Just one question though. She can't be prosecuted for stop payments like they say she can for NSF? Can you explain how you worked with people? So far only one place offered any kind of help and it was a major chain (Check N GO I think). All they would do is let her pay half now and half in two weeks. Also, can you explain what telo track is? Or if there really is such a thing. I did a search on the internet trying to find out information about their collection practices. THere are literally hundreds of places on the internet that offer this as well. I was unable to find anything (with the exception of a couple of newspaper articles) with any negative information or suggestions on getting out of the hole with them? While working there, did you encounter a lot of people like my friend? Again, thank you for sharing She can't be prosecuted for a stop payment...it is her right to place it....NSF is non-sufficent funds...that is different from stop payment...When I worked for the payday place..I was in charge of the collections of all late/nsf/stop payments..... all these places care about is getting thier money.... tell her that when she places the stop payments...which is really important..because these places cannot hold a check over 31days...they can get into trouble....she needs to tell them that she will pay say $25-$50 a week until it is paid off... If they don't agree ...then they may send her to collections...but that is a lot of hassel on their part...but I honestly think that they would do it...they may not be happy of course...but really...who cares how they feel....just remember....the money is in her pocket if they want it...then they will work with her...she has total control here.....Good luck... Cinder
Et tu Shantel? Yes, me too. I used them back in MI and left without paying one off. They didn't send it to collections because I called them and made arrangements and paid when I said I would. Once I got here, I hit hard times. I used them for 1 1/2 years, paid them off. Then I did it again and used them for 8 months...JUST NOW having paid off the last one. It's very hard to get out of the cycle. I was fortunate and got money from a student loan. I don't have any suggestions for your friend. But I sympathize with her because I know how she must feel. My ex left NC and had 5 of them!!! They sent something to me with MY name on it saying "You owe us". I was never one of his references and I feel for anyone who was. He never used a joint account check. Actually, he was using checks on an account that had been closed for 6 months!!!! I never signed anything and they don't have my SSN so I'm safe. But if he decides to take a look at his credit report...he's gonna be in big trouble. He also has a judgement from the apt complex where he just up and left without paying rent. Anybody wanna guess why we're not together anymore? LOL
Ms. Cinder, From reading your posts it sounds like this check store you worked for was a stand alone business. Was this a front for a collection agency? Was it affiliated with a ca? Did they sell their customer information? My boss used to manage a collection agency with one of these businesses in the front. It was either Telecheck or Vericheck. They would do third party collections and the check cashing side was a skip tracing tool. As you could imagine once you have a debt in one of these agencies you'll have a difficult time cashing a check anywhere. I never fell prey to these busineses but I did lose a valuable power tool to a pawn shop once. It's the same concept. I once heard someone say that "being poor is very expensive". This is so true. I imagine banks and other institutions make more money off of NSF's, under minimum balance fee, etc... than any other investment. Aloha, PuuOoPaul
From reading your posts it sounds like this check store you worked for was a stand alone business. Was this a front for a collection agency? Was it affiliated with a ca? Did they sell their customer information? This business was a family owned chain...only about 4 of them...located in WA......and no it wasn't a front for a collection agency....and we didn't sell customer info.....It is hard to get out of taking these types of loans...once you start.....I feel bad for the people that get into cycles....my only suggestions...is ....to reduce your loan by $50 each time you take it...you will get out of the cycle...... Cinder
Thank you so much for your suggestions. I relayed them to my friend. She is most thankful. She is going to call the bank tomorrow and start placing the stop payments. She said that when she has made a stop payment in the past, the bank asks the reason. Do you know if they accept any reason or is it so they can decide wether to allow the stop payment or not? She also asked if I would draft a letter for her to each place to let them know about the stop payment and what she is able to start paying back. Do you think this is a good idea? I guess she is embarrassed and doesn't want to deal with their hardcore collection tactics (I don't blame her just from what little I've heard). My friend also went by our local small claims court. She was hoping to sit in on a case to see what the worst case scenario outcome would be. She checked the whole weeks docket and there were none of them on there. Not that it means anything but she figured they must be in court everyday trying to collect from these people. Surely she is not the only one who will/has defaulted. Suprisingly Sears was listed (as the plaintiff) many many times. Thanks again and I'll keep you all updated.
Do you know if they accept any reason or is it so they can decide wether to allow the stop payment or not? Hmm....I hate to say it ...but tell your friend to tell them they were lost in the mail.....only because she really needs to make sure that they dont deposit..otherwise she will have bank fees...and the payday loan fees...and it adds up so quickly...... I wish your friend the best of luck.... O' one more thing...I'm thinking your friend shoul write the letters...there is no reason why you should be doing it... she took the loan... and it really isnt your place... but that is my opinion....... Good luck... Cinder
Dunno if it will help, but most banks that have online access will allow you to stop payment on a check online (with no hassles....) Deb
