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 Posted: Fri Jun 22, 2007 10:23 pm Subject: My sister in deep financial trouble with installment loans |
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I am writing this in regards to my sister; she is in deep financial trouble with installment loans; she has several and although she is currently making the payments on them all, she has not been able to pay them off, and it is cutting into her living expenses; she has three children and no help from their father which is how she incurred the expense; she is currently in over her head and needs information bad, I was told that she should try to go through debt consolidation and that would help, one reputable debt consolidation company told us they don't consolidate payday or installment loans; they stated they didn't think anyone did; my question is are they telling the truth and if not where does she began to look, because the situation is becoming unbearable and she was contemplating bankruptcy for awhile, but I was able to convince her not to do it, please if anyone has any clear and concise info on installment loan consolidation please feel free to give us your words of wisdom or the road out of financial ruin
signed,
S.O.S
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LaTonya Rhodes
Guest
Debtcc Points: 100
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| Posted: Sat Jun 23, 2007 11:54 am Subject: |
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Hi LaTonya
There are so many here that are having the similar problems with payday loans. Sit with your sister and ask her to discuss her situation with the community here. The informed members will be able to offer their suggestions and help her to deal with the lenders. Everything will be ok for her. What companies is she dealing with?
Your sister can also register here for the counseling from one of the debt expert in her area. There are few companies that deal with payday loans. She needs to talk to a counselor referred by this website and know her options.
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onelamb
Joined: 25 Jul 2006
Posts: 436
Debtcc Points: 2736
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| Posted: Sat Jun 23, 2007 12:19 pm Subject: |
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Hi, welcome.
Onelamb is absolutely right. Please convince your sister to join us here..So many people here have fought the payday loan war and won. She can too.
It's important that she knows exactly where she stands..Have her make a list of all of her companies and what she's paid so far, and how much the original loan was for. Nothing here is going to shock us. Once the community has that info and we know what state she's in, a lot of people here will be able to help out with some great advice.
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"It's a treat, being a long-distance runner...."
Allan Sillitoe, The Loneliness Of A Long-Distance Runner
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finsfan13
Moderator
Joined: 17 Feb 2006
Posts: 7021
Debtcc Points: 59875
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| Posted: Sat Jun 23, 2007 12:28 pm Subject: |
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To keep you motivated, read the success stories forum and know how others having these pdl issues came out of the mess. You are one of us and you will also see light at the other end 
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Bridget
Joined: 03 Mar 2006
Posts: 351
Debtcc Points: 4963
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| Posted: Sat Jun 23, 2007 4:11 pm Subject: debt |
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Everyone here is right. There are ways out. At the time you think there isnt but there are so many people on here that have benefited from this site. Pretty Amazing I think. Kyside38
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KYSIDE38
Joined: 19 Jun 2006
Posts: 2502
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| Posted: Sat Jun 23, 2007 4:13 pm Subject: |
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Not to mention that Kyside is a GENIUS! Girl, you know your stuff when it comes to fighting these thieves.
_________________
"It's a treat, being a long-distance runner...."
Allan Sillitoe, The Loneliness Of A Long-Distance Runner
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finsfan13
Moderator
Joined: 17 Feb 2006
Posts: 7021
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| Posted: Sat Jun 23, 2007 4:26 pm Subject: |
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This is one big family and we all are here to keep you with us. Come, join here. You and your sister will feel better
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a_neblat
Joined: 10 Aug 2006
Posts: 408
Debtcc Points: 5814
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| Posted: Sun Jun 24, 2007 12:06 am Subject: |
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She should definately join us, if just for the support. She can also do research and see who does consolidate payday loans, because there are several companies that do, and imho, there are going to be more as the word gets out. She can decide which is the best one for her to go with.
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kscornell
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AnthonyLemons
Debt Samaritan
Joined: 17 Feb 2007
Posts: 1825
Debtcc Points: 18434
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| Posted: Sun Jun 24, 2007 10:31 am Subject: |
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Anthony is right, there is a huge difference between internet and storefront payday loans. Storefront payday loan companies are licensed, where as majority, with the exception of one, CashNetUSA, are not licensed. And I know of two companies that will take consumers with payday loan debt, even the internet payday loans. There is hope to get out of this cycle.
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WHEREAMI
Joined: 26 Aug 2006
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