Tag Archives: Payday

Q&A: I want to see if I can get a loan from Prosper to pay off my Payday loans. Is Prosper OK?

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Question by Sunfire03: I want to see if I can get a loan from Prosper to pay off my Payday loans. Is Prosper OK?
I am caught in a Payday loan nightmare. My credit will not allow me to get a personal loan. I was reading about Prosper, person-to-person loan, hoping and praying that someone would help me get out of this pit called Payday loans.

Best answer:

Answer by bdancer222
Well the interest rate at Prosper will be a whole lot less than that payday loan. But you may not get a loan at Prosper either. If your credit is too bad to get a personal loan, people at Prosper may not be willing to take the risk with you.

Instead of looking for another loan, consider other ways to come up with cash. Have a garage sale, sell blood/plasma, collect alum cans, get a second job …

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What happens if you don’t pay on one of those payday loans?

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Question by Jeremy b: What happens if you don’t pay on one of those payday loans?
My mom got 3 payday loans to pay for car repairs now she pays 1000 a month just to those 3 and cannot afford any of her other bills. She is on somewhat of a fixed income and I need to help her to stop her from working to death. I have told her just to stop paying them and let them take you to court? Is this good advice?

Best answer:

Answer by PartyAnimal21
Maybe call the cops and hunt you down or sumething. But explain to them why.

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I need help getting out of payday loans?

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Question by Mary S: I need help getting out of payday loans?
I got myself into a big mess with payday loans. I am falling behind on my other bills due to this. Anybody no of anyway to get help out of this type of situation?

Best answer:

Answer by Doug Kaplan
Well your other bills and food bills are more urgent. Close your bank account and when they call you work out arraignments with them. I believe it’s a civil not a criminal matter.

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Is there a type of debt consolidation for payday loans?

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Question by zozosammy: Is there a type of debt consolidation for payday loans?
I’ve met with a lawyer to start to file for bankruptcy. The two main components of my debt are a car repo, which for some reason I still owe around $ 6000, and some payday loans, which I owe around $ 3000. I’m trying to find a way around bankruptcy, if any, does anyone have any ideas?

Best answer:

Answer by oilman11977
Bankruptcy should always be a last resort. Have you tried to make payment arrangements with the creditors. (payments you intend to keep) They will usually be anxious to receive monthly payments, because if you go bankrupt they may get nothing.

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Is there a consolidation loan to pay off payday loans?

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Question by ctbizness: Is there a consolidation loan to pay off payday loans?
I made a huge mistake in using payday loans to help pay bills during a rough time. Now I can’t get from under them and it’s hard to pay on my regular bills. My credit is 495 therefore it has been hard to get a loan.
Is there help for me? Once i can get these loans paid I can make the monthly pay’ts.

Best answer:

Answer by raringvt
Yuck…payday loans stink. There’s a reason they’re popping up all over in lower income areas—they’re very profitable.

I’m sure there are loans that you could use to consolidate. I would try to get a 0% APR credit card, but you’ll have trouble with your marginal credit score–just like with any other loan.

You should consider selling assets–car, junk on ebay, etc to pay this thing off ASAP.

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Payday loans buy borrower further money troubles

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Payday loans buy borrower further money troubles
Q. I have gotten myself into a bad debt situation. To relieve some of my debt stress, I have become wrapped up in several payday loans. These loans have just made things way worse. I am overdrawn at my bank and I don’t know what to do. I have not been able to get a debt consolidation loan because my credit is so bad.
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Greatbatch, Inc. Reports 2010 Fourth Quarter and Full Year Results
CLARENCE, N.Y.–(BUSINESS WIRE)–Greatbatch, Inc. (NYSE: GB), today announced results for its fourth quarter and full year ended December 31, 2010: Sales of $ 133.1 million for the quarter increased 6% over the prior year period including 29% Vascular Access and 22% Orthopaedic revenue growth. Full year sales of $ 533.4 million increased 2% as diversified revenue growth offset a slow-down in the …
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Ukraine – Macroeconomic situation – January 2011
USUBC NOTE : The “Ukraine – Macroeconomic Situation – January 2011″ analytical report prepared by the SigmaBleyzer Emerging Markets Private Equity Investment Management Group and The Bleyzer Foundation (TBF), Kyiv, Ukraine, members of the U.S.-Ukraine Business Council (USUBC), http://www.USUBC.org , is found below.
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Q&A: How can a find a loan, not payday loans with umm fair credit with a co-signer?

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Question by emile4802: How can a find a loan, not payday loans with umm fair credit with a co-signer?
I have been searching for a loan. Either they want you to pay a fee to find a loan which I think is a scam. Then there are payday loans which I an up to my chitty chin chin in. I just want a smal loan to consolidate my bills right now. I have a co-signer. my credit is ok, not great but ok

Best answer:

Answer by neodracolith
Sometimes you can get a personal loan from your bank.

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Is it possible to do Debt Consolidation on payday loans while in a consumer proposal?

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Question by Tom: Is it possible to do Debt Consolidation on payday loans while in a consumer proposal?
I’m currently in a consumer proposal with a remaining balance of $ 7000, I recently got my self cought up in 4 payday loans worth $ 2000 and i’m stuck in the payday cycle. My question is, is it possible to get a debt consolidation done on these payday loans while in my proposal. I can not get a loan anywhere because of the consumer proposal. Thanks

Best answer:

Answer by BigMissle
I have honestly never heard of a consumer proposal, but if I can think my way through the definition, I know it will entail you negotiating your loan balance and payoff type and time. So I wouldn’t attempt to consolidate a loan you are proposing to payoff in the near future..seems like a catch 22 to me.

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Is it against the law to have more than two payday loans?

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Question by raymond m: Is it against the law to have more than two payday loans?
I have two payday loans with two different loan offices. Is this against the law? And can I place a payday loan on my bill consolidation plan?

Best answer:

Answer by Diane M
You can have as many payday loans as you want as long as you can pay them back. I would try to get them paid off and stay away from this type of loan because the interest is very high. They dont work like conventional loans so you probably cant consolidate them.

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