Wednesday, May 26, 2010

What can i do about my paydayloan hell?

I have 8 payday loans out due to an emergeny that occured last month. noone would give me the entire balance that i needed so i applied for several small ones...now i'm here trying to pay off each loan-but so far they are just taking out the finance charges..@ $90 to 100 each!! I am literally paying over $800 per paycheck just on interest alone and i get paid 2x a month. that's $1600 a month just in finanace charges. I don't know what to do or where to turn for help.I'm a single mom of 3 kids and way over my head :( Any suggestions???



What can i do about my paydayloan hell?

You should have not taken such credit regardless of the situation. But now that you screwed up you need to really pray.



What can i do about my paydayloan hell?

Consolidate your loans IMMEDIATELY!!! That should reduce the payments by amount and you would only have to make one. That is your best option. Oh, don't take out pay day loan anymore!! They are a death trap. I use to work for one of them and I was so upset at how people easily fell into their traps. Borrow from family or friends instead next time.



What can i do about my paydayloan hell?

I can't really give you any financial advice, other than just stay in touch with your creditors and keep them informed of your situation, preferably in writing. If you can pay something to each creditor each month, even if it's ten dollars or whatever, it just proves you're not out to evade them.



The worse thing to do is to hide your head in the sand. Good luck, you will be okay.



What can i do about my paydayloan hell?

Go to your local consumer credit office, they know the state laws and can help you out.



What can i do about my paydayloan hell?

I'm so sorry you have to suffer through this. No doubt it's a terrible situation to be in. Chin up, though you can get through this!!



First, I'm not going to chastise you for doing what you felt you had to do. I think you've already figured out that you won't be doing any more of these in your life, eh?



Second, and this is perhaps the most important thing: Unless the pressure of the collectors is too much for you emotionally, avoid seeking the assistance of a Credit Counseling service. Using these guys makes you pay them money for something you really can manage on your own. That money instead should be used to get yourself out of your hole! Also, using these services will put negative marks on your credit that hang with you for 7 years. Sure they might be able to help you NOW, but it will hurt you in the long run.



Third: Actually this is the most important thing: no matter what DO NOT put priority on your debts over paying your rent/mortgage and putting food on the table. Bad credit sucks, but having no home is MUCH worse. The collectors will scare you six ways from Sunday to make you give them money right away. If that money needs to keep a roof over your head then they'll just have to wait.



Now I know there's nothing in here on HOW to get out. That's because to answer that requires more specific and more personal information about your current financial situation.



Please email me and I'll give you the HOW. I've gotten through this myself. Took some scarring along the way, but I'm way out of it now and enjoying real financial freedom thanks to what I can share with you.



What can i do about my paydayloan hell?

This may not be the best idea, but it will help you out right now.



Get a loan from www.CashCall.com to pay off the payday loans. You can pay the Cash Call loan back slowly. The interest is high, but it won't eat up your paychecks.



What can i do about my paydayloan hell?

Take out more payday loans to cover the ones you owe on. And then take out more to cover those. Eventually, the house of cards will collapse, but it is no worse than the scam the gov't is pulling on all of us called Social Security.



What can i do about my paydayloan hell?

go 1 by 1 with your debts, as long as you can



If you pay 1600$ a month in finance charges, you may be able to borrow enough money to get rid of these payday loans.



Good luck !



http://index-go.com/bad-credit-finance-m...



http://index-go.com/debt-consolidation-r...



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