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Date: Fri, 01/23/2009 - 12:29

Submitted by billbarry8899
on Fri, 01/23/2009 - 12:29

Posts: 5 Credits: [Donate]

Total Replies: 6


Well it all started when I was going through a divorce. My wife had left me with a number of bills and we no longer had two incomes to pay them all. She basically had said she wasn't responsible and since they were in my name guess who ended up behind the eight ball. So then i went to a bank to try and get a consolidation loan but with the economy there was no way. So I went to a Payday loan lender and at first it worked out well but then I got another and another and another. I solved one problem but created another. Now they are just overwhelming so looking for some ideas and information on what I can do to get my head above water.

Bill


You should not have taken payday loans as they have a very high interest rate as compared to other loans and forces you into vicious circle of debt. Now, since you have already taken payday loans to repay back other loans, the only way to get rid of these loans is to go for debt settlement program. Debt settlement programs generally reduces you debt to 40 to 50% of the outstanding debt amount.


lrhall41

Submitted by jstn.credit on Tue, 03/03/2009 - 04:58

( Posts: 139 | Credits: )


Were these storefront loans or internet. Can you tell us the state you live in, the amount of each loan, the lenders name and how much you have paid each one so far including rollovers. You may have already paid what you legally owe on some of them but without that info there is no way of knowing!


lrhall41

Submitted by Frogpatch on Tue, 03/03/2009 - 05:24

( Posts: 5381 | Credits: )


Quote:

Now, since you have already taken payday loans to repay back other loans, the only way to get rid of these loans is to go for debt settlement program. Debt settlement programs generally reduces you debt to 40 to 50% of the outstanding debt amount.


This is simply not true.

If we can have the information that frogpatch asked for we can help you further on what direction to take.


lrhall41

Submitted by nohiogal on Tue, 03/03/2009 - 06:11

( Posts: 2582 | Credits: )