Cash advances?

Question:

i took to $100 cash advances out from two cash advance places, they have u write them a check from ur checking account in case u dont come in and pay, well i kinda forgot about them cash advances over the weeks and then i had closed my account with that bank cuz i didnt really like them as much as my old bank..my point is, i never payed, i closed my account, they never got the money, how big of trouble am i in if i dont go and pay? and how much more will it cost me if i do go in and pay? how screwed am i?

Answer:
Those places are not the best places to do business with; they are expensive. In your case, though, it seems that they are inept in the bargain. They should know you address from the checks you gave them and they will contact you.

You will owe them their interest, their fee (which they should have disclosed to you already) and, here's the bad news, the extra fees they will charge you because your checks bounced. In addition, they will charge a late fee and a collection fee. In other words, that $200 advance is going to cost you a lot of money.

If you ignore them, they will report you as a stiff to the credit bureau and you will have a real bad mark against you. Especially from two of "those" places.

If you go to them, in person, you can negoiate with them and you will probably be able to get them to waive some of the fees. But, if you wait for them to contact you, then you are definitely screwed..

Best thing, get over there, tell them you're sorry, offer to pay them back and smile! Remember that you are asking them to help you!

Good luck!

Well, it depends on if the cash advances were from storefront lenders or from online lenders. If it was a storefront lender as it seems like yours is, I would go in and talk to them and see if you can work out some type of payment arrangement. Usually, if they are legally authorized to do business in your state they will try and work with you. Good luck!

UGH! From everything I hear those places are awful and charge crazy crazy crazy fees and intrest - Some states even are passing laws regarding caps on what they can charge.

You need to go face this head on because from what I understand the longer you wait the worse it gets.

You cant just ignore this and hope it just goes away. I am a Manager for Bad Debt/Fraud collections and this is not something to just think you can walk away from. My company is a decent company and I know what we do -- I can only imagine how bad a cash advance can be and I bet you signed some kind of agreement that will totally screw you.

This can get ugly. You need to go pay them now, because they will start adding fees and penalties. Before you know it, your $100 advance is now a $500 advance.

I would borrow money from friends and family and get this issue resolved ASAP.

Good luck

wait for them to ask for it back...

Cash advances?

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