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loan to pay off cash advances

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Chic



Joined: 30 Jul 2008
Chic's page
Posts: 1



43 Magic Points

Subject: loan to pay off cash advances
 
Posted on Wed Sep 24, 2008 11:11 am  

Put your question here ...
Can I get a loan to pay off
5 cash advance @ 575 per loan
to be paid over a 12 to 18 month period and still be able to pay my other bills. House, car, phone, food, etc without going broke every month with the payment?
Thank you for your concern.
Bonnie
goodnatured



Joined: 03 Nov 2007
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Posts: 3931



359 Magic Points

 
Posted on Thu Sep 25, 2008 2:18 am  

Bonnie,

You are not the first one to walk in these shoes, I have been there and feel your pain. You won't find a loan here to help you, but you will find some advice from people who have been there, so to start you will need to give some more information.

1. What state are you from? Each state has there own laws regarding payday loans so that will be the first thing you will need to know. If you post that we can find those laws for you.

2. Are the companies that you have the loans with store front or internet loans?

3. What are the names of the companies? How much did you intially borrow and how much have you paid back so far to each one of them. Please list all this individually.

When I found myself to the point of no return, I found this place. I have to say that once I got a paid in full on the first two, I felt like a I had a little power back in my hands. I hope you will list all this information and that you will stick around long enough to hopefully get some help. I will look for your response.
_________________
Goodnatured,
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fireyone



Joined: 26 Feb 2008
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Posts: 4246



87 Magic Points

 
Posted on Fri Sep 26, 2008 4:15 pm  

Be very wary of pay day lenders. Sometimes it seems as if it is your only route and many do have to go this way. It just drags out the bill nightmare a litttle longer. Do you have any family that could help you? How about a consolidated loan from a bank? There are also other lenders out there like Citi financial.
When my husband and I first met we both had not so good credit and faced your situation. We had to rely on going to Citi for a loan. It was higher interest but it kept us a float and started rfebuilding our credit.
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3931



359 Magic Points

 
Posted on Sat Sep 27, 2008 3:42 am  

As long as you can pay them off on your next pay day they are not that bad, it is when you let them run on and on.
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online
http://www.crazymonkeygold.com/members/register.php?ref=fedupinpa
anthony

anthony

Joined: 31 Jul 2006
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Posts: 516



13586 Magic Points

 
Posted on Sat Sep 27, 2008 4:47 am  

Can you be a little specific as to against which type of loan have you taken a cash advance? Is it against a credit card or any other alternate lines of credit. Mostly cash advances have a much higher rate of interest than a normal line of credit or a credit card purchase and they also do not have any interest free grace period.So I would always suggest you to get first pay off cash advances. However, you should never go for payday loans to pay off cash advances.
_________________
Anthony Marx

A positive attitude is not achieved by turning a blind eye to the negative, but rather by responding to every situation in the most positive way possible.
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3931



359 Magic Points

 
Posted on Sat Sep 27, 2008 2:31 pm  

I am not referring to any specific one anthony, my point is that you need to pay them off as soon as possible with no excuses. I have taken them out and then figured that I can pay a little at a time, when in reality I could have paid it off the very next pay day, It costs me more because I fiddle around and spent the money on things that I really did not need.
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online
http://www.crazymonkeygold.com/members/register.php?ref=fedupinpa
fireyone



Joined: 26 Feb 2008
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Posts: 4246



87 Magic Points

 
Posted on Sun Sep 28, 2008 2:47 pm  

Any payday loans should be paid as soon as possible. I would really like to see every State cap the interest rate on these types of loans. I do not thin k the whole idea of pay check lending is a bad idea. I did not do well in my area because people couldn't afford the rate. It would work if they redid their interest rate and made it more appealing to all people and not just the desperate ones who had no where to turn.
joe
Guest






Subject: payday loans
 
Posted on Sat Nov 15, 2008 7:53 pm  

i don't think people really understand that when having multiple payday loans is depressing keeps you from paying regular bills...i think at the point where people come on here and ask for help in the form a loan to pay off all those payday loans its even more depressing when the only help here is just advice. i like alot of other people have learned my lesson with this,but need a loan to pay off those loans and live a normal life.
goodnatured



Joined: 03 Nov 2007
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Posts: 3931



359 Magic Points

 
Posted on Sat Nov 15, 2008 10:26 pm  

When you get into the viscious circle of payday loans it can be very depressing, any type of debt can really, it affects your confidence, your self esteem and etc. It is important to be honest with yourself and then make a goal plan on how to get rid of the debt.

These forums are a really great part of the process, you can come here and let loose and talk about it. Lay it all out and then setting step by step plans on how to get rid of the debt. There is a light at the end of the tunnel, hang in there. It does get better.
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online
http://www.crazymonkeygold.com/members/register.php?ref=fedupinpa
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 4246



87 Magic Points

 
Posted on Sun Nov 16, 2008 6:03 pm  

You know I was thinking we discuss payday loans here all the time. seems like lots of people fell in to this trap. I haven't seen anyone give a true examplae of how to get out from under them. If your are only making so many paymants and do not have the money to pay one off in full how do you end this cycle?

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