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    janeya's Avatar
    janeya Posts: 2, Reputation: 1
    New Member
     
    #1

    Jul 10, 2007, 06:45 PM
    Consolidating payday loans
    I was wondering if I could consolidate 6 installment loans with a payday loan store and if yes where in the state of Illinois.:( :confused:
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #2

    Jul 10, 2007, 06:53 PM
    First you don't ever, and I mean ever borrow any money from a payday loan store. This is as close to a man in the back of a pool hall lending you money. The interest rate is the highest allowed, and it will just keep you deeper and deeder in debt.

    IF you have 6 loans, try getting a new loan at a bank or somewhere for the loan. A payday loan that is renewed each payday is not the way to go.
    gazelleintense's Avatar
    gazelleintense Posts: 175, Reputation: 13
    Junior Member
     
    #3

    Jul 10, 2007, 07:39 PM
    Try a credit union.

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