Q&A: What can happen if i can’t pay back pay day loans?

Question by Tori Lynn: What can happen if i can’t pay back pay day loans?
I have 7 small pay day loans out and i’m unable to pay them right now. They have been calling me and leaving threatening messages. They have even called me at work. I don’t know what to do or what they can do to me? Can someone give me some advice on this?

Best answer:

Answer by spiritgide41
It sounds like you are a strong candidate for bankruptcy. If your condition allowed some way to recover, it would be different. From your description, I get the impression that this would not be possible. Bankruptcy will give you a fresh start, and I would not delay. I have been in the position many years ago, and been bankrupt; I understand the difficulty. I also rebuilt my life and now have top notch credit and am strongly financially secure. In some conditions bankruptcy is a new start, not the finale.

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It sounds like you are a strong candidate for bankruptcy. If your condition allowed some way to recover, it would be different. From your description, I get the impression that this would not be possible. Bankruptcy will give you a fresh start, and I would not delay. I have been in the position many years ago, and been bankrupt; I understand the difficulty. I also rebuilt my life and now have top notch credit and am strongly financially secure. In some conditions bankruptcy is a new start, not the finale.