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Glow · Posted: Thu May 18, 2006 6:27 pm Subject: my debt story

Hi,
I live in Michigan and last summer I decided to turn in my nearly paid-off car and get a newer one. I had found my dream car, but the payment became my Nightmare, and my financial downfall. After I got the new car I also got three new credit cards soon after. I started having problems paying all my bills and the new car payment so then I started getting online payday loans. The payday loans are the worst. I regret doing them the most of all. I've been contacted by the famous Jacoby and myors, or whoever there going by these days and because of that call I found this forum. I signed up with a debt consolidation company at the end of April and I'm also going to talk to a lawyer. Because of the harrassment from the payday loan companys, I'm seriously thinking of doing chapter 13. I'm constantly worried I'm going to get more threatening calls and I gringe when my phone rings. I've been in much bigger debt before but this is crazy. Payday loans should be out-lawed. Thanks for letting me vent and tell some of my debt nightmare.

Posted: Thu May 18, 2006 6:50 pm Subject:

Don't feel bad over the past. We all make mistakes and you have learnt from your share. I second with you that payday loan business should be shut down. But more importantly, we should stop others who are still new to it. Instead of letting them to regret later, we should make them realize about the consequences in the first place. Once everyone stops using payday loans, the business will automatically shut down.

Consider chapter 13 to be your last resort. Companies like Jacoby Mayors are a scam. Don't ruin your credit because of them. Use your federal rights and fight them back. Use the federal laws as an umbrella and protect yourself from these crooked collectors.

There are some other better options that can help you in building your credit. Your consultant will step you towards financial freedom. Meanwhile, I will suggest you to browse over some of the topics here in the debt consolidation and settlement page. There are loads of information and helpful tips on how to overcome the debt problems.

Posted: Sat May 20, 2006 6:55 pm Subject:

I have a question for you Glow---maybe it was in your post and I didn't catch it. Did your debt consolidation company allow you to put your PDL's in debt consolidation? I have heard of Jacoby and Myers for years now and my opinion is that if a law office has to advertise on TV, they must not be totally on the up and up. This is just my opinion---I have had no experience with them. I have always seen these discount orthodontists advertising on TV too and always think "they're not gonna work on MY teeth"!