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I have recently gotten myself into what seems like a bottomless pit of trouble. It began when I took out 2 high dollar fast cash installment loans; one with CashCall for $5000 (3 years) in March 2007 and a previous one with QuickClickLoans (2 years) in September 2006. They were debiting $254 and $200 each month respectively from my paycheck. In September 2007, I experienced financial hardship and health issues that caused me to have significant cash expenditures. I was having such a problem making from day to day and week to week that I began using my corporate credit card to take care of basic living expenses. If I had that $450 a month, I would have been able to make it.

Because the corporate card requires the full balance to be paid at every billing cycle, I put myself in an even deeper hole because I had a $5000 balance to pay immediately. To try to help pay this I took out a $1500 installment loan with First Bank of Delaware. Now they began taking $350 out of every paycheck! At this point, I can’t even pay the rent, etc. So, foolishly, I took out a series of $300, $200, and $500 payday loans to try to cover the other payday-type loans I had and, again, to try to payoff my corporate card, which I have yet to do. The companies that I took out these additional loans with are United Cash Loans, e-payday, xpress payday, CashNet USA and NetCash USA.

Now, I am REALLY in trouble. With ALL of my paycheck going to Payday Loan payments, I have no money to live and I am now facing losing my job because I can’t payoff my corporate card. I think I can work to figure out a way to dig myself a little out of payday hell, but there is no way I can pay the $5000 balance on my corporate card, which has to be done in 3 weeks for me to avoid termination. I can’t get a personal loan anywhere because my credit is horrible and now, all my payments are behind.

I don’t know if there is anything I can do at this point, but I would welcome any feedback or suggestions from the group.

Dee Dee · Posted: Wed Jan 09, 2008 4:22 pm Subject:

Hi - I'm not sure where you work but alot of places - (although they don't advertise it to their employees) offer emergency loans or payroll advances to their employees that can be paid back over installments, check with your HR dept or check your company website. I too am in debt and am currently trying to work things out so I'm just giving my input. I'm sure the experienced counselors can probably help you more, but I would look into that and possible see if you can talk to a counselor and do a debt consolidation with all of your pd loans. Also a few years back (before I had my daughter) I got a second part time job to pay off a debt. If you have the time you could try that temporarily - it's money you've earned and don't have to pay back. Set a budget and do the second job temporarily to get your head above water so you don't end up relying on the second job. If that's not an option try to get these consolidated as soon as you can and see if you can get an extension for the corporate card or speak with a supervisor of the cc company and see if you can set payment arrangements or get an extension. Wish I could help more - good luck

Posted: Wed Jan 09, 2008 4:57 pm Subject: losing my job

Hi- Dee, sorry to hear about your financial problems. i was in the same boat about one month ago. i am married and my husband didn't know about the financial mess i got us into. he trusted me completly with the check book and the paying of the bills. when i came out with it and told him everything he was very understanding and supportive. he has taken all financial issues out of my hands, my name isn't even on an account at this point. i guess you could say i am being treated like a child, but i need to be right now. anyway we have just signed up with a company call town and country the # is 205-823-7858 i got this name and # from this site. it dosn't cost anything to give them a call and see if they might be able to help you. well i hope my story helped, at least you know your not alone.

Posted: Thu Jan 10, 2008 7:26 am Subject:

Well if it were me and I found myself in this predicament I'd start selling anything of value to pay that card off if possible, also I would ask family memebersfriends for any amount, lastly if all else fails I would start looking for another position asap before the ^%$# hits the fan as it is easier to get hired if you have a job than when your unemployed. My heart goes out to you and wish the best outcome possible.

Posted: Thu Jan 10, 2008 8:49 am Subject:

Depending on the laws of your state (and you should check those first) you might be better of putting a hard hold on your checking account or just closing it. You can often work out payment arrangements with the PDL compnaies. What state do you live in?

Posted: Thu Jan 10, 2008 10:49 am Subject:

I'm truly sorry you are going through this difficult time. It sounds like your first priority right now is KEEPING your job. Are you possitive that not paying the amount in full to your corporate card would leave you without a job? It may be time to swallow your pride and speak with someone to see if you can make payments or SOMEthing on this corporate card. If that is not an option then you need to act fast to preserve your job, for without your job you have lost all means of getting a resolution. My first move would probably be to either close my current account and open a new one at a diffeent bank, or put a hard debit block on it so you are able to have money to live on, and hopefully money to pay off this corporate card!

The installment & payday loans will need to be contacted AFTER you close your account, then perhaps you can make other arrangements with them to pay off those loans. These are just suggestions for now, until you can post the following information below, I can only give you general suggestions. Please post:

-The state you reside
-Amount borrowed & paid back of EACH loan
-Names of each company, whether they are internet, store front, or installment loans.

Posted: Thu Jan 10, 2008 12:01 pm Subject:

The past 3 jobs I've had a company Credit Card for travel and such and I had to sign a HR doc stating misuse was grounds for termination, least it's been my experience it's a common practice. I once had to use mine for a personal reason which was sorta a near last resort lucky it was just a few 100 dollars and I had planned to pay the entire amount before it was due at the end of the month, few days after I had made the charge I had a decrete note from the VP I reported to I did a no-no and needed to clear it up asap which I did, what I am saying is I am sure someone at her company is aware already.

Posted: Fri Jan 11, 2008 8:05 am Subject:

Quick Click and Cash Call are no joke. They will sue you to get the money back.

Posted: Fri Jan 11, 2008 10:25 pm Subject:

I am so sorry to hear about your troubles and deeply sympathize with you. I do have to agree that paying off that corporate card is job one here. One suggestion: does your company have any type of Employee Assistance program? And can you see them on Monday?
I would also talk to your boss if you can and make a clean slate of it. Your boss could possibly speak with his or her boss and maybe work something out where payments are taken out of your check over time. They also have to decide whether it's worth more to keep a trained employee who made a mistake or bring someone else in and start from scratch.
Then you have to work on paying off these loans--and get some more capital to work with ASAP. I would suggest a second job--after closing your checking account and getting a new one. Cashcall is definately no joke (I'm also dealing with them), but it will be better if you get them off your back. In the meantime, we are ALL here for you, OK?

Posted: Wed Apr 16, 2008 7:54 pm Subject:

I hate to be the bearer of some bad news, CashCall is not one company I would want to on my back due to the fact that they can sue you for their money. You may want to see if you can get a loan from a family member or from one of the Peer to Peer companies to pay off the company's credit card. Depending on your family(ie:do you have young children in the house)you may want to get a second job so you can pay the payday lenders something also check with the BBB, FTC, your state attorney general office to see if these lenders are legal in your state. But by all means, please please please pay the credit card off asap. Good Luck and God Bless.

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