I was wondering if anyone knew about how payday loans affect your credit. A couple of years ago, I dececided to apply for a payday loan online. At the time, I thought it was pretty harmless, until my fianancial situation snowballed out of control and all of the sudden, I have 7 payday loans out at a time. I've gotten a couple of them paid off, but it's gotten to the point where all I'm doing is paying the extremely high interest rates of these loans and only paying the minimum amount on my credit cards. I just closed my checking account so the loans I do have left won't take any money from my account. I have every intention of paying these off, but I know they are going to start calling my job asking when I can pay them and I just can't afford to right now. Is there any type of program out there that can help me get out of this jam? My credit is not exactly the best. Getting these payday loans was the worst thing I could of done, and now I feel like I have to file bankrupt just to have a clean slate. I live in Minnesota. Please help!
