Trapped In Payday Loan Debt – I Need Help!

By Shawn Lee Martin


Trapped In Payday Loan Debt

It really gives a person all sorts of feelings when we are sent the message “I am trapped in payday loan debt – I need help!”

First we feel sadness for the person and their family, being trapped in payday loan debt is so hard on all involved.

Second  we feel anger at the payday loan companies for allowing people to get in these traps in the first place.

Third we feel driven to help the person that sent us the message in eliminating their payday loan debt as quickly as possible.

Finally, we feel the complete satisfaction that we did everything we could to help them and they are now safe and out of payday loan debt.

Are you trapped in payday loan debt and need help?

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The Money Trap


It is so easy to get caught up in the money trap.

The payday loan companies make it so easy for people who really should not be borrowing money to get up to $2000.00 deposited in their checkbook in a matter of hours.

If only it was that easy to pay it back.

Let’s take a look at what the definition of a trap is is so we can all be on the same page when talking about this subject.

A few of the definitions are related by the wording surprise, catch, and trick.

All words we do not think of when thinking about doing business with a company.

We do not want them to trick us, or catch us, or surprise us in any way!

Being reputable and caring for the customer are two things you just will not find in any payday loan company we have dealt with, and we have seen just about all of them in our quest to help people with out of control payday loan debt.

Defaulting On A Payday Loan


An alarming amount of people who take out these loans do end up way over their heads in debt and within weeks are actually trapped and in default of their loan terms.

This does not always trigger negative action at first as the loan companies love to give the lenders options like extending their loans, or taking out additional loans to cover current balances.

All of these practices just lead the borrower farther and farther into the trap with no end in sight.

Below is just a very small example of some of the horrors people go through with these companies.

Taking Action


trapped in payday loan debtWhen we get the desperate message from a potential client that they are trapped in payday loan debt and need help, we take action as quickly as possible.

Every day adds more late charges, collection actions, and interest charges to a defaulted payday loan, and the sooner action is taken the better!

We have seen $500.00 two week loans grow to a borrower having three to four active and defaulted payday loans with literally thousands of dollars in outstanding balances adding up daily and all in the course of a few months.

The sooner we get to work on eliminating the accruing interest and get a new low bi-weekly or even monthly repayment plan established the quicker the borrower starts smiling.

Once we get the phone calls and collection threats stopped and get the repayment plan all set up, the borrower never needs to be in contact with the lender again, we can do it all from our offices.

Summary


We can jump on these defaulted loans and get an amazing amount of peace of mind for the borrowers in a matter of 24 hours.

If you need help with your payday loan debt give yourself a break and give us a toll-free call at 1.877.280.5100 or fill out our no obligation form for a free quote on how we can help you.

We hope this article helps people see how dangerous these types of loans are and we encourage anyone who is considering taking a payday loan out to reconsider and find alternative options.

Many banks and lending institutions are now offering alternatives to payday loans for people with not so great credit and these options are worth considering.

They are not short-term high interest loans like the payday loans are, and they will not set you up to get caught in the payday loan trap.

Taking the right action today will lead to better results tomorrow!
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Are you trapped in payday loan debt and need help?

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38 thoughts on “Trapped In Payday Loan Debt – I Need Help!”

  1. I actually considered taking out a payday loan some time ago – Me and my girlfriend wanted to move out and get our own place. Glad we realized(Quicker than most) what a terrible idea this was. Thanks for writing this! I hope it’s able to help some folks out who weren’t fortunate enough to realize what a bad business it is BEFORE getting neck deep in debt…

    1. Hi, Cohen!

      Glad you saw the light before you got involved with these loans!

      Please help spread the word that we are here and we are willing to help anyone in the USA with payday loan debt problems!

      Shawn>>

  2. These sharks should be put in jail for stealing. I see them everywhere. The interest is like 425% and that should be illegal. Only people struggling would need that kind of loan and someday those sharks will face a higher power. I think what you are doing is great. People need to know that their credit score does not really matter if you are struggling. What could you get on credit anyway if your poor. Great article and glad to see someone is willing to help.

    1. Hi, Tammy!

      I love your passion for what is right!

      We will be here for anyone who needs our help, and we appreciate people like ytou who help spread the word that we are here!

      Thanks so much for stoppinbg by!

