Im trapped in $2000 payday loans takes all my income $900 every 2 weeks .IS there is any high interest 6 month loan to help me pay the pay day loan? i dont care how much high the interest will be on this loan, as i couldnt get any help from any credit union banks, or any other banks, or friends or family.please help me if you can loan me the moeny with any interest rate
2007-12-27 02:25:26 · 6 answers · asked by real 1 in Business & Finance ➔ Personal Finance
Why would you want to get another loan to pay off your $2,000 payday loan? If you do this, your going to end up in the same place your in now and thats debt. The best thing to do is call the company you got the payday advance loan from and work out a reasonable amount to payback on a weekly or bi-weekly basis.
2007-12-27 02:30:06 · answer #1 · answered by TNA Ambassador 6 · 2⤊ 0⤋
If this is the only loan you are having difficulty with, do not declare bankruptcy. It would probably be thrown out anyway, and you would still have a record of the filing on your credit report. Contact a finance company like American General HSBC and see if they will give you a loan with more reasonable terms. Pay it off as fast as you can, and then do whatever you can to save some money for emergencies, so that you don't find yourself in this position again.
Why these payday loan companies are allowed to operate, I'll never know. You'd be better off borrower money from a loan shark on a corner.
2007-12-27 02:38:56 · answer #2 · answered by sarah jane 7 · 0⤊ 0⤋
what you are doing is re-borrowing & extending the term everytime you do it. I would not recomend taking out a high interest loan to pay a high interest loan. I know you feel trapped, but you need to adjust for a little while & get this under control.
The next time you renew the loan, do not borrow the full amount back! Take $100 less each time so that you will not end up having to sell off your organs. It will take some time, but you have to gradually get off of it. I know it will hurt for a while as you have things to do, but if you dont you will be trapped like this forever.
2007-12-27 04:12:29 · answer #3 · answered by ricks 5 · 0⤊ 0⤋
You have just learned a valuable lesson. These pay day loans are to keep poor people feeling hopeless. First, you need information, go to www.daveramsey.com.
Next you need to change. You don't get out of debt by re-borrowing money. You pay the lowest bill first while paying the minimum on the rest. When the first is paid off, go to the next lowest. You also need to concede and get a second job to help you out. AND you have to just quit spending on stuff that doesn't matter---like that expensive car payment you have. Loose the car, and get a cheap car you can afford. Good luck.
2007-12-27 03:33:58 · answer #4 · answered by Nifty Bill 7 · 0⤊ 0⤋
That's terrible. The only thing you can do outside of bankruptcy is to pay the loan off. The senate needs to do something about these companies like this. I bet your paying 300 interest or better. My son got caught up in this type of loan and I had to pay the debt off for him. If you are paying $900.00 dollars. then you are in trouble. consider bankruptcy or debt lending officers who help people get their debt off. They have a five thousand dollar limit on debt. but that may be you. Talk to your family about helping you pay off this debt. or pay them more money. Don't stop paying until you get some help with the debt. Small lending offices may also help you.
2007-12-27 02:33:02 · answer #5 · answered by Maxine H 4 · 0⤊ 0⤋
Some of the payday loan companies in the US offer this option. Try ChecknGo, they offer it I know.
2007-12-27 02:28:47 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Stop paying the loan.
2007-12-27 02:51:15 · answer #7 · answered by scandal917 2 · 0⤊ 0⤋
You're going to have to suck it up and get a second job until the loan is paid off.
2016-04-11 03:03:50 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Try prosper.com which is person to person lending exchange.
You might be able to get loan there at a reasonable loan.
2007-12-27 02:58:14 · answer #9 · answered by Justin 2 · 0⤊ 0⤋
wells fargo financial it is not thier bank but a financial loan office and they will charge you 16.248 percent but they will loan money they are all over just have to call and see where there is ine near you
2007-12-27 02:30:23 · answer #10 · answered by Rayha 5 · 0⤊ 0⤋