Has anyone ever used a program to consolidate payday loans to repay several loans payday? I put myself in a bit of trouble in the first loan center payday loan, then another, and now I'm at 5 different locations. I put myself more and more debt because I feel I'm paying the cost. I want to consolidate, but if she is concerned a good idea. Please help!
Please, please, PLEASE do what you will ... DO NOT remove another loan to repay the payday loans! You can not get out of debt by creating more debt!
Most of these "consolidation payday loan" places are a scam created by the same predatory lenders themselves! You'll find that they not only take your money, but none of your payday loan will be paid and you will end up in financial situation even worse.
I too was caught in the cycle of payday loan multiple for 2 years. The best thing you can do to get off the treadmill of payday loan is to close your bank account and start over. Go to a completely different bank, open a new account and transfer your direct deposit to your new bank before the next cycle of payday loan rates start hitting. Also close to the bank account that debits payday loan when you do not meet NSF charges from your bank. If you can not get a new bank account, then just go about living their paychecks until you clean up your credit ... check cashing fees would be much less than what you can pay in 400% of annual interest charges on payday loan sharks. You begin to think more clearly and rationally when you have real control over your paycheck. Send letters to each of payday lenders to revoke any wage assignment, authorization ach, etc. Above all, never give your new bank account information to a company loan payday ... again in all circumstances. Find out if payday lenders are still legal in your state and study your local payday loan laws to see what your consumer rights are. Do not worry about closing your account and away from this mess ... temporarily in most states, it can not be sued for unsecured debt. The most they can do is to call and harass the crap out of you. Do not listen to their threats ... they are all empty and they know they can not do anything for you. Once you get your money in your hands, you re-take control back of their hand. You can set up payment plans with them on terms. Make a wish for you to never, under any circumstances, allow anyone to control your money / livelyhood anymore.
Visit the forums http://www.debtconsolidationcare.com/ to help completely free, tips, sample letters and contact others who have suffered the same financial stress as you cross.
Good luck to you! Stay strong and stand firm!
Our firm decides payday loans, but we do differently than any other company. We do not have our customers to take another loan to pay off their payday loans. In addition, we use a limited power of attorney that we in turn take responsibility for their debt that we took to be third. Report Abuse
I used to work for the place of the payday loan.
Usually you can get 2 in one year.
Do not use them to consolidate as they too expensive.
Borrow against your 401K. Go to a bank and see if you can get a loan signing to resolve this debt. And if you have a car, a stock loan.
Then pour everything as quickly as possible.
Sorry this is not great, but more help than I can give you
hello
I hope this will help u debt free payday
http://debtcred.
Posted on March 18, 2010.
