Internet's first get-out-of-debt community - 128,000 members

Posted: Wed Jan 17, 2007 5:47 am Subject: We started to get behind on bills

My husband was laid off for a month and we started to get behind on bills. So we decided to take out a payday loan to get us by until he returned to work. Well, once he returned we found ourselves trying to catch up on past due bills and pay the payday loan. Needless to say we have 4 payday loans now and we can't get out. Does anyone have any suggestions?

Posted: Wed Jan 17, 2007 5:51 am Subject:

cwilliams -

Welcome to the site!

First, if you can provide us a little more information about your situation, we can give you a little more advice.

-what state do you live in?
-are these internet or storefront loans?
-how much was each loan, and how much have you paid on each of them?

With this info, we can give you some tips on how to deal with this situation.

Posted: Wed Jan 17, 2007 5:58 am Subject:

I live in Missouri. I have a $250 from storefront, $585 from storefront, $600 from internet and the other one is King of Kash where you borrow the money and they deduct $30/$100 per month and after 12 months it pays itself off, $2000. When you ask how much we have paid on them, do you mean the total we've paid since we started them or since we paid them off and took out another one? After 3 renewals they make you pay them off and then take it back out (except King of Kash).

Posted: Wed Jan 17, 2007 7:10 am Subject: Same situation

cw, I am in the same situation as you. got inway to deep. I have 6 going and am having a hard time keeping up with the bills plus the renewals. I can't even pay my rent now. I don't now how to get out of it.
Live in NH
4 internet payday loans
1 store front
1 title loan.
Can't even pay the min on these. We make good money but somehow we are always broke.

Posted: Wed Jan 17, 2007 11:42 am Subject:

Most internet loan companies are not following with the state laws. Check the company if they are licensed to do business in your state. Besides, review their fine print with the charges mentioned in your state. You will figure out if they are adding charges legally. If not, your nest step will be to report them to your state AG and the local BBB.

Storefront lenders usually follow the laws and are easier to deal with. Call them and make a proposal. They may offer some extensions suitable in your situation. Give a call and get the real story.

Finally, there are companies that settle debts with pdl companies. You can try their free quote and know how much debt can be settled using their services.

Posted: Wed Jan 17, 2007 11:47 am Subject:

Check here to see your state's laws:

www.paydayloaninfo.org.

You can also find out whether these companies are licensed at this site.

Good luck to you.

Posted: Mon Jan 22, 2007 5:13 am Subject:

How do I find out if these companies are licensed in MO or not? I tried looking on the paydayloaninfo and I couldn't find that information.

Thanks

Posted: Mon Jan 22, 2007 6:47 am Subject:

Search the company's license in this pdf file. It lists all lenders who have a legitimate business in MO

http://www.missouri-finance.org/upload/--_500_most_recent_company_list .pdf

Posted: Thu Jan 25, 2007 12:44 pm Subject:

I really need help. Are there any companies that work with payday loan companies to consoldate loans and make payments?

Posted: Thu Jan 25, 2007 12:48 pm Subject:

I'm sending you a pm cwilliams

Posted: Thu Jan 25, 2007 12:49 pm Subject: debt

CWilliams, Yes they're are companies that deal with this type of debt. Please be careful choosing one. Always do your homework researching these people. Some cases things have not worked out and people have been taken advantage of. Also check your secretary of states website to see if the internet cvompanies you have are licensed in your state. KYSIDE38

Posted: Thu Jan 25, 2007 1:03 pm Subject:

The PDL's that I am going through are all licensed. Do you think it would be best to try a consild. company or write letters and try working it out on my own?

Thanks

Posted: Thu Jan 25, 2007 1:07 pm Subject:

You can try working out an arrangement with them. Which companies are you dealing with? Some are easy to work with than others.

Posted: Thu Jan 25, 2007 1:37 pm Subject:

One store front King of Kash and one internet Cashnetusa.

Thanks

Posted: Thu Jan 25, 2007 7:13 pm Subject:

cashnetusa is easy to work with just give them a call. if you defaulted with them they will help you setup payment plans. I defaulted 380 dollars and had it paid in no time.

Posted: Thu Jan 25, 2007 7:51 pm Subject:

I am sorry that this is occurring to you and your husband. Cashnetusa will be willing to work with you.

As for the storefront, unless they are willing to work with you, they may present a problem to you. I would recommend that you contact each of these companies and try work out payment arrangements.

*Name:
*Email:
*Phone:
*Zip:
Debt

	* denotes required field

Internet's first get-out-of-debt community - 128,000 members

We started to get behind on bills

Members Area

Free Debt Counseling

Ask the community

Community Photos

Featured Discussions

Featured Articles

Question of the Month

Also See

Recent Forum Discussions

Recent Blog Post