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creditisbadnow
Joined: 16 Jun 2010
creditisbadnow's page
Posts: 17
30 Magic Points
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Subject: Pay Day Loan Trouble
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Wed Jun 16, 2010 8:13 pm
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I come here for some guidance on my credit cards and my credit report but as I have went through the site I notice that there are some folks here with a good working knowledge of payday loans and their collection practices. I currently have three payday loans, I am working to pay them off and get rid of them. I hit a real tough spot and had to, no choice, had to take them out. I have loans with the loan shop, 500 fast cash and with United cash loans, I just started paying $200 a check on the loan shop one because it never goes a way, I have one more payment and it will be done. Then I will pay the $150 to get rid of the united cash loan, by the middle of July I hope to be pay day loan free.
I just have not had the money to pay them off any sooner but am very greatful that I have it now, one at a time I will be rid of them. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3927
56 Magic Points
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Wed Jun 16, 2010 11:12 pm
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Welcome to the forum, yes there are a lot of people here who have had some experience with pay day loans. Seems like you have a plan to pay them off so it looks like you are heading in the right direction.
You may want to make sure that you try to stay in your budget once you are done paying them off so that you don't end up with them again. If you have questions please post them here and some one will come along to answer them. Goodluck, hope you get them done in your goal time. |
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Guest
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Subject: Look into ARK loans
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Thu Jun 17, 2010 4:54 pm
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| Find credit unions that offer ARK loans. They work like Payday advances but are much better. Its a flat fee of $6 and is based on a percentage of your monthly pay at maximum of $500. The catch is that the borrowed money needs to be paid off in full by your next pay day no longer than 30 days from when you got it. |
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creditisbadnow
Joined: 16 Jun 2010
creditisbadnow's page
Posts: 17
30 Magic Points
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Fri Jun 18, 2010 8:15 pm
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Thanks guest I would have no idea where to even begin in looking for a credit union that offers these types of loans, do you have any idea where I can access this information? Are there any that will let you do the application online? I am confident that I will be payday loan free by the middle or the end of next month, then I can play catch up with some of my smaller bills and start paying a little more on them to get rid of them.
I will check back and see if you left me the information that I need, I appreciate the information. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3927
56 Magic Points
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Fri Jun 18, 2010 10:46 pm
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| I am not sure where these credit unions are either, normally if you have bad credit and can not get a normal loan then I don't think that a credit union would take the risk of loaning you money either. I am anxious to see the answers to the questions, like where these credit unions are and if they are online. |
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creditisbadnow
Joined: 16 Jun 2010
creditisbadnow's page
Posts: 17
30 Magic Points
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Wed Jun 23, 2010 2:17 pm
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I have always gotten mine online and did all the verification through a fax line and across the telephone, I will be relieved to have these off my plate, it sickins me to have to give all this money away for nothing but at the time when the need was there I did not have much choice.
I was looking at my financial life this morning and it is looking good for paying them all off by middle of next month then my pay check will be free and clear to pay other bills. Just love life, bills, work, bills, work. There is light at the end of the tunnel, hopefully I can have this all done in my goal time. |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1889
1387 Magic Points
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Subject: credit
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Wed Jun 23, 2010 2:43 pm
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| yep...dealing with PDL's can be horrible. Just seems like 'you' can never gt them paid off. All the fees, etc.......geez!! At least you sound like you are taking care of you debt..good for you!! yes, you're right..."there is a light at the end of the tunnel." |
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creditisbadnow
Joined: 16 Jun 2010
creditisbadnow's page
Posts: 17
30 Magic Points
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Wed Jun 23, 2010 3:38 pm
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It has been a long time for me to get in a position to be able to pay them down or off, with the fees on them and then it seems like something else always pops up just when I think there is going to be some relief. Like this year I have to pay into the irs because I did not change my information on my w9, so now I am on a monthly payment plan with them, really stinks, can't get a head for nothing.
I am definately getting rid of at least two of these loans and will work on the other a little each pay day and should be done with all of them soon. Now if I can just keep myself on track and not get carried away or some unexpected need come up everything should be cool. |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1889
1387 Magic Points
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Subject: pdl
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Thu Jun 24, 2010 2:34 am
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| We all get into financial probelms (ain't that the truth!!..LOL). And, I know it's really a temptation to get PDL's....but don't!! On the PDL's, that I had trouble with, I was paying more than double what I barrowed ('extention' fees, etc). Glad your taking care of them...then leave them alone!! (Just some 'personal' advice). |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3927
56 Magic Points
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Thu Jun 24, 2010 11:24 am
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| They can really rip up your financial situation they are nice in the beginning it is when you default that you see them turn into jerks, I have had dealings with some real winners when it comes to the payday loans. I wish you luck, looks like you are on the right track to getting it all straightened out. Hopefully you won't have to borrow from them again, you need a plan. Put back a few bucks for emergency each month, if you need money borrow from yourself and then pay yourself back intrest, guarentee it will be lower than a pay day loan lender. |
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vfsalinas05
Joined: 24 Jun 2010
vfsalinas05's page
Posts: 61
996 Magic Points
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Subject: Loans
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Thu Jul 01, 2010 1:57 am
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| Instead of using payday loans, I opted for installment loans that are reporting on my credit. They are fairly easy to obtain, I have horrible credit and was approved for 300 dollars. I paid the first one off soon, renewed it and make extra payments...They are in six months installments and my credit has been going up little by little...I had no good credit at all so this is helping me rebuild it... |
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creditisbadnow
Joined: 16 Jun 2010
creditisbadnow's page
Posts: 17
30 Magic Points
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Tue Jul 06, 2010 6:43 pm
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If you don't mind who did you get it through?
What are your payments a month on a three hundred dollar loan?
Do you have to have a bank account it get one?
How long have you had the loan???
I am a member of a credit union, wonder if they have anything available for me? |
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teal
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Subject: pay day loans
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Tue Aug 17, 2010 5:30 am
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| I know little about pay day loans.Pay day loans are not bad as such.Pay day loans are really helpful in short interval of time. |
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Aaron
Joined: 08 Feb 2010
Aaron's page
Posts: 2675
48567 Magic Points
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Subject: pay day loans
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Tue Aug 17, 2010 9:14 am
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Hi Teal,
It is true that you can get quick money from payday loans. But payday loans come with high interest rates, and most of these lending companies are illegal. Moreover, payday lending has been banned in some states. If you take a payday loan to pay off some part off your debt, rather than lowering the debt amount you will be all the more in debt.
Thanks,
Aaron
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tracy
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Thu Aug 19, 2010 11:47 am
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| Payday loans are good for short term.These loans are easy to get.I know much about payday they are not as much bad. |
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