Im stuck in payday loans and have no way out . I reside pay day to payday as it is .?

Question

I I have taken 4 paydays loans out and im unable to pay them off . They call my job and harress me everyday . I do not have any cash to pay them off . They keep reminding me that i have sign a legal binding document can someone please give me some tip on how to handle this situation.

Answer 1

I hate to be the bearer of bad news..but...payday loans when you sign the contract, can and will take you to court, sue you and garnish your wages, attach bank account so they get there money owed to them. That is why they call them payday loans..it's a loan until you get your paycheck....Having 4 payday loans out only dug you into a hole deeper...apparently what you borrowed didn't even meet what your paycheck take home is....The only thing you could do is borrow from a relative and pay if off and stay away from there...If you don't have that option..the only thing that stops a garnishment is a bankruptcy.

Answer 2

I'm pretty sure that if they are calling you at work they are violating the Privacy Act.  Also, check any predatory lending legislation in your area (different laws in different states.)  The fact that they are causing you "economice hardship and embarassment" at work should be enough for you to be able to negotiate something out.  Talk to a supervisor and ask how it is that you can come to an agreement if which they will get their money.  Explain to them that if you get fired they won't get anything.  Should that continue contact an attorney.  Hope that helps.

Answer 3

Well, first thing is, have you learned that Payday Loans are not a good idea.  You pay too much for them.  I would read the contract that you signed and see if there is anything that you can do.  If not, you did sign a legal binding document and you're held liable for it.  Now rather than file a suite against you and pay legal fees you could offer them to pay them a little every week.  I'm sure they've hear the story a thousand times and they might accept it.  Good luck.

A site I've recommended in the past would be...

http://www.knowledged.info/go.php?link=l...

Hope that helps.

Answer 4

try going to a bank and getting a personal loan to pay them off the interest will be lower, but you also may pay over a longer period of time. Also contact your state attorney generals office about them calling your work.

Answer 5

It depends on how much they are but if you can, as soon as you get a pay check pay it all to them even if that means u will be late on a bill or overdrawn. Paying an overdraft fee as S****y as they are is far better than those payday loans, the interest on them is killer it should be against the law. Even barrow money from friend or family if you have to.