Texas and are meeting with an attorney next week to check into bankruptcy because of this debt. We're in a circle we can't get out of. We pay $298 in fees one week and then $240 the next week. Around $1100/ month in fees alone. We're falling behind with everything and this has to stop. As of now we're current, checkn go and cash express are supposed to come out Friday, but I've closed our bank account. We have to pay our other bills too. Is bankruptcy the right choice? I don't know. How long until these places will set up a payment plan with you? I've heard 60 days. For those of you who have done this are the payments reasonable enough that you can pay your other bills too?

i owe U.S fast cash its a internet lender 300
i owe mymoneynow 300
and Pack managment 200 what should i8 do i dont have the money and my job is through a staffing agency and my work has cut down alot please any info will help i live in fl

opps its not mymoneynow its mycashnow thanks and sorry about the typing errors

well jmf.if you provide the following.since you are in FL.

how much borrowed from each pdl
how much debited by each pdl total,include fees and rollovers.

i'm pretty sure these are not legal,so you owe the principle borrowed.nothing more.if any fees were taken out those go toward the loan.

well i borrowed 300 from us fast cash and now owe 487
i borrowed 300 from mycashnow and i owe like 485
pack managment i borrowed 200 and i owe 285 i really need help thanks for any info

did these places debit anything?if so please list it.if anything was debited take that off the loan balance.let me give you an example.

you borrowed 300.00 from USFASTCASH.they debited two 90.00 payments.you owe 120.00 that is it.please look and see if these places debited anything.you only owe the amount borrowed.that is it nothing else.

yeah from us fast cash mycashnow and pack management my bank account is 941 dollars in the red mycashnow autodebited my account 4 times in a row today pack managment debited my account 3 times in a row today and us fast cash has not done anything what should i do i am inway over my head i called my bank and they put a block on my account but only until February 15 they said i had to get my account out of the red before they could close it and open me a new one ugghhhh im so stressed Ive been drinking alot more i just need some help thanks for any further info sorry about my grammar i am pretty drunk at the moment

yeah us fast cash recieved 90 dollars from me so i only owe them 120 dollars right???

you owe 210.now get yourself together and look into how much these places have taken total.anything and i mean anything debited goes toward the loan.i would also file AG coplaints against each of these places.if you owe you should be able to pay in your terms not there's.also FTC complaints.

I contacted the internet zip19 to make payment arrangements for a loan of 580.00 I live in Mo they said I signed a wage attachment and they would send it to my employer if I didn't pay it in full on 1/25/09 and if so how long before they can do that?

Its a voluntary wage assignment which can be revoked in writing at any time. Check the sample letters to the right side of the page for an example. Make sure you inform your payroll department as well.

Ok guys and gals...here is the real story...

1) Places like Ace, Advance America, Check into Cash, etc.. are not taking ANYONE to small claims court or garnishing wages and here's why: The MOST they will lend a person is $500 (and the two week interest is $85-$95) so you're looking at WORST case scenario owing them $595. Those "storefront" places as they're referred to DO NOT TACK ON INTEREST EACH MONTH! So whatever you owe them after your default is FINAL. They are NOT going to spend $5,000 on a lawyer or spend $1,500 in small claims court costs to try to "recover" $500+ dollars from you. They'll bug the crap out of you for a few months and then after about 4-5 months they'll write it off. Yeah, I guess it will ruin your credit; but chances are if you're going to scum bags like these then your credit sucks anyway. LOLOL! These people at Ace and Advance America should be ashamed of themselves for praying on people that desperately need money! And charging ridiculous interest on top of it! As far as the internet; they'll just go away quickly and not bother you- but they will report you to a bureau that will prevent (blacklist) you from ever getting a loan from anyone on the internet. So if you're going to screw them...you better do it all at the same time. Also, fraud is EXTREMELY DIFFICULT to prove! It's like two cars hitting each other in a parking lot and there are no witnesses; it's impossible to prove you INTENDED to screw the creditors. Lastly...BEWARE OF THE PAYDAY STORES THAT GIVE YOU A SCHEDULE OF PAYMENTS! THOSE ARE THE BIGGEST CROOKS OUT THERE!!!! THAT'S WHEN A $600 LOAN CAN TURN INTO $2,400. THOSE **** WILL TAKE YOU TO COURT AND GARNISH YOUR WAGES. (KING OF CASH IS ONE OF THEM) THEY DON'T CARE ABOUT YOU LOSING YOUR JOB OR NOT BEING ABLE TO EAT- THEY JUST WANT YOUR MONEY!! Hope this helps anyone who is concerned about creditors (and no; you can't go to jail for not paying someone)

[color=Red]****Adult term removed - Jason[/color]

What if i just don't pay them? I borroewd like $5,000 from 12 different lenders *3 on line and 9 that i went to their local store. I borrowed money when I had a job and now I do not have a job so I can't pay. how can they garnish my wages when i'm not working? if i find a job in the next few months will they find out who i work for next and take my wages? please help answer my questons.

Sammy Winder - Is your bank acount closed?

If not the PDLs will still try and debit your account.

Yes, my bank account is closed and they cannot get any money from me. They keep telling me that they're doing to charge me $25 each time they try to deposit it (up to 3 times); but if i'm not going to pay them anyway then who care about the other $75

Sammy - What state are you in? what is the name of the PDL?

I'm in Missouri. The company is Advance America. The girl is a total bitch and says that I better pay them or they will garnish my wages if they can't get it our of my account

Sammy - Have you already defaulted on the loan?

They can legally start a civil court case against you.

They must file in civil court. That would start a court hearing and you would be summons to appear from the court. They can get a judgement to garnish your wages.

I borrowed 760 from ACE. They called me today and told me they were taking legal action w/ a NSF...implying that there would a warrant issued for my arrest...I am in Texas...can they do this? The check is just a blank VOIDED check.

Just to clarify...

Typically, the big 3, Check Into Cash, Advance America, ChecknGo, do not use small claims. AA has been known to but it is less frequent of late.

There are some PDL's that use a simple interest model, but most work on a flat fee.

Once your account goes to collections with most companies, they will continue working in-house for quite a while via the telephone and an auto-dialer.

You will not be arrested for a PDL. This is a civil matter, not criminal.

I have 2 payday loans with check mate in SC I live in NC I have renewed these enough to pay them back 3 times but can't get enough to just pay them off what happens if I can't keep renewing them :cry:

Did Check Mate know you were a resident of NC?