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All the payments are going to interests only

Date: Wed, 07/25/2007 - 13:38

Submitted by anonymous
on Wed, 07/25/2007 - 13:38

Posts: 202330 Credits: [Donate]

Total Replies: 2


I have made a few stupid decisions and now I find myself having to take out payday loans to pay off the next one. I make a good salary and because of these loans I accumulated I am paying about $700 a month and it is all going to interest. At this rate it will take me forever to get these paid off. I only owe about 2,500 but at this rate I am paying more than that in interest. I am looking to find a way to pay these off and make a monthly payment to get out of debt and live a debt free life.


cpeery ~ please list

Who you have payday loans with
How much did you borrow
How much have you paid back to each one
And if these are internet or store fronts

Also please let us know what state you are in. Some states PDL's are prohibited, some have caps on how much interest they can charge, some do not allow roll overs, some only allow a certain amount of loans at a time, etc.

Understand that there are many of us that have been and some still are in your situation. There is light at the end of the tunnel.

If you are paying that much out in just fees, you might want to consider closing out your bank account and opening another one some place else. You need to get a hold on your finances. Hang in there though and please provide us the information so we can help you better.


lrhall41

Submitted by 2nband on Wed, 07/25/2007 - 15:27

( Posts: 2277 | Credits: )