My History With Payday Loan Companies

Hello All!
My name is Heather. I live in Michigan and work in the Finance department of a very large corporation. You would think that I would be smarter when it comes to money, seeing as I work with it all day long and I have a Bachelors with a major in Accounting.

Anyway, my payday loan history started back in 2000, right before I got married. I felt really low on funds, because of the wedding, and I didn't want anyone to know, because I have always been so independent, so I took out my first payday loan. I kept paying it off and borrowing again for at least a year. I finally paid it off when I started working for a new company and making more money.

I was okay for awhile, and then my son was born in 2003. I was still very independent, but with all of the hospital bills, I took out another payday loan. I did the same thing for about a year and then paid it off. I have never told my husband, because I just dont think he would understand. He has excellent credit and is very good with his money...yes we keep our money separate except for our house bills. Plus, I make almost twice as much as him, so he really wouldn't understand.

Then in 2004 I received a cash advance offer over the internet. At that point I was feeling low on funds again, because of a surgery and hospital bills I had. This is what started the vicious internet payday loan cycle for me. I regret every one that I took out (6 in all). I kept up with them for awhile, but they started to debit more than they were suppose to or debit on the wrong days, so my account went negative. Besides all of the fees my bank was charging me because of these debits, the loan companies were trying to charge me more because of the NSF's.

That's when I decided to close my bank account and let them call me to work out payment arrangements, because they weren't responding to my requests over email or by phone to set-up alternate arrangements.

Then I found THIS GREAT site! I have learned so much from all of you in a very short time. I am currently in the process of consolidating all of my payday loan companies, because of the information and advice I found from all of you. I hope that I can help a lot of people through this site as well!

I will be sure to keep you all posted on my progress!

Thanks for Listening!
Heather =)