English Deutsch Français Italiano Español Português 繁體中文 Bahasa Indonesia Tiếng Việt ภาษาไทย
All categories

Have not so good credit, but have a good job and can make payments It is just that the payday loans in particular are costing a lot in service charges, and I'm struggling to keep up

2007-06-20 05:36:06 · 3 answers · asked by Ernest B 1 in Business & Finance Credit

3 answers

As long as you PROMISE not to use your credit card anymore, check into a signature loan at your bank. Offer to set up payments as a direct deposit from your paycheck/employer. This would be weekly or bi-weekly payments, however often you are paid.

A signature loan you are more likely to get about a 15% interest rate.

2007-06-20 06:32:35 · answer #1 · answered by Stephanie J 5 · 0 0

You might not be able to get a consolidation loan if your credit isn't good. Set a goal to decrease the amount of the payday loan each time. If you can cut it down even $50 each time, you'd be rid of it in about 4 or 5 months. Cut it more than that if you can.

I normally wouldn't suggest this, but if you have any of your credit card limit that's not used, even taking a cash advance there, expensive as it it, is probably cheaper than continuing the payday loans - they're killers!

Stay away from Internet sources who offer you loans - many of them are scams, will take your money for their "fees" and you'll get nothing.

Good luck.

2007-06-20 05:44:23 · answer #2 · answered by Judy 7 · 0 0

If you have a good job, get rid of the payday loan first. Pay day loans are the worst things that anyone can get. Most of those organzations are predatory lenders that charge an ultra-inflated interest rate. Do a budget for yourself and make it your priority to pay the payday loan first. Contact your credit card company to make some payment arrangements.

2007-06-21 02:09:08 · answer #3 · answered by philly_romantic 6 · 0 0

fedest.com, questions and answers