Changed jobs and cannot pay payday loan for a week later...what happends?

I just got a new job and changed pay from semi monthly to bi weekly. they are going to take out the money on the 30th but I do not get paid till the 6th now. Do you think if i call them that they will hold it and just let me pay extra interest? I dont want it going to collections.

Changed jobs and cannot pay payday loan for a week later...what happends?

Definitely call them and let them know you won't be able to pay on time. The worst that will happen is they will charge you a fee or more interest. But if you don't inform them of your situation, you will be charged a late fee AND it will probably go on your credit report. It is always best to let creditors know ahead of time when you are in a situation like this. They are usually willing to work something out with you.

In the future, don't go to those payday loan places. The interest is a huge ripoff!

Changed jobs and cannot pay payday loan for a week later...what happends?

u get a late fee, call them and let them know when u can pay them..

Changed jobs and cannot pay payday loan for a week later...what happends?

u will charged fine

Changed jobs and cannot pay payday loan for a week later...what happends?

Call immediately and advise them of your new job status and pay schedule. This will enhance your reputation with them. If you don't they will perceive you as a risk and can deny you further use of their service.

Changed jobs and cannot pay payday loan for a week later...what happends?

Call them and they will give you a run around like most Slimy Scams you can rest assure they will call you day in and day out reminding you that you owe them money. The other thing you can do is going in and do a re-up you pay the interest only. HOWEVER SINCE MOST STATES DEEM THE ACTS OF MOST OF Payday advance places as a scam they can not report to the major Credit Systems. There is a system used only for the purpose of short term loans it is the same system used for Tax Refund loans much like a bank short credit report it gives very limited information about your credit and history its just basically about numbers. BUT BE WARNED YOU ARE UNDER A LEGAL BINDING CONTRACT THEY DO HAVE THE RIGHT TO DEPOSIT THE CHECK INTO your bank account which is another nightmare all its own.

Changed jobs and cannot pay payday loan for a week later...what happends?

You received sound advice from just about everyone except the last poster - Tim. His stats are totally false. 37 states allow payday lending with guidelines.

Contact your lender and explain your situation. If they are reputable they will work with you. They do not want your loan to go in default and collections. It takes alot of loans to make up the loss of one.

I work for a payday lender (Check Into Cash) and we follow state laws and guidelines from our association -CFSA. Please visit the links below for accurate information about the industry.