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Posted: Thu Aug 25, 2005 3:20 pm

Can I consolidate payday loans without turning them over to a collection agency? I don't have any defaults, but I'm not making any progress, just paying about $600 a month in interest.

Posted: Thu Aug 25, 2005 4:06 pm

I consolidated my payday loans with this company and I was referred to a consultant who did the negotiation with my creditors. Hopefully, I will be able to solve my debt related problems within the next few months.

You can also enter for a free counseling in this website and know your available options for debt repayment.

Posted: Thu Aug 25, 2005 4:11 pm

Thanks for that information. I am going to call the company as soon as I am out of work. I mean I needed them at first and I have just been consistently paying nothing but interest. I took on a second job to be able to pay them off and it just doens't seem to be getting anywhere. If you don't mind me asking how much did you owe and what were your payments like? I would just like to get a really quick ballpark. I have too many because I thought it would solve problems a while back, but I DID learn a lesson. I use to have 8 and now I am down to 6, but it still adds up. I know once I have them under control I can save up and not worry abouthaving to need cash again. Thanks for your response.

Posted: Thu Aug 25, 2005 4:25 pm

The consultant will call you up at the phone number you entered during your registration in this website. In my plan, I opted to clear the debt as fast as possible and also I have some available cash in my hand. So I opted to pay $200.

Yes, payday loans are not less than a drug and their aftermaths are brutal.

Posted: Thu Aug 25, 2005 4:30 pm

I am in the same situation as you. I am interested in consolidating my payday loans as well. I did the same thing thinking that I could get ahead with taking out payday loans and now I am just trapped. I was paying about a 1000 a month in fees alone. I would like to get out of this whole and get ahead!!! thanks for the information.

Posted: Thu Aug 25, 2005 4:45 pm

I realized during this time that a proper negotiation is the thing that is most required to get rid of this problem. Thanks heaven, my consultant showed keen interest in negotiating with my creditors and I am able to feel the result of it.

Hopefully, I will be able to see the results of this hard work in my credit report very soon.

Posted: Thu Aug 25, 2005 4:58 pm

I have recently looked at my cerdit report, I monitor it monthly, and I do not have any payday loans on my credit report. Does it effect it negatively or positively at all with consolidation? None are on my report. Only my credit cards, student loan and car loan on that report, which is good. Will it stay that way?

Posted: Thu Aug 25, 2005 5:18 pm

If there is a debt that does not belong to you and stays in your credit report thus, giving negative information, then it will hurt your credit ratings.

However, if a debt has not been reported by your creditors and they are making collection efforts, then you need to negotiate with them in order to settle it off. If the creditors fail to recover the debt from the consumers, they report to the bureaus and this will affect your credit ratings.

Please make sure that you do all the needful negotiations with your creditors before it is reported to the credit bureaus.

Regards
Roxette

Posted: Thu Aug 25, 2005 8:10 pm

I wanted to consolidate all my payday loans and even went so far to set up an appointment with a local agency. I held off and tried to apply for a mortage loan. I asked the lender would my credit be effected if I did so? They advised me it was worst then filing bankruptcy. I want a new home and I'm trying to clean my credit up, but at the same time I want to pay these loan sharks off. Especially Ellis Crosby and Associates (who are threating to lock me up tommorrow morning at 9am. after they embarass me by speaking to my supervisor). I also would like to know if this maybe grounds for a harassment suit?

Guest · Posted: Thu Aug 25, 2005 11:49 pm

I would like some help on what to do about my payday loans. I thought these loans would help me, they are my biggest mistake. Allen Lewis called and said he was from a federal agency and would go to the place of employment and spot me. When I asked him which federal agency, he became angry. Said I commited fraud. Now it is on my credit report as trying to commit credit fraud. Would debt consolidation help? How do you start? where do I call?

Katie · Posted: Fri Aug 26, 2005 8:11 am

Please report them to your state attorney general if they threaten you! You did not comit fraud and they are just another collection agency.
You can start here! Talk to Roxette she can help you

Posted: Fri Aug 26, 2005 10:25 am

Hi aundreakendle

Please do not get tensed about the calls of Ellis Crosby. Their main intention is to scare you so that you start paying them hurriedly without a second thought. The FTC has issued some guidelines in the Federal and State laws for the consumers and we should feel stronger under this legal cover.

No collection agency can harass you or threaten you with jail. Since Ellis Crosby has been involved in such atrocious acts, their business is in stake. As a result, they have become furious and are involved in all sorts of unfair activities.

Please read the following content in the FTC link given below and use your consumer rights.

http://www.ftc.gov/os/statutes/fdcpa/fdcpact.htm

Waiting to hear from you.

Regards
Roxette

pinaijul · Posted: Sun Aug 28, 2005 9:09 pm

hi,
i think i called this company to try to consolidate my paydays loans and they said it wasn't possible, which company did you call? i've already gotten emails at work and phone calls from 2 of my payday loans and now i worry when i go to work that they will continue calling or go further. I am willing to pay, but not the whole amount. Pease let me know which company consolidates payday loans. thank you.

MLJ · Posted: Fri Mar 10, 2006 1:18 pm

can you really consolidate payday loans? i got roped into this to help out and now they are making a killing off me. they all said if i filed bankrupt on them they could sue me. i want to pay my debt but need a payment plan a little lower than 1000 monthly

Posted: Fri Mar 10, 2006 2:27 pm

MLJ,

You will first need to register with the forum so someone can pm you the information. There is a couple of companies that will consolidate payday loans but we must follow the forum rules. Smile

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