1. Get organized!

This step always seems to come first with these matters, but that’s because it’s essential to the process. Know exactly how much you owe on what. Figure out which credit cards and loans are charging you the most interest, and create a realistic budget for your monthly expenses. This can be as simple as an excel spreadsheet where you enter in your monthly purchases and bill payments or as complex as buying specialized software like Quicken to help you manage your budget.

Advice for payday loan borrowers – tips for getting out of debt

While we know most of you are responsible borrowers who pay back your payday loans on time, we realize that some of you may have other forms of debt that are weighing you down and keeping you from achieving financial success. This could be credit card debt, student loan debt or other personal loan debt. There is a way out, but as usual with financial concerns, it takes time and discipline. Here are a few bits of advice to get you started.

Know your credit score

Whether or not you get accepted for a payday loan could be determined because of your credit score. To find out your credit scores, contact all three credit bureaus – Experian, TransUnion, and Equifax. While the scores likely won’t be the same number, they should be close.

Note: There could be a fee for getting your credit scores.

Contact Information:

My FICO (Fair Isaacs): http://www.myfico.com
Equifax www.equifax.com 800-685-1111
Experian www.experian.com 888-397-3742
TransUnion www.Transunion.com 800-888-4213
Centralized service to obtain credit reports from all three credit bureaus:

Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281