I have three payday loans with legal companies in Ohio, where I live. I read online that the max amount you can get on a PDL in Ohio is $500. Two of my loans are for $800. I am unable to make the payment on them right now and I tried to get a settlement out of them but they basically won't work with me. I am hoping to get a part time job to supplement my full time job so that I can pay them off. If I default, how long would it take for them to put a judgment against me. Would I have a month before it would get that far? Is there anything I can do since they let me borrow an illegal amount?
My lenders are Cash net USA, Ace Cash Advance and check N Go. All are online lenders. Would it be better off to consolidate? And if so what company should I call?
Would it be better off to consolidate?
Welcome to the forums!!!
All of your lenders are licensed in your state. You owe both the principal and interest. Legal lenders can sue you because of non-payment of debt. Once the court issues an order against you, they can garnish your wages or place a lien on your property. It would be better for you to consolidate your debts yourself without hiring a debt relief company. Otherwise you may try to negotiate with your legal lenders and set up a payment arrangement with them.