Q&A: I need help I have gotten quite a few payday loans in the past couple of months and now thats all I ever pay.?
Qυеѕtіοח bу shoresgirl: I need һеƖр I һаνе gotten quite a few payday loans іח tһе past couple οf months аחԁ now thats аƖƖ I еνеr pay.?
AƖƖ οf mу οtһеr bills аrе behind cept fοr tһе major ones аחԁ I don’t know wһаt tο ԁο. I аm іח payday hell саח someone please һеƖр mе?
Best аחѕwеr:
Aחѕwеr bу EAG
ѕtοр borrowing money, pay tһе іmрοrtаחt debts first
Wһаt ԁο уου tһіחk? Aחѕwеr below!
4 Responses to “Q&A: I need help I have gotten quite a few payday loans in the past couple of months and now thats all I ever pay.?”
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The only answer is to tough it out and get those paid off – then don’t do it again unless it’s life or death.
They just screw you and you get more and more behind, because you are spending money that you ultimately don’t have.
Can you secure a small loan through your bank to pay those off? You will likely end up in better shape and then have a lower payment on one balance instead of a few.
Talk to a credit councillor about your situation and the possibilty of a Consolodation Loan. This will pay-off ALL your current debts, and give you one debt to pay monthly with an overall lower payement. You can use the saved cash to pay your current bills as they come due.
Avoid Cash Stores or Payday Loans as they have frequently in the past few years, many store front operations and entire chains, been charged criminally for Usury due to all the fees and charges above and beyond the interest charged.
Once you are out from this nightmare, keep it in mind, and where luxuries are concerned, if you don’t have the cash available, don’t buy it.
Good Luck!
My friend had trouble in this area and the only thing that helped her was to Consolidate! If you have a major credit card, call the company to see if you qualify for a lower APR or a promotional rate for a balance transfer (these can last from 3 to 9 months provided you do not default on payments). Don’t be afraid to ask what they can offer you and listen very closely to any disclosures they read… ask questions if things aren’t clear). Use this wisely to pay off all the others you owe asap. Don’t forget that when you carry a balance on a loan you are being charged interest EACH DAY, so putting money down to pay it off any chance you can will really help out.
set up a really strict budget–no outside meals, cheap food at home or take to work. no trips, use the bus, that kind of stuff and STOP using those places–their interest rate is crazy high.