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I live in Connecticut and fell into the payday loan trap! Once the finance charges for my loans go through tomorrow my entire paycheck will be gone. I currently have 11 loans out and can not pay any of them off. There are 2 loans that I have paid the finance charge for over a year now and another loan that I have been paying on since February 2012. I need to know how to get out of this trap, I am a single parent and can not afford anything right now!!
Payday lending is prohibited in Connecticut. All lenders in this state are illegal. You are required to pay only the principal amount to your illegal lenders. Don’t pay them any interest or fees. Close down your old bank account immediately and open a new one to stop debiting money from your account.