Probably the best way of eliminating a payday loan from your life is set your mind to rebuild your credit score so that in the future if you need to borrow money you will be able to do it more cheaply. Set yourself a budget and try to stick to it and once you have managed to pay off the payday loan, including the interest, don’t take out any more. If you have other outstanding debts then get yourself on a debt management plan and make sure that you don’t default on the payments. Ask to see your credit report and check that all your debts are listed only once. Creditors very often hand a debt over to someone else to collect and the initial creditor still remains on your credit report so that it looks as if you owe the money twice.

When you find errors on your credit report you need to write to the company providing any evidence you may have that the entry is wrong and ask them to remove it, you may need to do this several times but setting the record straight is one of the biggest steps in rebuilding your credit. Get yourself a secured credit card and open a savings account that’s linked to the card. You will only be able to spend the amount of money that is on the card but other than that a secured card is like any other credit card, which means it starts to build a more positive history. The only proper way to eliminate a payday loan is to get your credit report straightened out and use a secure credit card until you credit score starts to look healthier. Once you have had a positive impact on your report you should be able to borrow money in the conventional way when you need it and eliminate the need for a payday loan from your life. Many state governing bodies provide information on a typical payday loan to inform people how these things work. Vivix Credit Solutions offers a free consultation to review the challenges that you may be facing and to determine the best plan of action to resolve your credit and debt problems.