My credit

Forum|Forum|7 years ago
September 27, 2018
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So i took out a title loan and i messed up! I originally took out 1800 to borrow and my monthly payments are $500 a month and everything and that's just for interest it's not going towards my principal I'm getting very overwhelmed they told me I have to pay more than $500 each month if I want to clear the $2,000 balance now that I have should I bail out or should I just wear the big panties and pay it off as fast as I can?? What are some methods I can use to pay it off faster because Christmas birthday is around the corner?

Carl11_2

$500 interest a month on an $1800 loan is well over 300% a year. I don't know of any place where that is legal. You may want to start by seeking legal advice on the terms of the loan from a competent attorney. Otherwise, start delivering pizzas on the weekends and get it gone. I know I was making just under $1000 a weekend delivering pizzas on Friday, Saturday and Sunday nights back when I fell on some rough times.