It seem like it never end. I only have chance to pay the interest. They already called me at my job and told them "that the pay day loan has to be handles now" it was embarrasing now everyone knows about my debt.
Since you have 3 payday loans, I would suggest you to consolidate them and repay it. You can contact a debt consolidation company, where you will have to undergo debt counseling. The counselor will review your financial situation and help you to chalk out a payment plan. The counselor will negotiate with your creditors asking them to reduce the interest rate and waive off the late payments charges. After you get the new payment plan pay the money on a monthly basis to the company till you have paid the entire amount. The company will pay your creditors. The consolidation company will also charge fees for their service.
However, if you wish to do it alone, then you can consider taking out a secured debt consolidation loan. You can use credit card with 0% introductory rate and without any annual fees to pay the loans. You can also try to find out private lenders who are ready to give the money. Lastly, you can also try to get an unsecured debt loan from a financial institution.
AARON..are PDL's legal in Pennsylvania? I STILL get phone calls and letters about PDL's I never paid off (I just couldn't at the time). However......those few PDL's are over 4 or 5 years old now. The SOL, in 'my' state is 4 years. However....I don't have them on my credit, either. If I call them and make arrangements to 'clear them up', I know I will be starting the SOL over again.
No, payday lending is prohibited in Pennsylvania. Thus, you are not required to pay back more than the principal amount. Moreover, in your case the statute on these accounts has expired. In addition these accounts are not there on your credit report too. Thus, you need not worry about these accounts.
Actually....the PDL's, THEMSELVES, aren't on my CR. But, the CA's, who were trying to collect for them, ARE on my CR. Does that make sense? Yep...after all of this time, a few CA's (concerning the defaulted PDL's) are on my CR. If PDL's are "prohibited" in PA, how can any CA try to collect on them? Anything I can do? Suggestions?
Christy,
Since you have 3 payday loans, I would suggest you to consolidate them and repay it. You can contact a debt consolidation company, where you will have to undergo debt counseling. The counselor will review your financial situation and help you to chalk out a payment plan. The counselor will negotiate with your creditors asking them to reduce the interest rate and waive off the late payments charges. After you get the new payment plan pay the money on a monthly basis to the company till you have paid the entire amount. The company will pay your creditors. The consolidation company will also charge fees for their service.
However, if you wish to do it alone, then you can consider taking out a secured debt consolidation loan. You can use credit card with 0% introductory rate and without any annual fees to pay the loans. You can also try to find out private lenders who are ready to give the money. Lastly, you can also try to get an unsecured debt loan from a financial institution.
PAYDAY LOANS
I NEED HELP WITH SOME PAYDAY LOANS. CAN YOU HELP ME?
payday loans
Hi Betty,
Can you tell what kind of help you need? What is the state you live in? Payday loans are not legal in all states.
Thanks,
Aaron
credit
AARON..are PDL's legal in Pennsylvania? I STILL get phone calls and letters about PDL's I never paid off (I just couldn't at the time). However......those few PDL's are over 4 or 5 years old now. The SOL, in 'my' state is 4 years. However....I don't have them on my credit, either. If I call them and make arrangements to 'clear them up', I know I will be starting the SOL over again.
reply
sdchargers,
No, payday lending is prohibited in Pennsylvania. Thus, you are not required to pay back more than the principal amount. Moreover, in your case the statute on these accounts has expired. In addition these accounts are not there on your credit report too. Thus, you need not worry about these accounts.
Thanks,
Aaron
credit
Actually....the PDL's, THEMSELVES, aren't on my CR. But, the CA's, who were trying to collect for them, ARE on my CR. Does that make sense? Yep...after all of this time, a few CA's (concerning the defaulted PDL's) are on my CR. If PDL's are "prohibited" in PA, how can any CA try to collect on them? Anything I can do? Suggestions?