      Shawn>>

  3. Hello there

    l never heard about payday loans until l saw a documentary recently of people who could not afford to pay back.
    What really cant get into my mind is why these are legal in the first place, to me they are downright thieves.
    You are right,these are traps,tricking poor and desperate people only to demand almost impossible to pay interest rates.
    Im glad to read that banks have now set up alternatives to payday loans, but still people need to learn to buy ONLY what they can afford to pay.
    Glad i never got trapped in one of these outright money sucking businesses,l hope l never do.
    Lovely site, very informative and what most people out there need,thanks.

    1. Hi Roamy and thanks for stopping by!

      They are legal because they pay to be by buying up votes.

      A very unfortunate process but one that does exist.

      Just stay away from them and you will be fine 🙂

      Shawn>>

  4. Thanks for putting this up. That is a really good video that gives people a nice quick overview of payday loans.

    It’s really absurd that these high-interest loans are legal. They should be made illegal really. These companies are making a profit from poor people. They are kicking them while they are down.

    It’s difficult though, because for people who have run out of money before their next paycheck, what are the other options? In the UK we have pawn shops, where people can take in items in return for money, then buy them back once they have some money again. Do you have anything like that in America?

    1. Hi, Marcus!

      Yes, we have pawn shops here and of course they also offer payday loans so the poor get a double dose of help, lol.

      Seriously these loans can do some good but one must be right non the money and strict when taking ONE and only ONE out and they must pay them back IN FULL on the first due date, period!!

      I wish everyone had this knowledge going into the loan.

      Thanks for stopping by!

      Shawn>>

  5. Shawn, I think your website offers a very important service. It is a truth that most of these debts are accrued from our inability to curb our lust for fad and fleeting gratifications. That said, if you have found a friend or family member in this cycle it is just as pitiful and you are called to help however you can. Keep up the good work and I do hope that you educate the victims on how to avoid the temptations the next time it arises.

  6. I was once tempted to get a payday loan, fortunately I did not. I would probably still be paying it back. Luckily I was able to just borrow some money from a close friend. Great article by the way. I feel as though many people will benefit from this information.

    1. Hi, Malcolm!

      That was the best way to do it and I am glad you did not get trapped like many do!

      Thanks for stopping by and keep making wise decisions!

      Shawn>>

  7. I get a sick feeling in my stomach whenever I hear pay day loan offers. It is one of the scarier traps around.
    I have a relative who has accumulated debt with credit cards.
    Debt consolidation is probably the solution for him too.
    Do you have a company that works with clients in Australia?

    1. Hi. Janelle!

      I am not aware of any right now. but I will take a look for you. I will let you know what I find!

      Shawn>>

  8. Before the 1970’s it was criminal to charge the amount of interest that payday loan lenders now charge, but now it seems everyone is doing it.

    When I was an Army intelligence officer many of the people in my company lost their security clearance because of a payday loan. It’s criminal so may people’s lives are ruined because of these loans. It really is.

    Fortunately, there is help.

    1. Hi, G. C.

      I remember those days and you are spot on. Sorry to hear about the security clearance being pulled, I guess that would really be the clincher.

      I know many payday loan companies target the military and their families and it is just not right. Maybe we can make a difference here!

      Thanks so much for stopping by!

      Shawn>>

  9. Thank you for sharing this information with us. This is something everyone who finds him or her self in a pay day loan trap needs.

    And just like you said, the more days you delay the more interest on debt you accrue.So it is good to know there is a company out there that is willing to get people out of this trap. thanks for sharing this info

    1. Hi, Fidel!

      Yes, we are here and we will be until this kind of debt is all gone.

      Thanks for stopping by and for the compliments, we love to hear people approve of what we do here!

      Shawn>>

  10. Wow what a great website and article. Thankfully I haven’t had to go down this route myself but you provide so much information and in a helpful, sensitive, caring manner in that I’d feel happy contacting you for help! You must offer a great sense of relief to a lot of people struggling out there!

    1. Hi, Sammi!

      Thanks for stopping by and your kind words.
      We have helped many people get their debt taken care of, and we will continue to help until these loans no longer exist!

