Can I stop interest payment on a legal payday loan for 2 months in this situation?
Date: Thu, 07/02/2020 - 17:32
Can I stop interest payment on a legal payday loan for 2 months in this situation?
Yes. You can request them to
Yes. You can request them to stop the interest payments. In most states, governments have requested lenders and creditors to provide relief programs to borrowers. Some of them are allowing borrowers to stop making payments for 2 months or so. In that respect, you can also request them. But I have a strong doubt if they will forgive your interests for 2 months.
Hello Harrish!
Hello Harrish!
As you have taken a legal payday loan, you may ask for halting your interest payments to the payday lender.
I hope, it will work.
From next time, think twice
From next time, think twice before taking out a high-interest payday loan. Why don't you opt for other options instead.
The CARES Act has not
The CARES Act has not provided any relief for unsecured loans during this pandemic. So, talk to your lender about your financial hardship and request to stop the interest payments for about 2 months without paying extra.
If your lender doesn't accept, you can consolidate your payday loans and get rid of them with ease. Read https://www.debtconsolidationcare.com/merge-payday.html to know more!
I was in payday loan debt and
I was in payday loan debt and got help from a great company. They were very knowledgeable and did a great job saving me money and helping me pay all my payday loans off. HarrisGoldbergFinancial.com was the company. Hope this helps.
I think you can request for
I think you can request for it. You can also ask for the extended payment plan.