What can i do about my paydayloan hell?
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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.
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