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I have defaulted on four payday loans:

- CheckCity $999.79
- ACE Cash Express $1618.10
- Speedy Cash $601.17
- Check N Go $376.39

I've already revoked all ACH transactions from my account. I'm currently going through a major financial crisis in where the interest from all of these loans was eating away at me. I couldn't afford to live and pay these loans at the same time, so I defaulted on them. Now I'm scared as what they will do to me since I defaulted on them because the total of all these is over $3000. What can they do to you once you default on these loans? Can anyone provide any advice or help? I know all of these payday loan companies are legal in Texas, so that's not my problem. I just don't know what to do.

Good first step in revoking the ACHs. You are correct, I believe all of these are legal CABs (used to be CSOs) in Texas. Your best bet would be to contact the corporate offices and ask for collections. Then, work out a payment plan. Usually, they will let you have at least 4 payments to pay the remaining balance.

If you show effort to pay, they will work with you as they can.

Sub: #1 posted on Tue, 10/01/2013 - 02:15

michaeldhetrick michaeldhetrick

(Posts: 64 | Credits: 9.1)

Since all are legal lenders, so they can sue you because of nonpayment of debt. Once the court issues an order against you, they can garnish your wages or place a lien on your property. That’s why, it would be better for you to negotiate with your licensed lenders and try to set up a payment arrangement with them.

Sub: #2 posted on Tue, 10/01/2013 - 12:40


I am from Texas as well -- as you know your lenders are all legal. Now that you have defaulted, they will turn it over to collections. You can try to work something out with all of them. It has been my experience (with SpeedyCash) that they sent me to Ad Astra collections -- I sent them a DV and it came back validated (I knew it would). I sent them a C&D and sat on it for over a year while I got my financial situation in a better position. It was reported as a collection on my credit report. Once I was in a better position and ready to take care of it, I was able to negotiate a pay for delete with Ad Astra -- I had to pay the entire amount but they deleted it from my credit report within 48 hours of receiving payment. Sometimes, you just need to stop the madness to dig out of the hole. They won't sue you right away -- they will send you to collections first. Take the time to get back on your feet and then work on a deal that is best for you. For me, it was getting it off of my credit report that was most important. Everyone's needs are different. G

Sub: #3 posted on Wed, 10/02/2013 - 00:54

momofthree27 momofthree27

(Posts: 358 | Credits: 46.68)

To "unregistered":

Since I live in Texas, they cannot garnish my wages or place a lien on my property. I at least know that.

To "momofthree27": Thank you! I am trying to get my financial crisis dealt with in the best possible manner. I plan to send them $100 each payday until they are paid off.

Sub: #4 posted on Fri, 10/04/2013 - 19:07

Marah Robinson Marah Robinson

(Posts: 11 | Credits: 1.29)

No problem! Glad I could help.

Sub: #5 posted on Fri, 10/04/2013 - 20:08

momofthree27 momofthree27

(Posts: 358 | Credits: 46.68)

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