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We Are Over Our Head in Payday Loans. Can a Debt Consolidation Company Help Me? – Laurie

“my husband and I are in over our head in unsecurred loans/pay day loans. We do not have good credit. This started when he was unemployed, and now is working but we can’t get ahead with THROWING away all this money to payday loans. Do you have any advise? I have talked with a debt consolodation company, and they can’t help with these debts. Debt settlement is what they suggested..but I don’t want to default in all this stuff. Any suggestions of where to turn now. All of this should be paid by August if we can make it till then!!!!!!

In over our head in unsecurred loans/payday loans???? Is there another option to pursue to decrease monthly money wasted??????

Thank you!


Hi Laurie,

Defaulting on loan payments will have a detrimental effect, no doubt. If you are out of options, it may be necessary.

Before I can would suggest a next best step, could you please reply in the comment section below with who these payday loans are with? Are the store front or internet based payday lenders? What state do you live in? what are the amounts of each?

I will be better prepared to comment once I know the answers to these.


Michael Bovee is an experienced debt expert who helps answer questions on the site. He specializes in helping people with debt settlement through education and assistance. He can be reached at the Consumer Recovery Network.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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