Pay Day Loan Debt

Submitted by sister on Sat, 05/10/2008 - 00:16
Forums

I would like to know in order to settle with 5 payday loans companies...is it possible a debt management company help without filing bankruptcy

Yes..it IS possible for a Debt Management company to do this. You may want to 'Google' about different companies. Also...it would be a good idea to go to the BBB Website to see how each company 'rates'. A PDL is an 'unsecured' loan, so it shouldn't be hard to consolidate them.

Sat, 05/10/2008 - 00:48 Permalink

Hi sister

since you are having 5 payday loans it is better to get consolidated and reduce your debt burden. This will also not affect your credit rating. As soon as you go for a debt management program there is a comment on your credit report stating that you are paying your debt through credit counseling agency and it stays on your report until the debt is fully repaid. Yes, I think it is possible for a debt management company to help you without filing bankruptcy.

Sat, 05/10/2008 - 06:01 Permalink

Have you tried to settle this with the companys on your own? Debt management compamys have to pay their bills too and I dont thik that the PDL companys are going to pay them. I think that you may save some money by making payment arragements with these companys on your own.

Mon, 05/19/2008 - 06:18 Permalink

Good advice. It really never hurts to try. I mean you don't have nothing to lose by giving them a call.

Mon, 05/19/2008 - 12:03 Permalink
crorkz (not verified)

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Tue, 08/05/2014 - 06:03 Permalink