Debt Consolidation Forums Debt Problems forums

Overwhelmed by several tribal loans

Date: Thu, 03/02/2017 09:49

Posts: 1
Credits: 0
[Donate]

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.

Add new comment

Total Replies: 4

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.

Sub: #1 posted on Tue, 03/07/2017 - 02:24

Phil Bradford

(Posts: 166 | Credits: )

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.

Sub: #2 posted on Tue, 03/07/2017 - 05:33

Barbara Delinsky

(Posts: 434 | Credits: )

I agree with Phil. Stop paying interests. Tribal loans are not legal and you have already paid so much. I hope they will not bother you in future.

Sub: #3 posted on Wed, 03/08/2017 - 05:20

Sanders Patricia

(Posts: 1239 | Credits: )

Increase your income. And stop borrowing any further. Save first, spend later.

Sub: #4 posted on Thu, 03/23/2017 - 05:04

paulcahill80

(Posts: 2359 | Credits: )