Loans Guide answers:

Pull your credit report to see if anyone has you listed in default.

Loans Guide answers:

DEFAULT and settle. CONsolidation loans actually make Payday loans look sane.The companies can be trusted, TO RIP YOU OFF.

Loans Guide answers:

You will not go to jail but they might take you to court — with the interest that payday loans charge you had better get them paid off before you pay any other bills!!!

Loans Guide answers:

You will need a debt consolidtor that specializes in payday loans. They will probably need some collateral to secure the consolidation.
As far as closing your account, depending on what state you are in, you have left yourself open to bad check charges, ( I mean charges brought against you in a court of law) and the punitive damages thereof.
Depending on your contracts you are also open to direct garnishment of wages by the lender, or court ordered garnishment.
The longer you wait to work on a fix the worse the situation will become (and interest!!).
Good Luck

Loans Guide answers:

Debt consolidation programs will not help with payday loans. They won’t budge on the payments or interest rates.

See if you can get a credit card with 0% interest on balance transfers and pay them off that way.

If that doesn’t work, www.CashCall.com doesn’t look at your credit and you pay them once a month, not every payday.

Loans Guide answers:

I would advise that you contact your local financial instituition and they should be able to help you with the matter at hand

Loans Guide answers:

Pawn shops offer what you are looking for

Loans Guide answers:

If you have an account at a credit union, maybe you can get a payday loan from there. Or just pawn you psp2. Or borrow from your friends.

P.s. Pls dont sell your cats! =)

Loans Guide answers:

I would not do this. In my state we have a Consumer Credit Counseling that help people and they charge hardly nothing. You will only get in deeper. Call a credit union bank and let them tell you of a local group where you live. They charged me like 2.10 cents several years ago. Now as far as those pay day loans, there is not really much they can do to you. Either pay them off or take your money of the bank and stop taking their calls. I know that that doesn’t sound right to some people but they are crooks and I know this first hand. They really don’t want you to pay them off because this is the way they make their money. Thankfully we had a bank manger to fight them.

Loans Guide answers:

You do not want any online lenders, because in your own words they are a scam. You are right on that account.

But you also don’t want any any payday lenders. Is this because you don’t have a job and therefore can’t qualify? Payday lenders are at the bottom of the barrel as far as finance institutions are concerned and many charge outrageous rates, but at least they operate within the law.

Loan sharks charge you 5-10% interest. Oh, not as an annual percentage rate, but rather per week (interest rate = 260% to 520% per year). But Giovanni at 72nd and Federal will not give you any money unless he has verified were you live. If you then can’t pay him back within a week or two including that big interest charge, then he is going to give you a visit. He will ask you to pay him on the spot or he’ll break your bones. But where are you going to get the money in that short a time if you have no job? Maybe he is not going to break you bones personally, but he will be sending Tony by to do the dirty work. Tony also had no job and could not pay his loan back, so he went to work for Giovanni. It’s just a job for Tony, you know, nothing personal.

OK, you are at the end of the rope. Try a public agency and see if you can get a government handout. You’ll probably get it if you have a GOOD reason and it is for a GOOD cause. Otherwise, the best is course of action for you is to do nothing at all and let the chips fall where they may. I can guarantee you, the consequences are not half as bad than if you get a loan from Giovanni.

Loans Guide answers:

Looks like it is time to take another job, quit spending on anything except necessities and get the debt paid off.

You cannot borrow your way out of debt my friend.

Loans Guide answers:

Since you did not express what type of debt this is it will be hard to help you. But….

If the debt is from current credit cards. Make a list and call each one and tell them that you are trying to regroup and would they please work with you
and return any of the late charges,
would they lower or give you a year interest free,
and ask what they can do to help. And set up a reasonable payment schedule with them.

If this is a credit card that has been charged off,
I would

1) try to trace down who has the debt and see if they will take a settlement. Some times they will settle for as low as 10 to 20% of the debt and they it can be paid off. Use some pressure on them…they will settle if you are firm. There are several who will not settle.

2) totally ignore the debt, if it has been charged off the debt is sold to secondary account holders and they will resell them again and again and eventually they will leave you alone. You will have bad credit for several years but eventually with new good credit the others will go away. And there are ways to get the old ones off you report.

If your debt is with stores or other loans, call each directly and see what they are willing to do to help you. Make a deal with a reduced payment and 0 interest for a while.

