Is Payday Loan Debt Settlement Possible?

By Shawn Lee Martin

payday loan debt settlement
Payday Loan Debt Settlement Made Easy!

I received a call a few days back from a very desperate lady who was in tears because she had been dealing with payday loan collectors the last 2 months and needed to know if payday loan debt settlement was even possible?

I asked here why she would think it is not possible and she continued to tell me her story, and it is so similar to the many we here at Help With Payday Loan Debt hear every day.

I thought I would share her story here on the website because I know many people will understand what she has been going through because they have been there or know someone who has.

It is also a good read for those who have never dealt with or are dealing with out of control payday loan debt for the first time as it explains what these companies can put you through and it will show you that you do not have to put up with their behavior.

On with the story!

[ Click Here To See How We Can Help You With Your Payday Loan Debt Settlement!]

Jennifer’s Story


Jennifer, like many others, when faced with an unexpected financial crisis, went to her local payday loan store to take out a $500.00 loan for two weeks.

She knew she would have to pay a high-interest rate for the two-week loan but she also knew from doing some online investigating that because she had a job that paid at least $800.00 a month and a checking account she would qualify for the loan that very same day.

She walked out of that payday loan store later that day with the $500.00 she needed along with the cost of $150.00 in interest and counter-charges leaving her with a $650.00 debt.

On her next payday, she would have to cover the $650.00 she just agreed to pay by making sure the money was in her bank account.

She had agreed to letting the payday loan company make an electronic withdrawal of the payment directly out of her checking account.

The company would pull their payment of $650.00 and the loan would be satisfied in full.

If this loan ended there all would be good. but it rarely ever does end up that way and it did not this time.

Another Emergency!

emergencyAs in most stories we tell, Jennifer ran into another financial emergency and all of a sudden there were more bills to pay on her next payday than she had money coming in!

What to do?

She called the payday loan company and they told her of the option of extending her loan two weeks and she immediately grabbed at that option.

They would only take out the counter charge and interest for the two-week loan which was $150.00 and add it to the total of her next payday, meaning she has now extended her $500.00 loan for two more weeks leaving a balance of $650.00 on her next payday.

Yeah, it just cost $150.00 to borrow that $500.00 for the first two weeks and now it is going to cost another $150.00 to extend the payback date 2 weeks but what else could she do? Thank goodness for the extension option or so she thought.

Setting The Trap!

Jennifer now is up to $300.00 in interest and counter-charges and she still owes the whole $650.00 on her next payday and guess what!


Another emergency!

So she calls up the payday loan company and tells them what is going on and they extend her again for two weeks and she is again thinking wow, it is now going to cost me another $150.00 to extend this stupid loan two more weeks but what else could she do?

She is now up to $450.00 and she still owes the original $500.00 so it has now cost her $450.00 to borrow $500.00 for 6 weeks and that is IF she does pay the loan off on her next payday but alas, most people end up extending their payday loans an average of 6 times and this time she did not need another emergency to need an extension, she just ran short due to winter heating bills.

Getting Nasty

This story goes on for quite some time and in the end, Jennifer has 3 active payday loans, has an outstanding balance at the payday loan company of about $4500.00 and the payday loan company has destroyed her checking account by repeatedly hitting her account for payment after she went into default.

All this debt over a $500.00 loan and now she is dealing with the collection practices of these companies, which is ruthless!

They are telling her they will NOT settle for anything less than what she owes and are threatening her with legal action, calling her at work and at home, talking to her references she used when she took out the original loan, and even calling her boss!

The Solution!

If she would have done a bit more research on how to get out of payday loan debt she would have found us and known that she could have stopped all of this long before it reached the $4500.00 mark. but even so, we managed to get her out from under this debt in 18 weeks and saved her about $3300.00!

Even so, we managed to get her out from under this debt in 18 weeks and saved her about $3300.00!

We stopped all of the collection activity the first day she contacted us and renegotiated her amount owed getting a little under the $3300.00 stated above eliminated from the total owed.

