New here.

Hello my name is Natascha. I am from Tennessee. I stumbled upon this site last night after not being able to sleep. I have 4 payday loans and 2 title loans. The intrest and extension fees on these loans make me sick to my stomach. This week I have been stressing about when I get paid Friday I will have no money to pay my past due utility bill. I may even be in the red.
Reading some of the entries on this site made me feel a little better because I see people have been or are in the same situation that I am in.
After reading some of the entries I decided to go to the bank to do some stop payments. I hope it wasn't too late. They told me it takes 24 hours and my direct deposit goes through tomorrow. I couldn't close the account because I have a negative balance. The bank wasn't very helpfull and they made me feel a little stupid for falling in this trap. They even told me that I have to call these people first before they do a stop payment.
I found out about Prosper.com on this site and registered. I want to put an ad but my credit score is 502 and it has to be 520.
Does anyone have any experience with Prosper.com that has a score lower than 520?
The total of my loans is $2200. I make $1300 a month and my fees run $600 a month. I ahve an appointment with Consumer credit counseling in the morning to consolidate other bills. Does anybody have any suggestions? Thank you very much.

I posted with prosper and not one person bid on me...two times in a row!

I was a high risk, but managed to list on Prosper. I think my credit score was 560 even after having 6 new delinquencies appear on my credit report because of falling behind on my regular bills and credit cards due to the payday loans. If you are with a good group and have bad credit, it's easier to get funded. I had to fax my W-2 and paystubs to my group leader to show that even though my credit was a little shaky, I did have the income to repay the Prosper loan. This is called "vetting"..and when a trusted group leader vets you, it really helps get bids fast. You can try to pm me if you have any more questions. It took four listings, but I finally got a small loan for $1150. I could have let my listing run a little longer and/or asked for more funds, but I just needed to get some cash to pay off some loans before the due dates. It will take time and it's not easy to hear this, but if you want to pursue the Prosper.com solution, it's not an easy quick fix like a payday loan...I guess that is why some many people get caught up in the trap. It took me about a month from start to finish to find a good group, get verified, send in supporting documentation, and tweak my listings.

In the meantime, maybe you can get a friend or relative to at least pay the overdraft fees at your bank so you can close that account out. Open a new one, DON'T give any of the payday lenders your new bank info. You can also try and see if you can open a new account at a different bank. That works for some people. Then when you are able to pay for your basic bills and get a little caught up your credit score will be higher in a month or so and you can qualify for a Prosper loan to help you get over the hump.

Welcome to the Community Here is a link for Pay Day loan info for Tenn. at http://www.paydayloaninfo.org/state_detail.cfm?id=TN There is a lso a place to send complaints,etc., make sure you have not already overpaid these. I am not a big fan of taking out a loan to pay off debts, for me, it kept me in a viscious cycle. Find out about your pdls first, try to get your account in the positive where you can close it, and talk with the credit counselor from this site-since you are registered, it's free, and see what options you may have. I talked with cc companies, and they dropped my interest so I could get caught up. Good Luck! If you have any questions, please ask..KAren

Thank you for more info Joshua1987tree. I'm on my second Prosper listing and still nothing. I tried to join 2 groups but because we are HR and our Florida State Max interest rate is 15.5%, we were told it would be "hard" to get a loan. But I haven't given up.