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Can I settle payday loans on which I haven't made any payment?

Submitted by Hensa on Thu, 01/02/2020 - 21:51

I have 2 payday loans. One is $900 and the other one is $1000. I haven't made my first payment yet. Can I settle booth of them?

If they are not legal lenders, then just repay the principal amount. If legal loans, talk to them or take the help of a debt settlement firm.
You can leave your details here for a call from a company.

Submitted by Mabelle Page on Tue, 01/07/2020 - 05:24

Mabelle Page

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What state are you in? In most states, it's illegal to lend $900 or $1000. In most states, the maximum loan amount is capped at $500. I have a strong intuition that both the loans are illegal. Check the state laws first before even thinking about settlement.

Submitted by Nick Jonas on Wed, 01/08/2020 - 22:22

Nick Jonas

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Hi Hensa!

Yes, you can settle both of them if you have taken out legal payday loans.

My advice to you is to contact a payday loan settlement company. The payday debt settlers will negotiate with your payday lenders to reduce the outstanding balance into an affordable figure. Your rate will be cut down too.

Pay a single monthly amount to the settlement firm. They will take the responsibility of disbursing the amount among your lender(s).

The firm will also save you from paying additional interest rate, fees, and hidden charges to the payday lenders.

So, you haven’t made the first payment now, right? Don’t worry. Contact the payday debt settlers. Let them take the headache on your behalf.

Happy New Year!

Submitted by Ryan Miller on Mon, 01/20/2020 - 23:40

Ryan Miller

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