Online Payday Loan – PROBLEM with repayment – I fell into a spiral of debts

I suppose you get lots of such messages. However, I look forward to your reply. The problem started when I took my first payday loan, when the whole house was on my head and the earnings were very low. To repay the loan installments, I took another loan, I was sure that everything was under control and I did not tell anyone about my problems. However, it did not last long and I lost control over my debts. I got into a spiral of debt, which I know is hard to get out of, but I want to do everything to say goodbye to debts once and for all. So I am asking for advice, how could I earn an extra salary without my own contribution and at home?

Every day dozens of phones, the mailbox is clogged. Conversations with creditors do nothing. Each time they demand repayment of the whole, and where do I get, for example, 3000 USD in two days? – unreal. My family helped me a lot when possible, I was able to pay off a few payday loans, taking a larger loan. However, installments are several times higher than my income. Every day I have the support of my relatives, I am not alone with debts, but debt collection companies are constantly harassing and they work badly for me.

However, I certainly will not give up, I want to get out of debt as soon as possible. And here is another question, based on your experience, do I have a chance for a consolidation loan? Is it possible to avoid a bailiff? If so, what do I have to do? Thank you in advance for all the advice. Regards,


Harassment by loan companies

I understand how much a given loan company may be irritated by your failure to pay the loan installments on time … I also understand that the loan company has the right to write and call its client, but for God’s sake, in decent limits. ..

Recently, I advised someone on the blog to harass the debt collection companies, report to the police about attempted intimidation and intrusion, of course you can do the same if you feel harassed by a loan company!

You can choose from the following institutions:

  • Poviat Consumer Ombudsman
  • the office of Competition and Consumer Protection
  • OCCP
  • Police or Prosecutor’s Office

No one has the right to stalk you with any form of communication, whether it is:

  • SMS contact
  • email contact
  • telephone contact,
  • registered lists,
  • or visits to the place of residence.


Debt for USD 50,000 in 3 years?

Debt for USD 50,000 in 3 years?

If you ask if you are able to get out of debt in 3 years, it’s never in your life. See, let’s assume the simple calculation:

Income from 3 years = (36 months x 1500 USD) = 54,000 USD
Debts: USD 50,000

If you would postpone the entire payment to pay your debts, yes, but we both know it’s impossible, right? you have to live on something … bills, food, transport, random events, broken car, dentist.

Despite your willingness and your optimism, 3 years is definitely not enough to get rid of debts.


Give yourself more time

Give yourself more time

Of course, I do not deny setting ambitious goals, but you also need to assess your financial situation a little realistically so as not to experience disappointment later …

Give yourself more time, see how much you can put off paying off debts monthly. See how it works in practice.


Increasing income

Increasing income

The goal of getting out of debt in 3 years is real, but you would have to increase your income, what can you do about it?

  • salary increase
  • overtime
  • extra work on weekends
  • job change for a better-paid job
  • travel abroad for seasonal work

There are some options right? I don’t know which / which options are most suitable for you, but there is definitely something to do here, right? I think that you would have extra work on the Internet, eg making money writing texts – what do you think about it? let me know in the comment.

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