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Home > Ask The Get Out of Debt Experts > How do I get out of this payday loan cycle of doom. – Joe

How do I get out of this payday loan cycle of doom. – Joe

I live in CA. I took out 9 payday loans. I have been paying nothing but interest and finance fees. From what I understand, it is illegal to have more than one payday loan out at a time in CA. Does this negate my other 8 current loans? None of my lenders are in CA, they are all out of state. I recently signed up with Relief LLC, before reading your review on this site. I’m sure I could do all that they do on my own if I had just a little bit of legal training.

Basically, my entire paycheck is going to payday lenders fees and my balances aren’t going down. Once I hit the 2000 mark, I decided to do something about it. I closed my checking account to stop all those ACH withdrawals. I actually closed my account because my financial info was leaked to a shady web site that illegally charged me 99 bucks for nothing.

Im confused how a company can give someone money without verifying anything about me. They didn’t ask for pay stubs, proof of employment, anything… how could this type of lending even be llegal.

I plan on paying everyone back, but on my terms. I can’t afford to on their terms, if I could.. I wouldn’t have needed a pay day loan to begin with. I got caught in a deadly cycle and hope to be stress free soon. I fear the constant phone calls, even perhaps to my parents, employer, etc. Any tips on what I can do is greatly appreciated.

Thanks so much.

Joe

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