Payday Loans

Here are some steps 1) close your account and open a new one 2) contact the lenders and explain to them your situation tell them you will be contacting them within a couple of days to make arrangements 3) sit down and figure out what you can afford to pay them in total, divide that between them and 4) contact the lenders and tell them how much you will be paying and how often.

make sure you promise an amount that you can really afford to pay. don't give in to their pressure to pay more... be up front and honest and most will work with you.... some won't but still don't worry, despite the threats they may make they really can't do more than sue you to recover the money....

5) make sure you understand your state's laws pertaining to payday lenders.. this will help you work with the them.

You may want to register here that way you can more easily get help in doing this. All of us here are willing to help, just bring your questions and problems and we will work for answers and solutions.

They will not be able to get you for writing a bad check, since technically you didn't write a check...unless these are store-front lenders to whom you gave an actual post-dated check...but from the sounds of it, these are internet lenders because they are debiting from your account, not cashing your checks. Correct?

Follow what JJ says...he's got you on the right track. Please register with this site and search the forums for similar problems, you will find much help on payday laws in your state.

I also fell into the payday loan trap, taken out one to pay the fee on another. It eventually became to much for me to handle and I didn't know what to do. I sat down with a local consumer credit agency who was very helpful. She advised me to close my account and I gave her all of the information for my payday loans and she sent them all proposals for me to make monthly payments. Of course they tacked on NSF fees but I knew that was going to happen. I now make one monthly payment to the credit agency and she then forwards a payment to the payday loans. I have it setup that I will have them all paid off within 10 months. I must warn you there are going to be stubborn lenders who at first won't want to accept your payment proposals but we just keep sending money and eventually they just deal with it. I have also had to put up with some harrassing phone calls from collection agencies but it just takes time and communication. I am even working two jobs now so I can get these paid off and never have deal with any type of PAYDAY LOAN again.

Thanks for all your suggestions. I didn't know I could consolidate payday loans. Can you refer me to a creditable agency that I can set it all up online?

And yes, it is online services I used

please register with this site, and you can be given some helpful info!! I've got my payday loans consolidated as well. Now, I know some people choose and like to do it on their own versus going with a consolidation company, but for me, the consolidation company has worked much better.