I owe 5000.00 for pay day loans on friday.

Welcome to the Community tawna :D Can you tell us the following:

What state you are in
If these are internet or store front loans
How much you have borrowed, and paid back

This info will help us give you more info, and direct you where to turn next!! Thanks..KAren

Since you are already facing problems in paying the previous pdls, you should not look for a new pdl at this stage. You will be more in troubles in paying back the loans. There are few dmp companies who will help with your pdls. What state are you in and which companies have you borrowed from?

What are dmp companies, Steg? I would certainly like to look into that as well for my 3000+ in loans that are being deducted from my account.

debt management Plan is what dmp stand for. There are few companies that will work with payday loans. One that many members here have had good experiences with is T&C. They will consolidate your debt into a monthly payment. If you do a search on this site for them you will find a bunch of info about them. There is also Langhorn Law. They are a pdl settlement company. You set up an account and save X amount of money. Once you reach that amount Langhorn starts negotiating with your pdl's to settle the accounts. You can also do the same things on your own. Many here have done it themselves and saved the money. But it's a personal choice you have to make for yourself.

Hi Tawna. Welcome to the forum. I agree with Steq. Taking out pdls is what started this whole thing (and trust me, I've been exactly where you are), so they certainly aren't the answer. But, to go any further, we need to know what state you are in, are your pdls internet or storefront, and how much you owe and have paid to the comanies.

well im with
- allied advance
- money tree
- check into cash
- check n go
- advance til payday
- advance america
and another one i cant remember. i tried looking up the laws for WA and i cant find them (yes im computer retarded). I heard i can go to jail since it is considered "stealing". i pay 97.00 on each loan everyother week. so total ive paid 1,164.00 in fees.

i live in Washington State and these are in store advances. Thanks for all of your advice.

You will find the Payday loan laws for Washington here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

You cannot be criminally prosecuted. Period. It is against the law in WA for that to happen.

Since these are storefronts that means they have to allow you to go into a payment plan after your 4th loan.

Check to make sure each store is charging you interest within the laws. If they aren't, file complaints against them.

ok. thank you. is it better to do the payment plans through them or try to take out a loan to pay them off? i also heard that you can put a stop payment on the checks but wil they take me to court? i can careless about my credit now since ie been dealing with identy theft which was stolen 2 years ago after i changed my name.

Twana, Please what ever you do do not take out any other loans. In my opinion it is 100% better to make arangements that you can live with. Remember loans got you into this mess. Pleasse try not to incur any more debt

It would be MUCH better to work out payment plans then take out another loan. Please don't do that, you will be in much worse shape.

These companies by law must let you set up payments. Hold them to it.

You cannot be criminally prosecuted in your state, so don't worry about that.

so can i just let the checks bounce? yeah it will go on my credit but thats another thing ill have to take care of

I would call up each place and try to set up a payment plan first. You will owe more if you let the checks bounce.

ok. so. i just got off the phone with everyone in my area. ive come to a conclusion. next tuesday i will be filing bankruptcy. it will pay off my loans and my ther debt.

Make sure that is really your best option - A BK stays on your credit reports for 10 years.

Have you contacted T&C? They are the one debt consolidation company I know of that will work with payday loans too. If you do a search on this site you will find their contact information.

yes i did. i have to much bad credit. so they said no

Okay, then maybe BK is a good option for you. Are you going to hire a lawyer? Most BK lawyers can run about $1500. You really don't need a lawyer. You can have a paralegal do your bk papers for less then $500 and just represent yourself. There is really nothing to it.

what is bk?

bankruptcy