Previously I have written about the Payday Loan Crunch and explained how you can get into a cycle of debt with them. As in my state, I have gotten a payday loan for the max amount allowed by my state, $1,000, then turned around and gotten another loan for the max $1,000 from another lender. Seriously, I have been carrying up to 18 loans in one month at times! I have owed to these loans right around $13,000. I’m sure you are saying, what? how? Well when you get into a cycle, you need to renew the loans each month. You pay only the interest or fees. So, you are paying out more money and need more money to pay your regular bills. So you get another loan.
During my desperate attempts to find help for my situation of the horrible Payday Loan cycle that I fell into, I ran across a site, a community, where I found one lost soul after another in THE SAME TRAP!!! Yes, I was not alone, but good thing, or bad? The more I read through the forums on the site, the more my heart went out to all these people because I knew right where they were! I was right there too. One hopeless, desperate situation after another. One spouse trying to keep this a secret from the other. It is a sad reality that these people, and myself, are living in.
I made a very strong friendship with another lady who found a post of mine and related so strongly to it she contacted me. We have so much in common. Huge payday loan debt, desperately trying to manage our money, our households, with the debt hanging over our heads and the secrecy, and yes, lies. We became fast friends, leaning on each other, talking about our stress, crying on each others shoulders, what a blessing to have found each other. I think it was meant to be. Just to have someone to tell, to know that I was not alone, or that maybe, just maybe, I am not as bad as I feel I am simply because I am not alone.
If you are out there feeling this way, go to the link on the right, Debtors-Unite, and it will take you to this site. Find help and support I urge you if you are in this situation. You are not alone and there is help out there.