corissa c asked:
I got one and then got one to pay that its a mad crazy cycle and i cant break it. I just barrow to pay one and at the end of the day I have nothing? What should I do?
In the state of KS
Payday Loan
I got one and then got one to pay that its a mad crazy cycle and i cant break it. I just barrow to pay one and at the end of the day I have nothing? What should I do?
In the state of KS
Payday Loan
January 22nd, 2009 at 6:14 am
no they don’t have debters prision anymore! lol, you can default and they will take it to court, and try to have your wages garnished. it could take months so u could have enough time to save up and pay it off.
January 22nd, 2009 at 1:17 pm
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January 23rd, 2009 at 9:58 pm
No, They can’t send you in jail for default paydayloan. First check whether you have paid the principle amount of your existing paydayloan. If you have already paid the principle amount then you asked your paydayloan lender to mark your account paid in full. You can check your state law for paydayloan interest rates.
Thanks
January 24th, 2009 at 8:41 pm
No. In a civil case, the only way anyone can get sent to jail is if they don’t comply with a court order and the court subsequently holds them in contempt.
January 25th, 2009 at 11:09 am
You absolutely will not go to jail for not paying on time or defaulting entirely, so don’t worry about that! But you need to start talking to people who can help you consolidate your debt and get out of the vicious cycle.
Please don’t take out another payday loan, it will only make things worse.
Steps I would try:
1) Tell the payday lenders you’re having trouble making payments. There may be a way you can get a grace period where you aren’t hit with extra charges.
2) Read this from the KS State Attorney’s site:
~~ They suggest you talk to a consumer credit counseling service. If you can’t find one, call the Attorney General’s office and ask for help (contact info is in the link).
3) Can you borrow from a friend or relative to get out from under this bad cycle? If you can’t or don’t want to…
4) Talk to local credit unions. Their motto is “People Helping People” - you may have to talk to several, but one may be willing to offer you a loan to consolidate your debt. If you need to, offer to have your loan payments to the credit union automatically deducted from your paycheck.
The worst thing you can do is nothing - the sooner you seek help, the better off you’ll be. Best of luck!