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lstwolf
Joined: 01 Apr 2008
lstwolf's page
Posts: 1
37 Magic Points
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Subject: Need help to get out from under several payday loans
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Tue Apr 01, 2008 4:38 pm
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| Can anyone help I'm in over my head with payday loans and really need help to get out before I lose my house and car |
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cbass1017
Joined: 01 Feb 2008
cbass1017's page
Posts: 143
Location: PA
1528 Magic Points
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Thu Apr 03, 2008 1:45 am
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The payday loans will just have to wait. Your house and car are far more important right now. The first thing you will probably have to do is to close your checking account. You'll have to be prepared for the fact that you might have a hard time getting another bank to open you another account for a long time, but its usually the only way they will not be able to access your money. Once you get to the point where these companies are causing overdraft or NSF fees on your checking account its kind of like doubling the already outrages interest rate you are paying for the loan. You might even have to consider some sort of debt settlement if you can't find a way to pay these loans back. You might try checking out the Debt forums link at the top of the page.
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Scott McKay
FreeOnlineCreditGuide.com |
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scott
Joined: 28 Jun 2006
scott's page
Posts: 446
10878 Magic Points
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Thu Apr 03, 2008 4:21 am
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| Payday loans definitely come last. Focus on saving your home. Use the debt forum for further help. |
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CanadaMoneyGirl
Joined: 01 May 2008
CanadaMoneyGirl's page
Posts: 1
47 Magic Points
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Subject: Payday loan help
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Thu May 01, 2008 3:20 pm
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| Payday loans are not necessarily a bad financial solution, but the key is to remember that they are short term only. Most will work with you to negotiate a payment plan, if you're up front and honest with them. Check Link Deleted: Violation of Forum rules- Richard for a company that provides full disclosure as to how the loans should be handled and useful links for money management advice. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3927
10 Magic Points
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nancy
Guest
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Subject: help
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Tue Dec 22, 2009 2:15 am
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| have several payday loans, there all internet, live in s.c. are they legal?have closed my bank account and switched banks, have called pay day loans to arrange settlements , what can they do if I dont pay |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3927
10 Magic Points
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Sun Dec 27, 2009 4:07 am
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| They will selll them off to a collection agency, then you will have to deal with those nagging stuff. I am not sure if they are legal in your state or not. Do you see any storefronts around? Usually this is a tell, tell sign that they are legal or not. |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
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Sun Dec 27, 2009 10:44 pm
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| Nancy, you could call your atty general of your state and ask if payday loans are legal. He or she could advise you with the best onformation on this since all payday loans are state depending. Collectors, as goodnatured posted, are very annoying but if you can not keep up what else can you do. If they do go to collections then maybe they will settle them out for less. I really wish they could make these things illegal everywhere already. I can not believe that it is possible to charge the interest rate that these places do and get away with it. Since it is like a banking industry, you think there would be some type of regulations placed on them. |
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vidasandi
Joined: 10 Feb 2010
vidasandi's page
Posts: 4
75 Magic Points
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Subject: credit
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Wed Feb 10, 2010 1:00 pm
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Hi! really sorry to hear about your current status. But I think you can go for a good loan(get-out-of-debt loan, offered by primarica representatives in your area.) check out your local directory and ask them for the loan. This loan is usually good for middle class debt ridden families,the loans have low interest and they consolidate a lot or almost all of your other loans in one. For instance if you have three loans with interest rates of 14, 20 and say10% you can consolidate all of them with one loan at an interest rate of perhaps 12% so if you want consolidate all three or just the first two with higher interest rate. so you'll have just two loans, one with 12% and the other with 10%. They have an amazing loan structure in place, the only catch is you will have to first qualify for the loan and for that your credit will be pulled, based on your credit score, you could get rate anywhere from 12% to 24%.
I hope i was of assistance! |
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