I have a terrific job with a University. The benefits are tremendous, and being that it is not easy to be employed there, employees that are able to be hired there stay for decades. I intend to stay until I retire.
My roommate moved out suddenly. I knew he was planning on finding his own place, but he moved out three months earlier than expected, stiffing our landlord. I had just purchased a computer for cash, and planned to recover in the three months he would still be here, sharing expenses. Had I not been out the $450 for the computer, I would have been fine. On paper, me paying rent alone works, provided I'm caught up. I took out a payday loan for groceries after paying rent. One month later I paid rent and was short (appx. $400 for groceries, etc.) You know the story, took out another loan, forgot to extend the paydate - they took out the whole amount from my paycheck unexpectedly, which left me with bank charges. I took out another loan to cover that - which created another domino affect. I currently have four payday loans. Two are allowing me to pay minimal payments until I can fully pay them off (each is $360 with interest) and are currently debiting me $35-50. One says they will work with me, but keep debiting larger amounts. I will contact them and ask them to take out only $50 per pay period until I am caught up on my rent. One will debit $100. I had to put stop payments when they woudln't work with me so I could give my landlord something.
The juggling act has been an extremely stressful nightmare. I currently owe - $$650, $360, $360, and $460. I would like to find a consolidation loan that would take these bills plus $900 for rent and utilities for one month to catch up. I am in collections which has lowered an already low credit score to under 500. I am in payday loan hell.
My landlord is a tremendous person, but cannot afford to let me float. If I were able to get a loan for $2500, payable at $175 a month, I would be able to live the life that was tight, but doable. The situation has become urgent, and I am unable to consolidate these loans. What can I do?
By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.