How do I pay off these payday loans while still leaving me enough money to pay for all of my other expenses?

Question

I got sick and called off work for about a week and turned to payday loans to cover what days I have missed. I received $700 from three lenders, this means with finance charges, I owe about $1000 back to these lenders. I cant afford to pay them back. I knew getting payday advances was not a good idea but I needed the cash at the time. My credit is not in the best standing, is there any way to consolidate this debt to make it more reasonable than to pay the interest rates they provide?

Answer 1

1. Sell something.

2. Get a temporary part-time job.

3. Beans and rice.  Rice and beans.

4. Ask a family member for a lower-interest loan.

5. Cut out luxuries.

6. Quit bad habits.  (It helped me save a bundle.)

7. Pray.  (Seriously.  What can it hurt?)

Answer 2

PAY THEM OFF NOW AND DONT EVER USE THEM AGAIN!!!!!!!!!!!!!!!!!

These are not like credit cards and bank loans they have major late charges and huge interest rates... only the stupid use these places.

Answer 3

kick yourself in the butt, then get up and go find you a man or woman wit money, and let your charm do the rest..... paid off in no time.

Answer 4

You must get rid of that debt first. Reduce your spendings to a minimum. Tear up those credit card for now. Pay only cash for what you need. You have to  keep a closer reign on your finances.

Answer 5

Well, I don't know where you live, but I can tell you how it works here.

When you get an advance of your pay from a payday loan place...it is until you next paycheque only and at the time you get the money you give them a cheque dated for your next pay day for the amount borrowed and the interest.  

I don't even think it is legal to get more than one of these based on the same paycheck like you have done.

Did you not write three different checks then at the time you got these three loans, dated for your pay day?  You can't just not pay it...it will cost you major interest and ruin your credit further...never never never borrow more than you will be able to pay back right away.

Also, if you have a money mart where you live, always get your payday loans from them...their interest rates are way less than any of the other places...it makes a huge difference...the other guys goage you and take advantage of your need for money.

Answer 6

yes, I know a scam free loan company that could help you consolidate  your debts. they have a wide range of programs to serve their clients including hard money for fast even acquiring commercial property. you can  call today [phone]

Mr Thomas Hanks

Globaly Aquinted Org

United Kingdom

email  [e-mail]

Answer 7

i got stuck in one of those for two years and waisted a lot of money. i paid it off with my income tax return and never went back to one. i know of no way to consolodate a pay day loan since it is not a real loan. go with only the basics until you get it paid off.

Answer 8

Ask the manager if you can set up a payment plan. I just went and took out another loan (like an idiot) to cover what i couldn't pay to the first place when i was short one week. When i went to pay this 1st company back, i told them what i did and they offered to set up a payment plan. The manager was really nice about it and said that she wished that i would have told her b4 i took out a 2nd advance. Both places let me pay 1/4 of each loan every pay period until paid in full. Just try it.

Answer 9

Well giving them anything is better than giving them nothing at this point before you further damage your credit. What I would probably do is see if you can work out a payment plan with them, they probably will because they would rather see a little money than none at all. My friend is up to his eyeballs in debt right now because of things he has bought and payday loans he has taken out. Right now he is making small payments to all of the companies he owes money to, sure it sucks but at least they are not sending collection agencies on him. Just remember after you get these paid off, remember what kind of problems these cause.

Answer 10

I would advise you to call your bank and put a stop on the check that you gave them.  They are unethical and will take every penny you have.  These people/companies do not ever follow up on a stop on a check.