2007-03-14 04:52:04 · 5 answers · asked by heather d 1 in Business & Finance ➔ Personal Finance
If you can get a bank loan to pay the payday loans, that would probably benefit you the most. Just don't get another payday loan, those are there to trap you. If you don't have enough to pay in the first place, you go there, and then they will cash your check, with interest, and then you will have to go back to get another loan, just so you can pay your other bills.
Another way, if you can borrow money from someone, but I guess if you could do that, you wouldn't have went to the payday place in the first place.
2007-03-14 04:59:04 · answer #1 · answered by George P 6 · 1⤊ 0⤋
That is the problem with that industry, the outlandish rates they charge to people who are already in trouble to need these loans. The best would be to borrow money from friends or family to repay the loans but usually you don't have that option or you would not have been in this position in the first place. If you have no other options see if the companies will work with you to take less payback now till you can pay them back later when you are in better financial shape. Or work with a debt consolidation company.
2007-03-14 04:58:14 · answer #2 · answered by ALASPADA 6 · 0⤊ 0⤋
They are not a "legal" collection agency. They are a "legal loanshark". The only way you can get out of paying is to abandon your checking acct. These loans are written off after 6 mos. They cannot turn them over to a prosecutor, nor can they send you to jail (read your contract thoroughly). So stop putting money in your account and ignore them. Or pay one each month (with cash) in full until you've paid them all.(But remember, they CAN draft this from checking acct.) If they continue to harass you, call the state licensure & banking board and report them. They will notify them of your complaint and they will not be allowed to call you anymore. Or call an attorney. They are not a legal collection agency so they really don't have a right to call you to collect a debt. Call the BBB to see if they're classified as a legal collector and report for harassing calls. Once you verbally tell them to stop calling you, document every call after that. I hate these idiots!
2007-03-14 05:08:09 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Hope fully you did learn a lesson, they are only out to put you further behind. Unless you can get a loan from a bank or lender, non other than cash advancers....you may have to do another cash advance to take care of current ones, advice is to find one online that has it to where if you don't have the money by the due date you just end up paying a fee instead of having to pay a it all back.
2007-03-14 04:59:10 · answer #4 · answered by tonya l 2 · 0⤊ 1⤋
Well, you can't afford your time off anyway, so get a second job and pay these loans off, one at a time, sure it will be tough, but the sooner you start, the sooner the loans will be gone
Stop spending money you don't have.
2007-03-14 05:16:31 · answer #5 · answered by bob shark 7 · 1⤊ 0⤋