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I am trying to pay 6 cash loan places

Date: Mon, 02/13/2006 - 10:46

Submitted by anonymous
on Mon, 02/13/2006 - 10:46

Posts: 202330 Credits: [Donate]

Total Replies: 8


I have borrowed from 6 cash loan places, all outstanding at this time. Trying to pay off debt and get out of ths mess. What can I do? Thanks


I am sorry to hear about your payday loan mess...I am
with you been there and just starting to see the light. Close your checking account or change your checking account number so they can no longer debit from this account...call and explain your financial situtation and make payments on them...they will start calling, but are usually willing to work out a payment plan...I hope this helps...Let me know:)


lrhall41

Submitted by sqrlrmn on Mon, 02/13/2006 - 12:23

( Posts: 130 | Credits: )


Make sure that you explain to each lender that you have others. Figure out the total amount a month you can pay and divide that between them equally. Do not tell each lender how much you are paying the others, just make sure u divide it equally. I also have a few more suggestions for you but I need some more info..

are these internet based loans or storefront loans? What companies do you owe?


lrhall41

Submitted by jj on Mon, 02/13/2006 - 12:58

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Mark, my first suggestion is close your checking account quickly. I didn't and they continued to debit my account. I ended up with lots of nsf chargers on top of the payday loans. Talk to your banks manager and they can help you either by closing the account or by freezing it so no more debits can hit the account. The sooner you talk to the bank the better off you will be.


lrhall41

Submitted by joyfordream on Mon, 02/13/2006 - 13:22

( Posts: 104 | Credits: )


Mark, has the company made any unauthorized debits in your account? If the company has not done anything against the contract you signed with them, there is no need to close the checking account.

Many people have faced the problems with their payday loan companies make debits many times than they agreed as per the contract. Sometimes, debits were also made before the due dates. So, these problems lead them to close the checking account.

If you are going through similar situations, you can close the account and open a new one. Do not give the information about the new account to your lenders.

Contact your lenders and make a payment arrangement with them. There might be a lot of negotiating times involved in this process but you will have to show your concern to pay the debt. Advance some money along with your proposal so that you can bag a better deal. Like some say through their personal experience, most of the lenders are willing to work on your payment arrangements. You have to show your concern and stick to the payment plan. They can also extend some benefits to you during the course. This will be helpful towards your repayment process.


lrhall41

Submitted by john on Mon, 02/13/2006 - 13:32

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