which company to use?

hi..i saw your other thread about the pay day lender. Most credit counselors will not take just 1 loan(account) on a program. Also, it may not stop any legal action. You really are better off trying to work out a plan with the pay day lender directly. Do it in writing...if they take you to court, you can show the judge that you tried.

T&C is good, however I wouldn't really call them a credit counseling service, maybe they are and I just never heard it. They are very nice and legit and they do help you with PDLs. Call them tomorrow first thing. I don't know what time zone you are in, but they are in Alabama (eastern time zone). So if you are not in that time zone, you might have to get up early to call them. I say that because they are really busy and you might have to be on hold awhile, but don't hangup they are just really busy.

keep in mind that if they are going to sue you, T&C and other companies will not stop the legal action.

keep in mind that if they are going to sue you, T&C and other companies will not stop the legal action.

Well, that could be said about anything. But, you are correct they can't stop the legal action, but doing something is always better than nothing.

I was told payday loans can't be included in debt management programs. This was in Ohio less than 6 months ago.

You can get a Free Counseling from our community expert for getting out of debt

If you are in Ohio TRY HERE.

pittn3 - what state are you in? This could help us help you find the best possible way to handle this.. most payday companies are so shady i'm not sure if they would actually sue (and shed light on their problem areas??) I could be wrong though..

T & C is somewhat unique in that they are a dmp that does have relationships with PDL's. While they can't stop a PDL from suing you, a PDL is less likely to go to the expense of suing you over small loans if you are making consistent payments through the DMP. I am with them and I do reccomend them. Be persistent and ask a lot of questions.

The first step is to determine whether the loans are legal or illegal in your state. The illegal ones should only be paid back the prinicipal amount borrowed and not a penny more.

Hi,

I have about 8 payday loans total of about $3080 all together (including the interest) I have been paying the interest only for over 2 months and cant even pay my own bills now. I heard something about it being illegal in California to pay excessive interest and some other illegal things but I'm not sure. I just want to consolidate so I can make one monthly payment on the principal amount. Can anyone help?

I would very seriously consider closing your bank account. That is typically the first step in getting out of the multiple PDL mess. I've been there and so have many others on this board. But first read the information on this site about things to consider before closing your bank account.

You also need to find out which PDL's are legal and which are illegal in your state. If you list out your PDL's, the principal amount borrowed, what you've paid so far, and the name of the lender, there are many on this site who will be glad to help you in regards to the legal status of these PDL's in your state.

If they are illegal, then you only have to re-pay them the principal amount borrowed - nothing more. If they are legal, then you'll need to work something out with them.

But you really need to look into closing your bank account. They will debit you forever if you don't.

Can someone give me the contact info for T & C? I too have been trying to find a reputable company who will not screw up my credit more than what it already is. :?