marketta asked:
I am in a cycle of payday loans which leaves me with almost nothing to live on. Am considering defalt next month and will try to work out a repayment schedule. What kind of response can I expect from those companies? Has anyone had experience in this area?
I am in a cycle of payday loans which leaves me with almost nothing to live on. Am considering defalt next month and will try to work out a repayment schedule. What kind of response can I expect from those companies? Has anyone had experience in this area?
Usually payday loan places will work with your situation. You need to go in and speak to a manager. The last time I took one out I wasn’t able to pay it back for several months. They let me pay off the original loan amount minus the interest. Then over the next few months I was able to easily pay off the interest because it quit accruing.
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If you feel you can not make a payment of your loan, you can discuss your options with the lender, or maybe find someone else to loan you enough to pay off the first payday loan.