I\'m drowning in payday loans and can\'t get out

I live in Las Vegas, NV and I currently have 4 PDLs.
I have one at Dollar Loan Center for $150.
I have one at Rapid Cash for $390.
I have one at Koster\'s Cash Loans for $250.
I have one at Money Tree that is about to go into collections for $250.

I am a student that only makes $400 a paycheck that also has to pay for my cell phone, credit card (which is over it\'s limit of $800), and my rent. Right now I only have $100 in my wallet, and I don\'t get paid again until next Friday. My payments are more than I make per paycheck, and I\'m getting calls threatening me that I will be sent to a creditor. I don\'t know what to do to get out of my debt. I tried applying for a personal loan at a bank, but I was denied. What can I do?

3 Answers

To repay your legal lenders in full, you may enroll in a payday loan debt settlement program which will help you to reduce your debts by certain amounts.


I agree with my previous posters. The contact detail of the Nevada Financial Institutions Division is as follows:
# Address - 2785 E. Desert Inn Rd., Suite 180 Las Vegas NV 89121
# Phone - (702) 486-4120
# Fax - (702) 486-4563

If you find that the lenders are licensed in your state, then you will be accountable for both the principal and interest. If you are in a financial hardship and can’t payback your debts in full, then you may enroll in a payday loan debt consolidation program. This program will help you to replace your multiple bills into a single monthly payment.
 


You should always avoid payday loans as they are curse and may further affect your financial situation in a negative way. I will suggest you to immediately contact the Nevada Financial Institutions Division and find out whether or not your payday lenders are licensed to operate in your state. If not, then remember that you're liable for paying only the principal balance. If you have already paid off the principal balance to them, then you won't be liable for paying them anything else. Also, they won't be able to take any legal actions against you.

If they are licensed to operate in your state, then you will be liable for paying them the debt in full. In such a situation consolidating or settling the debts will be a good option.


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