Karrie M asked:
I have taken out too many payday loans and now I am having problems paying them all back and paying my bills at the same time. I am now late on most of my bill because of the payday loans…..please help!!!
Can I be arrested for default on payday loan?
I have taken out too many payday loans and now I am having problems paying them all back and paying my bills at the same time. I am now late on most of my bill because of the payday loans…..please help!!!
Can I be arrested for default on payday loan?
January 11th, 2009 at 10:05 am
Nothing you can do to consolidate them. Pay day loans are designed so if you don’t pay it off in full then they accumulate interest at a very high rate. They basically design them so that you take your first one out, then you have to pay it back, but you need more money so you take another one out and so on. It’s a vicious cycle… I’d say take out a small personal loan from a bank to pay them off that way you can consolidate them into the one loan…but banks are not really lending out money right now… Sorry…
January 13th, 2009 at 4:08 pm
Get help by contacting a good debt settlement firm. Pay your regular bills first, get you self on a budget and take a deep breath. You will get through this!!
Give me a call, if I can’t help you I some resources that can. You don’t want to take out another loan, go with debt settlement.
January 16th, 2009 at 9:56 am
Many credit unions offer assistance to people in your situation (overburdened by payday loans). If you are not a member of a credit union, you can go to the following website to find one to join:
Hope this helps. Good luck!
January 17th, 2009 at 10:43 pm
I think that the best thing to do is to just ask a relative for cash. Payday loans are fast but also expensive so pick your poison and pay it off asap. The site I recommend is: Good luck.