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Feel like Im going to die....Pay Day Loan Hell

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Hi I am new to this board and found it in desperation over the weekend. First I am so glad not to be alone. I feel so ashamed and embarrassed and have noone I can talk to or share this with. I am married and a mom of 2 boys, my husband has no ideas of the pay day loan hell that I am in! I have been unemployed for 6 months and that is how the pay day loan hell occurred.
Right before I lost my job I had some unepected expenses and need money fast, I turned to pay day loans. Well it has snowballed out of control because I can not pay my bills so I keep getting new loans to cover the interest to pay my bills. I currrently pay 2,800 in interest and some pay downs and am close to being 30 day lates on my bills and utilities.

First I live in New Jersey and have 10 internet pay day loans

Upfront pay day 400.00 pay 120.00 since December all interest no pay down

Loan Shop 350.00 pay 108 since December all interest no pay down

Little Loan Shoppe 400 pay 175 25 goes to pay down owe 650.00

East Side Lenders 700 pay down 25 per pay owe 600

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I am living in a living hell, and dont know what to do. Closing my checking account is not an option because my husband doesnt know whats going on and he would not forgive or understand this. Please help me!!!!!

I am really sorry to tell you this, but CLOSING YOUR ACCOUNT is your ONLY options, otherwise this will NEVER end. EVER! I can't offer you any other advice, it wouldn't be fair and wouldn't help you in ANY way shape of form. You could go into the bank and ask that they assign your account a different account number, but quite honestly, with the amount of payday lenders you have I'm not so sure the bank would be pleased to do so, and it would still put you at high risk for future withdrawals with the illegal lenders..

Payday loans are prohibited in your state, period, and these lenders KNOW this, but still they extend loans, that is NOT right, and they are nothing more than criminals, remember that, I am sure you wouldn't want a criminal to have access to your account information, so please, it would be in your best interest to close that account, otherwise, this will never end.

Sub: #1 posted on Mon, 06/07/2010 - 08:17

Shazzers Shazzers
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CLICK HERE to find out how to deal with illegal lenders.

Sub: #2 posted on Mon, 06/07/2010 - 08:19

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17344 | Credits: )

Shazz gave great advice (always does!)
Please do not be ashamed or feel so lost. I live in NJ, too and have been through the same struggle. The only way to get your life back is to close your account (and make sure that future ACH will not push it back open).

Sub: #3 posted on Mon, 06/07/2010 - 10:35

bea2ls bea2ls
(Posts: 3840 | Credits: )

You have to close your account. Been in your situation and this is the only way to stop them.

Sub: #4 posted on Thu, 06/10/2010 - 10:08

DorenC DorenC

(Posts: 156 | Credits: )

Ballplayersmom, I tried to just change my account number with my bank but still do business with them; this did NOT work. I banked with my employers credit union and know all of the employees there. I thought everyone knew not to debit my account when a PDL lender tried to take money from my checking, but it happened once and the manager said it was too late to reverse the charges. Needless to say, I had to close my account entirely and start a new account with someone else. Do what you need to with your husband, but honestly you are going to have to change banks. The deductions will continue until the lenders get their money.

Sub: #5 posted on Fri, 06/11/2010 - 21:02

hez hez

(Posts: 72 | Credits: )

I am so sorry what u r going thru. I'm in sorta same situation. I started pdl's for extra christmas money and now I'm trapped. I'm facing closing my account and will have to go talk to my bank and explain.....soooo embarrassed. and my husband has no clue. He doesn't understand why we never have money and he works all this overtime. I DON'T even want to tell him I've wasted it all to pdl's. It really helps to read this forum. I don't feel so alone. Good luck !!

Sub: #6 posted on Fri, 06/11/2010 - 22:10


Sorry to hear about your situation
I have had PDLs with Loan Shope and Ameriloan and called them to settle my account since I just could not afford it anymore - Loan Shoppe closed my account after my call since I paid nearly 3 times the original loan amount - Ameriloan accepted one additional payment and closed my account - Good luck

Sub: #7 posted on Wed, 06/16/2010 - 08:57

Jean Green Jean Green

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