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#1
07-09-2007, 12:54 PM
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Going Under Fast!!! Please Help!
I have been going down a shameful downward spiral with internet payday loans since my checking account went negative in April. To correct the negative account I applied for an internet payday loan thinking that this would quickly solve the problem. It only made my problem worse and now I feel as if I am sinking in water with three loans. I would really like to consolidate them if possible to I can begin to save money again and feel better.
Thank you.[/quote] 
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#2
07-09-2007, 01:09 PM
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First calculate the total outstanding balance on each account and compare it with your state laws. You need to know the actual status and discuss with a counselor. He may assist you in working out a payment plan with your pdl companies.
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#3
07-09-2007, 01:42 PM
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Hi, welcome to the forums. You have come to the right place. Please tell us how much each loan was for and from which lender. Also, how much you have paid each one so far and the State that you live in. That way we can help you determine what you legally owe.
You may have to close your checking account immediately so that you can breathe and deal with these companies on your terms, not theirs. Before you do that however go to your bank and see if they will work with you by placing your account on deposit only status. If you do have to close your account be sure your bank does not have a policy to force open your account for electronic payments. Tell your payroll dept that you need to get a live paycheck for a while.
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#4
07-09-2007, 01:51 PM
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Thank you!
I can't remember who the loans are through I do remember that I have a $200., a $300. and a $100. loans. I have paid on them all one time each. I just feel like a can't breathe, trapped. I appricitate any help. By closing the checking account will that force them to call me?
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#6
07-09-2007, 06:07 PM
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I agree, 3 isn't really that bad. At one time I had about 12 of them. I think I have it paid down to 4 outstanding payday loans now. You might try calling them and explaining your situation to them and maybe they will work something out with you. Good luck!
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#7
07-09-2007, 06:15 PM
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Advice
What state are you in? Do you know how much you've paid on each one? And who the loans are with? That's the first step. Everyone can help you here and you can do it on your own with good advice. Please post your state and which pdl companies your loans are with.
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