How much trouble am I in? delinquent loans and credit.?

I have 3 pay-day loans that are going to become delinquent and 2 credit cards that have gone to collections already and are threatening a lawsuit...I have no money to pay them anything. What's going to happen?

loans are about $1300 and credit cards are about $3000

1st they can not threaten a Law suit, that is against the Law..
They are trying to scare you to get some money...
Why are you not paying off the loans? You could call a consolidating loan company who will help you pay them off...
You need to write down the money that you are makeing, then list all of your expenses and pay the high interest off FIRST...
That is not a lot of money and you could do it in one year...
good luck

Nothing will happen. Just change your home and cell number so they cant contact you anymore. It will just ruin your credit. If you dont have the money to pay it, then dont worry about it theres nothing you can do except live with the bad credit.

They will of course threaten to sue, but they wont bother. The amounts you just posted are too minimal to bother with the hassel to sue.

try credit counselling that's what I did, they consolidate everything, lower your monthly payments, and get the interest charges stopped., it's hard to get your head above water when you are paying and it all seems to be interest npthing coming off the principle. Just remeber if you screw up your credit and don't fix it it's almost impossible to get a mortgage or a loan.

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