The best New year’s resolution I have made this year! No, I already quit smoking years ago. I don’t drink I don’t Gamble. I have no vices. I mean that sincerely. So consequently those are not my New year’s resolutions. I have nothing to quit. My New year’s resolution is a resolution of another kind. I have promised my family and myself that it’s time for me to get my stuff together and to get out of debt.

Yesterday I filled out a form online with this company whose blog I’m posting on now and that form I filled out was a form that will consolidate my payday loans for me. Yes, my payday loans. I never thought that would be me. I especially never thought that would be me paying 600% interest per year on a small balance $1,000 loan. I knew when I took it out it would be hard to repay…. So I filled out this form yesterday and received the call first thing this morning. I was told by the representative that I spoke with, who incidentally is a certified credit counselor that I could be out of debt is less than a year at an interest rate of 0%. She told me her company is able to work with my creditors or in my case creditor and they will reduce the interest rate on these high-interest loans to 0% as long as I make my monthly payments on a timely basis. I can afford $80 a month. I can get out of debt within the next year.

I’m not going to get caught up in the cycle of rolling over payday loans to pay off payday loans and staying in debt for the rest of my life. I know people that have done that. I need to be free from this burden of payday loan debt. This is something that I owe to my family and something that I’m going to complete and that I will never do again. The thought of paying 700% interest on a payday loan is insane. Truth be told I take full responsibility for taking out these payday loans, but I was desperate. Although I do take the responsibility, and I take it seriously because I’m going to pay this debt off I still really can’t believe that these companies are legally allowed to charge me somewhere between 200 and 700% interest on a short-term loan. When I took that loan outback 3 months ago it was freezing outside and they were going to turn off my electricity. I was desperate and desperate people sometimes take out payday loans. I’ve learned my lesson. I’m not doing this ever again and today is the first step toward making this year and next Christmas really lovely. By then I will be debt-free!