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Posted: Sat Feb 10, 2007 3:48 pm Subject: Can I get in big trouble

A few months back I got myself in a pickle and need cash on hands. Well, since then it was crazy ride with over 8 payday loans. I went flop on them ... Can I got to jail?

Posted: Sat Feb 10, 2007 3:50 pm Subject:

NO!!! There are much worse things than being in debt, you won't go to jail. It would be in your best interest, though, to make some payment arrangements on them.

Posted: Sat Feb 10, 2007 4:05 pm Subject:

Agreed, you CAN NOT go to jail over a bad debt.

Have you signed up to speak to a debt counselor, or are your going to try to attempt cleaning up your debts on your own?

If you are going to make a go of it on your own, the first step is to get a copy of your three credit reports. You can get a free copy at www.annualcreditreport.com

Thankfully, I never gave in and took a payday loan but from what I read on these boards they can be nasty to deal with. You may have an easier time if you use a debt consolidation program.

Posted: Sat Feb 10, 2007 4:31 pm Subject:

Welcome to the Community Very Happy

You didn't say if these were store front loans or internet. The store front ones should be dealt with first, they tend to get ugly if not paid, and they mostly stick to the states laws. If they are internet, you need to check whether they are licensed in your state, and how much you have paid back so far. Good Luck!..Karen

Posted: Sat Feb 10, 2007 4:49 pm Subject:

Some companies are easier to negotiate on the payment plans. Give a call and set some repayments with the loan places. You might be able to see few accounts going down. How much is your total debts?