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What happens if I don't pay the payday loans

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i have 3 payday loans of 600 each I have been paying on them for 1 year 400 per month of interest. I cant see to ever have money to pay them off. what happens if i dont pay them and then just start making payments? Will I go to jail? I live in Houston TX




polly
Debt Samaritan
Posts: 1714
Credits: 25320.05

Sub: #1 Are they internet based lenders or a store front lender where yo
Sat, 06/24/2006 - 15:13

Are they internet based lenders or a store front lender where you used a check to get the loan?




Unregistered

Sub: #2 payday loans
Sat, 06/24/2006 - 15:18

I have one with Advance America, one with a checking cash place called Ace and the third i dont know the name off hand. I just wish I could pay them in payments instead of 400 a month and I never finish. Because of this I am now following behind on other payments any advice I thank you




polly
Debt Samaritan
Posts: 1714
Credits: 25320.05

Sub: #3 http://www.occc.state.tx.us/pages/Legal/Laws/reg/subf.html
Sat, 06/24/2006 - 15:27


Gretchin
Debt Samaritan
Posts: 484
Credits: 8548.05

Sub: #4 Hi Denise, I understand your situation. Don't fall behind in
Sat, 06/24/2006 - 15:27

Hi Denise,

I understand your situation. Don't fall behind in your utility payments, rent, food etc. You need to talk to your lenders and make them aware about your financial problems. Arrange some payment plans and stick to it. If you are unable to do it on your own, talk to a debt counselor for taking care of these accounts. He will negotiate with your lenders favorable for you. You can do a free sign up in this website and talk to a consultant for help.




polly
Debt Samaritan
Posts: 1714
Credits: 25320.05

Sub: #5 The link for that.
Sat, 06/24/2006 - 15:30

http://info.sos.state .tx.us/pls/pub/readtac$ext.TacPage?sl=R&app=9&p_dir=&p_r loc=&p_tloc=&p_ploc=&pg=1&p_tac=&ti=7&pt=1&c h=1&rl=605




polly
Debt Samaritan
Posts: 1714
Credits: 25320.05

Sub: #6 So, no you won't go to jail. I guess just ask them if you can s
Sat, 06/24/2006 - 15:32

So, no you won't go to jail. I guess just ask them if you can set up a payment arrangement.




Unregistered

Sub: #7 payday loans
Sat, 06/24/2006 - 15:38

I will do so. As a matter of fact I will do that Monday afternoon. Should I notify my bank that there will be a total of 3 returned checks? I am so thankful that I was on the net and I came across the web sight.




polly
Debt Samaritan
Posts: 1714
Credits: 25320.05

Sub: #8 They may not cash your checks. You will have to wait and see wh
Sat, 06/24/2006 - 15:53

They may not cash your checks. You will have to wait and see what they will work out with you.




andyyoung
Debt Samaritan
Posts: 451
Credits: 6531.7

Sub: #9 If you can explain the situation to your bank, they will be caut
Sat, 06/24/2006 - 15:54

If you can explain the situation to your bank, they will be cautious before the checks get returned. Don't tense yourself over going to the jail. Legally, this is not possible. If the debt is legitimate, the company will try to file a case against you and recover the money through garnishment. It must be governed under the state laws. Try to talk to your lenders and assure your payments if some extensions can be arranged.




Lorri

Posts: 1722
Credits: 22466.496465317

Sub: #10 Denise---Can you stop payment on your checks or automatic debits
Sat, 06/24/2006 - 17:03

Denise---Can you stop payment on your checks or automatic debits or withdrawals?




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