Need a PDL, please help...

Any advice? Dont do it. With these economic times, everyone is willing to work with you on debts.

My problem is not regular debt, it is utility bills and rent. My hours have been cut so bad that I won't even be able to pay my full rent with this coming check. So I'm going to go half rent, electricity, water and I'll need money for food. I have a wife and 4 kids that need to be taken care of. I'm desperate and feel like I may flounder around and really mess something up.

You take a PDL, you will be more desperate 2 weeks from now than you are now. Talk to your landlord and the utility companies.

I agree if you take a pdl now you'll be more desperate in 2 weeks. Especially if your hours are cut and you can't make your bills now how are you going to pay your bills PLUS a pdl in 2 weeks?

Call your utilities they will work with you.

California law isn't bad as PDL's go. Limitations on refinances, no criminal charges if the check bounces and a limitation on interest. I don't recommend them, but if you have to do it at least you were smart to look for a licensed store in your state. It's like living in the city I guess. The subway and bus are cheaper, but sometimes you have to take a taxi . . .

Please seek another alternative. That $300 will cost you more than you bargained for if you cannot pay it right back within 2 weeks :?

Well here's the skinny.

Monday(tomorrow) I will get a check for ~900.00 depending on taxes etc. I will put 600.00 to rent(half of 1200.00 and yes I'm looking for something cheaper), 130 will go to my electric bill and 100 will go to my sewer,water garbage...and barely cover them. That will put my gas past due as of Wednesday.

That leaves me with 70 dollars for food and gas for 2 weeks. In 2 weeks I will get paid more because I am putting some vacation PIL(pay in lieu) on top of my hourly pay, which will come to roughly 1300 dollars after taxes etc. I will then be able to pay the PDL, the rest of my rent and gas bill. Leaving me a few hundred. . .I hope.

How does that sound?

It doesn't matter what any of us say. No one on this board is going to say, "Great idea. Go get a pdl." But you are the only one who really knows:

1) Can you afford to pay it back in two weeks?
2) Have you really considered and explored all of your options, i.e., loans from friends and family, cash advance from a credit card, ramen noodles, etc.
3) Do you have the discipline to make a plan to pay it back and stick to it?

If you can honestly ask yourself those questions and are satisfied with the answer you get from your gut (which is ALWAYS the best barometer) then it really doesn't matter whether we approve or not.

Thank you for that. I have exhausted all my options, these days everyone I know is pretty hard off too. I'm pretty sure I can pay it off in 2 weeks, and we are all out of ramen now...

thanks for the responses you guys. I'll be sure and keep you all bookmarked for future reference and help if I get in trouble(which I feel I won't).

Please do not take out the loan. I also was sure I could pay mine back, but I wound up taking out another just to pay back the first one. All of the people on these boards have done pretty much the same. I (who was sure ) I could pay back wound up with 8 loans, no money and real problems. Please do not do it

Yeah, we are pretty much anti-PDL here. You'd be better off panhandling!

Payday Loans Equal Very Costly Cash: Consumers Urged to Consider the Alternatives.

I find it curious that you would ask on a Board dedicated to helping people get *out* of debt, how to get into even *more* debt.

The problem with a PDL is it's kind of like crack. You get one hit, and then you'll need another to pay that one, and another to pay that one, soon you'll be handing over your paychecks and still getting nowhere....

i agree with everyone here -you said your paycheck is $900 and it leaves you $70? if that is the case, than why even look for a payday loan? $70 is not too bad for food and gas. you will be amazed at how cheaply you can buy stuff while on a budget.

You could aslo try contacting local organizations that offer emergency help for utilities, food, ect.

70.00 for food and gas for 2 weeks for a family of 6 ?????

Good advice on this post - PDL's are a major trap. My dad fell into that trap - he got one and thought he could pay it back I'm sure. But he couldn't and had to get another to pay that one and so on. When he passed away, my mom's paycheck went in the bank like 3 days later - she went to make a withdrawl only to find it at a negative balance b/c he owed so much -- he had more that 15 loans. It was a mess to say the least.

I know $70 is not a lot for a family of 6, especially in CA. Keep in mind like others have suggessted, you can talk to your utilites see if they will let you delay all or part of your payments for the 2 weeks to free up some more money. Can you carpool to save on gas? Or reduce how much you go out at all - I know work is a must, but for other things try to avoid it, or use public transportation.

For food, like other said - noodles are cheap, look for things like that & coupons. Lots of food banks and churches or other ogranizations can help out with food for 2 weeks.

Do you have anything you can sell for some extra $ quickly - or is there neighboors who may need their lawn mowed where you can make some extra cash fast? Even donating plasma - I think that pays around $35 or so... their are other options out there.

I would strongly encourage you to look at everything else possible than to get a PDL -- if you can just hang on for 2 weeks like you said, you will be okay. If you get the PDL you are most likley getting into an ugly trap that is impossible to escape from and will just create worse money problems.

Best of luck with whatever you decide.

I hope the OP makes the best decision possible. No matter what OP decides we will be here to support them and offer advice in the end. Best of Luck buddy :wink:

Well guys, I got the PDL (don't be mad). The max in CA is 255, repayment will be 300 (got it in writing and got the manager to hand write an affidavit stating that I will pay no more than 300 via a post dated check).

I did look into food assistance, and it takes too long since we are low already; most places are low on food to give or are now going by a list of people who have 0 income. My utilities; only PGnE will work with me(gas, lowest bill) and the electric said they only help low income people who are receiving state assistance. Which, for some reason, I make 200.00 too much to get(even though I have been running out of money every 1.5 weeks scraping by up to getting paid). I don't have enough to sell and I am anemic so no one will take my blood or parts of my blood. My family is just about in the same situation as I am with money, so I couldn't possibly ask them for help. What I'm saying here is that i'm no slouch and I've gone everywhere else besides the PDL place.

I really to appreciate all of the advice and the concern you are showing. I am lining up some other things for the next 2 weeks so I won't ever have to resort to this kind of thing again. I will be sure and let you all know how it goes.

Well I hope it works out for you. Best of Luck!

good luck, let us know how everything works out.

Agreed - best of luck! Hope everything works out and improves for you and your family!

Are you affiliated with any organized religion? I've heard that some churches will assist members with food, etc., in return for that person doing volunteer work for the church. Might be one way to help you out, at least temporarily. Or are there any food banks, public utility assistance groups, etc., in your area where you could get help? Best of luck to you.

Well good news guys! I went to the bank today to talk to someone and I found out that I have 'Direct Deposit Advance'. Which means I can take up to half of my credit limit out in advance of a payday direct deposit at a fee of 2.00 per 20.00 that I advance. I promptly went in to the PDL store and gave them back their 255.00 and I knew there was no cooling off period but the manager I talked to before was there and took it back. They gave me my post dated check and I have in writing that I owe them nothing and

I am so happy that I found this out. Thanks again you guys for your support :)

Excellent! Yes, you usually have 3 days to cancel any contract.

Yes this is a MAJOR SUCCESS story. I am happy you had another alternative. Best Wishes :P

Great news! :)

great news! i am so happy there was another way :)

This is great news!!! I'm very glad for you!!