I have placed this in the source box. There is a wealth of information there and a great free debt management software program. I bookmarked the site as I return to it often for the advice it offers. I hope this helps you.

Your biggest issue is that you are not living within your means. You can slice it a million different ways, but until you either get more income or reduce expenses, you are going to be right back where you started.

Learn to budget!

A payday loan is for a very short term, until your next payday, they charge you $30.00 for $100.00 because they spend around 30 minutes analyzing your case and need to pay to someone to do it, if you go to the bank to ask for $100.00 of course you are not going to get anything because they are going to spend one hour with you and if they charge you a 5% = $5.00 it would be a very bad business for them, that is why payday loan can not be compared with a normal loan. A payday loan should be used for emergencies only and shall be paid as soon as you can.

Debt consolidation programs will not help with payday loans. They won’t budge on the payments or interest rates.

See if you can get a credit card with 0% interest on balance transfers and pay them off that way.

If that doesn’t work, doesn’t look at your credit and you pay them once a month, not every payday.

NO NO NO

Payday loans are loan sharking plain and simple. It is a trap. Avoid it if at all possible. Build up your credit and use that if you are short of cash (even at 18%, a credit card is much better than a payday loan).

Their are no PROs to a payday loan

they can’t work out a payment plan with you until your check bounces.. after that, you can make payment arrangements with them, but if you fail to show up and pay when you say you are going to, they can ACH your bank account at any time.. if you have a closed account, then they obviously cannot continue to try to take you funds out.. i wouldn’t recommend closing your bank account, just let the checks go through and bounce and then make arrangements, and stick to those arrangements!! and i agree with the guy that said these loans should be made illegal!! many people mean well when they take one out.. they don’t intend to not be responsible and just pay it off quickly, but the reality is that it gets too overwhelming for them to handle because the interest is so ridiculous and the payments always fall on bad pay days after a while!! another thing you can do is just knock each loan down a notch every time you take it out.. i know it sounds hard, but it will be worth it and they will be paid off in no time at all!! or maybe you can find a family member to front you the money to pay them all off?? whatever you do, i wish you good luck!! i know how bad those loans ****!!

First, you need to stop taking advances on your paycheck. The rates they charge are very high and end up costing you more than if you had a late fee on your bill in most cases.
It is not easy to “stop taking advances” when you are behind, but try calling your creditors and see if you can adjust your due date by 2 weeks without a penalty. This will get you through the short term situation.
Closing your checking account will only make matters worse as you will go into the system as a potential bad customer and probably won’t be able to get another account until your bills are paid off, both with the bank and the check places.
If you only get 3 of the 5 loans paid, it is better than defaulting on all 5.
I wish you luck, but it’s hard to get past the first few weeks without money. Once you have stopped using the check places, you will find those extra few dollars in your pocket beat paying it to someone else, and you actually have money for yourself.

No way. I haven’t gotten one myself but my roommate in college did. He went back and forth to several ones to pay off of the others. It sounded great in the beginning-having money for spring break but he didn’t realized how much $500 would end up costing him in the end. By the time he paid all of the places off at the end of college, his total at the last place was nearly $3200.

If you live on paycheck to paycheck. Yes, it is a bad idea because it will give you a hard time to repay to your payday loan. Their interest is so high. For example, if you borrow $300 and plus interest $90. You will be paying back for next paycheck total of $390. It is not worth.

If you have checking account at your bank. Some banks have direct deposit advance. It is very cheap to pay finance charge. If you borrow $300 and plus finance charge $30 so you can pay it back for next paycheck total of $330. Good luck!

Just tell each one of them your situation, and try to work something out. Then, never get a payday loan again.