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You can’t. The legislature is letting the law that allows these expire.

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None……predatory lenders………….

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NO NO NO NO NO NO NO NO NO NO NO
DON’T DO IT. YOU ARE ACTUALLY FAR BETTER OFF PAYING WITH A CREDIT CARD. THOSE STORES ARE DEATH TRAPS.
STAY AWAY I PROMISE YOU WILL THANK ME

The Expert answers:

If you defaulted your loan from a checking account or debit card you CAN be arrested for fraud not for owing the money. You should never allow a stranger access to your home whether he’s a bill collector, serial killer or whatever. There is a big difference between being arrested and being taken to court. The creditor (or collector for the creditor) can do alot of things if they are operating legally. They can get a court order for a judgement to garnish your wages. They can prosecute you for the fraud of writing a bad check. They can call you for payment during certain days and times. They can call you at work until they are advised not to. They cannot threaten you or harrass you. They cannot divulge your information to others. Payday loan companies are actually legal loan sharks. Your first mistake was signing up for the payday loan. Your second mistake was “forgetting” about the loan. Don’t make a third mistake by letting them drag this into a garnishment. If you thought you had money problems before this nightmare, you ain’t seen nothing yet. You should not have forgotten about this debt. It’s time to clear it up and move on with life but you need to get more credentials on Tony than just his name and a phone number.

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Fax less payday loans, do a search on that and will get ALOT of results

The Expert answers:

Http://www.CashCall.com

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You will be fine. But try to pay it because it can go on your credit report

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Https://www.checkngo.com/default.aspx
But be really cautious because these kind of places charge huge interest rates and require payment in as little as two weeks.
To qualify you must meet these requirements:
- A regular, verifiable source of income
- Minimum monthly gross pay of $800 (before taxes)
- 18 years of age or older (residents of Alabama and Nebraska must be 19 years of age or older)
- Open active checking account with direct deposit in your name
- Not currently a debtor in bankruptcy or intend to voluntarily file for bankruptcy
- Meet various state-specific guidelines
- Valid email address and phone number
You may be able to do a fax less loan, depending on what state you live in.

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No, it will not affect their credit.
They will just get annoying phone calls and demand letters for years to come.

You know they will eventually sue you.
I’ve seen these bills triple by the time this happens.
They can garnish wages or go after your assets.
This will ruin your credit.
No loans, not even a cell phone contract for years to come.
And, employers check, so do landlords and even car insurance companies.
Try not to avoid this bill.

The Expert answers:

Have you tried loan consolidation?

Anyway first go to each loan and make sure what you are owing. Problem with a lot of people who took out payday loan is that they don’t even know how much they are owing right now

Try to negation with them a one time payment. As you’ve already known paying them back month by month will never end. The only way to end this is to seek a one off payment. Make sure if you two reach an agreement, put it on a contract

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NO Payday loan is good. They are all the same, A HUGE RIP OFF .

Also, a good resource is…

Http://www.surveyland.org/jump.php?link=loan

Best of luck to you.

The Expert answers:

Wow…..those are some hard tactics. OK, first of all they can arrest you. They can however send this through the court system and garnish your wages. Most of the loans through these places are at 200-900%, plus any fees and incidentals that are incurred in order to process the garnishment. You should be able to do your own search on the address for this business. You should be able to obtain a copy of the bill. It sounds like they are giving you a line to get you over there to pay. Do not sign there paperwork. If you make payments, then they cannot apply to the court for the balance to be garnished; they would have to keep re-doing the papers with the correct amount shown. If they tell you that they cannot accept your payment, they must consider the amount as is and cannot increase the amount in order to file with the court. There are by-laws out there to protect the consumer too. Go to your local state website and do a search for consumers. Don’t play the timid mouse; know your facts and don’t let them intimidate you. Use the information about your rights as a consumer to work it the other way. If you can’t get a copy of the bill, more info on them and they refuse to release, then tell them that you will take it to one of the local news stations and have them investigated.

The Expert answers:

Collections are collections. You have to understand that collectors usually threaten you so that you’ll pay up. Technically even if it is an officer, you can’t be jailed for your debt so I very much doubt it was an officer anyways. Its probably just a greedy bill collector. The point is that they will try to use all these scary tactics to scare you into paying.

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It definitely depends, it pays to check around. This site lists a bunch of online companies http://www.nofax-paydayloans.org/

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It’s easy for people to say ‘don’t do it’, but if you are desperate for cash and you have nowhere else to turn then a pyaday loan can get you out of trouble.

