New...payday loan debt stuggler
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|Sun, 01-06-2013 - 5:52pm|
Hello! Not sure how this works but figured I'd try...maybe help alleviate the stress I've been going through and maybe get a little bit of advice or feedback. A little about me...single bartender/full-time student who has recently found herself in a snowball of debt and headaches. I've accumulated numerous payday advances. Had one....got another to pay the first off...got another to pay the second off...and so on. This has gone on for about a year until I finally got to the point that I couldn't keep going with the cycle and the outstanding fees. (Cycle meaning...pay a loan off, just to take another out - at each company) All of them have gone into default and as a result my bank account is over $1000 overdrawn in fees. (Oh...and to top it off I just got into a car accident where I have a $500 deductible.) I calculated a budget for myself for the entire year to try to figure out how much I could pay to these companies to get the loans paid off. With $50 - $100 a month to each company, I can have all of the loans paid off before the end of the year (including interest) and be able to pay my other bills (i.e. rent, electric/gas, food, gas, car payment, etc.) on time. The only issue...is getting these payday companies to start working with me and stop calling me...AND my family and employer. Has anyone been in this situation?? For example...Checksmart calls me 3 times a day even though I tell them each day (I don't ignore their calls) that I am unable to pay. Their response is they will continue to call until my debt is paid and I have to pay the debt in full before the end of the month. Now I know I borrowed from them so it is my obligation to pay them back...and that is my intention...I'm not running and hiding. Some would say...borrow from family and friends...obviously if I had family and friends that were able to help I wouldn't have taken out the advances at first.
I've spent the last two weeks on the phone with these companies trying to explain my situation and have gotten no where. If big banks can get a bail out, why can't little ol' me get one for 6 months :)
Any feedback (no lectures...believe me I'm beating myself up and learning from my irresponsible actions. I can't talk to my friends and family...they have enough to deal with...plus this is my problem, not theirs.