Storefront lenders in Iowa - need help please - so scared

I am new to the forum. I appreciate any input or advice you can give me. I currently have the following storefront payday loans in Iowa:

Advance America - $500

Check n Go - $500

EZ Pawn (previously Mister Money) - $500

Fast Cash - $500

EZ Money - $500

PDL (Davenport Check Cashers) - $500

The Cash Store - $1900 (IL loan that is licensed to lend in IA)

I feel like I am a smart person....but when I look at what I have racked up in PDL's I don't feel very bright at all. The cycle is so hard to get out of. We are now behind on our mortgage because of all these payday loans....and they are all legal loans in the state of IA. I have thought about filing Ch 7 BK but I don't know if they can be included in a CH 7 BK....I have thought about paying one off at a time, at each payday, but by the time I pay all the finance fees to the others to renew it is very difficult to do that. I have also thought about letting them default and then working with the lenders after the defaults......I would get a new bank account but my credit, needless to say, is not very good at all and I don't know if I would be able to get another bank account elsewhere. If anyone has any advice or can point me in the right direction that would be greatly appreciated. I am losing sleep and am constantly worried about the PDL's and everything else in my life is suffering because of it. Thank you for your time and look forward to your input.

Payday loans always create problems for the consumers. That's why, it is always suggested that you avoid such loans. As far as I know, you will be able to include all the payday loans in your Chapter 7 bankruptcy filing. This will also help you in getting a discharge from such loans. You should contact your bankruptcy attorney and check out what steps you need to take in this regard.

In case, you want to avoid the bankruptcy filing, then you can go for the option of debt settlement or debt consolidation. You should contact the local debt relief companies and they will assist you in consolidating or settling your debts.

All of you lenders, as you know, are legal in Iowa. Most of them will do nothing more than send the account to thier in-house collections department. At this point, you can set-up payments. The only ones that I am not sure about will be:

EZ Pawn - New to the state

Davenport Check Cashiers - Have not crossed paths with them in years

The Cash Store - They do sue, but since you borrowed on the other side of the river, I am not sure.

The other option is the EPP. In most cases like yours, having so many loans, this is not a viable option. If you chose BK, then you can include all of these in your filing. This, I know from having the papers delivered to me at my stores. You can also contact Consumer Credit Counseling and they will help you. Use a local, non-profit that you can find inn the Yellow Pages. DO NOT go online for this process as they will charge you unnecessary fees.

If I was in your place, then I would have tried to avoid filing bankruptcy. After all, bankruptcy lowers one's credit score by 250 points. I would not want to lower my credit score.

Talk to your lenders and try to arrange a payment plan. I you are not able to strike a deal, then you can approach a payday loan debt consolidation company. The consultants will negotiate with your lenders and arrange a suitable payment plan for you. You can get back your sleep again.

What is more important? A credit score or keeping your home!!! You are not looking at the entire picture. Have you ever been in debt?

Hey Soaplady! Thanks for the input. I am a great fan of yours. I just love your answers.

Home is of course important than the credit score. There is no question about it. Actually, I was referring to her payday loan problem, not mortgage. What I meant is that, I would have tried to not file bankruptcy to get out of pdl mess. Bankruptcy would be last option. The lawyers charge so much fees.

Like others, I have got into debt troubles in the past. This is why I don't want others to go through it.

i understand your stance,but i know you didn't read the opening post as the OP is behind on their mortagage.that in itself is a credit killer.i highly recommend the ch7 bk in this case,and the OP can reaffirm the mortgage and get that caught up.btw when someone says they are behind on their mortgage it's usually two months,or more behind so again for the OP to continue this downard spiral and to advise that is irresponsible.