Saturday, January 23, 2010

My Health Suffers Thanks To Debt!

This post will be short and sweet and if you do nothing more than heed my warning, then I have done what needs to be done. I am ashamed to say our family has fallen victim to payday loans and my health is suffering because of it.

I did not take the loan(s) out and never would, I would rather eat PB&J or ramen noodles and get through it than to visit these sharks! But I guess my husband thinks differently. I am broken and depressed!

They have done nothing more than rob us of living. When you are giving over 1/2 of your paycheck ($685 in our case) to a loan shark (they really are) and yet, you cannot afford your physical therapy and medication, something is wrong!

Please, do not feel sorry for me, but ensure no matter how badly things get, do not fall prey to these predators. You will be the looser, not the winner. I know, our family is sinking in quick sand and there is nothing I can do to stop it!


Deb said...

We have not fallen prey to the payday loans, but the credit cards consumed us! Thankfully a little over a year ago God convicted and we got serious. With a little help from listening to Dave Ramsey, we are on our way to being debt free!!
It's hard and sometimes the grocery bags are slim pickens', but it sure feels good watching that debt go down!
Will be praying that your family will be able to get out from under the debt as well.

Rannyjean said...

I love Dave Ramsey and for years I was debt free & then one thing happened and another and instead of doing what I should...then I got sick and couldn't I said, I can live on little to gain much!

Deanna said...

I am certain you will be in the prayers of many. I hope also that you and your husband will be able to work out a plan. Separately it will be impossible. Have you committed to each other and to the Lord to work together, be honest with each other, not blame for past actions?

That said, on a more tangible note, have you tried appealing/negotiating rates? It is a little embarrassing at first, but certainly worth the effort.

Best of all things to you.

Sewing Junkie said...

You are not the only one. Try and work with them. Stop the exchange of check for cash and pay off the amount slowly. Yes they can take you to court, but if they do you will pay court fees but they can garnish your wages and only get a little each month. Not sure how much in your state, but inmine only 25% a month. Which would free up some of your funds. Look into it. See if you can get out of all the interest. Maybe they will forgive some of it. Can't hurt to try. Chris Good Luck

SewCalGal said...

Hugs. I'm really sorry to hear you are having debt issues that cause you health issues. I have personal experience with excessive debt so I know it isn't fun to be in this situation. I hope you will find a no-fee financial coach who can help, as there are many churches and charity organizations that now offer assistance. Plus some can help negotiate with creditors. But, in the meantime know you are loved by many and it is ok to share your stress with others. I hope we can all help to be a good listener and provide encouragement.



Love 2 Quilt said...

Jean I'm thinking about you and saying a prayer for you. I understand the situation you are in, because I've been there also. Sometimes talking to a priest or minister may help. But the only way I got thru it was by taking it one day at a time and trying to find good things among the bad.

Rannyjean said...

I have been down this road before, it runs in cycles. Jesus will prevail of that I am certain! Thank you all for the kind words and prayers!