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Overwhelmed by several tribal loans

Date: Thu, 03/02/2017 - 09:49
Submitted by Franklin Miami on Thu, 03/02/2017 - 09:49
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Hello friends, I'm new to this place. I made the dumbass decision of taking out over 8 online tribal loans and although I have done my best, well, as you can imagine, I'm exhausted and broke now just paying the interests alone. I live in Miami, FL and was wondering if you could provide advice on how to best proceed. To put my situation in perspective, I'm paying monthly about $3,000 in interest. Please help.


Basically, tribal loans are illegal in our country. Since you’ve already paid too much, don’t pay a penny from now onward. I guess you have already paid the principal amount. So, don’t bother.


Submitted by Phil Bradford on Tue, 03/07/2017 - 02:24

Phil Bradford

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Hey, in your case..there are certain things you may try further to manage your finances..

Try to create a budget. As you are going into a greater amount of debt, you need to cut back other non-essential expenses. You can also need to come to terms with fixed costs.

Start focusing on your credit score. As soon as you build a good credit score, you can opt for cheaper ways to borrow money and pay off the other existing loans as soon as possible.


Submitted by Barbara Delinsky on Tue, 03/07/2017 - 05:33

Barbara Delinsky

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