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Is there a way to consolidate payday loans?

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Is there any way to consolidate payday loans? I have several and they are going to court and I have to do something soon.

Unless you can get a consolidation loan from a bank or credit union, there aren't a whole lot of settlement or counseling companies out there. Langhorne and Town & Country are the only ones I know definitely work with payday loans. Whatever you do, don't go to CashCall or you'll end up in worse shape than you are now.

If these are storefronts, a lot of states require them to accept payment plans. If that's the case where you live you may not need to go to a 3rd party. And if they are internet, forget about going to court. Most of them are either completely illegal or operating in very gray areas. And the few that are always licensed where the loan - like CashNetUSA - usually choose not to sue because the expense outweighs the benefit to them.

Sub: #1 posted on Fri, 11/30/2007 - 05:10

FreakyFriday FreakyFriday

(Posts: 490 | Credits: 0.82)

Lori, we may be able to help you here. Please List for us Who you have loans with. How much you have borrowed from each? How much you have paid back in total to each? Are they internet or store front, and what state you live in. as soon as we get thuis info , we can begin to help you.

Sub: #2 posted on Fri, 11/30/2007 - 19:24

kashzan kashzan

(Posts: 5401 | Credits: 408.31)

Welcome to the Community lori :D You said they were going to court- have you received a summons or court date? If you have, be sure and respond. If these are store fronts, sometimes they will settle or make payment arrangements before you go to court. If you can give us the info stated above- we can point you in the right direction..Good Luck- hang in there..KAren

Sub: #3 posted on Sat, 12/01/2007 - 22:21

Bossy4455 Bossy4455
(Posts: 5854 | Credits: 743.03)

I, too, have too many payday loans and need some help and/or advice.
They are:
Check and Go for $1000.
First Cash for $300
Speedy Cash for $500
PayDay1 for $500
Solomon Financial for $250
I have made only 1 (interest only) payment on each of these. All were done through the internet, but I think Check and Go also may have a store front.

I would like to consolidate or set up payment plans if possible.

Thanks for any suggestions.

Sub: #4 posted on Thu, 11/20/2008 - 00:00


What state are you in, Shari. Check and Go has storefronts but most of their online loans are actually First Bank of Delaware loans and banks are exempt from most state laws. The others may or may not be licensed in your state. Let me explain.

1) First Cash Financial Services is a publicly traded company that has payday loan and pawnshops in many states. Not sure if they do online loans. But there is also a "Cash First" that is only licensed in Nevada.

2) There are two Speedy Cash's out there. One is a Kansas company that seems to be the only licensed internet lender in Kansas (out of the hundred or so that operate from there!) They only loan in a few states and have licenses there. The other is a Utah-licensed lender that doesn't have licenses elsewhere.

Payday One gets licensed in every state where it lends, except in a few states where the state accepts an out-of-state license (like PA until February 09) or in Texas where they do the CSO model.

Never heard of Solomon Financial, so they may or may not be licensed. You'll have to check with the local banking authorities.

Sub: #5 posted on Thu, 11/20/2008 - 03:42

FreakyFriday FreakyFriday

(Posts: 490 | Credits: 0.82)

Lori - what state are you in? Are these loans legal (where are they from, how much was borrowed??) did you get a summons to go to court or was it just a threat? please let us know, we can help.

Sub: #6 posted on Thu, 11/20/2008 - 19:07

bea2ls bea2ls
(Posts: 3840 | Credits: 370.56)

I live in Texas. - What do you suggest?

Sub: #7 posted on Fri, 11/21/2008 - 00:06


Texas as a few "whammies" to be concerned with. First, the CSO model is recognized as being perfectly legal so as long as they operate within the model they can take you to court. (Whether they will or not is a business decision.) Second, the Texas Consumer Credit Commission's attitude toward internet loans is that (a) they don't consider them legal (but they aren't a judge and can't declare a contract invalid); (b) they'll accept complaints about them and (c) they won't do anything about the complaints because they're outside the scope of their enforcement authority.

Sub: #8 posted on Fri, 11/21/2008 - 03:18

FreakyFriday FreakyFriday

(Posts: 490 | Credits: 0.82)

I am in the same situation, but after reading this thread i realize i am not alone in this. I live in Arkansas and have Check into Cash, Advance America, Payday Max and Magnum Z. I will be paying Check into cash off in full on 12/5/2008. :?

Sub: #9 posted on Fri, 11/21/2008 - 14:21


can you tell me how i can get loans with out faxing in a bank statements. let me know thank you

Sub: #10 posted on Fri, 11/21/2008 - 14:27

richie1044 richie1044

(Posts: 44 | Credits: 10.46)

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