My Husband is a Deputy Sheriff and We Are Trying to Get Out From Under These Payday Loans. – Dawn

“Dear Steve,

I have 3 payday loans, 5 installment loans and I am trying to get those paid off.
The problem, of course, is the pay day loans. I live in Texas and want to know if we can use the EPP for the payday loans and if we should close down our current bank account and start a new one, since the payday loan companies have our checks.

I have contacted debt consolidation companies, debt management companies and so far they suggested I close my bank account and contact the payday loan companies, but no one suggested the EPP. I found that on my own research last night.


I live in Texas and currently have 3 payday loans. One with Check and Go and the other two with another company. The One with Check and Go is $835 and the other two are @ $200 each. We have 5 installment loans and were advised by consolidation companies to close out our bank account. Contact the payday loan folks and work out something with them to get them paid off.

They also suggested we do not pay the installment loans for a few months or until we get the pay day loans paid off. No one ever mentioned EPP, extended payment plan to me. I found that last night during my research. My husband works for the sheriff’s office and I do not want anything to come back in the form of any kind of legal action on the pay day loans. ALL these companies are local and have our family and friends as contacts.

Can we write letters to the loans companies as well as go in person or call them to explain our financial situation (that we are working on consolidating our loans) and want to work out a payment plan with them?

We are NOT running from anyone, but we need to get this cleared up.

See also  I'm Way Over My Head in Payday Loans. - Alan

Thank you~

Do You Have a Question You'd Like Help With? Contact Debt Coach Damon Day. Click here to reach Damon.


Dear Dawn,

The payday loan companies might participate with the EPP but you won’t know until you ask both the local office and corporate headquarters if the local office does not know.

The first effort should be to communicate with each of those entities, explain your situation, and see what you can negotiate with them all to deal with your debt. The approach of avoiding them and hoping they will work with you might work for major creditors but local lenders or small finance companies have a different process.

Do you have any idea what your credit score is? If it is above 700 then maybe what we need to consider is a small unsecured debt consolidation loan from Lending Club to payoff those high interest debts with a much lower interest rate loan.

Please post your responses and follow-up messages to me on this in the comments section below.

Damon Day - Pro Debt Coach

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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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