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How fast do payday loans need to be paid off?

Discussion in 'Payday loans' started by J. Doe, Nov 12, 2015.

  1. Nov 12, 2015 #1
    J. Doe

    J. Doe New Member

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    Hey everyone :)
    I'm looking for some sort of advice. So, I just got a payday loan, a little over $800, to help out my daughter pay her rent. Problem is, as much as the money helped (and they did!), I can't afford to pay off the debt in whole, and was wondering if there is any way I could maybe pay back half of it now, and the rest of it later on, without having to sell a kidney to pay the additional fees :D Or, would finding consolidation loan be a better idea?
    What should I do?
     
    J. Doe, Nov 12, 2015
    J. Doe, Nov 12, 2015
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  3. Dec 6, 2015 #2
    wise-gurl

    wise-gurl Member

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    Thing is, you have to take the time and carefully read your contract. Everything should be clearly explained on paper. Interest rates can be a deathtrap if you don't respect the contract's terms.. so the obvious answer here is payday loans should be paid off as soon as possible!
     
    wise-gurl, Dec 6, 2015
    wise-gurl, Dec 6, 2015
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