The trick is to be absolutely certain to pay it back as soon as you get paid. That way you keep out of trouble. If you let it extend, then you’re in deep doo doo.

This website has lots of information and advice. I hope you find your answer. Good luck!

The Expert answers:

It was someone spamming an affiliate link or trying to scam you.

Please, do NOT use payday loans unless A) They are your last resort, and B) You KNOW that you can pay it back.

A few things to expect include paying it back on your next payday. Some states are different than others, so at least make sure it’s legal to hold a payday loan in your state. If it’s not, do NOT use online lenders as they will rip you off. This site gives state laws:

http://www.paydayloanlaws.com/

If you DO decide that you need a loan. PLEASE use a reputable company. The companies belonging to the CFSA are probably the best to use. Check Into Cash is one of them. If you want to apply online, make sure they loan in your state by calling 1(877)577-7977. Otherwise, they’ll give your information to another company, unless you opt out of that of course. It is a great company that will treat you right. Read their FAQ section as well.

The Expert answers:

Well, first thing is, have you learned that Payday Loans are not a good idea. You pay too much for them. I would read the contract that you signed and see if there is anything that you can do. If not, you did sign a legal binding document and you’re held liable for it. Now rather than file a suite against you and pay legal fees you could offer them to pay them a little every week. I’m sure they’ve hear the story a thousand times and they might accept it. Good luck.

A site I’ve recommended in the past would be…

Http://www.knowledged.info/go.php?link=loan

Hope that helps.

The Expert answers:

Check the sites thoroughly. It’s an excellent site with some wonderful options for you. It will definitely help you. Have a look.

Http://payday-loan.we.bs/

Good Luck…

The Expert answers:

Well it all depends on how much these loans are and if you are paying them off or have good history on paying them. You can always check your credit yourself and see how it looks. My husband and I did that before being pre- approved for a loan. It is important to know your credit score.

The Expert answers:

Before I even begin to answer I just want to say, I don’t know how much debt we are talking about here or what your current situation is, but if things are that bad you need to seek the help and advice of a good credit counselor or possibly even a lawyer….

When you took a payday loan you signed an agreement that allows the lender to access your wages for failure to pay once they have allowed you adequate time for repayment.

Don’t let the loan go unpaid no matter how hard it will be to repay. In most states payday loans are charged at what is called the “usury” rate, or maximum rate allowed. (In NJ it is around 28%)

Call them and make what ever arangements you can to repay. They are only going to take the money anyway.

A tele-check is a way for any merchant to accept a check over the phone. They get some basic info about your checking account and they can draft the payment electronicaly, with your concent of course. I STRONGLY ADVISE AGAINST YOU EVER ALLOWING A CREDIT COLLECTION AGENCY ACCESS TO YOUR CHECKING INFORMATION!!!

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You will usually have about 15-30 days to pay it or they send it to TRW to appear on your credit report…as well they will still continue to try and collect from you.

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Nope

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Report him to the police. If he’s threatening to show up at your home, that is a threat to your well being. Record and save these messages for the police to protect yourself.

You entered into no contract. An application is not legally binding and from what I can tell, you did not accept any money. He has no grounds to sue you, this is simply a scare tactic designed to get stupid people to open their wallet. No one sues over fifty bucks, it would cost him more than that just to hire the lawyer to draft a letter.

What is the name of this company? Please tell us.

You have nothing to worry about. Change your number though. And if I were you, I’d buy a membership to one of those identity credit protection companies, to make sure this company doesn’t try to steal your identity. They sound extremely shady.

The Expert answers:

Have you tried to “unsubscribe” from the emails?

The FTC also has advice on how to limit email spam and report those who do not honor unsubscribe requests and/or do not have an unsubscribe option.

Http://www.ftc.gov/bcp/menus/consumer/tech/spam.shtm

Also, there is a National Do Not Call Registry that will keep everyone but non-profits from contacting your home and/or cell phones https://www.donotcall.gov/default.aspx.

The Expert answers:

I have used them several times they are quite horrible. They give you the money and then take a portion of your paycheck every time it direct deposits. Say you borrowed $500. They would take $150 out of your check for the next 5 pay periods then take $50 out about three pay periods making about $1000 off the $500 you borrowed in three months. Which is like 2000% interest. Borrow it from a friend or take crap from your parents for borrowing it from them it’s cheaper.

The Expert answers:

You’ll be charged much more, don’t go there!

