Help. Drowning in payday loans.?
I need serious help. I have about 00 in payday loans out and can’t keep up the interest payments. It started out as one payday loan, then another to pay that one, and so on. No one wants to give me a regular loan because I have bad credit, which is caused by a bad divorce and then getting with someone who I tried to help out financially by loaning him all my cash and then he lost his job and now I’m the one with the bad credit and no cash. What happens if I don’t pay these loans and can I file them on a bankruptcy? I have no cash for an attorney to file bankruptcy. I just need a 00 to 000 loan and I can get back on my feet and stay away from the payday loans forever. Someone with a heart, please help me. I’m losing all hope of any end to this hopeless situation.
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just say NO!
First thing is to stop paying them.
If they are holding checks, put stop payments on them or close the account.
Also send them a letter via certified mail to return those checks to you. Keep a copy of the letter for yourself.
By not making payments you will be defaulting on a contract, just like the other accounts you did not pay.
Second thing, stop trying to borrow any more money, if you are in debt, going more into debt will not help.
Find a local CCCS office. Or if you want to avoid bankruptucy work the the payday lender on a settlement. You can do that for your other accounts.
Just make sure you keep records, do things in WRITING, keep copies of everything.
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This person has no intention on hearing any answers other than her own. She posts all these similar questions and then logs in under a different name with a link to a site.