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I don't know what to do.

I've read many threads on this website & I'm hoping you all can help me with some suggestions.

Here's what I'm facing.
I live in Washington State.
I have 7 PDL's out. 5 are Storefronts & 2 are Internet.

Storefronts are:
Money Tree - Original Loan $600+Int of $85 = I owe $548.00
Ace Cash Express - Original Loan $650 + Int of $90 = Owe $740
Cash Store - Original Loan $700+ Int of $95 = Owe $795
Allied Cash Advance - Orig. Loan $700+ Int of $95 = Owe $795
Cash in a Flash - Orig Loan $500 + Int of $75 = Owe $575

Internet Loans:
PayDay One - Orig Loan $700 + Int of $95 = Owe $795
Think Cash - Orig Loan $750 - This seams to be maybe an installment loan - Supposed to pay $88.34 every 2 weeks for 24 weeks. This is a brand new one.

I have been doing most of these loans off & on for close to a year now.

They are all coming due on July 25th & I don't have the money to pay them. I have $1,376 due on that day & I have $450 coming in.

I'm lost, I don't know what to do.
I've been falling behind on all of the bills including the bills for my fiance' (I take care of all the finances for both of us). But everything is so far behind that we're going to lose everything.
I've been sooooo embarassed about the mess I've made of everything that I have not shared with him. If he found out, he would kick me out.

I've read where you guys suggest making payment arrangements & those are available to me but the payments they want are so high that I can't do that. The payments would be more than I make in a month & I'm already behind on all of my other bills.

I have no choice now but to let all of these loans default so I went to my bank today to close my account. I talked to the gal there & explained (partially) my situation. She said I would have to wait until a couple of ACH's went throught that were for credit card payments I had authorized. She was not very helpful at all. She sure didn't act like she wanted me to open another account at their bank.
So, I went to a couple of other banks to try to open an account. Both would not open one for me because I am in the middle of a Bankruptcy (I have one year left before it is over).

So, what do I do? Do I close down my bank account, default on the loans & try my best to work with the PDL's to pay off my loan?
If I do that, how do I get my paycheck. It is through direct deposit & if I can't get another bank account, I could have them send me a check but how do I cash that? How do I pay my other bills without a checking account?

Oh, God......I don't know what to do.....

Anyone, any advice at all????




Payday loans are itself pain in the neck and are predatory in nature. In such a case you can close your checking account. In such cases the pdl companies threaten to sue you...but these are only pressure tactics.

It may also happen that ACH transaction has pressurized your bank to reopen the closed account. In such a case you can explain the entire episode that led you to take such extreme step. Please go through the first 3 posts of the page: - Closed account - now what?.

Another viable solution in such a case is debt consolidation loan which'll help you to get out of this debt.

Sub: #1 posted on Tue, 07/15/2008 - 10:25

phoenix phoenix
Moderators
(Posts: 1444 | Credits: 275.38)

Thanks, Phoenix.

I've also read a lot on the site about T&C. Do you or does anyone out there have any updated information on them. A lot of the threads I've read are quite old.

Are they still in business? Do they have an internet site yet?

Sub: #2 posted on Tue, 07/15/2008 - 11:03

kellyb kellyb

(Posts: 5 | Credits: 1.49)

I can actually feel your pressure. I was in the same boat, so I got with Town and Country. Their email address is "service@tcac.org". Their phone number is 205-823-4930. Give them a shot, and hang in there. Everyone on this site has been where you are now.

Sub: #3 posted on Tue, 07/15/2008 - 18:39

kporter90 kporter90

(Posts: 58 | Credits: 9.93)

Hi Kelly,
I want to share something with you. I know that it's scary, and I know you are embarrassed and nervous and afraid. But you need to share what is going on with your fiance. I made the mistake of being too afraid of my husband to share financial troubles with him. If he gets angry, it's understandable, but if he kicks you out..??? The only qualification I have for giving advice is I've been in exactly your same situation. Sometimes you feel like everything will fall apart if you say anything, but in truth, it will fall apart if you don't. Just imagine what will happen if he finds out by a phone call from one of this pdl places.. Talk to him, it may be one of your best solutions. He may have an answer you didn't think of. But the best way to start out your marriage is on an honest note. Trust me, dear, I am not judging you, I've been there. I made the same mistake. In the end, my marriage ended, not because of the financial trouble, there was a lot of factors involved, but that was one of them. My ex was Bipolar and refused to take care of his medical problems, so for me the fear was physical. Or at least I was afraid it would be. I don't have an answer for your pdl problems, but be sure you check all your options. I found that in the end, if I'd just told someone who loved me what kind of problems I was having, they would have helped me out. They all ended up finding out what was going on eventually anyway, and the further it got into the situation, the harder it was to explain. Because not only did I have to explain what I did, and why I did what I did, but I also had to explain why I never told anyone, and how it progressed to the point it had. Chin up, we're here for you, and if you want to talk about anything at all, you can pm me. I hope I wasn't out of line here, but it struck home to me.
Jen

Sub: #4 posted on Tue, 07/15/2008 - 19:13

jennifer_bailey75 jennifer_bailey75

(Posts: 154 | Credits: 19.82)

Thank you kporter & Jen for your replies.