The Expert answers:

These are illegal threats. No debt collector has the power to send the sheriff out to collect a debt. Many debt collectors are under extreme pressure to meet quotas to keep their jobs…so that’s why many of them skirt the laws in order to collect on old defaults.
Normally, you should pay your obligations…but you should not deal with or pay collection agencies that engage in illegal tactics like this.
- Get a tape recorder and start recording their calls. When they call, read the following disclaimer:
- Be advised this call is being recorded. If you do not consent to being recorded, you need to terminate this call. Continuation of this phone call after officially being informed that it is being recorded implies consent to be recorded. This recording will be used to pursue Fair Debt Collection Practice Act violations in a court of law.

The Expert answers:

They can sue you for the money plus interest, they can have the court order/enter a judgement against you to pay them back all the money, interest + legal fees. If they are very nasty they will wait until the amount goes to above the smalll claims court limit then take you to big court and sue you for more, they can alternatively sell your credit to an annoying agency who will call you day and night, show up at your work, and tell everyone you know that you owe them money (including your boss, family, friends, etc). They can also go back and investigate yoour loan application and if they find any false information on it they can give it to the police and charge you for fraud if either they or the police find you lied, they can ruin your credit, this can also increase your cost of other credit cards or cause you to loose credit altogether. In some states it is a crime to write a check with nsf or insufficient funds so that alone could be enough to land you 90-180 days in jail. They can nail you for fraud if for example you realy do not have a job or your pay check is not what you said it was or if you misrepresented things on your application.

The Expert answers:

Hi Joe,

My experience with a Payday Loan was horrendous, but slightly different.

I got the loan because, like everyone else, I needed a few dollars ($400) to tide me over until pay day, which was that Friday. I was going on vacation.

9/11 hit, and I ended up not needing the cash, due to cancelled flights, etc.

They would not let me pay off early.

That was the first, and last time that happened.

The Expert answers:

The banks are the ones underwriting payday loan co. Try borrowing the money to pay off the payday loan co.
My son took out a payday loan of $800.- for a car repair. By the time he told me about it it had ballooned into $4,860.-. I paid it and the found out about that industry. APR was 460%.

The Expert answers:

Why don’t you go a head and get the name of a good bankruptcy attorney while your at it. ?

Every day someone asks about payday loans.

Everyday the answer is the same.

Please look for another option. I strongly encourage you to think twice before you do this. I see so many lives destroyed over what started out a 200 dollar payday loan and ended them in BK court.

Kourtnie
Prosperity Financial

The Expert answers:

That is the worst way EVER to borrow money. Their interest charges can rack up to 900%. They feed off the desperate. Don’t let it be you.

The Expert answers:

Unless it’s a life-or-death situation, or food, or shelter, why would you want more pay-day debt??

The Expert answers:

Starlaritter, I have never been to those pay day loan offices..I hear their interest is sometimes pretty high. Some people work with an understanding boss or manager, so small loans through work might be possible. However a lot of people are too embarressed to ask anyone they know for help, so online companies can help. Http://www.americaschoicetoday.com/Payday-Loan.html

The Expert answers:

Well theres plenty of Payday loan companies online, but i’m assuming you are looking for the “best” website out there. To me the best means the cheapest and I know which site is the cheapest cause I got a loan there before.

Http://www.spotya.com

there only $15 for every $100 borrowed. Good Luck.

The Expert answers:

At this site you can find offers from different lenders

http://loansandrates.notlong.com

I hope it helps you.

The Expert answers:

You will not qualify for a loan. Scrimp and save, get another job, sell some unused items, put in for an early tax refund. Payday loans are the worst predators for gouging people that don’t have other options.

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Check this resource – http://www.badcreditresources.com/fast-cash-loans.html – it has a list of lenders that specialized in providing loans for people with bad credit.

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Do what you can to pay it off. That’s all you can do.

Things are tough all over the country right now.

If you’re going to a payday lender you already have bad credit.

Good luck.

The Expert answers:

At looking at some of your other answers, be very careful about advance loan scams. A couple mentioned in the answer sections are involved in these. First and foremost, do not pay any upfront money for a loan. It is illegal in the United States for lenders, private or otherwise, to ask for upfront money prior to giving you the loan (have the money in hands) Do not give your personal information unless you are sure it is a legimate business.

Ask the potential lender questions such as verifiable name, address, phone number and if in the United States, where they are licensed to do business and the license number.

The scammers can be awfully smooth and often use leg. Sounding names. So be careful. Good luck to you.

Also check out the website Crimes of Persuasion which has excellent information about loan scams.