I got messed up with these payday loan places, and now I am $3000 in debt.What do I do?

payday loan

I am a mother of three and divorced. I used payday loan places to get on my feet only to be knocked back 3000 feet. They want to take me to court if I don’t get the money in a week. What am I supposed to do these places are misleading and should be outlawed will someone please help me?

Real Estate Professionals
Categories : payday loan



Get to a government-run or non-profit (no fee) credit counselor and ask for their assistance in renegotiating the debt. There are many for-profit counseling services, I’m speaking of the kind that will not charge you (gov), or will cost extremely little (non-profit). You go prepared with copies of your loan documentation, any other debt, and a list of what it costs you to maintain your household (what you pay for rent, for food, the kids’ health care, etc., etc. They’ll take a look at your whole financial picture, contact the creditors and try to reduce the interest rate as well as set up a payment structure. Then, you pay the Credit Counselor service and they pay the creditor. What this does is lower the cost (because your interest is not compounding) amd remove the stress & threats. Just be careful which Credit Counselor you choose: it should be no-cost or extremely low cost.

This link is an example, but you must investigate yourself to choose wisely. You could also try searching for “Credit Counselors” on your state or city website

National Foundation for Credit Counseling

Then, if you’re smart, you don’t repeat the problematic behavior. What can really help is while you’re paying down this debt, you take advantage of the financial management classes usually offered, at least by the government credit counselors; they can be very helpful for changing how one views money, help you identify how this situation got so screwy, and how to choose between financial products and better evaluate loan products so you don’t get stuck in a usurous situation (where you’re charged exorbitantly high, compounding rates) again – you can learn this, you can plan and build and bring your family out of this and into a more constructive financial picture. . Good luck to you.

August 3rd, 2009 at 6:07 pm

Too bad some of the other single moms here asking where to get a payday loan and then claiming they *know the pitfalls* can’t hear your story. These things get you in a cycle of debt that is difficult to crawl out from under. You just end up paying the fees and interest every cycle that it is due.

They will sue you if you do not pay, but I highly doubt they are going to sue you in a week. Were these loans from an online source? Some online payday loans are illegal in some states.

Here is a link to a forum where they discuss these things, it might be of some help for you:


You are absolutely right that they mislead and take advantage of people. I would suggest trying one of the following:

I’ve found some good sources here…

Good Luck.


I will like to referred anybody who is in need of loan to this God fearing man because i have been SCAMMED 5times by this fake lenders.when i have bad credit is this man that gave me{ $60,000] without anyupfront fees.you can get to him via Email. he gave a loan too.

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