Got new loans to pay old ones-now I just want out. Need advice as to consequences in CA. Desparate!
2006-08-22 11:41:07 · 8 answers · asked by NavyX 1 in Business & Finance ➔ Credit
call a credit counseling firm and find out what they can do to help you. you should find one with a free first appointment. don't default if you can help it.
the credit counselors should be able to help you come up with a viable payment plan or may even be able to consolidate all your debts into one payment. I have been in your shoes. it is not hopeless, but it is a long road out. You can do it if you get the right information and help.
2006-08-22 11:49:09 · answer #1 · answered by rcsanandreas 5 · 0⤊ 0⤋
Okay don't default, thats not good. I use to be the manager of a cash advance place and it was aweful when people default. There are consequences in CA. They will take you to court, you will be served, you will be found guilty, there is no way out of it and they will start taking thier money from your paychecks or tax return plus the court costs. In the end it will cost you a lot more. If you bank actually excepts the check and pays it and it over draws your account that can get you in a lot of trouble to, up to loosing your bank account and not being able to open a new one with in 7 years. My suggestion is talk to the people at the cash advance compay and ask if there is a way to pay them down slowly. OR you can pay your fee and put $20.00 down on the loan untill it's paid off. It might take you a while but the best thing to do is do it right. Don't default. It's just not kind. After you get them paid off..... don't get sucked in again
2006-08-22 18:48:15 · answer #2 · answered by YubaMama 2 · 0⤊ 0⤋
I know from personal experience. You can get in lots of trouble for not paying... I was picked up by the cops and hand cuffed. At my place of emplyment, for not paying on one that was $200.00. I was about 3 weeks past due. I had to be bailed out and go to court. Was a big pain and hassle! I will never get sucked into payday loans again!!!!
2006-08-22 23:10:58 · answer #3 · answered by bubblesblow 1 · 0⤊ 0⤋
Call the loan Co and tell them that you're considering defaulting becuase you cant afford them. They should be willing to work with you, like dropping their rates or setting up a payment plan.
2006-08-22 18:51:05 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I wish everybody would know your story before they go to those rip-off places. By default do you mean bankruptcy? I wish there was legal recourse but you read the contract and agreed to the terms.
Good Luck to you both.
2006-08-22 18:48:47 · answer #5 · answered by amglo1 4 · 0⤊ 0⤋
Its so hard to get out of debt you pay so much interest and late fees. I don't know the way out either wish I did. Good Luck
2006-08-22 18:45:23 · answer #6 · answered by blank 5 · 0⤊ 0⤋
Are you considering filing for bankruptcy too?
2006-08-22 18:46:30 · answer #7 · answered by JoeSchmoe06 4 · 0⤊ 0⤋
Don't go to those ripoff's.
2006-08-22 18:42:01 · answer #8 · answered by Anonymous · 0⤊ 0⤋