I have screwed up really bad....need legal advice.

[scrwdupryly]

What is the name of your state? Tennessee

I am in a financial nightmare, with no one to blame but myself. However, I am trying to get out of it the best way I know how and am looking for some legal advice. My first problem is I got into trouble with a few cash advance places and was trying to pay them off one at a time and when I went to roll them over for another 2 weeks I forgot to re-write one and they sent the check through my bank. It cleared no problem, however I had written other checks to several places thinking I had the money to cover them and because I forgot to re-write the cash advance check all my other checks bounced which in turn caused mega overdraft charges and so on. It is just a huge mess. I didn't really know what to do so I called the businesses that I knew I would have returned checks and alerted them to the fact they would be sent back due to insufficient funds. I have started receiving letters and phone calls about them. I am aware that I have 30 days to pick them up and pay the amount owed. This whole ordeal will have cost me 1600.00 by the time it is said and done. My question is this.... I know morally I should pay the pick up fee of whatever the place charges to pick up a check, however, I just cannot afford it plain and simple. I used to work for a major department store and our policy was the check issuer was not required by law to pay the pick up fee, but would not be able to write a check in the store again. Which would be a blessing to me because I never want to see another check book again!! Does anyone know what the law is on paying the pick up fee? Can legal action be taken against me if I don't pay it and just pay the original amount of the check? Also, can I close my checking account down and just pay them payments each month? I suppose that is a question for the bank to answer.

Any help or suggestions is welcomed**************try to go easy on me, I have beaten my self up enough already.

[Debt Guy]

I don't know if there is a penalty fee in TN -- it would be governed by state law.

If the law allows a penalty fee, then you can be sued for the fee. If the law does not allow for such a fee, you can still be sued but will need to be prepared to defend yourself.

Personally, I would deliver to merchant a cashier's check or money order for the amount of the check (don't use cash since you will not have a paper trail). Be sure to keep copies of the fronts and backs of each cashier check.

You should add an endorsement on the back of the check (right above where they would put their endorsement) that says "acceptance of this payment satisfies in full all obligations of the remitter". If they ask about the penalty fee, just say, I'm sorry but I don't have the money -- this is all I have.

If they refuse your payment, you pretty much know what their behavior will be.

If they accept the payment and come back later and demand the penalty fee, you can respond by mailing a copy of the cashier's check/money order along with a cover letter explaining that their acceptance of the check satisfied all your obligations. This is a little thin but could even be an argument to make in court if you had to -- the term is "accord and satisfaction".

I don't want to beat you up. Personally, I don't think your real problem is the checkbook -- anyone can mess up. But, you have a serious problem with the payday loan companies. They are bloodsucking leaches who will drain the life out of you. You need to find someway to stop using these companies. I have seen this hundreds of times -- you find yourself in a downward spiral and can never get out of the trap. Find a way.