Thanks for the support GT. Today was the first day of being my mom's financial manager, and we are off to a good start. I went in to see a financial advisor this morning (thank you Army for providing tons of free resources!), and based on his advice I'm not going to take on $15,000 worth of debt to pay off my mom's payday loans.
I am going to loan her $3000 so she can pay her June bills (like the mortgage and car note), and the payday loans will just have to wait. Apparently when you are in serious financial trouble and your credit is already screwed, the best plan of attack is to pay the necessities (like food and utilities) and secured loans (because they can foreclose your house or repossess your car), and leave the unsecured loans for later. Once I get her June bills caught up, I will contact the payday loan companies to set up an installment plan.
I called the bank and opted out of overdraft protection- meaning they will decline any charges if she has insufficient funds. What has happening previously is that they would let the charges process, giving her a negative balance, and incurring multiple overdraft fees. I also talked them into refunding the last 3 overdraft fees, which was a $102 refund! Then I processed stop payments on all of the pending payday loan charges, which means her account should be back in the positive by tomorrow.
Now I just have to get her mortgage account information so I can call and adjust her "workout*" agreement. Fortunately my supervisor is very understanding, so I'm able to make phone calls during the day, and he let me leave early.
*A workout is any agreement between you and the lender which changes how you pay your mortgage. I learned this term today- the financial advisor gave me a book called "Surviving Debt: a Guide for Consumers" and it has been very informative. I've always had good credit, so this is a new experience for me.