Say this happened to you. Hypothetically. Legal answers only.

Say, you were doing well but a company laid you off/Downsized you from work. So, you get no flowing income for awhile.Now let's say our Phone and rent are due soon, so what do you do? Take out one of those cash advance Payday loans. Then after awhile, you still don't have a job because you kept listening to a union rep saying you will get another job and it doesn't happen. So now you have a Payday Laon bill, Your Phone, and Your rent do on the 29th of December.

Now lte's say days before that, weeks even, you have been trying to apply for personal loans (online and off) and tryiong also to get other payday loans, but do not get approved due to continuous applications. When you find some online personal loan sites, you can't get improved for those (which would work wonders if you did) because your credit is to low.

So you actually have a chance to get a job interview but your phone is turned off all of a sudden (cell phone). So then, you try looking for loans for bad credit. After hours of searching you eventually find said site that can help you BUT your credit is lower than bad that lower credit sites.places won't give you a loan. Everything else you find is either a scam or will cause something like bankruptcy or related.

So now currently, you are running out of time running out of options, everyone is LITERALLY to greedy or self absorbed to give you a cent, you sold what was valuable and what you don't need and what you have to sell online would take to long to get money for and everything must be paid off my the 29th of December in the afternoon and you probably have only 1 are 2 days after that before your life becomes ruined beyond repair.

So what would you do in this situation? ILet's say the person doesn't have any answers and really needs to get out of the jam and the person needs honest answers.


At this point the 29th is gone and I am on a line. If I don't find away out of this then It will screw me over badly. If I find a solution, even just to extend the issue. I will be fine. The benefits will kick in.

An online Personal Loan would be a miracle in this regard, but I can't find any for low credit and all I see is payday, I can't fall for that trap twice so what do I do? I have like a day.

No, borrowing money with no way of paying back is the last thing you do.

You may have to move in with family till you find work, for a phone, there are several plans like the one at walmart for 40 dollars a month for unlimited service, ** depending on what you are now paying. I will assume you get unemployment.

Is there any money in a IRA or 401K that can be borrowed or taken out. You decide what not to pay, you don't pay credit cards or anything but have to items.
You find out about food stamps or other help if needed.
You find out about food banks and other areas.

First, please don't presume to dictate how people answer your posts. As long as they do not violate the rules of this site anyone can answer they way they see fit. Second, we are all volunteers here. We donate our time and expertise to help people. So giving someone an unhelpful rating just because you didn't like their answer is being unfair.

You said you wanted a legal answer, yet you did not pose a legal question. Your post details a problem with finances. The answer to that problem is deal with the issues much as Chuck suggested. The only legal answer is to file for bankruptcy, but given the scenario that will take time.

One thing that bothers me is talking about obtaining a payday loan AFTER being laid off. Well a Payday loan is in advance of a paycheck. If you obtained such a loan without the prospect of a paycheck you committed fraud.

Another point is why is is surprising that no one will extend credit without an income to repay the loans?

So the bottom line is you try to find help, either from social services, family members, charities etc. You try to find any means of generating income.

Not sure what else you think would be a viable answer.