I have 4 paydays loans in TX. 2 are $1200 each. I haven't been able to make payments recently. What can I do and what action can they take against me?
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The creditors can sue you for the money you owe. They could also report you to the credit rating agencies.
You could try to negotiate a payment schedule you could make, or a reduction in the principal so you could afford to repay the loans. However, creditors do not need to negotiate with you. If thhey refuse to, and you are significantly underwater on your debts, you might consider bankruptcy as an option.
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