How do you payback payday loans?

[hostsamurai]

the better your credit score the better or easier life could be

you need good or decent credit to get better credit card offers, better car deals
Credit scores are used by most lenders. They're important to have if you ever decide to purchase a home, a car, or even open your own business. Potential employers or landlords, as well as phone and utility companies, may look at your score to determine whether to do business with you.

Really only applies to people in the finance industry, bank tellers, and jobs with rigorous background checks. But yeah, the average person shouldn't tank their credit foe the next 5-6 years.

 

[jackson35]

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.

see if you can get an advance from your boss

 

[hostsamurai]

Default on that shyt and wait till a debt collector writes you a letter. Then explain you are moving to morroco and would like to settle the debt. Offer them 30-40% and get it in writing.

Then hit up Experian and that other credit agency in the UK and contest every mark on your credit report. Hound them everyday and email them everyday until they cave

Stop renting money at outrageous rates Arabreh

Most decently developed countries have an agreement in place for cases like these. Although, with a decent bankruptcy attorney getting a 40-50% settlement is easy as long as you don't have a wife or kid that ties you to the country.

 

[MoroccanBoy]

see if you can get an advance from your boss

I actually work on a small famile farm and we get paid cash and it's the most casual shyt ever. my boss does give advances I've been told. I'm new here so I didn't want to ask for one straight away lol.

 

[hostsamurai]

Payday loans are a death trap. I borrowed $240 from an online company many years ago. When it was all said and done I had paid them over $500 in interest fees and I still owed the original $240. Eventually I said fukk it and I closed my bank account.

Come to find out the company was operating illegally in Georgia. When they realized my bank account was closed and they couldn't debit the weekly interest fee, they started leaving me harassing voicemails and threatened to sue me but eventually they went away.

Yeah, you might want to sign up to experian and check your credit breh.

 

[Cynic]

Most decently developed countries have an agreement in place for cases like these. Although, with a decent bankruptcy attorney getting a 40-50% settlement is easy as long as you don't have a wife or kid that ties you to the country.

I'm talking specifically about the UK here ...

 

[Dominic Decoco]

@Trent can you loan me some money?

How much you need

 

[Behind-the-wheel]

I once had an experience with one of those "Payday Loan" places.
Borrowed $130 dollars to get my car repaired back when I was down south. They told me the interest rate was 80% on top of the amount due in a week or interest would start to accrue and if I didn't or couldn't pay, my car would be forfeit.
That shyt IMMEDIATELY reminded me of the loan sharks back in NY...so I knew what fukkery I was dealing with.

I got the $130 and agreement papers, they got my car title.
A week later, I came back on the agreed upon date and time with the full cash payment in hand.
They looked at me like they couldn't believe it...like they halfway didn't want to accept the payment.
I coughed loudly at the dude and said "I'm here to settle my account" to get his attention.
He must have asked me 8 times if I wanted to take out another loan or extend this one before he gave me my damn car title and paperwork back and closed out the fukkin loan.
Never went back to one of those.
Everything about them reminded me of the loan sharks back in NY.
The only thing they didn't do was raise the amount when you show up with what you owe, so you never get out from under their thumb.

 

[JordanwiththeWiz]

Payday loans are predatory loans targeted at low income people who live check to check they expect you not to pay it on time so they can jack on more fees


After watching the Dirty Money doc on Netflix I’m disgusted at predatory loans these rich people who give them know what they doing

 

[beenz]

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

But then you say goodbye to any mortgage approval in the future. Although with the way housing prices are it doesn't matter all that much.

OP could file for bankruptcy to get the debt discharged. but that will ruin his credit, and it will likely cost more money than he has to hire a lawyer to file for him.

I'd hustle my ass off and pay off that payday loan. NEVER take a payday loan. you're better off going to a real loan shark. they'd give you more favorable interest rates than a payday loan.

 

[MoroccanBoy]

How much you need

Just a quick 50 to pay a lil bit back

 

[beenz]

I once had an experience with one of those "Payday Loan" places.
Borrowed $130 dollars to get my car repaired back when I was down south. They told me the interest rate was 80% on top of the amount due in a week or interest would start to accrue and if I didn't or couldn't pay, my car would be forfeit.
That shyt IMMEDIATELY reminded me of the loan sharks back in NY...so I knew what fukkery I was dealing with.

I got the $130 and agreement papers, they got my car title.
A week later, I came back on the agreed upon date and time with the full cash payment in hand.
They looked at me like they couldn't believe it...like they halfway didn't want to accept the payment.
I coughed loudly at the dude and said "I'm here to settle my account" to get his attention.
He must have asked me 8 times if I wanted to take out another loan or extend this one before he gave me my damn car title and paperwork back and closed out the fukkin loan.
Never went back to one of those.
Everything about them reminded me of the loan sharks back in NY.
The only thing they didn't do was raise the amount when you show up with what you owe, so you never get out from under their thumb.

these cats are BANKING on you making the installments or defaulting altogether. in your case, they would have gotten your car for $130

glad it worked out for you in the end though.

 

[Dominic Decoco]

Just a quick 50 to pay a lil bit back

Ima drop off a package. Don't look in it. Just deliver it to shytfukk Virginia. Get back safely and you'll have $200 on your bed. Thank me later

 

[Behind-the-wheel]

these cats are BANKING on you making the installments or defaulting altogether. in your case, they would have gotten your car for $130

glad it worked out for you in the end though.

Yuuuuuuup!!
They are in it STRICTLY to steal and scam people that need help.
Friggin EVIL b*stards!
That loan came out to like $260 when all was said and done. Considering my car was practically new and I had the money, I was glad to get outta that devils deal. If I could have walked to work for a few days I never would have messed with them in the first place, but I had to get my tires replaced.

 

[MoroccanBoy]

Ima drop off a package. Don't look in it. Just deliver it to shytfukk Virginia. Get back safely and you'll have $200 on your bed. Thank me later

Do you have PayPal instead?