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I’m a Minimum Wage Single Mother of Two Caring for Disabled Parents and Trapped in Payday Loans. – Noname


“Dear Steve,

It started like this, i had gotten three payday loans all at once of the amount each being $200, for a really urgent matter. I had a death in the family, and we where having a bad time paying for funeral costs.

This is my first time applying for loans, so I didnt know really what to do, or hew to go too. As time came up for to back the loans, had to ask for new loans to try to pay off these ones, so that went on more and more, next thing you know, I had a total of 11 payday loans. interest rate is so high, Im having a really hard time paying thses loans off, Im a single mother of two, yes I do work but only make minimum wage.

I tried asking for extentions, and nothing. They’ve overdraft my checking acount with wells fargo by leaving me in $2,000 in debt. I had to put a freeze to my account. Im about, you can say in a $4,000- $5,000 debt. Im really stressing out, theres no way I can pay these off, being a single mother of two, and also supporting both my parents that are disabled. The only way I know I can probably be able to do is pull out one loan (enough to pay all my debts), and just make a one monthly payment on that one loan! Ive tried debt settlement pretty much everything, I dont see any improvement. I just have so many bills right now!

What should I do? And if you think pulling out a new loan to cover all my debts, hew should I go to, having bad credit? Will all these affect me by getting my car taken away?


Dear Noname,

Just this morning I was talking about that it is not the size of the debt that dictates the most appropriate solution. And your situation is another good example of that.

See also  Payday Loans and Cash Advances

You appear to be so buried in debt, and with your obligations, I think it is probably unreasonable to protect your car and get out from under this payday mountain of debt, without bankruptcy. You may qualify for free help to file bankruptcy because of your income. Please contact one of the offices in your state that offer Pro-Bono Bankruptcy assistance.

Bankruptcy will probably be able to let you keep your car as long as you are current or nearly current on payments.

With your current income and current credit history, anyone that says they will give you a loan will just be ripping you off.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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