I made the worst mistake in my life and took out a payday loan a few month ago. I am a severe gambling addict and need help bad! Unfortunately, one loan turned in 3…. then 4…. And so on. As soon as I paid off a loan, they sent me another offer to take more money….. before the checks even cleared from the first loan. I know have 6 tribal loans from lenders not licensed in my state and 4 loans from non-tribal loan lenders who are licensed. I live in the state of Delaware and it is my understanding that short term loans cannot exceed 1,000 and lenders can only lend 5 loans in a 12 month period (and can only refinance a loan 4 times in 12 months). Apparently the lenders have to see if the customer already has a loan before lending another one, the loans have to be tracked in a database. I have hit rock bottom and have absolutely nothing left. I don’t know what I should do. Can anyone give me some advice?
The loans that I owe on are:
Max Lend- 4,000
Minute Loan- 1,500- not a tribal loan
Check n Go- 2,400- not a tribal loan
Ace Cash Express- 600- not a tribal loan
Blue Mountain Lending- 1,100
Advance Cash 24/7- 500- not a tribal loan
Uprova- 1,400
Plain Green- 1,000
Today Cash- 1,500
Crane Financial- 1,200
Almost everyone of these lenders have given me a short term loan or “line of credit” and given me money at least a half a dozen times each in the last few months.
It is my understanding also in Delaware that you cannot bypass the pay day lending laws in the state by disguising these loans as “lines of credit”
I am overwhelmed, drowning and feel completely hopeless. I am getting help for my gambling addiction but I have no idea what to do with my finances.
