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 Posted: Wed May 31, 2006 8:49 am Subject: Debt Settlement program doesn't take payday loans |
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I have recently enrolled in a debt settlement program recommended to me when I registered here, however, they don't take on payday loans. I have 8 payday loans (what a nightmare) and can't pay them and keep up my other payments. If I am using a debt settlement program for my credit card and personal loans can I also joined a debt consolidation program (like T&C) for the payday loan
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Loraina
Joined: 23 May 2006
Posts: 9
Debtcc Points: 425
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| Posted: Wed May 31, 2006 10:00 am Subject: |
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Hi
Take the service of debt settlement company for consolidation on credit card and personal loans. And shop for a consolidation company to work with payday loans.
Do you mind telling the total amount of debt? You can give priority to the accounts with highest balance and thereafter use a snowball method. Contribute the same amount of your monthly payments to other bills when one gets paid off. This way, you will achieve a debt free life faster.
Try using some budgeting techniques for debt solution. Cut off the expenses not needed. Shop for cheap things available in the market. When you stop using the things not necessary, the cumulative effect over time will save money. If you drink or smoke, quit them to find a solution. Plenty of savings is hidden over there. Use store coupons. All this adds up to your savings. You must get away from those payday loans. The loan sharks will swallow you whole and not even blink.
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john
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Joined: 05 Jan 2006
Posts: 1297
Debtcc Points: 26427
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| Posted: Wed May 31, 2006 10:41 am Subject: |
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The payday loans total $3950. It sounds like I can work with a debt consolidation company for these even though I am working with a debt settlement loan for the other stuff.
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Guest
Debtcc Points: 100
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| Posted: Wed May 31, 2006 11:04 am Subject: |
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Yes you can. You don't have to necessarily put all your accounts to a single plan with the company. You can select the accounts to be put in the program with the specific company. Be sure that you don't fail in making your monthly payments. DMP will deliver you the best results if you are keenly making the payments. If you miss one payment, it will take long time to put back things again in shape. Get the suitable payment plan as per your needs and be firm with it. You will surely become free from all your past debts.
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john
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Joined: 05 Jan 2006
Posts: 1297
Debtcc Points: 26427
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