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payday loan problem


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Posted by james (68.112.181.211) on May 18, 2004 at 01:43:00:

I took out a payday loan(I know-bad thing) 3 weeks ago.Borrow $200.00 and pay back $260.00,unless it is rolled over.Then the charges really add up.Well,I am on ssdi and get paid once a month.Form I received in the mail states that I have to fill it out,stating amount I want to pay,three days before due date.It does not state 3 working days.Loan is due 5/19(wednesday)I sent the fax in on 5/14(friday)Said I wanted to pay $160.00 now and balance next month.Was gone today and when I got home,there was a message on my answering machine-Sorry,but your fax was not received on time,loan will have to be rolled over.Which means they would take out $60.00 and then next month I would still owe the $260.00.How should I handle this?Fax was sent last friday and loan is due wednesday.Where I went to school.that is 5 days.


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