I got caught up in the payday loan cycle. How do I get out?

payday loan

I received several payday loans with my boyfriend’s money as a way to repay these loans. My boyfriend moved out, but the loans are in my name through my bank account. How do I get out of this dilema?

Categories : payday loan



You will have to pay them off as soon as possible.


Nasty isn’t it?

Stop all spending!! Only use your money for rent, food and gas in the car or bus.

Try to get extra shifts at work from your co-workers and boss.

Consider a part time second job.

Stop borrowing money when you don’t have enough money. That will never work, EVER, so just don’t do it. Go without things that you think you need until you can get your own money.

I ate rice and carrots for three days one, because I couldn’t afford more food.


My husband and I went through this a couple f years ago, it was awful! I assume you are working, if the place you go through is like the one we went through you had to take them your current pay stub and bank info to get a loan. We ended up just paying off the payday loan and not getting another one, even though we didn’t have very much cash left that payday, it was a very good feeling when the next payday came around and we didn’t have that weight of knowing we were going to have to advance again. We ended up closing our checking account for the first year, just to save us from the temptation of doing it again.

If you are not working now, all I can say is tax time is upon us and if you get a refund you should use that to break the cycle.


First check and see which payday loan company charges the highest interest rate and pay them back first, There are payday loan companies that will give you monthly installment payments so you can pay over time, which is good, just be careful of the interest rate, it sometimes is higher. Can you get a loan from family and friends to pay off your loans, so you don’t have high interest loan rates to pay? How about taking an extra part time job so you can pay off the payday loans. Best Wishes and Happy New Year.


Unfortunately, any bills in your name are your responsibility.

The only way you would have a slight chance of not paying is if you go to court and have the evidence to prove that it wasn’t your loan. Mind you, if the loan is in your name, it’s very hard to prove.

I’d just pay it off as quickly as I could. If you are having trouble meeting the payments, talk to the company and see if there is something that can be worked out to make repayments easier for you. Remember if you do this, you will have more interest on your loan than if you pay it as quickly as possible.


Yipe! I don’t think you can. Payday loans are binding legal contracts, even if they do run close to usury (which used to be called ‘sharkery’ in legal terms). Regardless of the fact that they were with your boyfriends’ money and it was in his best interest, you are unfortunately the one holding the bag.

If all the official correspondence and transaction history only has your name on it, your boyfriend is unfortunately legally clear and free. This is why Judge Judy says never ‘get a cellphone’ for someone; its the same principle.

I wish I had some heartening stuff to tell you, or even a legal backdoor, but…there isn’t one. Sorry.

Good luck.


This is a hard lesson learned, don’t loan your credit for money to benefit someone else. Unfortunately, these bills are your responsibility. If you can’t obtain another loan to pay them off at a finance company, deal with the payday loan company right away. If your boyfriend signed or you have proof the money was for him, you can take him to small claims court to get your money back. Don’t let him get away with this, he owes you the money.


I also am in these payday loan places, really wish the places didn’t exist but figured out a plan on how I am going to get out, when you go in and pay on your loan, pay it all off in the full amount and reloan each time for a lesser amount, usually I go in $50 increments lesser each time and am making some headway, also the most important is to budget money the most tightest possible, also if you are in a really bad situation with payday loan places this website helps people get any type of loans:

Right now I am applying for a loan on there to buy a second car, but also I see you can use that website also for payday loans, you have to either create a listing on your own or join a group on the website, I see there is a group on the website called “Payday Loan Terminators” that probably be the best group to join on there.
If you have any further questions/advice, e-mail me:

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