Anne B asked:
I got behind on some bills, and was helping my daughter out financially, now I am stuck in the payday loan cycle…I have terrible credit so it was one of my only options, I keep having to get another “loan” to pay on the “loans” I have! HELP!!!!!!
Payday Loans
I got behind on some bills, and was helping my daughter out financially, now I am stuck in the payday loan cycle…I have terrible credit so it was one of my only options, I keep having to get another “loan” to pay on the “loans” I have! HELP!!!!!!
Payday Loans
January 11th, 2009 at 8:13 am
Your first error was ‘helping your daughter financially’. You were obviously in no position to do so, and should have said ‘NO’ when she asked. Meanwhile, the only way out of the cycle is to come up with enough cash to pay it off in full. Not a pretty situation.
Learn to handle your own finances before you think you need to help a daughter.
January 12th, 2009 at 6:00 am
“Borrowing from Peter to pay Paul” guarantees poverty and misery. You have to use your paycheck to pay off the loan FIRST. You cannot buy groceries, a cheeseburger at McD’s or anything else until it is paid. These are very short-term loans — something to tide you over until payday — when you have to repay the entire amount or get financially “killed” by the fees. Get a second job or whatever you have to do to pay them off fast or you are food for vultures. And you better believe they WILL eat you!
January 15th, 2009 at 11:37 am
i dont know, im just answering for points, who would do the same as i am??
January 15th, 2009 at 11:43 pm
Plan your life. Examine what you get in….. Examine what goes out. As an adult…. make adjustments that will get you closer to ending your debt. YOU HAVE 100% CONTROL HERE…. everything is available for you to do this….. just take action.
(I know you’ll think I just don’t understand……… but I got sick many years ago & found myself in a similar situation…… I got honest with myself…. it took 3.5 years….. but I got out of my delima with a written plan… by being honest with myself & reality)…………………………
January 18th, 2009 at 6:33 am
I did what you did exactly but i was saving a house from going into default.Here is some solid advise.I let them take out what i owed .I went to collecting cans literally for cash to run on and i did not go out to eat.I paid one of them there two hundred out of my check and now theres only two little ones and then it will be all over and you just have to tighten the belt its all you can do.A yard sale or take some things ya dont need to a pawn shop and get some cash to run on but get out of that mess soon as you can they were good for us when we needed help but not in the long run it is a horrible mess to get in.They even tried to take my money out on a date i had not even specified so i went to the bank and they stopped them from taking it out till my payday.She told me that they cant change the dates to suit themselves and it worked and i got them paid once and for all on the biggest one.I am only eating once a day but there paid and i got car gas and geez i actually had a pepsi last nite so theres hope just do some good management thinking and best of luck to you