How do I get out of big mess? Not thinking very clearly I got 3 payday loans in 20 days plus the 3 loans with another company. I now find myself owing 1340 in loans plus rent. I pay 2064 month with 1690 SSD.
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Not knowing a whole lot more about your situation I would say the very best thing is to get it all consolidated
If you could get a credit card with decent apr that would be preferable than those guys but I assume you dont have great credit or else you would have done that instead of pdl
There are companies that offer payday loan consolidation but I know nothing about them but for instance here are some
www.ovlg.com/
Aside from that there are credit counseling organizations that help consumers this link provides a review of some www.consumersadvocate.org/
Jean I think yours was the most helpfull. I found the others to be quite offensive they all seemed to think credit counseling is what I need. The first words from you was not knowing my situation. I know what I did and why I did it. But since I just separated from the husband of 13 years and no chance of this 56 year old either going back to him nor getting off disability.
I appreciate that. I read the answers and see what you mean
People's assumptions at one's financial decisions (which I know I have made IE I foreclosed on a house because I'd gotten a ninja loan once back when everyone was doing it) and blindness as to the plight of the working class and the way at times life offers no easy solutions are things I've mostly learned to ignore from others
I didn't even know bankruptcy was still an option because last I heard they'd made it hard to get but am glad that it works out for you
Best of luck!
Thank you Jean you are a very kind person. I pray that happiness finds you in all you do in life.
You need credit counseling , which can be free. Payday loans are a trap. Many people never get out from under them. The interest rate keeps you from ever getting ahead
You got yourself 6 total payday loans, but what did you end up using the money on?
Did you use that money toward rent? Or??? Did you buy anything that you can return to get some money back.
The worse could happen is you will have to contact the company and ask if you can do a payment plan. Ultimately if you do not pay back, it will be on your record and sent to a debt collector, from where you'd consolidate the payment for less, but it will still show on your record. Not good to have a bad credit over $1,340 in loans though.
This is a major problem you are in. Payday loans are the worst thing in the world to apply for. They are so willing to give them to everyone because the interest rates are so high on repaying them back.
It looks like you will need to seek some advice from a credit counselor and work out a payment plan. This will not be easy to pay back and you could be stuck in this mess for way over a year or longer.
You have placed yourself in a very bad situation and it will take a very big change in your life style to pay off these loans.
Whatever you did with the money is no longer important but getting out will take a lot of will power and dedication. Hopefully, you can ask a friend or family for help.
If there is no one to ask then you may have to try credit counseling. Just be aware that some credit counseling companies are a rip off too.
You might want to check this site out.
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