      Shawn>>

  11. Great information. I need to refer your site to a couple of friends I know need this type of help. Loans are sometimes needed, but if you don’t have a way to pay them back they can be a nightmare!! Alot of people, especially when they are young, do not know the effects payday loan debts can have on your life. I’m glad there is some type of help out here to get out of the rut.

    1. Hi, Whinnie!

      Thanks for stopping by and thanks for spreading the word that we are here!

      We would be more than happy to help anyone who may need it and we love seeing people walk away with zero payday loan debt!

      Shawn>>

  12. Hey there Shawn,
    I’ve been tempted to borrow loads countless times already but I held back because I believe there’s always another way to find funds without getting loans. I have heard many stories of people getting scammed with the outstandingly high interest rates that they were not able to pay back and in the end, they keep paying and paying like nobody’s business their whole lives. Thanks so much for sharing this, it really helped confirmed my suspicions. Bookmarked you page!

    1. Hi!

      Thanks so much for stopping by and yes, we love helping people. It is so easy to get caught in the payday loan trap and getting out of it can be a very expensive journey.

      That is why we are here, to help decrease and eliminate people’s payday loan debt.

      Shawn>>

  13. I have used payday loans a few times and I can attest to the vicious cycle you get into. Fortunately, at the time, I had a great paying job and was able to pay them back. The times when I was unable to pay was a nightmare.

    You are right, at first, it’s not so bad. But then the fees keep adding up, till you are double what the loan was originally. It is so convenient and easy to get these and therefore, people do it, not realizing what they are doing exactly.

    I’m so glad you have this service and wish I would have known about it when I was in trouble with my unwise decision.

    1. Hi, Jean!

      Yes, it does get really ugly for the borrowers and we will do our best to help them when they are in need of it.

      Thanks so much for stopping by!

      Shawn>>

  14. Hello, Shawn.

    I know of a few friends who have applied for pay day loans but have struggled when paying back the money due to high interest charges that leave people worse off and put them out of pocket… This then has a knock on effect when they get paid from their jobs as they end up borrowing more until it spirals out of control.

    Thanks very much for the article and will pass it on. Neil

    1. Hi, Neil!
      Thanks for stopping by and yes, you have nailed it right on the head.
      That is why we are here, to help those who end up getting trapped!
      Shawn>>

  15. Hello, Shawn. Great article. I have had offers from loan companies to give me an advanced loan. I am so glad I didn’t get involved with any of these companies. Thank you for sharing this very valuable information.

    1. Hi, Peggy!

      You made the right choice!
      It is so tempting to go ahead and get the easy money but in reality nothing is ever that easy, lol
      Thanks so much for stopping by!

      Shawn>>

  16. Payday Loans are so predatory! I feel so bad that people are in a situation of having to resort to people like this to put food on the table. Payday loans should be illegal. Thank you for having information here to help out.

    1. Hi, Heather!

      I agree that they should be illegal and in many places they now are, BUT, the online companies that are based out of the country get away with it anyway.
      Thanks for stopping by!

      Shawn>>

  17. Very informative blog post. The video is entertaining and made some really relevant points. Keep up the good work!

    1. Hi, Mike!

      Thanks for taking the time to stop by.
      That is what out mission statement is all about, educating and helping people until there are no longer any people that need help with this left!

      Shawn>>

  18. Thank you for all the good tips I have been on the wheel of misfortune with payday loans and it sucks. Just pay them off and get away from that scam they nothing but trouble.Better yet never ever go to them in the first place. If you can’t afford to buy it don’t take a loan to pay for it. Save your money and buy it with cash.

    1. Hi, Dan!

      You are right on the money and I could not agree with you more!
      Avoid these sharks at all costs!
      Thanks for stopping by and helping spread the word on these crooks.

      Shawn>>

  19. Hi Shawn:

    I read this post and am glad there are resources available to those who get caught in the trap of payday loans. It is sad how so many companies prey on struggling families by dangling this carrot in front of their face and then slam dunk them with outrageous interest rates. Thank you for providing assistance to those individuals who find themselves in these unfortunate circumstances.

    Stephanie

    1. Hi, Stephanie!

      Yes, they simply are out to cash in on others misery and misfortune.
      As long as they keep writing these loans, we will be here to help people that fall prey, but better yet, we will keep trying to ge tthe word out to completely avoid them altogether!

      Shawn>>

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