I live in Louisiana. I am so confused about the laws. I have been searching and reading and even contacted Commission Braud's office. I have quite a few online, internet payday loans. My husband was hospitalized 3 times this past year and we have over $100,000 in medical debt. Also during this past year my daughter and son-in-law found out their baby had a birth defect and would not live past birth. He was born and lived one hour. During her pregnancy, the bill collectors were calling her, my other daughter, both of their in-laws, etc. To keep peace and help the stress we all were under, I did some stupid things and took out some payday loans to stop the harassment. Now I am in way over my head. After paying all the loans--just interest--not prinicipal--I have between $500 to $600 a month to live on and pay for groceries, utilities, gas, car, etc. I have had to have my cable turned off and looks like the phone and maybe even the car will have to go. I am in a cycle and can't get out. Some of these loans are charging over $250 a month just in interest. The most you are supposed to be able to borrow in Louisiana is $300 but I have loans way more than that and you are not supposed to be able to rollover and that seems like all I am doing. I am not stupid but was in a desperate situation and did not use my brains. Now that everything has calmed down a bit, I researched and know how to handle the debt collectors but just did not have the time or effort to do it when I put myself in this awful mess. Two of these companies are tribally owned, which from what I find is not legal. When I called the office in Baton Rouge, I was told they did not regulate internet payday loans. I asked if I closed my bank account, what would happen. She said they could sue. I do not mind paying back what I borrowed but with all the interest I have already paid, I have done that 3 fold. How do I put an end to this cycle and get back on my feet? Can anyone help? Thanks.
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