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Hi, I need some advice with my payday loans. I live in Michigan, have already closed my bank account and opened a new one. I've written letters to all my payday lenders. Some have replied but some didn't. There are still some accounts left that need to be solved. I'm not sure what to do.

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Try to reach out immediately to the Michigan Office of Financial and Insurance Services to make sure whether pdl companies are licensed in your state. What I know, payday lending is legal in Michigan. If not, you just need to pay the principal amounts to your lenders. If your financial position is not well, you should try to come to a settlement with your lenders. However, if you are not skilled at doing so or the lenders are rejecting your proposal, you can get professional help.

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Last Updated on: Fri, 8 Jun 2018