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How can I get my credit together, I am in debt to my credit union five payday loan establishments and the noose is tightening quickly I work full time and attend school full time, I know how stupid this whole thing sounds so please no negative remarks I am already freaked out enough. I want to get this straightened out legally and forever. I am in dire straits please some one help me i am desperate.

2006-10-15 03:30:50 · 6 answers · asked by my_own_ish 1 in Business & Finance Personal Finance

6 answers

You have 5 kids so your education wasn't a priority before. Put your school on hold till you pay down your debt. Look for a part time job and pay these bills off. Once this is done you can resume your education.

2006-10-15 04:29:49 · answer #1 · answered by Grandpa Shark 7 · 0 0

Well, you're in deep, which you already know. I'm assuming that you got in debt buying necessities for yourself and your kids, not luxuries. If you're both working full time and going to school full time, plus being mom to five kids, you're carrying a very heavy load.

Payday loans are a real bad answer, as you know, but sometimes it's hard to see a choice. But they just dig you into a deeper hole. Do you have any family that might help you out a little? Do you get child support? Is it possible that could be increased?

I'm not a fan of bankrupcy, since it messes up your credit for a long time, but it might be the only reasonable answer. A second job probably isn't practical at this point.

Are any of your kids old enough to help out some with part-time ?jobs?

Good luck. You're in a tough situation. If you're going to school for something that has good prospects for available jobs and better income, and you're close to finishing, then stick with it - otherwise you might have to consider putting school on hold for now or dropping to part time, and trying to pick up a part-time job to at least get out from under the payday loans with their super-high interest. Be realistic - if what you're in school for doesn't really have a lot of jobs available, then you might need to change to another area.

Good luck!

2006-10-15 11:25:51 · answer #2 · answered by Judy 7 · 0 0

It's a positive thing that you belong to a credit union, but the payday loan places are a disaster. Perhaps your credit union will extend you a loan large enough to immediately pay off the payday loan places. . . and of course steer clear of them from now on!!! Then maybe you can negotiate a payment plan that will combine your (now 2) credit union loans so that you can slowly get them paid off. Hate to say it, but substituting a second part-time job, etc. for schooling is probably a priority right now. The other alternative, as someone noted, is to declare bankruptcy; it's not the end of the world! Best wishes.

2006-10-15 06:07:26 · answer #3 · answered by worldinspector 5 · 0 0

It is ruff in the world any more. You should probably stop going to pay day loans, if you don't have the money don't spend it.? if that is the case, but these pay day loan places really stick it to you! You can go to the Government for help. Don't fell like this is wrong for you to do. These programs have been set up for people who work hard and are trying to do right! It is a shame though people have to take advantage of it. And last but not the least. Pray to the lord Jesus to help you, and be sure to be great-full for the children you have.

2006-10-15 03:47:24 · answer #4 · answered by dr.zoomzoom 2 · 0 0

The "commit suicide" person needs their @SS kicked!!
What you need to do is gather ALL your bills-Credit cards, car loan, bank loans, mortgage, student loans, etc. Then find a good bankruptcy lawyer. It sounds like it's too late for anything else.
Do NOT call 1 of those "get the creditors to stop calling & reduce your debt" Scams! There is nothing they can do that you can't do yourself and you won't have to pay them!

2006-10-15 03:50:03 · answer #5 · answered by grrl 7 · 0 0

Call your Credit Union and try to negotiate a plan of repayment with them. If you make an effort to repay them what ever you can they will probably work with you. It's when you ignore them that they think you don't plan on making an effort and have no choice but to contact the collection agencies. It will take time but, but it's not impossible. Good luck.

2006-10-15 03:44:48 · answer #6 · answered by angryirishman 2 · 0 0

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