I have outstanding unpaid payday loans. What can i do?
Written By: admin on August 25, 2009
One Comment
I have taken out a few payday loans and now i am unable to pay. They keep calling me and telling that i have to pay, I don’t have the money. They are saying they are going to garnish my wages, i live in Texas. I have talked to a PDL help to get help with paying the loans…..is this the way i should go??? I am confused and worried. My credit is already messed up as it is.
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Tags: money, Payday Loan, payday loans, wagesTags: money, payday loans, wages
You go get a second job.
Call payday or whoever is servicing the loan and question them if you can get some sort of writedown on your loan (reduce and consolidate) or maybe a lower interest rate because you are dangerously close to just not paying it because it is a low priority, but you do want to pay it. Get any new agreement in writing. Read the new agreement and know it.
You know you are responsible for your decisions right? Terrible and excellent. Try to negotiate in excellent faith. Get busy working and make those payments. Spend nothing except on minimal shelter (get room mates), electricity and bare amounts of food until you get your act together. That means getting rid of all the extras like cable, the internet, entertainment involving money.
After – vow no more payday loans. No living beyond your means, that you will keep a small savings for when terrible things happen so you do not get into that situation again.
You will fell a thousand times better with the weight of debt off your shoulders and with you acting like a really responsible adult.