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Posted: Fri Jan 18, 2008 8:50 pm Subject: Can a payday loan be negotiated?

Can a payday loan be negotiated?

Posted: Fri Jan 18, 2008 8:55 pm Subject:

Welcome to the forum Smile

Depends, is it a storefront loan or an internet loan? What state are you in (that info will help us answer your question better) How much was the loan and how much have you paid back so far? As soon as you post us this info we can further assest you.

Posted: Sat Jan 19, 2008 3:31 am Subject:

puddlejumper is right. you need to come up with a bit more information so that we can help you in a better way. have you consulted with a professional? if the amount is huge you can go in for a settlement program.

Posted: Sat Jan 19, 2008 9:01 am Subject:

I take it you're talking about a repayment? With a storefront, it really depends on the branch manager, I believe. It's a lot more unlikely with an IPDL, as they are usually more inflexible about this--and from what I've seen, it's very rare to get a repayment plan.

Jasmine · Posted: Sat Jan 19, 2008 9:15 am Subject: Not OP but live in PA

Not the OP, but I live in PA with the same question. Can I negotiate them myself or do I need the assistance of a third party? I think I am capable of doing it on my own. I have already paid back more than I originally borrowed,about $875 paid, original loan amount was for $700, and would like to maybe make one more payment, like another $175, that would end the entire loan. Is this possible?

Posted: Sat Jan 19, 2008 9:19 am Subject:

But if you've already paid them back $175 more than you borrowed, why would you want to give them any more? I think you're done with them and need to let them know.

Jasmine · Posted: Sat Jan 19, 2008 4:31 pm Subject:

I don't want to pay them anything else, but I thought maybe that would help with getting them off my back quicker. I don't want them to keep trying to take $875 out of my account over and over when its not there (the fees are killing me). But I thought I'd check on what others thought. I wouldn't offer them the $175 off the bat, I thought I would start off with the, I've paid more than I borrowed already, but if I run into a roadbloack, this could be the last thing I have to give them.

Posted: Sat Jan 19, 2008 8:07 pm Subject:

Jasmine, who did you borrow from, how much borrowed, how much paid. If you tell us that info we can help you figure out what you need to do.

Posted: Sat Jan 19, 2008 10:42 pm Subject:

You also might want to look at either closing your account and getting a new one or blocking this PDL from it if you can. Otherwise, they will never stop debiting.

Posted: Sun Jan 20, 2008 9:18 pm Subject:

Sorry Jasmine, you already told us how much borrowed and paid. What company are you dealing with? With all the members here someone must be able to tell you how to deal with a specific company. Try not to let them bully you into paying any more than you legally/morally owe.

Posted: Mon Jan 21, 2008 2:08 pm Subject: r

jasmine is also a resident of PA. If we could get the name of the pdl, we could help further. In PA, the lender must be licensed SOMEWHERE in order to be recognized in PA. You might be dealing with an illegal lender. Could you please let us know the name of the pdl you are dealing with?