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Payday loans...what should I do?

Date: Sun, 04/10/2011 - 15:46

Submitted by cnt2g
on Sun, 04/10/2011 - 15:46

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Total Replies: 2


I feel relieved in reading everyone's posts. It is just comforting to know I am not alone in this, and my situation isn't half as bad some out there. Still, I would love guidance and advice from you guys.

I live in Tennessee and have out 3 payday loans... One for $100, one for $75, and one for $300.

The first two are through Advance Financial and the third is through Check n Go. I did have a fourth but I was able to pay that back a while ago.

I am just scared and tired of having to renew and just stay in the cycle of paying these interest fees. It is very stressful keeping up. My payment with Check n Go is due on Friday the 15th and the ones for Advance are due tomorrow. I can take care of tomorrow's payday loan, but Friday for Check n Go I am worried.

They use to be okay with working with me, but lately, have gotten strict. I use to come in on Mondays and pay, but they have been telling me Friday or else they'll deposit. Well, I have zero in my bank account and don't want to go under. I thought about going to my bank (Regions) who have always been kind and helpful. I tried to get a loan through them once but it was over the phone and I wasn't employed at the time. But now that I AM employed, I wonder if they may be able to offer me a loan. I honestly just want to pay these payday loans off and then worry about my other debts (installment loans and a few bills) which I think I could handle.

What do you experts think I should do? Should I seek out another installment/signature loan? Should I get a debt consolidation loan? I know my payday loans are not that terrible, but with those payday loans included, I have about $2,000 dollars that I need to pay back. I would love it if I could just pay one lump sum a month, you know?

All advice and help is greatly appreciated!

Courtney


Oh...And these are both storefront and I have been renewing every single time. So there's no telling how much I have paid so far. Advance Financial I am not so worried about but Check n Go... could anyone tell me if there is anything I can do to pay them off without having to keep getting drug through the cycle?!


lrhall41

Submitted by cnt2g on Sun, 04/10/2011 - 15:50

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I don't think you'll be able to get debt consolidation loans. However, you can apply for a personal loan in order to pay off the payday loans in full and get rid of the payments. You need to check out if the payday loan companies are legal in your state. If they are not legal in your state, then you need to pay only the principal amount to them. After knowing your state laws, you can accordingly negotiate for a payday loan settlement and get rid of your debts.


lrhall41

Submitted by on Mon, 04/11/2011 - 02:28

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