I’m trying to make some payment plans with them that I can afford but some of them says it’s not sufficient and they will keep additing to it. If they take it to court, will the judge see and take to consideration that I tried to make a payment plan with them?
4
✅ Answers
Take a serious look at your paycheck. If you get sued and it’s garnished, what would your paycheck look like if 25% was suddenly missing? If you get sued and they win (and they will), that’s the amount they can garnish.
Yes, this is cruel, but you did it to yourself. No sane person gets a single payday loan, let alone multiple loans. There are always “unforeseen circumstances” –before and after you get the loans.
When you got the payday loans you signed a contract. That contract specified how you would pay them back and the fees that you would owe. If your idea of paying them off is to offer partial payments, they don’t have to accept them. It’s a myth that as long as you pay $5, they can’t sue. Even $1 less than what you agreed to is enough to get sued.
I believe the judge will rule completely in your lenders’ favor instead of yours since you signed the agreement legally. However, have you looked into getting a personal loan with payments made in installments or a payday loan consolidation? Those should offer you at least a little bit better terms in regards to interest and fees.
Your unforeseen circumstances are of no interest to the lender, and as for the judge, he/she hears hard luck stories day in and day out.
The bottom line is you made a legally binding agreement with the lender. He is under no obligation whatsoever to offer any payment plan – because there is no such thing in the agreement you signed
You are stuck, and at very high interest rates. Since you signed the loan, unless they violated the law in disclosure, you cannot win.