Payday loan troubles

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paydayloantrap

In 2011 I did something stupid. I took out a payday loan for $750 but I have since lost all the paperwork so I have proof of nothing. I was living with my MN ex at the time and he was the one to convince me to take out the payday loan. We were desperate at the time and he had me believing this was a smart thing to do. It wasn’t. Now it’s me stuck holding the bag.

I was never able to pay the loan back and all kinds of interest I didn’t understand was being tacked onto my debit card. I had to cancel the card to keep mysterious charges from continuing to be deducted from my bank account.

Someone called this morning threatening me with a civil suit. She wasn’t very nice about it. I wasn’t sure what to say. Stupidly I admitted it was me when she asked. I’m not good at thinking when I’m under duress, especially when I’m under duress and suffering from The Martian Death Flu.

This operation has been calling and harassing me for years and has even called my place of work (they no longer know where I work since I changed jobs). I know they probably won’t actually do anything but I still worry about it and don’t know what my legal rights are or if I need a lawyer (which I cannot afford). Should I just ignore these calls? Maybe I can settle with them for the $750 after I get my tax return but I have no proof anymore that was the amount I borrowed. I’m not sure what I should do but it’s causing me stress I really don’t need.

Never, ever mess with payday loans, especially the kind you obtain online.

13 thoughts on “Payday loan troubles”

  2. Eek. Maybe changing your name and moving to Malaysia would help?

    I’m just being silly. We had excellent credit until my husband had two heart attacks and could not work and then I had an accident and broke a lot of bones and could not work because it was almost impossible for me to breathe in or out without screaming. We sold a bunch of stuff, including our plasma at times, to buy food and keep the electricity on. Now when creditors call I hide.

    Liked by 1 person

    • Oh, I get what you’re saying. It used to be that bad here too, especially when we had credit cards together. He’d run them all up and creditors were calling left and right. Did you know, even during our engagement, he had me buying my own gifts and promise he’d pay back later?
      What a fool I was. That should have been a huge red flag but somehow…it wasn’t.

      Liked by 1 person

    • Yay for cell phones. I called a woman, and because she didn’t know my number, she hit delete – she has too many bills, thanks to her job having been exported to slaveland. i have no sympathy whatsoever for loan companies whose interest rates rival the mob. Wait a sec, these ravenou$ wolve? ARE the mob.

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      • Payday loan companies are especially unethical and prey on the poor and desperate. Some states have outlawed them but there’s always those online and they are the worst.

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  3. I used to take out payday loans all the time. My friend and I used to go half with paying them back. The last one I took out was in 2005 or 2006 and I vowed to never take out anymore – I haven’t since. I had to figure out how to budget my money and realize that if I didn’t have enough, then something would not get paid.
    Anyway, in regards to the fact that you did not pay it back, you need to look up their rights to request repayment. I am quite sure they have some rights but there may be a statute of limitations. Because they gave you money, it is your responsibility to pay it back; however, there may be some fine print somewhere stating that there may not be a penalty if you don’t pay it back. In any event, I hope you get it worked out. Good Luck!

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  4. Payday Loans freak me out. I would rather take a tin cup into the streets. I’ve been bankrupt and pursued by creditors. [medical bills, husband’s lay off]. I used to answer the phone saying “No Habla Ingles” but it didn’t deter them. I think next time I move the only person knowing I live there will be the doctors. I hope they didn’t turn a 750 dollar debt into 10,000. Our country has full blown usury now in it. Make them show the paperwork, if you do end up in court. I think our society is getting sicker. I notice jobs pay the same as in the 1990s. I have to go to a food pantry this week. I am sorry you are sick Lucky Otter and hope you get better soon.

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    • But you know, “corporations are people” and have more rights than we do! Human beings are regarded as machines to do the corporate bidding and can be tossed away when no longer useful.
      I believe there are some laws against usury but I am not up to date on them. But I compeltely agree our society is getting sicker and the average Joe has very few rights against the system that would suck him dry. If you’re poor and disabled, forgettaboutit. I am sorry you have to go to a food pantry this week, but hopefully you can pick up some tasty food .
      I still feel terrible and stayed home again today. My paycheck next week is going to be crap, but there’s no way I could go to work feeling like this.

      I may try your “No habla Ingles” trick next time a creditor calls.

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      • Yeah the corporations have more rights. Human beings by the elite are seen as cogs in the wheel and cannon fodder for them. I don’t think any usury laws are enforced anymore but they used in our law. Scary isnt that? We are losing rights everyday, it is getting scary. Yes I have to set the alarm to go to food pantry on time. This one usually does a better job then handing out dented cans full of would be botulism. Around here some of the food pantries are scary but this is a church based one. Sorry you are sick, I know sick days are becoming a thing of the past. Yeah you don’t have to answer the phone remember too. We do have Caller ID, which does cost a few dollars a month, but saves me intense strain with all the telemarketers and more. The “no habla ingles” did get one of them to leave me alone.

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