World Franchise Solutions » consumer credit counseling http://www.worldfranchisesolutions.com Know more about franchising Fri, 04 Jun 2010 20:18:50 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 In over-your-head in payday debt??? http://www.worldfranchisesolutions.com/in-over-your-head-in-payday-debt http://www.worldfranchisesolutions.com/in-over-your-head-in-payday-debt#comments Tue, 11 May 2010 21:00:55 +0000 admin http://www.worldfranchisesolutions.com/?p=17 If you have ever had a financial emergency and used a payday advance, you understand that these loans can be life-saving. However, if you were unable to pay the loan back on-time, you also know that the interest on these loans can add up quickly. If you ever find yourself over-your-head in payday loan debt there are some things you can do to help survive.

1) Close your bank account or payday lenders will continue to try and deduct the funds owed by you

2) Call the collections department or help line. See if they would be willing to set-up a pay back plan you can afford.

3) If you can’t set-up a pay back plan and need a more comprehensive debt eliminating solution, and have other outstanding unsecured debt (ie credit cards) you may consider consumer credit counseling or debt consolidation These two options are a lot less detrimental on your credit score as opposed to bankruptcy, and bankruptcy can only be claimed once every seven years.

4) If you wish to get out of all debt, secured or unsecured your best bet may be bankruptcy.

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