Payday loan nightmare

[richyx65]

I don't know how to get out of this mess. Because of a big electric bill two months ago and some medical bills I hadn't counted on I took out a payday loan for $500. I am living on less than a thousand dollars social security income and with some juggling around and paying the loan off when my check comes in I have been able to manage thus far. However the problem is the day after I pay off the loan I have to get another loan in order to pay the rent. This has gone on for two months and because I am disabled and retired it is hard for me to pay off this loan. I cannot take out another loan because of state laws and I have exhausted charity help in my area. I am a gifted portrait artist and would concider doing some portraits in exchange for some help. This is not easy for me to ask but can someone help?

[Admin]

We usually recommend starting with a non-profit credit counselor. If they can't help, then we recommend other options like for profit companies, debt settlement, etc. Credit counselors can usually advice on payday loans, and provide other key financial eduction and information, and some advice may be free for income qualified people. Find a listing of credit counseling agencies. Yes, sounds like you are in that terrible payday loan cycle if you say you need to take out another loan to pay rent, pay off first one, etc. Also look into other programs for electric bills like LIHEAP too.

I don't know how to get out of this mess. Because of a big electric bill two months ago and some medical bills I hadn't counted on I took out a payday loan for $500. I am living on less than a thousand dollars social security income and with some juggling around and paying the loan off when my check comes in I have been able to manage thus far. However the problem is the day after I pay off the loan I have to get another loan in order to pay the rent. This has gone on for two months and because I am disabled and retired it is hard for me to pay off this loan. I cannot take out another loan because of state laws and I have exhausted charity help in my area. I am a gifted portrait artist and would concider doing some portraits in exchange for some help. This is not easy for me to ask but can someone help?