Bills not getting paid because of payday loans
Date: Mon, 11/07/2011 - 10:27
I'm new. And stupid. Made the payday loan mistake, and I'm paying for it big time now. Very depressing.
Anyway, I live in Ohio. All of my payday loans are legal. I've already checked into that.
I have them through:
Payday one: around $650 (after fees)- payments around $150 biweekly
Cashenet: around $1300 (after fees)-payments $150 biweekly
Check n' Go: Around $1100 (after fees).-payments around $200 biweekly
I have already closed my bank account after paying way too many extension fees. I have defaulted on my loans, therefore I have set up payment plans on all of these. I've been making the last couple of payments, but it's draining me and my family. I have a two year old son. Our water was shut off last week. I can't afford to pay rent/bills on time and pay all of these loans. All because of these stupid loans.
I don't know what to do. I realize it is my fault for taking out these loans, but I feel like I'm drowning. I intend to pay them back every penny, but I just cannot keep up with these payments.
Any advice would be VERY much appreciated.
Thank you.
My advice, frankly, stop paying them. You've already default
My advice, frankly, stop paying them.
You've already defaulted. Call them up and explain your situation. Ask if they can put you on a payment plan where you can pay monthly. If they'll work with you, you can alternate your payments so you're paying 2 smaller ones one payday and the other one the other payday (so it's not hitting you all at once).
If they won't work with you, let them send it to collections. Period. Your house/utilities/car payment, etc. is more important.
Once it goes to collections, you can set up a payment arrangement with the CA. In the mean time you can catch up on your bills and relieve a little stress. Set some money aside, as you can, while waiting for the 3rd party collectors to call and, hopefully, once they do call, you can work out a settlement or other payoff arrangement.