We then set her up on an affordable bi-weekly repayment plan and withing 18 weeks Jennifer was payday loan debt free and smiling!


Payday loan debt can skyrocket in no time and before you know it you are buried in the payday loan trap so deep you do not see any light from above!

Let us get you out from under this by using out Payday Loan Repayment Plan and get some relief like we did for Jennifer and thousands of people like her!

To answer her question: “Is Payday Loan Debt Settlement Possible?” Yes, it is, and it is easy!

Thanks for reading Jennifers’ story and if you or anyone you may know are in need of help with payday loan debt please send them our way!

Do you have a story you would like to share? Please do so below in the comments!

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[ Click Here To See How We Can Help You With Your Payday Loan Debt Settlement!]

12 thoughts on “Is Payday Loan Debt Settlement Possible?”

  1. I have never used a payday loan, and hopefully never will. I have heard stories of nasty collection battles. This article certainly serves as a good reminder. I understand some people feel they have nowhere else to turn, but there are other alternatives out there. I know these things can go downhill quickly. Hopefully people will realize that there is help out there for them.

    1. Hi and thanks for stopping by!

      Yes, it can go downhill before you know it and it just gains speed as it goes.

      We offer all the help anyone would need with stopping that downhill run!


  2. Shawn,
    I have never used a payday loan company and hope i never have to.This post is very informative and shows some of the traps you can fall into.But luckily there is a way out, and your company can help.You have provided a solution to the problem. A good case study, and a warning to not have a payday loan!

    1. Hi, Greg!

      Glad you have never gotten caught up in these loans!

      It is so easy to get trapped and that is why we are here, to help people get un trapped!


  3. Hello, Shawn
    WOW!!! That’s outrageous, I knew about payday loans but didn’t know they were like that. They are worse than loan sharks. Either way, the interest is ridiculous. Like I said I knew about payday loans but I didn’t know that there were places like yours that can help people settle that debt. Which is great to know. I never took out a loan of any kind but I have a lot of friends that have and especially the payday loans. Now, I have somewhere I can tell them to go when they are in over their head with interest and debt. Your site is an answer to so many people’s prayers, Shawn. Happy Holidays 🙂


    1. Hi, Carol!

      Merry Christmas to you and yours!

      Thanks for stopping by and checking out the article. We can help anyone in the USA with payday loan debt so please feel free to send them over!


  4. Hi Shawn,

    I have never dealt with Payday Loan and now that I know about them, I will certainly avoid them. In fact, I would rather avoid any loan companies for that matter, including bank loans. They all hit you with a high-interest rate.

    Companies like Payday Loan should be considered illegal and closed down for unethical business practices.

    Thank you for this information. Have a great day!

    1. Hi, Rosa!

      Glad you read the article and I agree, they should be avoided unless that is the only option, then a person must be careful and pay them off immediately!

      Thanks for stopping by and Happy Holidays!


  5. Payday loans are bad news. Period!

    I had a friend that fell into the trap of getting a payday loan. The interest rate is very high. These companies know this, and they prey on the desperate. It’s a sad business practice but happens each every single day.

    The problem is people don’t realize that they can’t pay it all back. It then lands in collections. What do you think about asking the collections department for a settlement? Maybe 50% of what you actually owe.

    1. Hi, Garen!

      That is exactly what we do, settle these debts for sometimes pennies on the dollars.

      As long as there are payday loans we will be here to help anyone in the USA who may need it with payday loan debt.

      Thanks for stopping by!


  6. This is a great site for those like me have been sucked into this. I was socked into a title loan and a couple payday loans and have put up with all of the bull.
    They are sharks and they don’t give a crap about us.
    I think they should be illegal and your information will help millions of people with the same problems help themselves.
    Keep sharing your info.

    1. Hi, Mark!

      Sorry you had to go through that and hopefully all of that is behind you now!

      Thanks so much for stopping by and if you ever need any help just holler!


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