I Have Several Payday Loans I Can’t Afford to Pay. What Company Should I Use? – Myma

“Dear Steve,

several payday loans, cannot make house payments at this point. I know I have not been very respoisble but need help what company is legit to use to help do settlements with these companies? I want to pay them just need to reduce the payments so I can pay my other bills. Please help I dont want to use a company that will only make things worse.

Do you recommend a company?

Myma”

Dear Myma,

I don’t think the issue is as easy as that. The payday loans tell me you’ve been struggling for a while. You most likely got one and then things got tight again and then got another.

Have you already defaulted with the payments on the payday loans? A payday loan settlement company is going to tell you or suggest to you that’s what you need to do. Once you default the payday lender can exercise all their legal rights to collect.

I think we need to look at the bigger situation here. How much debt do you have? Please tell me more about what is going on.

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

Steve Rhode Debt Coach and Author

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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