jodi_srsgs asked:
I am in so deep with payday loans and I cant seem to get them paid off,just keep borrowing to pay another one off.I was wandering if there is someone who knows how to get out of this.I am so broke and Christmas is just around the corner,but it takes all my wages to just make the refinance charges so I never get anywhere.I was just wandering if there is help for this.
Payday Loan Default
I am in so deep with payday loans and I cant seem to get them paid off,just keep borrowing to pay another one off.I was wandering if there is someone who knows how to get out of this.I am so broke and Christmas is just around the corner,but it takes all my wages to just make the refinance charges so I never get anywhere.I was just wandering if there is help for this.
Payday Loan Default
January 10th, 2009 at 12:24 pm
Get to your bank to see a credit counsellor, and see if you can get a short term loan to deal with this - their interest rate will be WAY less, then you can get back on your feet again.
January 13th, 2009 at 11:15 pm
How about just save up some cash? A good site with lots of sources: Good luck.
January 16th, 2009 at 1:28 am
It will ruin your credit for seven or so years, but I would stop paying them and learn your lesson. In Ohio, we past a law that the interest charged is no more than 28% annually I think this includes the fees. Also you are not allowed more than four of these loans in a year. Your most likely in a State where they charge there normal 300% annual interest so you can never really break out of the cycle. They have already made more money on you so I would just refuse to pay them than contact the Better Business Bureau in your State to report what happened.
January 16th, 2009 at 8:24 am
jodi_srsgs, Try calling a friend or family member first. If that doesn’t work I’ve heard good things about this site.