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how to pay off multiple pay day loans

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missb291

Joined: 22 Apr 2008
missb291's page
Posts: 2

115 Magic Points

Subject: how to pay off multiple pay day loans

Tue Apr 22, 2008 3:29 pm

i need help. i have all of theses pay day loans and i want to know how to pay trhem back. my credit is not good enough for a personal loan what can i do

Dann325

Joined: 26 Mar 2008
Dann325's page
Posts: 20

757 Magic Points

Wed Apr 23, 2008 8:39 pm

If they are on you credit report then their contact infomation should be as well, just give them a call. If not, go to the place you got the loan from? Never had a payday loan, is there somthing im missing?

Justin

Justin

Joined: 17 Jul 2006
Justin's page
Posts: 417

10874 Magic Points

Thu Apr 24, 2008 5:13 am

Pay day loans are irksome. I dont understand the reasoning behind opting for this filthy system of lending.

Missb291,

I would suggest you to do some serious calculations on how much you earn and how much you spend. I am sure once you save enough money you will be able to pay them back. Which state do you belong to? Are PDL's legal there? Are these online PDL's or store front ones?

Janice
Guest

Subject: Payday Loans

Thu Apr 24, 2008 11:06 pm

None of your information was helpful! the writer did not ask about payday loans or how he got in trouble! He asked how to get help. There are companies out there that work on negoiating with paydal loans exclusively. The way they work is they will ask you to submit to them paperwork on how many payday loans you have, and how much you owe. They work like this - You give them the list, they know most of them and what they are willing to take. They will then tell you how much you need to have in a checking account to pay these people a monthly amount. They base this on your income/expenses. They will suggest you close your current account out to prevent money going out and open one for them and one for you. They contact the lenders, and arrange an negoiation settlement and then, you provide the money in the checking account - they pull it and they pay the payday loan companies. MOst of the payday loan companies are willing to work with them.

Guest

Fri Apr 25, 2008 10:29 am

Thanks a lot Janice for your exclusive help here. Hope to see more of your treasured posts, specially for PDL's. Could you please let us know about some of these companies with whom the PDL's work? Any specific that you know?

Laura

Joined: 21 Jun 2007
Laura's page
Posts: 1407

34540 Magic Points

Fri Apr 25, 2008 10:53 am

Janice

We would definitely like to know. Did you work with any of them?
_________________
Regards,
Laura.

fireyone

Joined: 26 Feb 2008
fireyone's page
Posts: 2858

1966 Magic Points

Sun Apr 27, 2008 1:34 am

Good info Janice. You will need to let us know if there are any reliable agencies like you speak of. I thin k alot of people run scared of agencies like this because there are so many out there that aren't looking to help but collect money. People who have good outcomes with these places should help by listing them. It would help a person who wants to go this route but is too nervous too.

NKBE45FB
Guest

Sat Jun 14, 2008 11:21 pm

please what agencies?

CMBV22

CMBV22

Joined: 08 May 2008
CMBV22's page
Posts: 378

4034 Magic Points

Sun Jun 15, 2008 12:46 am

Janice ,

I really must know how these companies you speak of stay in business. I guess all of the employees are full time volunteers, I also bet their cars run on love and peace. -Oh wait, I figured it out. Those great companies you are referring to charge ppl who are already in debt over their heads to call the PDL companies and tell them "okay, this person can afford to give you x dollars a month, here's a promise to pay"

Nothing in this life is free and ppl are better off calling their creditor themselves and being honest about their abilities. If you cant pay your bills how can you afford to pay someone else to pay them?

Now, that I beat that dead horse into the ground...

missb291,

Listen to Justin. Sit down and look at your checking account and figure out what you spend monthly. Yes, your bills probably equal x amount of dollars if you sit down and say 'lets see 150 electric, 725 rent...etc" but, you really need to see where your money is really going. You might be shocked to find that you spend 200 a month on cigarettes or, 100 on coffee etc. Once you know where your cash is going cut back where you can. Then give yourself a cushion each week for the unexpected. You should never budget away all of your money. Once you do this take a look at what you have left over each month. Then tally up your debt and take a look at the companies you owe money too. You are going to want to give more money to the companies that are more likely to go to court or, have higher fees or interest. Call each of the companies and tell them what you can afford to give them monthly. Don’t let them try to tell you what you can afford,be honest and firm with them. Once you reach an agreement ask them to send you a letter with the terms you agreed on.

Then stick to your agreements. if you have extra money at the end of the month pay whatever company has the highest fees. It wont happen overnight but, its the best way to go.

Good luck
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sdchargers_63

Joined: 13 Aug 2007
sdchargers_63's page
Posts: 891

2654 Magic Points

Subject: debt

Mon Jun 16, 2008 1:57 am

WOW!! I have to say that was no 'sugar coating' about that!! Sometimes people HAVE to hear it that way. I know I do sometimes. Just getting back to the 'reality thing', I think. responsibilty is the key to take care of your debts..no matter how big or small.

goodnatured

Joined: 03 Nov 2007
goodnatured's page
Posts: 3137

5332 Magic Points

Mon Jun 16, 2008 3:29 am

missb921

How is it going, any updates on your situation for us???? I would like to know.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!

fireyone

Joined: 26 Feb 2008
fireyone's page
Posts: 2858

1966 Magic Points

Sun Jul 27, 2008 1:32 am

We all would and if their is anything we can help you with let us know.

sdchargers_63

Joined: 13 Aug 2007
sdchargers_63's page
Posts: 891

2654 Magic Points

Subject: pdl

Sun Jul 27, 2008 9:26 am

I thought the PDL's, THEMSELVES, could not report to the CB's. I thought it was the CA's, that 'represent' the PDL's that report. I've never seen an ACTUAL PDL on my CR. ....just CA's on it. But.if ALOT of the PDL's are illegal, how can ANY CA 'represent' them? Can get confusing sometimes. It's like a 'Catch 22'.

fireyone

Joined: 26 Feb 2008
fireyone's page
Posts: 2858

1966 Magic Points

Mon Jul 28, 2008 3:14 pm

Pretty good questions SD. I wonder how ca can represent pay day lenders. That will be an interesting answer.

erb1953

Joined: 31 Dec 2007
erb1953's page
Posts: 631

8 Magic Points

Tue Jul 29, 2008 2:44 am

I am amazed at the power that collection agencies have, aren't you?

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