How do you get out of the payday loans loop?

How to get out of payday loans? Living these days may not be easy, but it offers so many toys and pleasures! Maybe we can’t afford all of them, but in the end what the loans are for. It suits that, pulls us to this and that. Friends have that and that. An explanation over at

We organize our lives according to others, according to advertising and television, according to celebrities and neighbors, according to friends – never according to what we can actually afford. And we will not look back, and we are already looking for a way to exit the payday loans loop.

Why do we take payday loans without thinking?

payday loans

A little because we lose thinking “somehow it will be”, a little because to color the life, which perhaps from an early age was not the best. To feel someone, get attention.

A bit of fear of facing the facts.

It is very easy to take the first loan. And it’s easy to admire what we will gain thanks to the loan. It is so cool – a new apartment or a car, or just something that we could not afford, and yet we have. So cool that it tempts you to feel it again. And then maybe it is getting short of installments, so we take a loan for these installments.

And when no more credit is available – we go to the level of payday loans. This month installments will be paid off with free payday pay. And next time you will think about it. And you think. About the next free payday. They end up free – but calls from angry creditors start. So you have to take what they give – that is, the expensive ones. And we wonder how the hell it happened.

How to exit the payday loans loop?

payday loans loop?

Imagine a fireman who puts out a fire with gasoline. This is the same mistake as leaving the payday loans loop with a new payday loan.

No oil is added to the fire. No gasoline is added to the fire. Payday loans are not payable with payday loans.

No matter what stage of the fire you are in – look for SOLUTIONS, not payday loans. Look for a way to get out of debt instead of paying the installment or closing your mouth. Are you afraid of telephones? Don’t answer. It’s hard. Settle matters differently, wait until you calm down, gain courage and call yourself.

Do not take payday loans, just because you are afraid of voices in the handset. There is a way for everything, you can live well with debts.

The payday loop is a very serious threat to everyone who has any contact with it. As always, it starts innocently, eg free first payday pay, no fees and commissions with a minimum of formalities.

Before you look around, you have a few payday loans and you start to slow down on impending repayment dates, they are increasingly losing ground. In amok and panic you start taking more payday loans and loans, wherever you can – congratulations! you just fell into a loop of payday loans, what’s next?

You can choose from 5 options:

Dividing payday installments into installments

installment loans

If the payment of the payday loans in full amount is no longer possible and the repayment deadline is inevitably coming, try to spread all the payday loans you have – in installments.

Download the application for paying out payday installments, print it, fill it in, and then take it or send it by registered mail to all loan companies.

A consolidation loan to pay back payday loans

consolidation loan to pay back payday loans

If your credit standing and credit history is not the worst then it’s worth getting a bank consolidation loan. Thanks to it, you will collect all payday loans into one debt, after which they will be repaid and you will stay with one-month installment of the consolidation loan.

In turn, if you get a refusal from a bank, you can still go to a loan company for a consolidation loan. Loan companies are not as demanding as banks and a consolidation loan in a loan company is much easier to get.

The downside to consolidation in a loan company is higher APRC loans than APRC bank consolidation loans. Well, but “if you don’t have what you want, you like what you have” right?

Payday refinancing

Payday refinancing

Most loan companies providing payday loans offer refinancing payday loans, thanks to refinancing, payday payday repayment will be postponed for another month, unfortunately this is a very expensive option and seriously consider whether it is worth using it.

A loan from a family

A loan from a family

If none of the options above is possible, try to borrow money from a family member or friend. Thanks to this interest-free loan, you will be able to pay back payday loans / payday loans and you will not incur any additional fees.

Of course, I realize that sometimes it is difficult to find someone who could lend us this money, but it is worth talking to a few close people and try to ask for financial help.

At this point, I encourage you to download a loan agreement template, which will make conversation with a person close to you serious and your interests will be 100% secured.

Debtor-creditor settlement

If you failed to take advantage of any of the above options and payday loans went to a debt collection company or bailiff, remember that you can always try to settle with the creditor and repay the debt based on conditions negotiated jointly.

Repayment takes place directly to the creditor, bypassing the debt collection company and bypassing the bailiff. In this way you will stop the accumulation of additional costs generated by debt collection and debt collection proceedings. So I encourage you to download the debtor-creditor settlement agreement template.



I hope that the payday loop you are in will be quickly terminated and your life will return to normal. Exiting the payday loans loop is not an easy task, it’s a fact.

Hard moments and moments of doubt await you, but for the sake of yourself and your family, don’t give up and pay off your debts with perseverance and consistency. Don’t let payday loans ruin your life!