This community is so great. It is very helpful to know that you are all out there & so supportive.

I'm only working on about 3 hours of sleep today since I was up all night worrying & TRYING to devise some kind of plan to get myself out of this mess.

Jen, your words really hit home. Thanks. I'm still pretty emotional from being up all night worrying. I'll think about what you've said about telling my Fiance'. Just don't know if I'm ready to "face the music" with him yet. Maybe in time. But I really do hear what you're saying & I thank you very much.

Kporter, thanks for the info on T&C. I am very interested in hearing about your experience with T&C. I can't decide whether I want to go with them or try to go it on my own.

All I do know is I can't afford to pay the Interest that is coming due on all of these loans on 7/25 & I have to decide pretty fast what I want to do.

Everyone here is so fantastic. Thanks again & all of your input is so greatly appreciated.

Sub: #5 posted on Tue, 07/15/2008 - 23:55

Unregistered


If you can close your account, do so. That in itself took the burden of the world off of me. I was hesitant, as is most, but it was the first and best step I took towards gaining control of my money again. Once it was done, I never looked back. I jumped right in with both feet and became my own person again within 3 months. You too can do this.

Sub: #6 posted on Wed, 07/16/2008 - 00:02

llw1995 llw1995

(Posts: 1422 | Credits: 149.03)

Thank you kporter & Jen for your replies.

Jen - thank you so much for your words. I am working on only 3 hours of sleep since I was up all night worrying & trying to devise a plan of what I am going to do. Your words really touched me. I know I should tell him but I just don't think I'm ready for that yet. I sure will think hard about it, though. Just don't know if my shattered nerves can take anything else at the moment. I'm just taking one day at a time at this point.

KPorter - thanks for the info on T&C. I'm also very interested in your experiences with them. Was it positive? Was it worth the extra $$ to have them deal with the PDL's? Did you get harassed despite the fact that you were working with T&C?
As you can see, so many questions.......sorry...these were some of the millions of things going around in my head around 2:00 a.m. this morning.

I feel a lot better since I found this community. Everyone here is go fantastic & so supportive.

I only have a few more days to make a decision on what I want to do. My loans come due on 7/25 & I can't pay them. I can't even pay the interest.

All of your input is very greatly appreciated.

Sub: #7 posted on Wed, 07/16/2008 - 00:03

kellyb kellyb

(Posts: 5 | Credits: 1.49)

It's ok Kelly. Ask away.
So far my experience has been good. When I get these pdl's fully off my back I'm going to add my husband's credit cards. T & C apparently specializes in pdls. A couple have called me and I politely told them I'm working with a consolidation company. They don't like what they're getting paid, but frankly I don't care. I have two checking accounts and I put a freeze on one to keep the pdl from doing an ach. It's a pain in the patoot, but so far worth it. I have one internet pdl I worked out a payment plan with on my own. Paying $300 per month to pay off all of my pdl's versus paying upwards of $900 per month on fees makes it worth it.
Now, drink some tea and get some sleep! :P

Sub: #8 posted on Wed, 07/16/2008 - 00:21

kporter90 kporter90

(Posts: 58 | Credits: 9.93)

Don't worry Kelly, it will all come together in time. Take small steps, and remember, each one, though small, will get you a step closer to where you need to be. First step is to secure the money you do have. Talk to your bank, and don't be embarrassed. I was mortified, it's human nature, but they were understanding. My thought at the end was this. I'm sure they'd rather you talk directly to them and try to work out the problem then to stick them with a huge negative balance and walk away.
Look into how much you can do on your own. But don't fret about it. Take your time, get everything you need together, and remember, your fiance might be angry, but he might be able to help once he cools off. If you need help figuring out how to talk to your fiance, just ask. Anyway I can help, I will. Get pleanty of rest, dear. You can't think straight if your brain is trying to force you to go to sleep. :)
Jen

Sub: #9 posted on Wed, 07/16/2008 - 00:43

jennifer_bailey75 jennifer_bailey75

(Posts: 154 | Credits: 19.82)

Sorry about the double posting. I didn't realize I wasn't logged in when I posted the first one. Then when I didn't see anything post I tried to type the same things again. Then the first one posted as guest. Aargh...
Oh well, I guess sleep deprivation will do that to you.

Thanks for your advice & support, llw - I do think I will close my account. I have a direct deposit going in on 7/21 that I won't be able to stop now but as soon as that posts to my account I'm going to close it & hopefully they'll let me open another one.
So how did you do it llw? Did you go it on your own or did you use a consolidation company?

Hey KPorter - sounds like you really have gotten it all together. I am sooooo hopeful that I can do the same.
I'm really afraid that they are not going to go for the payments I can afford, though. Right now I'm paying most of them $190 per month just in interest, not touching the original loan amount. If I propose around $50 to $75 per month (which is all I'm going to be able to swing & that will be tough 'cause I HAVE to get the delinquent bills caught up) are they going to laugh in my face???

Thanks again everyone............

Sub: #10 posted on Wed, 07/16/2008 - 01:33

kellyb kellyb

(Posts: 5 | Credits: 1.49)

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