Payday loans eating my paycheck

Date: Wed, 08/15/2007 - 06:14

Submitted by anonymous
on Wed, 08/15/2007 - 06:14

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Total Replies: 1

Payday loans eating my paycheck

I have around seven payday loans out and it's eating my check up. I can't pay my rent at this point. Do I close my checking account or do I file bankruptcy? If I close my account will it be in enough time before the bank charges me overdrawn fees? I live in the state of Kentucky

Hi Bridget - DO NOT file bankruptcy unless you have no other cho

Hi Bridget - DO NOT file bankruptcy unless you have no other choice. Definitely don't file it just because you have payday loans - the situation may seem hopeless, but it's not! :-)

Post the following info for us, and we'll help you out with some advice on how to get out of this cycle:

-State you live in
-Names of all payday lenders you are dealing with
-Whether they are storefront or internet based lenders
-How much you borrowed from each one (principal only, no fees)
-How much you have repaid on each one so far

You will most likely end up having to close your bank account to regain control of your money, but first and foremost, give us the information listed above, and we'll work from there.

lrhall41

Submitted by SUEBEEHONEY70 on Wed, 08/15/2007 - 07:38

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