Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

how would u help her? no bashing!!

i have a friend and she has alot of debt and more bills than what she makes every month leaving her needing more money every month for neccessities she honestly has no option other than to get payday loans to help her thru but now it's gotten so bad she can't even pay the payday loans back she is in need of serious help her husband has a fulltime job but it's just not enough she can't find work. How can she possibly get out from under the payday loans that are due today as well as her other bills without filing for bankruptcy what are some ways to avoid the bankruptcy she pays 900 in rent for a 3 bedroom apt. which is how much it costs to rent that in this state she has no option on the payday loans I have no money as well payday loans feed her kids as well as help w rent and gas for hubby she has nothing of value

Answer Question

Asked by Anonymous at 11:34 AM on May. 17, 2010 in Money & Work

Answers (13)
  • does she get WIC, food stamps? Can she visit a food pantry?

    Answer by peanutsmommy1 at 11:37 AM on May. 17, 2010

  • Contact your state representative because these type of loans are questionable because of the horrendous interest rates. They may be able to extend the due date or take smaller payments once you get someone else involved. Those places should be illegal.

    Answer by Anonymous at 11:45 AM on May. 17, 2010

  • She should contact a financial advisor and see what her options are, maybe she would be able to consolidate her debt, but chances are she may end up having to declare bankruptcy (I am not sure what the laws are in your area regarding this). I wish her luck and hope everything works out!

    Answer by Anonymous at 11:47 AM on May. 17, 2010

  • she don't qualify for any welfare services I think it's partly due to how much rent she pays and there isn't anything cheaper for a 3 bedroom here in Utah. She's gotten consolidation loans from a financial institute but the damn interest is so high she's not paying anything on the that's not the way to's her debt to income ratio she has no idea what to do she cries all the time for fear she will overdraw her checking for thousands of dollars not being able to pay the payday loans today which will add to it I'm sure. She's also afraid they will take her to court for what's owed which eventually they will her and her husband only have one car that's not worth anything they have credit card bills due to her financial situations I know it's her fault for the debt but now it's like the least of her worries her big worry is how do I get out from under this debt??

    Answer by chica679 at 11:48 AM on May. 17, 2010

  • If she owes more than she has then she's insolvent. If that's the case bankruptcy is her best option. It's really not that bad in a few years she can rebuild her credit and will be able to move on with her life. In the meantime contact local churches, community centers, the library, the wic program or food stamps and ask them what programs are available for her. I would say that bankruptcy is her best option bases on your description.

    Answer by mrsjonzy at 11:51 AM on May. 17, 2010

  • She should be able to qualify AT LEAST for WIC if her children are under 5 or if she is pregnant or nursing. I qualified for that even with my DH's pay as a Staff Sgt in the Air Force and I don't think they took our rent into consideration for that either. She should check into that. Otherwise, I think bankruptcy might be her best option. It's not always as bad as it sounds, it can actually be a positive thing for people who REALLY need it. Unless her "bills" are non-necessities, which in that case it might not help a whole lot.

    Answer by AprilDJC at 11:52 AM on May. 17, 2010

  • This site does a pretty good job of explaining the different types of bankruptcy:



    Answer by AprilDJC at 11:53 AM on May. 17, 2010

  • Have family members help them.

    Answer by Anonymous at 11:55 AM on May. 17, 2010

  • have her fill out an application to mcdonalds or walmart, at least at walmart she will get a discount on things other than food.

    Answer by angevil53 at 12:02 PM on May. 17, 2010

  • Pay day loans are a trap, with 20 percent interest or more. They know that people will have to just pay the interest and keep taking out more loans so she is just paying more and getting nothing everytime she gets a loan. Tell her to go to the bank and try to get a secured loan. She'll get a much smaller monthly payment with a lot lower interest rate, and more time to pay it off. You can put up a car title, or guns, or other things for collateral.
    I don't think anyone can get her out of the money she owes on the loans just because of the interest rate. Some people have credit cards with interest rates that high. They sign an agreement saying they'll pay knowing the interest rate before hand.
    Good luck to her.

    Answer by Quentinsmamma at 12:20 PM on May. 17, 2010

Join CafeMom now to contribute your answer and become part of our community. It's free and takes just a minute.