Personal Bankruptcy Forum

Author:   Gail
Date:   September 18, 2002
Question:  

I have received several pay day loans (6 now, I believe) which add up to over 400 a month in interest charges alone.

I simply can't live with this kind of payment - I know I have done something terribly wrong by doing this, but I felt desperate.

Do you think I could talk to these people and see if they would settle for regular payments with no more interest charges? At least this way I could pay them off.

 


From:
 

Ann Clarke, Collins Barrow Limited
Date:   September 19, 2002
Answer:   A settlement with the creditors is certainly worth trying. You may also want to try Credit Counselling Services of Alberta at 1-888-294-0076. They have a program called Orderly Payment of Debt that might work for you.

Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca




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