Being stuck in Payday Loan debt is no fun, I can attest to that from my own experience.
It typically goes like this, you have several payday loans outstanding and you can’t carry on paying them all, something has to give. You have two choices, find the money to pay them back or you find a way of paying them off at a sensible amount per month.
The problem is the fact that these types of loan are so expensive because of the interest charged. Paying them back therefore can be quite a challenge. In this post I will direct you to posts elsewhere on this blog so you can start sorting out your payday loan debts once and for all.
A bit about my Payday Loans
I too have been in the situation whereby I owed money to a number of different payday loan lenders and could not carry on with things the way they were. I was robbing Peter to pay Paul for a while, but this only made things worse. It got to the point where I had two choices. Carry on living with the mess I was in or default on my payday loans and set up a repayment plan.
I choose to default and set up repayment plans with all of my lenders. To be honest this was not easy in part because I could only offer a small payment each month. Most of my lenders were willing to agree an arrangement over three months but at that time, it was not possible for me to repay in that time frame.
If you would like to find out more about some of my payday loan debts, below I provide links to some of the posts I have written about them.
- My Wonga Debt
- My Uncle Buck Debt
- My Payday Express Debt
- My TXT Loan Debt
- My Payday UK Debt
- My QuickQuid Debt
Of course by defaulting on my payday loans I did damage my credit rating quite considerably. However as I was also struggling with other debts, this didn’t matter so much but if your credit rating is important to you, you should find a way of paying them back.
Sorting out your Payday Loans
I have a number of guides on this blog so will share the main one with you now. First off, you should take a look at my post which explains how to set up a payday loan repayment plan. This will explain what’s required and what you should do to get up and running. It also links to other posts containing the information you need to start sorting things out.
Settling Payday Loan Debt
There is also a post about settling payday loan debt and this could also be worth a look should you be coming into some money. My advice with payday loans is this – if you can pay them then do so. Getting rid of these types of debt will make your life easier. If you are able to settle them for a percentage of what you owe, that’s even better.
If you are just looking to get help then please visit the debt help page on this blog. From there you will information about a number of organisations who can help you with your debt problems. Good Luck!