How do you payback payday loans?

[MoroccanBoy]

The interest rate is like 130 percent because I missed loads of payments. Now Im in a hole and can't get out as the interest keeps building and the original loan was only 100. Now I owe about 550 and it goes up every day I dont pay.

I even took out a second payday loan to pay the first one back but now the interest is building on that. It's going up 20 a day and I only borrowed 100 on that one.

Will they stop my interest and put me on a cheap monthly plan? Because I've been ducking their phone calls for weeks.

I have a full time job but all my money goes to my car and rent and I have zero left over to pay these debts.

 

[Amestafuu (Emeritus)]

 

[AquaCityBoy]

You don't take them out in the first place.

 

[frush11]

You don't

 

[Heafcliffe]

Easy....let them stay with the loan shark.

Edit: 130%? Breh, you getting off easy. I've seen predatory rates of 300 to 400%+.

2nd Edit: They ain't gonna help you pay them back, breh.

 

[Atlrocafella]

You’re pretty much screwed. Your only hope is to go to a court and hope they can help discharge these loans for you.

 

[Mega]

Dumbass

 

[Hijo de luna]

My cousin put his paid off car up and got it took I got in deep when I was 19. They started calling my job and my employer at the time paid it off for me. Never stepped foot into one of those places again. I dont know what to tell you op

 

[Spiritual Stratocaster]

God was looking out for me because I missed payments and they didn't charge me interest at all

Missed payments for like 3 months and still only had to pay $70

Paid it off and learnes my lesson because shyt could've been bad.

 

[King Poetic]

they makin a killing in the hoods on the poor

 

[StretfordRed]

You don't take them out in the first place.

Exactly. That’s the whole trick OP

They make it hard for you to pay it back. Best of loaning the money from friends or family

 

[Wildhundreds]

Bankruptcy

 

[Spiritual Stratocaster]

How far you live from work? Might want to sell that whip for a moped, and $ to pay that loan off

 

[Koba St]

There’s nothing they can do but your credit rating will go to shyt. Get yourself a job, give them a call and start paying it back in monthly installments and slowly build your credit rating back up.

 

[Art Norm]

They bout to be on yo ass