payday loans sent to collections

Date: Thu, 01/19/2006 - 09:55

Submitted by anonymous
on Thu, 01/19/2006 - 09:55

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Total Replies: 2

I need some help on how to deal with collections on these. I admit I owe the loans, but like many on here I fell into their trap of reloaning and now I am haveing a hard time gettting them paid. They continue to add charges to my account and my bank account. Can anyone give me some advice?

First, close the checking account they have access to. This wil

First, close the checking account they have access to. This will keep them from withdrawing any money from your account. Then call them up and explain the difficulty you are having and try to get them to accept a payment plan and make arrangements to pay them either by western union, or by certified check. Once you have a payment arrangement set up, stick with it. You can get out of this!

lrhall41

Submitted by Bowen29 on Thu, 01/19/2006 - 10:39

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Set aside some money each month and send it to the company. You

Set aside some money each month and send it to the company. You need to handle your budget very strongly so that you can come out of this trap. Never take a payday loan in the future as you might have realized the consequences of taking it.

Most of the creditors are willing to work with the people. They will be getting their money back if they accept your proposal. Stick to your plan once set. Remember, lenders might offer you some benefits during your payments. If you hurt the plan, these benefits will be withdrawn from you completely.

lrhall41

Submitted by david on Thu, 01/19/2006 - 12:12

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