hi! my problem is i have payday loans taken with a

hi! my problem is i have payday loans taken with ace cash express online ,the cash store ,personal credit and check-n-go are all of these legal in tx. is there an institution to help me cosolidate these and get out of debt.

4 Answers

I searched in the Internet and found this.

Ace Cash Express - legal

Cash Store - legal

Check n Go - Legal

Personal Credit - legal

Call your lenders and try to negotiate a payment plan first. Find out ways to earn money. Do part-time jobs if required. Make payments as per the agreement with the lenders. If you fail to strike a deal with them, then approach a payday loan debt consolidation company. The following link may help you out on this issue:

http://www.debtconsolidationcare.com/companies/usa-listing/

 


Of course there is an institution that can help you deal with your multiple loans. You can contact the nearest debt consolidation company and tell them about your financial hardship. They will negotiate with your creditors and lenders and lower the interest rates on your loans so that you can easily repay them without stretching your monthly budget.


Do it yourself! Trust me, anyone can.

The PayDay lenders will be able to tell you who owns the debt now. Call the new owners of your debt and work out payment arrangements with them.

If your debt is more than 4 years old, you have an advantage. In the state of Texas the Statute of Limitations on all debt is 4 years. That means, even if a Collection Agency has ownership of a debt taken out before July 2007, they have no legal recourse to collect on it. No liens, no judgments, no garnishment -- nothing. Focus on the rest.

The older the debt, the easier it is to secure a settlement. For Pay Days Loans taken out in the later half of 2007, offer 50%. Note: Most Collection Agencies will quote you a current balance that is more than double the prinicipal on the loan. Be prepared to go in there armed knowing your original loan amount and the date it was issued. By the way, if you cannot afford to pay a settlement all at once ask to have it divided up over one calendar month. Collectors are most interested in making their monthly bonus - offer them 1/3 at the beginning, 1/3 in the middle, and 1/3 at the end of the month.

Make sure to get all your payment arrangements in writing. Keep track of payments made by getting payment confirmation codes. Always ask for your "Paid in Full" letters, which is usually available 10 days after final payment is made. 


Really research the debt consolidation places because sometimes there plans are insane. I know someone who was trying to stay afloat and got so behind he ended up with like 11 payday loans! Well, he ended up filing bankruptcy to stop them because they can get really ugly!


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