Help with payday loans

laf - welcome to the forums!

Here is the payday lending law for Rhode Island(just select your state),

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

It appears that your state law is not very consumer-friendly, unfortunately. It doesn't specify a repayment plan, and doesn't specify that criminal action is prohibited.

You will need to find out if any of the companies are licensed in your state. Here's where to find the licensee database for Rhode Island: http://www.dbr.state.ri.us/pdf_forms/bank/List%20of%20Licensees.pdf

The lenders that are licensed and operating legally in your state are the ones you will really need to be careful with. Talk to them about a repayment plan and see if they will work with you.

The companies that are unlicensed in your state will need to be paid as well, but I would recommend paying them the principal of the loan plus the interest allowed by your state (shown above). Then send them a letter via certified mail, return receipt requested, and ask to be marked Paid in Full.

Hope this helps you get started - it may seem like a pretty large task, but when you get done, you can look back and say, "Whew! I'll never do THAT again!" - knowing that YOU were the one that got yourself out of that situation! :-)

Does anyone know if there is a way to consoldate this debt?

Some debt consolidation companies will work with payday lenders, some will not. You can check with T&C (Town & Country) - I understand they have helped many here.

You can also check out Langhorne, as they also work with PDL's and make the decision to go with who will be best for you. Good luck.