My Payday Loans troubles

Deborah, Vancouver, BC, Canada

My credit was always ok, until my ex-boyfriend stopped paying child support. He had gotten laid off and all of a sudden I was short $400 at the end of the month for rent.

Cash was always tight, so this was too much. I decided to get a Payday Loan. I had gotten one from a cash advance store several years ago. It was too expensive, but I did pay it off in time at my next payday. But this time is different.

This time I decided to get one online, it was hard to find a company that would take canadian payday loans on the internet. Almost all of the companies where from the US.

My loan was for $500, and I thought I could pay it back once I got my next cheque. But 2 weeks later it was the same and I had to get roll over my loan.

After 2 months I had 5 payday loans, and the fees were now all I could pay. They were calling me at home and at work to pay. I don't think they were allowed to call my boss but I am sure they would of if they could.

Now it is 2 months later, and my ex has managed to make this months child support payment. But there is no way I can get out of this hole without getting a better job or filing for bankruptcy.

So once I used a payday loan and it was fine. They should only be used if you know you will be able to pay it right back. Otherwise you will end up in a big hole like I did.

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