How do you payback payday loans?

[hayesc0]

The interest rate is like 130 percent because I missed loads of payments. Now Im in a hole and can't get out as the interest keeps building and the original loan was only 100. Now I owe about 550 and it goes up every day I dont pay.

I even took out a second payday loan to pay the first one back but now the interest is building on that. It's going up 20 a day and I only borrowed 100 on that one.

Will they stop my interest and put me on a cheap monthly plan? Because I've been ducking their phone calls for weeks.

I have a full time job but all my money goes to my car and rent and I have zero left over to pay these debts.

You might have to find a loan with a decent interest rate maybe try I think its called lending tree and see if that helps.

 

[K.Dot]

If you'e black, you should never take loans like this.

 

[mortuus est]

your credit will get hammered

probs best to stop ducking their calls cause when they start knocking on your door, thats when shyt gets real

 

[Dig]

I used to take them out in my early 20s. Would pay it off out of my check. Got fired on my day off and had a payday loan I had just took out for like $500 . My check was like $200 after rent and a sack . Them payday folks was calling me daily till I blocked the # . They deposited they check and my account went to overdraft

 

[ba'al]

Yeah bruh they call it predatory lending for a reason.

 

[MoroccanBoy]

Logging into my account everyday and seeing the numbers go up

This was all done online by the way. I did it on my phone while getting some new tires on

Update. I just called them and they have froze my account and interest for 30 days to give me some breathing room. Then after 30 days they coking back for that ass

your credit will get hammered

probs best to stop ducking their calls cause when they start knocking on your door, thats when shyt gets real

What do I need credit for anyway tho?

 

[MoroccanBoy]

If you'e black, you should never take loans like this.

They didn't ask my race when I applied

It was all done online. What does race have to do with it. I'm not in America

 

[beenz]

Easy....let them stay with the loan shark.

Edit: 130%? Breh, you getting off easy. I've seen predatory rates of 300 to 400%+.

2nd Edit: They ain't gonna help you pay them back, breh.

I wanted to say the same thing. I watched a documentary on netflix called "dirty money" and there was this cat running a bunch of payday loan stores in states where they were illegal by setting up shop on an indian reservation where the state laws don't apply to them and using the web for the payday loans.

he was charging that kinda interest and eventually he went to jail because he was taking advantage of people.

I loved seeing him in his fancy crib when the man comes and takes his favorite two races cars

Scott Tucker (racing driver) - Wikipedia

this dude here is a cock sucker

 

[Vilify]

Payday loans are a death trap. I borrowed $240 from an online company many years ago. When it was all said and done I had paid them over $500 in interest fees and I still owed the original $240. Eventually I said fukk it and I closed my bank account.

Come to find out the company was operating illegally in Georgia. When they realized my bank account was closed and they couldn't debit the weekly interest fee, they started leaving me harassing voicemails and threatened to sue me but eventually they went away.

 

[NoGutsNoGLory]

 

[street heat]

Better to live in your car than take out a payday loan.... dead serious

 

[mortuus est]

What do I need credit for anyway tho?

the better your credit score the better or easier life could be

you need good or decent credit to get better credit card offers, better car deals
Credit scores are used by most lenders. They're important to have if you ever decide to purchase a home, a car, or even open your own business. Potential employers or landlords, as well as phone and utility companies, may look at your score to determine whether to do business with you.

 

[Cynic]

The interest rate is like 130 percent because I missed loads of payments. Now Im in a hole and can't get out as the interest keeps building and the original loan was only 100. Now I owe about 550 and it goes up every day I dont pay.

I even took out a second payday loan to pay the first one back but now the interest is building on that. It's going up 20 a day and I only borrowed 100 on that one.

Will they stop my interest and put me on a cheap monthly plan? Because I've been ducking their phone calls for weeks.

I have a full time job but all my money goes to my car and rent and I have zero left over to pay these debts.

Default on that shyt and wait till a debt collector writes you a letter. Then explain you are moving to morroco and would like to settle the debt. Offer them 30-40% and get it in writing.

Then hit up Experian and that other credit agency in the UK and contest every mark on your credit report. Hound them everyday and email them everyday until they cave

Stop renting money at outrageous rates Arabreh

 

[Art Norm]

What do I need credit for anyway tho?

Unless you plan on paying cash for everything, you need credit b. Some employers even run your credit.

 

[hostsamurai]

You’re pretty much screwed. Your only hope is to go to a court and hope they can help discharge these loans for you.

But then you say goodbye to any mortgage approval in the future. Although with the way housing prices are it doesn't matter all that much.