Ok you had to get a payday loan and if you’re like many people you don't have just one you now have several and the bi-weekly payments are killing you.

You barley have enough to cover the payments for the loans and it’s leaving you with nothing for your day to day living expenses.

What do you do?

Well I know it may be tempting just not to repay them and to let the lender wait for payment.

That's not a good idea since it can negatively affect your credit rating if the lender tries to cash a check against you and it does not clear. Rather than do this, there are other options for getting out from under the debt you’re dealing with.

Borrowing From Another Source

One of options you have is to borrow from another source to repay the debt, and I don’t mean go get another payday loan to pay off your loans.

See if you can borrow from a friend or family member. Maybe your employer can help you – sit down and talk to him/her and let them know what’s going on.

It’s possible they could give you overtime or even lend you the money to pay off the loans and then you can make arrangements with your employer to pay back what has been borrowed to you by simply taking your payment off your check every two weeks until the money is re-payed (no interest of course).

Now borrowing from friends, family or even your employer may not be the best option or even not a possibility so another option is to use a debt consolidation program from a reputable debt consolidation company.

These are not new loans but rather an opportunity for you to lump together all of your debt and make one monthly payment to pay off your loans.

And you can do this if you have multiple lenders or just one. The good news is that a debt consolidation company can get all the interest and fees stopped, and they do this by taking over the loans - this way the lenders have to deal with them from now on not you.

Once they take over your loans they will renegotiate your payments with the lenders, which will end up being far less of a monthly payment then you’re paying right now every two weeks.

And depending on your situation your payments will be set over 6, 12 or 18 months, you’ll now pay the consolidation company every month and then they will pay your lenders.

I know things look pretty scary right now – but you do have options – if borrowing from friends, family or your employer is not an option then I highly recommend talking to a payday loan debt consolidation company right away – they can get you clear of these payday loans starting today!!