I have so much debt and delinquent accounts with p

I have so much debt and delinquent accounts with payday loan companies and credit card companies as well as a negative checking account with Chase. Which should I pay first? I don't have the money to pay all of these or to even get on payment plans. Chase will report me to Chexsystems and maybe sue me and my credit is deteriorating quickly. I also have 7 delinquent/default payday loans. Any suggestions on what to pay first?

6 Answers

I agree with Nandy. You should payoff your pdls first. This is because the interest rate of this loan is so high. If you are in a financial crisis to payoff your multiple debts in full, then you may enroll in a debt consolidation program. This program will help you to replace your multiple bills into a single monthly payment.

Yes, see if you can consolidate your debts, that will certainly make things a lot easier for you to handle. You may seek the advise of your local Consumer Credit Counseling Service. In case you choose to go with a professional debt relief company, make sure you share your current financial obligations with the counselor. Let him analyze your current financial strength, as agreeing to repay your debt is another commitment. That way he'll be able to offer some feasible repayment terms to you.

You should pay off the pdls first. They are high interest debts. Go to a credit counselor and explain your financial situation to him. The credit counselor can suggest you the ways to tackle your debt problems. He may also suggest you the debt relief option which will suit your financial condition mate.

Honestly, you need to have some money to repay your debts. Otherwise, no debt relief program can help you out.

Your last option will be to file bankruptcy mate.


Hey this is me Amy! Forgot to Log in :P

Yes, I agree with Anna Sweeting! You must immediately get your debts consolidated so that you can repay your debts in a single monthly payment. If you don't want to go for professional debt consolidation, you can easily go for consolidation on your own. Contact your creditors and ask them for an alternative repayment plan.

Why don't you consolidate all your debts and pay them off. I will suggest you to check out whether or not your payday lenders are legal and licensed to operate in your state. If they are licensed to operate in your state, then you should contact the local debt relief companies and take their help in consolidating or settling your debts.

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