Regular Contributor
johnsj21
Posts: 179
Registered: ‎09-23-2008
Re: PayDay Loans--Help!

I feel your pain.  My advice....close your checking account and open a new one immediately.  You need to pay your day to day bills more than you need to pay those sharks!  If you close your checking acct immediately they won't be able to draw the payments.  Once they realize your payments were returned they will start calling you like there is no tomorrow - when that happens CMRRR a cease and decist letter and ask that all communication be via US MAIL or Email (since most deal with email).  Next step  - contact them and ask them for a payment plan, but DO NOT GIVE THEM YOUR NEW CHECKING ACCT INFO - tell them you will only pay them with certifed funds like cashiers checks or western union. 

 

I've been through this and I am still going through this - DH lost his job at the beginning of the year and we needed money to pay our bills and we got stuck in the same cycle as you.  Only 1 of the loans actually went to collections so far, but I'm finding that all they want is there $ and now that we are doing better financially I am able to strike deals with them for less than the full amount owed as long as I give them a lump sum.

 

Good luck!!!!

9/26/08 TU: 528 EQ: 558 EX: 560
11/7/08 TU:584 EQ:601 EX 600
7/21/09 TU:636 EQ:626
12/27/11 TU: 675 EQ:680