payday1 collections

[crashzx]

Hey all..crash here. We are doing much better now that step 1 is almost complete. Got the joint account closed and a new one reopened in my name. The bank was FABULOUS to say the least. Lots of help. Most bills are caught up now (utilities, mortgage, ect.) No credit accnts.

On to my question...my wife had a payday1 loan since june and it was one of the main reasons we were not able to make our other bills (massive amounts being auto deducted,). They sent her a email today threatning to sue and spread it all over tele-check if she does not pay. My question is WTH is tele-check going to do with an acct that is closed anyway?? She is going to go down to another bank in a week or so and open her an account in her name only. How will this affect her? Doesnt that system go by acct #'s. I am trying to calm her but thought you people might have some insight on this. I really dont see any way this could effect me but never know (my new routing number is the same because of same bank). I told her they are just pissed they got a couple payments regected and to expect some normal collection badgering. We should be filing in about a month.

[crashzx]

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[Nicollette]

Hey all..crash here. We are doing much better now that step 1 is almost complete. Got the joint account closed and a new one reopened in my name. The bank was FABULOUS to say the least. Lots of help. Most bills are caught up now (utilities, mortgage, ect.) No credit accnts.

On to my question...my wife had a payday1 loan since june and it was one of the main reasons we were not able to make our other bills (massive amounts being auto deducted,). They sent her a email today threatning to sue and spread it all over tele-check if she does not pay. My question is WTH is tele-check going to do with an acct that is closed anyway?? She is going to go down to another bank in a week or so and open her an account in her name only. How will this affect her? Doesnt that system go by acct #'s. I am trying to calm her but thought you people might have some insight on this. I really dont see any way this could effect me but never know (my new routing number is the same because of same bank). I told her they are just pissed they got a couple payments regected and to expect some normal collection badgering. We should be filing in about a month.

Most payday loan companies report defaulted accounts to Teletrack, which is some system they use to see if you other defaulted loans, just in case you try to apply for another one. They might also use Telecheck which is a bad check reporting company that will deny your check you may present for payment at retailers such as Walmart. Telecheck uses acct #'s, ss#'s, and I believe your driver license #.

[kym]

Btdt

I have soooo been there... I am in Illinois and dont know how our laws differ..but we (meaning hubby)took out a payday loan... and we got so far behind...and could only afford to roll it over and over and over... but since it was over 60-90 days we were allowed to put it into our BK. We started at a 13 but converted to 7.... That is how we dealt with it... we had a bounced check fee we had to take care of but, that was our only way to get above water.

[treehugger1]

Tell the Payday loan folks to piss off. In many states, a payday loan lender has no recourse through the legal system. Unless, the PD loan company is located in your locality and has direct access to small claims in your county/district I believe they will not sue you. Just my opinion, of course. TO get a better feel go down to your local courthouse and do a search of cases where the PD loan lender is a plaintiff. This will give you some information, and the info is free of charge.