Should i get a big payday loan to pay off smaller ones? and then leave alone forever....?

i need to get away from those pain in the butt loans but how? should i consider a big loan to get rid of small ones.

Should i get a big payday loan to pay off smaller ones? and then leave alone forever....?

Getting a big loan to pay off the smaller ones is not going to help your situation. You have discovered the dangers of these places and are smart to try to get away from them. If you can get a loan from a bank or credit union to pay off the payday place that would be the best bet. Even if they charge you credit card interest rates you would still be better off than you're now.

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Take care.

Should i get a big payday loan to pay off smaller ones? and then leave alone forever....?

Work out payment arrangement with your creditors and forget payday loans.

Should i get a big payday loan to pay off smaller ones? and then leave alone forever....?

Here is the answer that has been the pinnacle of curiosity of most. The answer is no. FICO (Fair Isaac Corporation) likes to see you have credit accounts open and revolving, at a minimum of 3. Revolving simply means you're making transactions but you can pay them down to 0 every month and avoid any interest. Any major fluctuations such as opening a larger line of credit then consolidating will be reported to your credit as a balance shock t and destroy your credit temporarily. As a loan officer, my advice is if you choose to consolidate keep 3 credit cards open but don't pay them to $0, just keep them %26lt;25% but no less than 5-10%. It might cost a little more in interest but it's worth it down the road for your credit score. If you're just interested in getting rid of the stress then go for it otherwise stick to this strategic move. In short, it's fine to consolidate gradually but don't close your lines of credit already existing.

Should i get a big payday loan to pay off smaller ones? and then leave alone forever....?

When you find yourself it a hole, Rule #1 is to stop digging.