Help 911! How can I negotiate a payment plan with payday lenders?

Mar 21st, 2010
by admin.

I am struggling with payday loans and have come to my wits end. I am tired of renewing and paying interest. By the time I am done, I don’t see any of my paycheck. I would like to try to “pay down” the loan bit by bit instead of renewing all the time. Will they refuse to work with me.

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3 Comments

  1. crywater2000 says:
    March 21, 2010 at 7:27 pm

    It depends on the amount you owe. Most will work with you if you tell them. For instance if you owe 230. and u wrote 2 checks 4 115 each. Work on paying 115. they will accept this. Or close your acct.And pay when you get the extra $$$/ gOOD lUCK

  2. kkelly58 says:
    March 21, 2010 at 8:08 pm

    I would say yes, most companies do not want to see a loan default. It’s best to go in and talk to them, figure out the terms you want and negotiate. The other option is alternate financing to pay that loan.

  3. Ed P says:
    March 21, 2010 at 8:14 pm

    you need credit counselling . from now on Do i need it? or want it good luck

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