If you get stuck paying back payday loans is there something you can do?

Question

I have three payday loans and are all due at the same time. I know it was dumb of me, but I want to know if there is a way of getting help or what do you guys suggest I do?

Answer 1

are they on line or in person loans?

i would say pay them off and reloan for a lesser amount. you will have less due on your next due date, and you won't be completley broke until your next pay period.

if you go on a payment plan, you will be blacklisted from payday advance companies, and if you miss a payment, you will be subject to immed. small claims filing, which will result in you owing more money than when you started.

Answer 2

This is why payday loans are bad news.

Failure to pay is the same as Felony bad check writing especially if they are over $500.

You have to pay them.

Try to get a loan at your bank to pay them off in small payments you can afford. Take the loan and pay them off.

Join a credit union and establish a regular pattern of savings.

Answer 3

I would call them ahead of time and let them know that you are having problems paying them back and if the due date could be extended. I think I read somewhere that they have to give you an extension??? Not sure though. But I am sure they will work with you if you let them know before hand. Catch them before they send your check to the bank for the money because then you will have overdraft fees from your bank as well! Or maybe pay at least one back and work out a payment plan with the other 2. Good luck!

Answer 4

Oh, wow.

Guess the only option is to see if you can go on a payment plan, but if you signed papers that promised the money by a certain date, you are screwed.

Answer 5

Stop taking out payday loans.  They are nothing more than government sponsored loan sharks.  Learn to live within your means.

I've had good results here...

http://www.surveyland.org/jump.php?link=...

Good Luck.

Answer 6

You can actually go for some debt consolidation programs. Having three payday loans in the same due date is like sitting upon a volcano....:-)