can I consolidate pay day loans too?

Hello,
ok, lately I think Ive hit rock bottom, I dont konw. But I do know that usually I am very responsible with my money until recently. I had borrowed from one pay day loan and another and another-and its all done over the internet. Now I have like a couple hundred dollars coming out every other week, a house payment, 2 auto payments, credit cards and what other responsibilites I have. I want to crawl in a hole, I have put my family thru hell with this. I cant believe I have gone this far, what in the world do I do? So I thought well If I consolidate, will I be able to consolidate the pay day loans too? What is wrong with me? lately I have asked myself that over and over again. I know I have depression and lately its been getting worse. I just want to cry. I dont know what to do, have any advice, sometimes I think bankruptcy is my only way out, I know thats the cowards way out, but I cant take the burden anymore. Thanks

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3 Responses to “can I consolidate pay day loans too?”

  1. nathan h said:

    I used to work as a collector at a payday loan company. My advice to you is to stop borrowing from them. You need to add up how much debt you have, and then see how long it will take to pay it back. Possibly bankruptcy might be the answer for you. Concerning payday loans, if you dont have the money to keep renewing them and repaying the interest, you should probably default on them.

    They will hound you like crazy, call you at work, call your references, etc. To stop this you can send them a certified cease and desist letter. If they dont stop you can sue them and win easily, but i think they would definately stop. This would buy you some time to save up the money and pay them back.

    Maybe think about talking to a financial counselor who can help you set up a budget and a plan to get your debt paid off.

    If its not possible to get things under control in a reasonable amount of time, you may want to think about bankruptcy. Im pretty sure its free to contact a bankruptcy attorney and have a consult with them. One thing to keep in mind, they only make money when you do file, so some of them may pressure you to file when you actually should not.

    One last thing, people who were going to file bankruptcy would often come to my company and borrow money, then go to the attorney’s office and use the money to pay him. They would then include this in the bankruptcy. This is pretty unethical, and if a bankruptcy judge knew this happened, they would probably not allow it, but ive never seen that happen.

    (If you owe money to Advance America , please pay them back asap, I own stock in the company!)

  2. sunshine_today said:

    The payday loans are the devil. they are modern day loan sharks and they take advantage of desperate people.

    You can’t borrow your way out of debt. You are living beyond your means right now and you need to take some drastic immediate action to get back on track. Sell one of your cars. Sure, it might be inconvenient for a while but it gives you some money and gets that insurance payment out of your life. Have a garage sale, sell whatever crap you can scrounge up that you don’t use anymore. Your first priority is to get rid of those payday loans because they are the highest rate loans you have. have you investigated an equity line of credit on your house? I really don’t want to recommend that, because it can jepordize your home if you don’t stop financially floundering. But, it might be a way to get a reasonable interest rate and use the money to pay off those payday loans and get them out of your life for now. You will still owe the money, only now you are paying it back at a more reasonable rate toward that home equity line.

    You aren’t a failure. You made a bad choice financially and it snowballed. A lot of people do that–why do you think there is a payday advance store on every corner now? Everyone is desperate at some point. Don’t let that feeling of desperation color your sense of self worth. Managing money is a skill and it can take a while to learn it. You need to cut some of your overhead, though, find ways to scale back and get all hands on deck–it’s a family problem, anyone who can contribute needs to be helping right now.

    Good luck!

  3. smiling4ever222 said:

    Have you ever wondered about the reason of our existence? Have you ever wondered why we die, and where we go after death? What will happen to us in the end? Have you ever asked yourself why God made the earth and all that is in it under mans dominion? Why were the night and the day, and the sun and the moon created? What are we supposed to do during our lifetime? Were we created just to eat, drink, and enjoy ourselves before we die? As one poet put it:
    I do not know whence I have come.
    I saw my feet walking on the road.
    As they please I go and stop.
    What am I doing here?
    How did the road find me?
    I do not know! I do not know! I do not know!

    God has emphasized in many verses of the Quran that He did not create us without purpose. He said: What! Do you think that I created you simply in jest? And that you would not be returned to Me? (23:115) He also said: What! Does man think that he will be left to roam at his will? (75:36) In addition, He said: Do people think that they will be left to say: We believe, and they will not be held accountable? (29:2)
    Indeed, God Has created human beings for a purpose and with a purpose: TO WORSHIP HIM ALONE (Monotheism). He said: I have not created the Jinn and humankind except only to worship Me. I don’t require provision or feeding from them. Surely Allah is the All-provider, the Possessor of all strength, the Firm. (51:56-58) In fact, all prophets told their people to worship God alone (Monotheism) and shun worshipping His creation (Paganism). God said: I assuredly sent among every people a messenger with the command: Worship Allah and avoid worshipping false gods. (16:36)
    Prophet Abraham, for example, believed in One God, who had no partner. Anyone who holds a different understanding of God than this has contradicted the religion of Abraham and follows falsehood. God says in the Quran: Those who reject the religion of Abraham make fools of themselves. (2:130)
    Prophet Jesus was reported in the Gospels to have said: It is written: Worship the Lord your God and serve Him only. (Luke 4:8)
    Prophet Jacob also said (in the Qur’an) to his people: Indeed, those which you worship besides Allah are only names that you and your forefathers have established, for which Allah has sent down no authority. The command belongs only to Allah. He has commanded that you worship none but Him. That is the right religion, but most people do not understand. (12:40)
    Read more about the TRUE BELIEVE which supported by the Miracle Holy Quran :
    http://www.islam-guide.com/islam-guide.pdf

    http://www.harunyahya.com

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    Real happiness and peace can be ONLY found in submitting to the commands of the Creator and the Sustainer of this world. God has said in the Quran: (Truly, in remembering God do hearts find rest.)
    (Quran, 13:28)

    On the other hand, the one who turns away from the Quran will have a life of hardship in this world. God has said:
    (But whoever turns away from the Quran, he will have a hard life, and We will raise him up blind on the Day of Judgment.) (Quran, 20:124)
    This may explain why some people commit suicide while they enjoy the material comfort money can buy. For example, look at Cat Stevens (now Yusuf Islam), formerly a famous pop singer who used to earn sometimes more than $150,000 a night. After he converted to Islam, he found true happiness and peace, which he had not found in material success.
    To read the stories of people who have converted to Islam, please visit

    http://www.islam-guide.com/stories

    At this web page, you can read the thoughts and feelings of these people, who are from different countries and have different backgrounds and levels of education.
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