Goodluck

Loans Guide answers:

There are nation wide debt consolidation services that are available to all people that are in the armed services and whom are also experiencing financial problems, even if it’s management of funds, or perhaps finding a way of over coming a financial dilemma that you may be in currently. If you are in a position where it could be possible to make your minimum monthly payments, a debt consolidation program for military personnel can be the answer to your problems and save you from high interest rates, late fees, and other related loan fees.

Just visit – http://www.ezconsolidation.com/military_debt_consolidation.php
Hope it will be helpful to you.

Loans Guide answers:

I would not trust anyone on line in this business. These companies are making millions by screwing over the most vulnerable in our society, who happen to be the least able to afford it.

My suggestion would be to go and join a credit union (like a bank) and start having your SSDI checks deposited there, then apply to them for your unsecured personal loan. The fees and interest rates will be real good for you.

Loans Guide answers:

These types of places were closed in my town b/c they kept ppl in debt. They turned out 2 b a nightmare

Loans Guide answers:

You should go to your local financial institution to seek help. They may be able to help if your credit warrants it. Normally I require security on that type of loan.

Pay day lenders are the hardest credit to eliminate.

If the local lenders cannot help, contact your local Lutheran Social Services or Catholic Charities office. They have debt consultants who have had some success in paying these types of lenders off.

Loans Guide answers:

You can negotiate and work out an installment plan with the IRS. And that may be the better way to do it vs. Getting a loan.

Loans Guide answers:

What do you mean by “get in trouble”? You won’t get in any more trouble than you already in, and you are in enormous financial trouble.

You can’t borrow your way out of debt. Your situation is only going to get worse. Payday lenders are vampires, and now that you have let them get their fangs into you they will bleed you dry at 400% interest.

Eventually, one of them is going to realize you cant pay everyone, and they will sue you and get a wage garnishment.

Get a bankruptcy attorney now, while you still can. An attorney must be paid before they will file your case, so you need to begin the process sooner rather than later.

Nearly all consumer bankruptcy attorneys offer free consultations. Take advantage of this to meet with one and get advice based on all of the details of your particular situation. You can find a referral at NACBA.org (National Association of Consumer Bankruptcy Attorneys).

Loans Guide answers:

Can you hold on for just a bit longer…you obviously work or payday would not have loaned you money in the first place…why not use your tax refund money to pay this off.

Loans Guide answers:

That really depends on the kind of debt consolidation programs you are referring to. Debt consolidation comes in many forms, such as credit counseling, debt settlement, debt consolidation loan etc. But as far as I am aware, not many of these options will not deal with pay day loans (except for maybe a debt consolidation loan, wherein you are applying for a another loan to pay off your current ones).

But don’t lose heart, there are ways to deal with payday loans. These small loans, also called “cash advance loans,” “check advance loans,” or “deferred deposit check loans,” are a frequent pitfall for consumers. A fee anywhere from $15-$30 per $100 borrowed is charged for an average loan of $300. With rates so high and the term of the loan so short there’s no wonder that a very high percentage of these loans are rolled over by the borrower again and again so that the accumulated fees equal an effective annualized interest rate of 390% to 780% APR depending on the number of times the principal is rolled.

The Federal Trade Commission offers a great Web page regarding payday loan alternatives at: http://ftc.gov/bcp/edu/pubs/consumer/alerts/alt060.shtm

There are eight states whose payday loan regulating statutes requires lenders to set up an installment repayment plan if an account reaches the maximum number of rollovers allowed by law and the debtor declares that he/she is unable to pay the balance due.

Check out the payday loan information from the Consumer Federation of America for payday loan information (http://www.paydayloaninfo.org/), where you will be able to read all about these loans and the various state attempts to regulate them. Follow the “state information” link to find out the specific regulations for payday lenders in your state, and if you live in one of the eight states requiring installment payments.

If your state does require repayment plans, and the lender still won’t accept payments, call your state regulator of payday loans, usually an assistant Attorney General, and complain. You should get the results you want after the Attorney General’s office becomes involved.

If you are not in one of those states, you may want to consider simply making payments to the lender anyway to pay down the balance of the loan over time. In most states, the rollover limit will soon be reached, and the interest rate the lender can charge will be capped by state law. If the lender will not accept your payments, simply put what you can afford aside until you have enough money to either payoff the loan or to offer a settlement. Read the regulations in your state to find the best strategy for your situation.

I wish you the best of luck. I hope that the information I have provided helps you Find. Learn. Save.

Best,
Bill
http://www.Bills.com