Internet's first get-out-of-debt community - 140,000 members

I know you are probably tired of hearing about payday loans, but here goes.
I currently have 4 payday loans out, but I am only paying the extension fee and each pay period that fee is shortened by 5 dollars. I am in the process of losing my job and I won't be able to pay the loans back. What should I do?

Posted: Mon Jul 30, 2007 11:58 am Subject:

You have come to the right place for help! And no, we are not tired of hearing about payday loans! A lot of us have been in the same boat, and are more than happy to help someone get out of the predicament. Knowledge is power!

Can you tell us what state you are in?
Are these storefronts or internet lenders? What are the names?
How much did you take out and how much have you paid back so far?

This isn't to pry, but to understand what situation you are in, so we can give you the best advice for your situation! Smile

Posted: Mon Jul 30, 2007 12:26 pm Subject:

Fortunately you only have four. I have seen people with sixteen. No we are not tired of hearing about them as Josh Tree says. Also as requested please provide that info. It will help us determine how much you legally owe. Sorry to hear you are losing your job>

Posted: Mon Jul 30, 2007 1:02 pm Subject:

Oh, so sorry to hear that you are loosing your job! Hope it won't take you long to find another one. Start looking now before you loose your current job.

As has been stated, so many of us have had payday loans and some still do. I had 6. You can come out of this. Just provide the information that was asked for and we can see what we can do to point you in the right direction. Hang in there.

Posted: Mon Jul 30, 2007 1:48 pm Subject:

Sorry to hear about your job loss Sad

Is it very difficult to find employment where you are?

PDL's are why we are all here! I had 9 when I started and I am making it through. You will too.

Posted: Mon Jul 30, 2007 1:58 pm Subject:

You are at the right place for support. Don't be shy. Just get the info together and we will try to aim you in the right direction. Good luck.

Posted: Mon Jul 30, 2007 2:00 pm Subject:

Hi,
Wish you the all the best. Just follow the advise given here, come back and read, and keep plugging away. It will work out.
You said you losing your job because of the PDL's??

Posted: Mon Jul 30, 2007 2:12 pm Subject:

Did you say you were losing your job because of payday loans?

Posted: Mon Jul 30, 2007 3:50 pm Subject: cpattison

cpattison, you're losing your job BECAUSE of pdl's? Or you're just losing your job and can't pay the pdl's back? Either way, I'm sorry to hear that you're going to be unemployed. I also noticed on your post that the pdl takes out "fees" and it goes down by like $5 each time? Is this pdl Cash2Day4U? Or another pdl? Please post what pdl it is (or if there is more than one), how much you borrowed (principle only) and how much you've paid. Also, please post what state you're in. We can help you!

Posted: Mon Jul 30, 2007 5:00 pm Subject:

Could be GFSIL too...that's how they debited me...

Listen to everyone here...give us more info and we will help you..

Posted: Mon Jul 30, 2007 6:58 pm Subject: sonic

Could be Sonic, GFSIL, Cash2Day4U, could be any one of the MANY. I'm thinking it's one of the illegal overseas ones. They're the ones that have a tendency to work it that way.

Posted: Mon Jul 30, 2007 7:26 pm Subject:

They sure are the ones that work like that. I've never heard of any of the US ones working like that, but who knows. And they make it sound like it's going to continue to go down until paid off, NOT THE CASE!
Please post the needed information so you can be guided in the right direction to get rid of these bloodsuckers!

Posted: Mon Jul 30, 2007 7:48 pm Subject:

No it doesn't pay it off...on my loan from GFSIL...I borrowed $300.They started debiting $80. and every 2 weeks it went down $5.00 dollars till it got to $35. then it stayed at $35. every 2 weeks until I would tell them I wanted to pay it off...I paid about $610. and they said none of it went to the principle...

Posted: Mon Jul 30, 2007 7:51 pm Subject:

Yeah, that is just like mine, I got to $40 and it stayed that way..I had paid over $500 on a $200 loan. On top of that they wanted 270 to pay off, where does the $70 come from if I am paying $40 in rollover? An extra $30 to pay off just for the hell of it?

Posted: Mon Jul 30, 2007 8:02 pm Subject:

maybe the $30. was the returned check fee from when they couldn't get the money from the bank?? Not that it matters...we have already paid them more than we should have.... Smile

Posted: Mon Jul 30, 2007 8:07 pm Subject:

If I had defaulted, maybe. But I never did.
It's actually kind of funny, I never missed a payment and then on July 8 I emailed the info(at)cash2day4u.com as well as aarong(at)heathmill.com and LOW AND BEHOLD, on the 13th my debit disappeared. I was wondering if it was a freak accident, but, then on the 27th, NO DEBIT!!! it worked, my email to the president or co-owner or whoever the heck he is, ACTUALLY WORKED!!!

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