Pay Day Loan Help
Date: Mon, 04/19/2010 - 12:20
Hi,
I desperately need some help and am in over my head with PayDay loans- what a spiraling mess.
I have 5 loans with various internet companies and am a resident of Virginia....does anyone have any advice?
I also am wondering how I go about stopping the automatic debits from my checking account- I realize this means I am defaulting, but at this point I think that is the best choice.
Thank you...
I desperately need some help and am in over my head with PayDay loans- what a spiraling mess.
I have 5 loans with various internet companies and am a resident of Virginia....does anyone have any advice?
I also am wondering how I go about stopping the automatic debits from my checking account- I realize this means I am defaulting, but at this point I think that is the best choice.
Thank you...
There are several different options for settling your loans, dep
There are several different options for settling your loans, depending on your situation and what you think is a good idea. You can consolidate your loans, work out a settlement agreement with the pay day lenders, or enroll in a debt management program. My advice is to research all of these options, and consider whether you want to try to get settlement agreements on your own or find a commerical/nonprofit organization to help you.
If you want to stop the automatic debits, talk to your bank. However, defaulting on your payments could possibly make the payday lenders less willing to settle if that's the way you decide to go.
