Tue, 08/19/2008 06:47
I am in some big trouble. I have three pay day loans to the tune of $900 in service fees a month and I can no longer afford to keep paying them. My only option is to close my checking account and let the defaulted loans go on my credit report. A friend of mine told me he had to do the same thing a few years back. I am stuck in the constant circle of payday loan hell. Over the past 3 months I have shelled out over $2700 in service fees alone. I really need some advice on this issue. Thank you for time.
Cash Advance-Principal-$650-Service fee-$150
Ace Advance-Principal (same as the others)
I am now behind in my rent due to the payment on these loans and do can not keep up with them.
Can they get me for fraud since I have been making payments and my accounts are currently in good standing?