4 Rules to Get Out of Payday Loans

Here are 4 rules to follow in order to get out of all your payday loans. These are from Chapter 6 of my book, “How to Get Out of Your Payday Loans.”

Rule #1

The full time job of your payday loan lender is to keep you in debt! Payday loan lenders are not your friend!

Rule #2

Don’t let the collector “get inside” your head. Share nothing; zero information. Never use abusive language. This is a game so keep your cool. For the collector, it’s not personal. They’re simply doing their job. Payday loan collectors are generally not the “cream-of-the-crop.”  Those who are really good, move up the food chain to mortgages, credit card debt…

Rule #3

Never, ever give a payday loan lender access to your bank account again. Use Western Union, Money Gram, a money order, a prepaid card… anything but your bank routing and account numbers! NEVER!! And NEVER cash a check you receive from them!  (More on this later.)

Rule #4

Never volunteer any information to a lender or collector. They already know EVERYTHING about you as a result of your payday loan application. That means no updates regarding your phone number (get a throw away, prepaid phone at Target, Wal-mart, Radio Shack…), your employment, your address, your new puppy’s name, children’s names… NOTHING!

Your Job is to “poor mouth” yourself; you have zero money today and zero prospects for tomorrow.

Download my book to learn 15 more tactices to get out of your payday loans.

4 thoughts on “4 Rules to Get Out of Payday Loans

    1. Yes, the last thing you want a collector like me to know is that you have a new job, expect a raise soon, have an asset you can sell, someone you can borrow the $$ from…

      Royal Paine

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