I have a current situation with a payday loan company .
I only needed to borrow $220. to pay off a light bill , and get my lights turned back on..
They offered my a $1,500 line of credit, which I should have never taken..
now I am getting charged principle + interest about $365.00 each month.
I tried to call and setup a payment arrangement, for a more affordable payment of $160.00 a month, and they accepted, but they still
charge fees to my checking account. My bank, says I need to get this , straightened out, it has already jeopardized my account and standing with them in over draft payments and fees.
I feel I need a lawyer now, to make them come to an agreement since they ignored my
suggestions and the balance , just gets higher every month.
thank you for your time. I cannot pay the $39 right now, but later, during the month.
Bilal Hassan - 281-783-0023
Did you read the truth in lending statement, which clearly and brutally states the terms you have described? If the lender won't stop making charges to your bank account, close the account and open a new one. You might get sued for the unpaid debt, but that's about it, no arrest or criminal charges.
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You probably could find a lawyer to represent you at a reasonable rate, but I think the lawyer and you might disagree on what is "reasonable." If you don't even have the $39 for an Avvo Advice session, then it is doubtful you will be able to afford an attorney's retainer which is likely to be somewhere between $1000-5000 depending on the attorney and the scope of representation you are seeking.
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Hire an attorney. If you can't afford the lender withdrawals, you may want to close your bank account. Lender may sue you but that is a long process. A consumer attorney should be able to help you with your situation.
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