I need help in paying 3 payday loans?

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christy2885

Joined: 23 Oct 2009
christy2885's page
Posts: 1

21 Magic Points

Subject: I need help in paying 3 payday loans?

Fri Oct 23, 2009 3:20 am

It seem like it never end. I only have chance to pay the interest. They already called me at my job and told them "that the pay day loan has to be handles now" it was embarrasing now everyone knows about my debt.

Justin

Justin

Joined: 17 Jul 2006
Justin's page
Posts: 1298

28935 Magic Points

Fri Oct 23, 2009 7:29 am

Christy,

Since you have 3 payday loans, I would suggest you to consolidate them and repay it. You can contact a debt consolidation company, where you will have to undergo debt counseling. The counselor will review your financial situation and help you to chalk out a payment plan. The counselor will negotiate with your creditors asking them to reduce the interest rate and waive off the late payments charges. After you get the new payment plan pay the money on a monthly basis to the company till you have paid the entire amount. The company will pay your creditors. The consolidation company will also charge fees for their service.

However, if you wish to do it alone, then you can consider taking out a secured debt consolidation loan. You can use credit card with 0% introductory rate and without any annual fees to pay the loans. You can also try to find out private lenders who are ready to give the money. Lastly, you can also try to get an unsecured debt loan from a financial institution.
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All the Best Smile

Justin

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