tony42753 asked:
I found myself in a financial need because of many things and took out way to many payday loans to try and fix my financial problems now I don’t know how to get out of this mess. Help!
I found myself in a financial need because of many things and took out way to many payday loans to try and fix my financial problems now I don’t know how to get out of this mess. Help!
January 14th, 2009 at 9:51 am
You need to pay them off quickly and don’t get another one. They are a bottomless pit with the interest rate.
January 16th, 2009 at 11:36 am
I’m just gusessing, but did you use a payday loan to pay off another payday loan? If so, bad move, but there is a plus side to this. At least one loan is paid. Do *not* however apply for any further loans. Period.
Some companies will allow extensions (usually up to 2 weeks) to repay the loans. This comes at a high cost, but you do NOT want to go into default with these people. I assuming you’re working. Is there a way for you to work overtime, or maybe even secure a p/t job? The sad truth is that there IS no end to this until the last dime is repaid.
Last thing, you’ve got to take like 95% of the blame for the mess you’re in. These companies are all vultures and prey on people in down-on-their-luck type situations, but they didn’t “allow” you to get into this as you claim. If you don’t change your mode of thinking, you’ll be spiraling downward from this mess for a long long time. Good luck to you tho.
January 17th, 2009 at 2:39 pm
I did the same thing you did. I recently heard about Prosper.com. I visited the site, registered with them because its free. I got my loan with them within 1 week of registering. Try it its so easy.