Internet's first get-out-of-debt community - 134,000 members

Posted: Sat Sep 08, 2007 6:38 pm

I live in Texas, and I have about 8 payday loans out that are taking every penny of my paycheck every two weeks. I'm behind on all my bills and have received cut off notices for some of my utilities. I've almost lost my house to foreclosure twice. This is a nightmare. It started about 6 months ago when my boyfriend lost his job and his truck got repoed, so he had no transportation to find a job so he's been without work for the last 6 months until just a couple of weeks ago when he finally found work. But, I couldn't support both of us on my less than a $1000 a month so I took out a payday loan, then another to pay that one, then another to pay the 2nd one, and so on till it got out of hand. It's all making me so depressed all the time because I see no relief and have lost all hope of ever having a normal life again. I have no friends or family to turn to for help or to talk to so I keep it all bottled up and am ready to break down. My two chihuahuas are the only things in my life that keep me sane cause I know they love me no matter what wrong I've done and know I need to be here for them because they need me. I'm sorry I didn't mean to give you a sob story, I guess I just need to vent to someone and I'm sitting here crying as I write this because it's making me realize how out of control my life is because I'm having to roll up pennies so I can go to the dollar store and buy my dogs some food. I had to close my bank acct. because someone,(that has nothing to do with any of this) hit my acct. with an unauthorized charge and I was afraid there would be more and I didn't want to go thru the hassle of being tied up with all that crap because I've been thru it before, so I just closed my acct. Now I'm afraid that I'll get in trouble with theft by check when I can't pay these loans and they hit the bank and my bank returns them. I don't know what to do!!!!!!!!!!

Posted: Sat Sep 08, 2007 7:47 pm

First, take a breath and calm down.

Payday lenders cannot have you arrested for "theft by check"...that's a threat they like to throw around.

If you can take a moment to list the following information for us, we can help you out of the neverending cycle of payday lending:

-state you live in (Texas, right?)
-names of the payday lenders you are dealing with
-whether each lender is a storefront or internet lender
-how much you borrowed from each one (no fees or interest included)
-how much you have repaid to each one (everything you have paid, including interest and fees)

Armed with this information, we can give you some solid advice, based on your state payday lending law, to help you get out of this.

Posted: Mon Sep 10, 2007 6:42 am

Also, if you still have the contracts, please look on the contracts to see if any of the lenders are acting as CSO's, or Credit Service Organizations. They follow different laws then normal pdl's . . ..

Posted: Mon Sep 10, 2007 6:53 am

Wow, you really hit home on your story. I was in your situation last Dec. when I got a call that scared the crap outta me and I was looking for my rights. Then I found this place. Well all I can say is you came to the right place. They helped me get my paychecks back and I am less stressed and found a wonderful bank ontop of all that. So gather all your info that was requested, post it and we can walk you through the steps to get out of the payday loan cycle. Now just remember it took you awhile to get into this situation, It will take some fighting and some time to get out of this situation. But with the group here you can vent, cry or whatever you need and we will be here to support you all the way Smile

Posted: Mon Sep 10, 2007 6:54 am

Everyone on this site is very supportive. I have been in your shoes just recently. I am starting to get back on my feet, but when I first came to this site I was feeling completely hopeless. Thanks to Cannr and Goudah and EVERYONE ELSE on this site I felt better about my situation and had hope again. It does not get better immediately you are still going to have some tight weeks ahead while you are working your way out of this cycle, but you will feel much better because you know you are working your way into a better situation.

Posted: Mon Sep 10, 2007 7:02 am

Lotta, Please stay with us, and post the info that Sue asked for. We have been where you are, and there is a way out of your mess. Hang in there and be strong, we can help.

Posted: Mon Sep 10, 2007 11:41 am

Lotta - stay strong - these wonderful people came to my rescue also. I am on the verge of getting mine cleared up. I only had two of them - but to my surprise they are illegal in my state. Post your info and they can assist you like they did me.

They wonderful people!!!!!!!

Posted: Mon Sep 10, 2007 11:49 am

Lotta. It's going to be fine. I was in the pdl cycle just a few months ago. It was AMAZING how good it felt to take back control of my hard earned money. You CAN and WILL get back in control. It started the second you reached out for help. We are all here for you. Smile

jeff507 · Posted: Mon Sep 10, 2007 12:06 pm

I have some advise as I am in a bad situation currently, I have 11 payday loans and am paying $2,200.00 a month in interest - which has really finally caught up with me. Usual mortgage falling behind, car payment etc. . . I finally said enough - and decided to do something about it - I was not going to keep paying the interest (going on for years - not at this amount but quite high) - So I first contacted the loan co's who are CFSA members - they offer a program that allows you to pay down the loan balance over 4 paychecks - stopping the interest charges. So the remaining co's I called also and told them I just can't go on - just paying the interest anymore and would like to work something out - 99 percent of them allowed me to do the 3 or 4 payment plan stopping the interest charges. It's worth the call! they are more understanding than you may think.

Posted: Mon Sep 10, 2007 12:13 pm

jeff, I'm am really glad you had good luck and posted your experience. It will help others. It's just too bad that not all companies are like this. There are "main ones" that are horrible. There are companies that continue to use illegal tactics. There are companies that harrass. If they were all easy to work with, we probably wouldn't have to have a forum like this. That would be nice. I'm glad you had good luck. And I'm glad you posted. It gives hope to others. Very Happy

Posted: Mon Sep 10, 2007 12:18 pm

Alright, who scared 'lotta' off? Was it me? Very Happy

Posted: Mon Sep 10, 2007 12:20 pm

NAH, It was probably me.

Posted: Mon Sep 10, 2007 1:13 pm

Actually, I'm getting paranoid. I think I'm scaring people off! lotta, less, grd.... etc. I'm getting a complex here. Shocked

Posted: Mon Sep 10, 2007 1:21 pm

Ok kids, I confess. It was me who scared Lotta off, It was me who took 49.95 out of yiur account, and it was me that pretended I was a Nigerian trying to steal your money

Posted: Mon Sep 10, 2007 1:21 pm

You did not scare me off. You were the first to jump in and help me. I will be eternally grateful to you Cannr. I juist wish I had found this site and all of you before I got inot trouble.

Posted: Mon Sep 10, 2007 1:22 pm

pyb, now that you're here, you won't be alone! That's always good to know! Very Happy

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