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Can I stop interest payment on a legal payday loan for 2 months in this situation?

Date: Thu, 07/02/2020 - 17:32

Submitted by HarrishJo
on Thu, 07/02/2020 - 17:32

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Total Replies: 6

Can I stop interest payment on a legal payday loan for 2 months in this situation?


I had taken out a payday loan that is legal in my state. Can I request to stop the interest payments for about 2 months without paying extra?


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.


lrhall41

Submitted by Nick Jonas on Mon, 07/06/2020 - 04:28

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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.


lrhall41

Submitted by Ryan Miller on Mon, 07/06/2020 - 04:11

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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!


lrhall41

Submitted by Craigh.terry on Sun, 07/12/2020 - 21:56

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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.


lrhall41

Submitted by anonymous on Thu, 07/09/2020 - 18:30

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