Question

I have 3 payday loans out that Im paying on I need to apply for another one?

what should I do

7 years ago - 10 answers

Best Answer

Chosen by Asker

baby, no. get out of that crap now. do what you need to do to get away from them, whether it be eat cup of noodles for a month or not get your nails and hair done, whatever. i fell into this once, where i needed to get a payday loan to pay one off, then i woke up. i ended up welching on them to get away from them, then dealt with collections in a manner i could control, instead of them just reaching into my account and taking my money. once you are away from them, do an experiment. keep a small notebook in your pocket or purse and write down every dime you spend paycheck to paycheck and note what you spent it on. It will amaze you how you over spend, overpay, or flat out piss your money away. Then make the changes and get on the road to working to live, not living to work. good lord girl, i hope it gets better for you. these payday people are little better than loan sharks.

7 years ago

Other Answers

STOP STOP STOP STOP STOP

YOU NEED to get a better paying job, or pick up a second one. NOW. Those will screw up your life for YEARS if you don't get yourself out of this rut NOW.

by ruuk - 7 years ago

Pay off the ones you took out first. What the heck is your money going on? Crack? Heroine? If you borrow more than you make? Ding Ding Ding. Get a new job, or a second job. Why in the world are you doing this? Seriously help is out there if you need it.

by sarah k - 7 years ago

Do you have a bank account? Maybe you could apply for a personal loan from a bank or get a consolidation loan so that way you are paying on just one loan instead of three. You should try to pay the three off first... relying on loans can get you into a heap of trouble in the future. Hope it all works out for you, and good luck.

by hapa.kolea - 7 years ago

Don't do it!!!! Payday loans are almost never a good idea. You're robbing Peter to pay Paul. You will never get ahead by doing this. You have to learn to live within your means.

by Angie - 7 years ago

Just digging yourself deeper, suck it up pay the three you have and stay away from them, they are nothing but a debt trap.one made to break you, and as by the look of it it has. Again best thing to do is suck it up, pay them off and stay away or things will just get worse

by Pengy - 7 years ago

You need to stop borrowing money you can't pay back.
If you have three outstanding loans and need another, you are stuck in a vicious cycle.
Time for a better paying job, or lose some addictions.

by jessep - 7 years ago

NO NO NO Don't do it. Pay off the ones you have already. Look at your expenses and make a budget for yourself, I know it's hard but you need to stick to this budget. See where it is you are spending your money and find out what things you can cut or go without for a while. Ask friends or family to help you out for a while, at least they won't charge you interest. It seems impossible but it can be done. And if need be, do debt consolidation on the credit cards if you have any and take on a part time job, just until you pay off the payday loans. Good luck to you.

by Lynn H - 7 years ago

Have a garage sale, pawn something, sell blood, collect alum cans, get a second job. Pay them off one at a time but get them paid off and never take out another payday loan.

Even if you have to pay one of your bills late, the late fee will be a lot less than that 600% interest on the payday loans.

by bdancer222 - 7 years ago

NO! NO! NO!

You are already in the Payday Loan Trap and you will never emerge. DO NOT! I REPEAT, DO NOT OBTAIN A FOURTH PAYDAY LOAN! You are paying 1000%-1800% interest for the loans you already have out. Payday Loans = Loan Sharking.

I apologize to others for yelling, however, I feel this is the onlyway to get through to folks who want to obtain a Payday Loan. Taking out a Payday loan is same as taking your cash and setting fire to it.

by Tigger - 7 years ago