Payday Loan Relief

Don't feel bad, I'm in the same boat you're in. You can close your bank account and open a new one, so at least the pdls can't debit your account. You can then contact the pdls and tell them the account details they have are no longer valid and if they try and initiate a debit, it will not go through. They are much more willing to work out a payment arrangement if they know they can't hit your account any longer.

hi jrgreen, welcome to the site.
Are your payday loans all online loans?

If they are..Then closing your account would be the only way to stop them from debiting you at this point. I've never heard of an online lender agreeing to stop debiting an account. I was told myself by 2 companies that you can't make arrangements unless you default. Store fronts are a whole different animal, though..They are usually more willing to make arrangements.

Once you close your account, contact the companies and set up payment arrangements. They will probably try to bully you at first, but as long as you keep your end of the bargain and keep in contact, things should work out fine. Two things, however..Do not give them your new account info, and you DO NOT have to pay by western union, no matter what they tell you.

Has a counselor called you yet? It sounds like consolidation could help you as well.

Also make sure your bank informs you of the rules of closing your account. A few people on the forum bank at places that have a 30 day rule. Meaning that your account will automatically open if something trys to go through.
You should receive a phone call soon from a counselor since you have signed up with the site. I'm with a local agency within my hometown and the first thing my counselor told me was to close my account or block my debits. I had about 8 Pdl's in one account and 5 in another. The one with 8 I ended up closing the account and the one with 5 I just blocked all debits. I prepared letters to send to all my PDL's breifly explaining my situation and that I was revoking authorization to debit my account. I also told them I was seeking credit counseling and they would be receiving info soon. I also made sure to include what contact info they could reach me at and to not call me at work. You should also check the rules and regulations in regards to PDL's for what state you live in.

:cry: Yea, I have three and they are killing me. I opened a new accout and they already have that information so it dont matter they will find you. Make arrangements that you know you can make like $50 an week bi-weekly. Ask them to give you a flat amount that you both agree on and then make the payments that is what I am doing. One of them I pay $50 a week till $900 is paid, the second one is also $900 but I pay it $50 every two weeks and then the last one I pay them local when ever I have a $20 I take it to them. My challenge is I got sick and missed one now they are not being very nice again.