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Dr. Bob is Robert Hsiung, MD,
bob@dr-bob.orgShown: posts 1 to 9 of 9. This is the beginning of the thread.
Posted by starrc68 on November 7, 2004, at 13:39:09
does anyone else have a problem with these payday advance places? i have borrowed from them and cant seem to stop i have about 4 of them going and i know its not good but work has been so slow so i use them to pay the next one, antone got any sugestions???? please help
Posted by octopusprime on November 7, 2004, at 15:16:15
In reply to payday advances please help, posted by starrc68 on November 7, 2004, at 13:39:09
oh dear.
those payday loans are a huge problem, with service fees and interest that amount to usury.in canada there are class action lawsuits pending against the payday loan companies. there's an interesting program about it here: http://www.cbc.ca/thecurrent/2004/200403/20040329.html
here are some ideas for you:
1. can you get a personal loan from a parent, friend, etc. to eliminate the high-interest payday loans? and then NEVER go back
2. can you go to a non-profit credit counseling service and find out what steps you can take to fix up your budget
3. can you consult the government and see what kind of benefits you can apply for while work is slow. do you qualify for unemployment or food stamps?good luck. i have bad credit (from credit card abuse) and i know how hard it is to resist. i had to learn to live with less (some months, WAAAAY less) ... if you have kids it's harder obviously
Posted by starrc68 on November 7, 2004, at 16:59:21
In reply to Re: payday advances please help » starrc68, posted by octopusprime on November 7, 2004, at 15:16:15
unfoutanly no there is not anyone out there to help see im also going through cancer so i have borrowed all that i can from friends and family and yes i have 3 teenagers to boot!!! the depresion on top of the cancer and i think theres some ocd going on there to. thanks for info but i am in us so those lawsuits dont help me but thank you, anyone else please help am at witts end here.
Posted by AdaGrace on November 7, 2004, at 17:37:53
In reply to payday advances please help, posted by starrc68 on November 7, 2004, at 13:39:09
Do you have any credit? Perhaps a credit card to transfer the debt with low interest? I wish I could give you some more advice. I know it's hard to make ends meet sometimes. A short term loan at the bank? Maybe a low interest line of credit on your home? do you own anything you could use for collateral? Sometimes when I need money for a big expense or disaster, I use the equity built up in my home loan to get a line of credit. Nothing big, a few hundred dollars, but the payments are low. Something to think about....
Posted by starrc68 on November 7, 2004, at 19:11:42
In reply to Re: payday advances please help » starrc68, posted by AdaGrace on November 7, 2004, at 17:37:53
there again all good advice but i do not have any credit or own a home, i guess i just have to keep the game up til i cant no more i really dont know what to do, of there was anyway out i think i would have found it by now, i will just have to keep doing what im doing til i cant no more, or til im not around anymore, that has crossed my mind here alot lately, exspecially with the cancer, but i have to hold on for my kids. thanks
Posted by AdaGrace on November 7, 2004, at 19:17:59
In reply to Re: payday advances please help, posted by starrc68 on November 7, 2004, at 19:11:42
Public Assistance?
Please hang on.....there has to be another way.....don't give up
Posted by starrc68 on November 7, 2004, at 20:43:23
In reply to Re: payday advances please help » starrc68, posted by AdaGrace on November 7, 2004, at 19:17:59
public assistance more or less laughed at me, i have made to much money in the last 6 months, doesnt matter that i am not now, but i did in the past. so i am just out of luck there, i know i will hang on i really dont have a choice.thank you so much for trying to help, just talking with someone helps a little.
candy
there has to be something out there that can help
Posted by 64Bowtie on November 8, 2004, at 8:21:58
In reply to payday advances please help, posted by starrc68 on November 7, 2004, at 13:39:09
star,
[Problem]
I am sad for you that this causes you such pain and frustration. It seems so easy, almost natural, to go get a small short term loan to help yourself out of a bind. However, my 83 yearold friend, a WWII pilot with no family locally, but a life-long gambling problem and a recent debilitating stroke, continues to pick at me to help him out of his pickle with the money advance folks. I can't pay/enable him! It would never end then. It's been six months now since he borrowed $150 from the advance people. He has paid back over $500 in interest and late fees because he screws-up here and there, which is compunding every two weeks, and he still owes the principle.[History]
I'm being truthful even though it might seem so outrageous. 400% interest per-anum! I read the contract and did the math! I am sad for you and wish I could help directly. It becomes such a merri-go-round! I am also sad for your terror and termoil, which sounds many times more than being late on the bills you tried to act responsibly for in the first place. My friend only tried to cover a bad check because the bank is charging him $50 charges and fees now for each extra bad check. It seemed so simple to him at the time .I wanted others to look at your situation more closely. Many don't use or even czek out these services. The history of cash-advance businesses is they were approved to take the teeth out of crime bosses and money laundering entities that have plagued inner cities for a century. The Government doesn't tax them enough to keep them in line, though. Also, Usery laws went away 25 years ago when we had an oil crisis that Pres Carter fixed by encouraging 23% prime rate, to move petro dollars back accross the Atlantic. That worked. But now we have these "money-lenders-in-the-temple" preying on the unsuspecting....
[Remedy]
Pay one lender down to zero this month. Next month, pay down another. Etc. Etc. Then, delay Christmas till Easter. Your family will understand. Just promise me to not complain, coerce, or heaven forbid... use violence. Be at peace, and do what has to be done. All will adapt and accept and stand by your decision!Rod
PS: And remember, you are not alone, especially here. We won't abandon you. Dr-Bob might PBC us if we did that.....lol!
Posted by starrc68 on November 8, 2004, at 8:43:44
In reply to payday advances charge 400% interest » starrc68 », posted by 64Bowtie on November 8, 2004, at 8:21:58
thank you so very much at this point i have to go from one to the other just to pay them but in 2 weeks i will have one paid off and i promise i will not go back, i just have to take care of the rest of them here in ohio they dont let you pay a little at a time it has to be all of it and the next day you can go back for more so they get you comin and going. it is so nuice to have a place to go and such good people to help thank you.
candy
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