I was over my head in payday loans. I went with a payday loan debt settlement place who has settled my debts, but one of our payday loans claims they have recieved their payment AFTER I closed my checking account where they ACH the payments. My Bank has made it clear that not one person has access to our savings account. How the heck are these people able to get their money when the account is closed, and there is no funds there anyways
I have 2 old payday loans over 2 years old that I never paid. One of them is harrassing me big time. I am going to file bankruptcy in the next week or so by myself. I had medical reasons why I could no longer work and pay any of my bills. All of my money has and does go to medical needs. One of my prescriptions is 5.00 per month. I lost my house, I lost everything. The collection company for one of the payday loan accounts said that you cannot file bankruptcy on a payday loan. He was very rude and treatening. Told me he would personally make sure they come after me. Its not like I just took out the loan knowing I was going to file bankruptcy. He said there was a clause in my contract with them that I would not file bankruptcy. Anyone have any thoughts on this? Thanks
I live in Florida. I lost my eyesight due to a brain virus that spread to my eyes as well as other medical issues.
Over the last two years, while I was in college, I was dumb enough to let myself get about 5,000 in debt. This debt is for 3 credit cards, a payday loan, and an overdrafted bank account. I am graduating in a few weeks and will begin looking for a full time job. I had planned on either attempting to settle these debts or explore the option of bankruptcy once I began my career. However, I was served with a subpoena from Citi today for 1000. I know this is my fault and it is something I was preparing to work out as soon as I am financially able. Should I consider bankruptcy? Im 24 and in the state of KS. Thanks!
Thanks for your suggestions and well wishes. I would greatly prefer to settle than go the bankruptcy route, I was just not sure if settlement was an option since the subpoena has been sent. I am looking forward to getting past this!
Dear SQURIRELL,
Although I shouldn’t pick on such an easy target, you may be benefit from some higher education yourself. Your grammar and use of punctuation leave much to be desired. However, thank you for your input. It helps me realize that my financial setback is not nearly as bad as plain stupidity.
I haven’t any credit debts, it’s mainly fees on bad checks, and a payday loan, so can I file for bankruptcy, or will that cost me more money, that what it’s worth ?
my credit is already no good.
I had three payday loans worth 0. With intrest they were like 00. After my account went to collections, I kept telling them I am doing everything in my power to pay my loan off. Then when I had the lump sum, two of the companies both agreed to settle my accounts in full for the original amount of the loan, without all the interest and high fees. My one loan was 0 and they settled for 8. Then my other loan was 500 and they settled for 400. The debt settlement company wanted to charge 300 and then 50 bucks amount, so anything extra would be used towards the loan. It seems like it would have cost a lot more to use the payday loan settlement company. All they can do in the end is ask for a lower amount.
I have a lot of debt and considering settling these debts without a debt settlement company. Their are many debt settlement programs that promise to save you 50% while other companies promise to save you up to 75% of total debt you owe. How can one company be better then the other, after all, in the end all they can do is negotiate and ask for a lower amount as settlement. I also bought a Ebook that teaches you how to settle credit card debts and payday loan debts on your own. It seems simple enough and contains all the letters that you need to send out and takes you step by step to settle your debt. Their are also many well written letters online. Sure they may be more experienced and save you an extra 0-0, but with the cost of the programs sometimes exceeding ,000, the amount you did save is just going towards the debt settlement program. I’m guessing that debt settlement program is for people that don’t want to dealer with creditors at all because they answer all the calls, send out all the letters such as debt validation letters, and do all the negotiating for you. Whats your opinion.