topic Re: Cash Store Installment Loans in Personal Finance

Cash Store Installment Loans

Anonymous — Sat, 28 Feb 2015 05:06:09 GMT

Are Cash Store installment loans a bad thing for credit? I am trying to pay back all of my collections. The amount, I can recieve for an installment loan I would be able pay all my debts in full. Is this a bad idea? I don't think I could qualify for a personal loan to do this, however I know I could handle installment loan payments.

Re: Cash Store Installment Loans

Imperfectfuture — Sat, 28 Feb 2015 11:05:35 GMT

Only if the collections agree to delete from credit report. Very important. If they don't, it updates as paid, and does more damage. Get to work next week, get verbal, written agreement to pay for delete (PFD). They will want their money now, say you are waiting for your parents to help out, or something like that. If they only give verbal agreement, get time and date called, name of agent, ask to speak with supervisor to confirm, name of supervisor, then have date of payment handy.

I know this because I have paid for delete my collections. Otherwise, only get the loan amount for those that will delete. Be prepared to file disputes with credit bureaus including your documentation for any collections that don't delete. Also, file disputes with the BBB if they don't delete.

Re: Cash Store Installment Loans

Anonymous — Mon, 02 Mar 2015 03:52:41 GMT

So, should I not pay off a collection of they don't remove it. Me and my husband are planning to purchase a home at the end of this year. So that's why I am wanting to pay stuff off now thinking it might look better from a mortgage lenders point

Re: Cash Store Installment Loans

Anonymous — Mon, 02 Mar 2015 20:04:51 GMT

@Anonymous wrote:
So, should I not pay off a collection of they don't remove it. Me and my husband are planning to purchase a home at the end of this year. So that's why I am wanting to pay stuff off now thinking it might look better from a mortgage lenders point

If a home at the end of the year is a goal I would get busy. Some will be more cooperative than others and persistence is your friend.