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Paying off 5 payday or installment loans

Date: Tue, 07/25/2017 - 12:51
Submitted by Cathy Hurst on Tue, 07/25/2017 - 12:51
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I need information about what I can do to pay off my installment or payday loans. I have 5 and I am in over my head. I have a $366 car payment on top of my other obligations. Please advise as to any options I might have.


In which state do you live in? Are the payday lenders legal in your state? Please mention the name of the payday lenders here,

Regarding car payment, talk to the lender to extend the payment date or you can refinance the loan. Don't be late; otherwise, the auto lender may take the repossession of your car.


Submitted by Sanders Patricia on Wed, 07/26/2017 - 06:09

Sanders Patricia

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Hi Cathy! The first thing you need to do is list the names of the lenders for the 5 loans, the amount, and how much you have paid. If the lenders are illegal, then you are only obligated to pay back the principal amount. Also if the lenders are illegal, then you will need to follow the "Illegal lenders" sticky in this forum to revoke ACH and EFT authorization. You will need to work out a payment arrangement with any legal lenders because you owe the principal amount plus interest. I hope this helps!


Submitted by WB on Wed, 07/26/2017 - 03:24

WB

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Check out this link for your reference.
https://forums.debtcc.com/paydayloan/dealingwith-illegallenders.html


Submitted by SC on Wed, 07/26/2017 - 23:09

SC

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