I have 10 payday loans and live in CT

Date: Sun, 02/08/2009 - 00:36

Submitted by mzbeonita1
on Sun, 02/08/2009 - 00:36

Posts: 9 Credits: [Donate]

Total Replies: 22

I have been up for countless nights researching some answers and came across this website and it appears to be very helpful to everyone else so here I am. looking for some direction. A drunk driver totalled my car while is was parked. The insurance company paid off my car (minus $700) I was left to go out and start from scratch trying to get a car with no money. This is where my borrowing began, initially to cover a rental car to go back and forth to work and get my son to all of his games etc. As many of you I started with one then two then another to cover the fee's they took out that made my paycheck short on another bill then the next check another to cover the fee's on the previous 3 loans and still pay the rent and new car payment and it continued from there. Christmas came and went at my house. my son was quite sad but had to understand the roof over our heads and food on the table was more important. now we are at the point of not having a roof. I have not seen 1 cent of any paycheck since 2009 started. no car payment has been made (jan or Feb) no rent has been paid (jan or Feb) I can't continue like this but something has got to give here. I dont want to end up with any more negative items on my credit report (as I have been working towards cleaning that up for the last 2 years to be in a position to purchase a house for my son :)) I have been doing some reading and I don't know whether to put my bank account on For Deposit Only status or close it out completely. the bank has already informed me that I will have to bring my account current (out of the negative) in order to close it. I have 2 other accounts already open at that same bank that I have rarely used, if I should decide to close the one the payday lenders are effecting. I also have one more open at another bank all together. So I am not concerned about not being able to get another account. What should I do to begin this process?

I have the following loans currently:
7/10/09 500fastcash borrowed $300 paid back $975 (in full)
10/10/08 Centurion/loanpoint USA (I think) borrowed $500 thus far have paid back $1200 (and they continue to debit $150 each paycheck)
10/17/08 CityviewCash borrowed $300 thus far have paid back $635
10/30/08 Webpayday borrowed $500 thus far paid back $1080
11/3 CMG borrowed $300 thus far have paid back $660
11/5/08 PaydayLoanYes borrowed $350, on 11/21 payday they debited $175, $175, and $30 total $380 (have no clue what that was about but was quite hostile when I called and of course there is nothing they can do)
11/25/08 First West coast/Atlas money online (I think) borrowed $350 thus far have paid back $420
11/25/08 MTE Financial borrowed $300 thus far paid back $450
11/26/08 Ameriloan borrowed $300 thus far have paid back $390
12/3/08 Avantis Financial borrowed $300 thus far have paid back $442.80 (the way they figure out the finance charge is quite odd and come out with change ?!?)
12/13/08 Sagemore borrowed $300 thus far have paid back $300 and counting(what do ya know!)
12/15/08 500Fastcash (yes another one. the first one was overly paid in full) borrowed $350 thus far have paid back $315

That is where I stand at this very moment. between all these fee and the back NSF fees for my auto debit bills that continue to bounce I have not seen one nickel in 2009. I am thankful for friends who will give gas money. I stopped my direct deposit for next week so some how some way I will have some money to start paying what I owe because now the light company could care less what my issues are and have threatened to cut me off (I dont qualify for any assistance they say!!) My rent is past due I am on my second past due on my car, don't want my insurance to cancel and my phone has already been shut off. I am so frustrated but trying to hold on and keep the faith that there is a light at the end of this dark road. This was a very expensive lesson to learn. I will say say that payday loans can work when you are in a pinch and you have one or two, but beyond that you run into the cycle of having to get more and more to cover the fee's and still maintain your bills and more. then it gets really ugly when you have to explain to your child why there is no more cereal or milk and "No we cant go to mcdonalds, we need this money to put gas in the car". I just feel so overwhelmed at this point. I pray someone out there has some news that will put a smile on my face and help me sleep at night again.....Anyone? lol

Internet Payday Loans are prohibited in CT. Here is your state

Internet Payday Loans are prohibited in CT. Here is your state information.

http://www.paydayloaninfo.org/state_detail.cfm?id=CT