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Every month hundreds of people contact us who are struggling to pay off small payday loans.


The most regular loans our clients have trouble paying are Cash Converters, Cashtrain, Cigno, Jacaranda, Money 3, Moneyme, Moneyspot, Nimble, QuickCash, Rapid, Sunshine, Swoosh and Wallet Wizard loans.


People usually take out these loans to cover the rent, or food and expenses, but these loans become a problem when the repayments take most of your income each week leaving you short.


Are you currently finding it hard to pay your small debts on time?


You don’t have to stay stuck in the payday loan trap. At Solve My Debt Now, for a regular and affordable payment made to us, we negotiate with your payday lenders to reduce or waive your debts, reduce, or freeze your interest and achieve moratoriums on your debts to give you some breathing space while you are going through hardship. We then set up affordable payment plans to pay off your reduced debts.

Here are some other hints to get on top of your payday loans.

Make a list of your small loans

Once you start taking out small loans, don’t turn a blind eye to them. The first step to properly managing your loans is by admitting that they exist. While it may not exactly be a very pleasant situation to remember all of your debts, it’s better that you are honest with yourself.

Prioritise paying high interest loans first

The best thing to do is to pay off the loans with a high interest rate first. So add the corresponding interest rate to the list of small loans that you made. As a general rule, most home loans and student loans have lower interest rates and better tax credits. You can categorise these as your “safe” loans. On the other hand, personal loans and credit cards debts have higher interest rates. So, get this group of debts over with first.

Pay On Time!

While it may seem like an impossible task to achieve, you’ll want to pay all of your loans on time. As you create your monthly budget, make your loan payments a priority, so that you don’t default on any of them. It’s better to sacrifice a few luxuries or treats in the month so you can pay your loan on time, rather than have your loan continue accumulating interest and fees.

Borrow from Friends or Family

If you still can’t cover your repayments, consider borrowing from friends and family. However, if you choose this option, recognise that borrowing money can often ruin relationships. To keep this from happening, write out a contract stating how much you’re borrowing and when you will pay it back. For good faith, state how much you will pay weekly or monthly. If you want, you could even offer to pay back the loan with a bit of interest.


Then, dedicate yourself to paying off this loan as quickly as possible. Nothing ruins a relationship faster than someone who doesn’t pay back a loan to a family member or friend.

Final Thoughts…

Payday loans may seem like an easy, quick way to borrow money, but they can trap you in an endless cycle of debt. To break that cycle, utilise one of the above debt consolidation options so you can stop paying so much in interest and pay off what you owe.

Call the solve my debt now specialist team today on 1300 070 672 or email help@solvemydebtnow.com.au

Want to Solve Your Debt? Let us Help – Today

Book your FREE Consultation now and talk to one of our qualified SMDN Advocates that will help put you back on the road to financial freedom!