How do I pay off all the payday loans I have is there a debt consolidation for that?
Question:
Answer:
I don't think pay day loan companies work with debt counselors or consolidation firms. You're stuck. Pay them off immediately, no matter what you have to do and never go that route again.
I have posted several answers about pay day and title loan practices. It is a total rip of and you're just playing with legalized loansharking at its worst. At 435% or more per year in interest, there is no possibly way to repay the debt with your actual income stream. You are upside down the moment you borrow the money, even if it is only $25.
Borrow the money from a more favorable lender, even friends and family to retire the debt with the sharks and move on. Best of luck.
No! You must pay when due, or they'll cash the check you wrote to them! It's a dangerous trap to fall into; that's why the law is changing as of June this year, limits will be set on how much you can borrow each month. Get your finances together, because you could be in a real mess by summer!
More Related Questions & Answers...