| Author |
Message |
|
Options 
Bookmark online
|
fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
|
|
|
|
|
Wed Aug 06, 2008 1:34 am
|
|
|
| Yep I would agree there. I am pretty certian advertising isn't allowed. |
|
|
goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3927
10 Magic Points
|
|
|
fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
|
|
|
|
|
Sat Sep 06, 2008 2:08 am
|
|
|
| In other words Take a hike. We are trying to help people not get them further into ridiculous debt, like the type you affer./ |
|
|
peachroses
Joined: 12 Sep 2008
peachroses's page
Posts: 1
75 Magic Points
|
|
Subject: Payday Loan Relief
|
|
|
Fri Sep 12, 2008 2:48 pm
|
|
|
I live in the state of IL. I borrowed from an online lender. I ended up losing my job, found another within two weeks, however, the damage was already done. I am now in the red on my bank account by $784 due to the fees from my bank. Evidently, the payday loan company sends in a request for payment on the principal, a request for payment on the financing fee, and a request for payment on the NSF fee (all separately), so that is 3 fees of $35 for each request from my bank, totalling $105 everytime this company requests payment (every 14 days).
I found some Payday Loan relief advice from a website that said that you can put a stop payment on an electronic debit just as you can a check. This would keep my bank account from going into arrears too much more, and stay at an amount that I can pay it off easier (I would be able to pay back the $784 within the next month or two). And then I would be able to pay back the payday loan as well.
Is there any other advice that anyone could offer? I desperately want to get out of this payday loan cycle...I have been in it for almost 3 years now. |
|
|
fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
|
|
|
|
|
Fri Sep 12, 2008 3:04 pm
|
|
|
Peachroses, Have you looked and seen if payday or even internet lending is legal in your state. Believe it..some places it is actually illegal. I hope someone catched this post because I am sure there is a web site to check this out on. Also can you close the old checking account, so they never use that number again to get funds? I suggest even though you got the electronic debits stopped that you should go one step further and open a new account.
One last thing. I see you are new to the forum. Anytime you have a new question you should post it seperately in the ask the forum box. Many times older posts like this one are overlooked by many. New post always get a lot of answers and this would be the best way for you to get advise from many people. |
|
|
goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3927
10 Magic Points
|
|
|
fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
|
|
|
|
|
Sat Sep 13, 2008 1:41 pm
|
|
|
| Wow Great info GN. I was hoping this one would catch your eye. Hope this helps the poster. |
|
|
Shawn
Guest
|
|
|
|
|
Thu Oct 02, 2008 4:32 am
|
|
|
To the folks in Illinois. I know exactly what everyone on here is going through. We ended up with those stupid payday loans. Got one about to try and take me to collections actually. Only thing that scares me is where I work. Just got one large bill paid off. But still short. I know they don't want you to tell it, but I heard actually from a manager at a 14 day payday loan shop, that by law in Ill., if you tell them you are about to lose everything and can't afford it, they have to work with you. Ours they actually cut the interest off, we have to pay the returned check fees and the interest to that point, as well as principal. But then we are banned from borrowing from them. Freedom!!!
However, how do you deal with the 140 day installment loan people? I have one that they want to take me to collections. I'm working 2 jobs, 1 full time another part time, my wife does 50 hours per week sometimes and I'm still whipped because I'm paying nearly 1 grand per month to these places!!! |
|
|
fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
|
|
|
|
|
Fri Oct 03, 2008 1:55 am
|
|
|
| Try to get rid of them as soon as possible and once you do bank some of the money you use to pay into a savings so if this ever happens you will not need a payday loan. You can give yourself a loan and pay it back to your savings. I have been doing this technique and it really put me on the right track. I hope you can get rid of these monsters. I hate the money they charge just to borrow a few bucks. One thing is once people get caught up in the payday nightmare and then free themselves they not onlt feel great relief but never go that route again. |
|
|
Shawn
Guest
|
|
|
|
|
Fri Oct 03, 2008 2:36 am
|
|
|
| What I'm saying though is how can I talk to them and get them to stop my interest and work a payment plan with me? Because I'm so loaded with these things, if I pay them, I cannot afford my other bills. And those HAVE to be paid. |
|
|
babygotshoes
Guest
|
|
Subject: payday loans
|
|
|
Sat Nov 08, 2008 1:15 pm
|
|
|
| I am in a quick sand situation with payday loans right now. I need help. will they actually work something out with you. Should I try to pay 1 at a time |
|
|
goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3927
10 Magic Points
|
|
|
carol
Joined: 27 Jun 2006
carol's page
Posts: 1307
Location: Los Angeles, California
29555 Magic Points
|
|
|
|
|
Mon Nov 10, 2008 5:33 am
|
|
|
Hi Baby
Yes, you should start repaying these payday loans. If it is possible, you should repay back all immediately, because, these payday loans may push you to a debt trap because of the high interest rates. You can go for debt consolidation loans to repay off these debts as soon as possible. However, for debt consolidation loans you need to have a good credit score. If you do not have a good score, you can take advances from your employer and pay it off.
_________________
Keep in touch
Carol |
|
|
fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
|
|
|
|
|
Sun Nov 16, 2008 6:11 pm
|
|
|
| What happens though if employer advances are not possible? Thats why I conside these types of loans traps. Sometimes people only have enough money to keep making tghe minimum payments, especially if they are carrying more than one loan. You would have to default on one for a few months to pay one off. After that you would risk being sued. |
|
|
Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1240
28942 Magic Points
|
|
|
|
|
Wed Dec 17, 2008 10:41 am
|
|
|
The most important way to get rid of pay day loans is to optimize your expenditure. We spend most of our income on unnecessary consumption. If we can save a very small portion of our monthly income into a separate savings account, it will help us in case of emergencies when we opt for payday loans. Moreover, even if it is urgent and we take payday loans we must be careful enough to pay it back on getting our next pay check.
_________________
All the Best 
Justin |
|
|
Previous 1, 2, 3, 4, 5, 6, ... 12, 13, 14 Next 