When my employer was having money problems….my paychecks got cut by 2/3rd. I got myself into major payday cash advance problems. All I make now goes to just the fees…how can I get out of debt with these horrible companies?
If I don’t make my payments to them…will they just go to a collection agency? I can afford to pay $1,000 per month toward a debt with these companies of $7,000. Right now I pay $1700 a month in just interest….will never see an end. HELP
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I am a caring and compassionate soul, but let me be blunt with you here, you’re screwed. You are never going to dig yourself out of this hole unless you’ve got a lot of extra money to pay down this debt.
Go meet with a local bankruptcy attorney, go bankrupt, it will eliminate that debt and then never take out a payday loan for ever again. Friends don’t let friends get payday loans.
There is an appropriate and limited use for payday loans but the industry has not embraced responsibility to limit abuses by payday loan and cash advance companies. Thus, as far as I’m concerned right now, at this moment, they suck.