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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4493
8662 Magic Points
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Sat Nov 15, 2008 3:39 pm
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| Thats just not even anywhere near a good idea. If you use fake stubs to get a loan chances are your doing it because you do not have a really good paying job for the loan amount you will be talking out. This is considered spending above your income. Sooner or later they will fing]d them selves trying to struggle with paying bills and loans that they can not pay which will lead to delinquent debts and a bad credit report. We all know how long it t akes a person to rebuild a bad credit report. Not a good idea at all. |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1498
107 Magic Points
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Subject: credit
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Sat Nov 15, 2008 4:00 pm
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| TOO many people try to 'keep up with the Jones'. Trying to get things they KNOW they can't afford and trying to get loans with income that they DON'T have. I know things are tough......but, they DO get better. |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4493
8662 Magic Points
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Sun Nov 16, 2008 6:08 pm
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| That becomes a big credit trap right there. Like the ones who constantly trade in a vehicle with out ever paying one off. Pretty soon your stuck with an old clunker that you owe three times the value on. Messing around with these types of credit traps can reallt lead to bigger problems. |
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Lisa P
Joined: 01 Dec 2008
LisaP's page
Posts: 2
50 Magic Points
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Subject: Do you think, it is?
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Tue Dec 09, 2008 11:06 am
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| Every consumer must always be aware about this matter. Scam is very prominent doing of some fraudsters. Some people claim payday loans are predatory. I don't think they are and I'm the one who has to use them at times. I would suspect those who make the predatory lending claims, don't have the financial emergencies that I've had to deal with. And, the ones who make the claims are misleading and, quite frankly, wrong. For example, some claim payday loans to have an interest rate of 361%. To explain simply, if I take out a payday loan for $100 dollars on a two week term, I would end up paying back somewhere between $115 and $130 dollars or about 15 to 30% of the borrowed amount. This means I would pay back and extra $15 to $30 dollars. That is less than a late mortgage fee of $75, which a payday loan could save me from if I am a hundred or two short. It's also less than the bounced check charge of $32 that my bank charges. Payday loans are a great service for a great price. Click here to read more on payday loans. |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1498
107 Magic Points
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Subject: credit
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Tue Dec 09, 2008 7:05 pm
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| So, LISA...are you 'advertising' PDL's? yes...we ALL have had our issues with PDL's. But..........we are ALL trying to straightened our issues out. But.........do you think it's a good idea to 'praise' the? |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4493
8662 Magic Points
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Tue Dec 09, 2008 10:02 pm
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| Lisa, sounds like you found a payday lender that isn't too bad. Now that amount of interest would double if you took the borrowed the money for longer wouldn't it? Just say perhaps you had to pay it back in two installments then you would be paying back 60%? I have seen ads on tv where theinterest rate can be as high as 99.9%. There aren't always good payday lenders out there. My outlook on them is not good but of course I have not had to deal with them either. I would think that it would all boil down to who you went to or which lender to get the money and checking their fees. |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1498
107 Magic Points
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Subject: credit
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Wed Dec 10, 2008 6:39 am
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| DOC......you actually have PDL's on your site? Does that mean you actually RECOMMEND PDL's? Or........is it just information to give to the 'consumer'? |
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Lorri
Joined: 15 Jul 2008
Lorri's page
Posts: 297
196 Magic Points
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Sun Jan 04, 2009 8:46 pm
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The thing about PDLs is that they are a good idea in theory, but not such a good deal in actuality. In other words, if they were used exactly how they were designed to be used (for an emergency loan---to be paid off at payday) then they work great. The problem is when you go to pay it off and it is much easier to pay a small "finance" charge or fee and pay it off next time---which usually ends up being a situation that snowballs. And then it just becomes another bill that you have to pay. My advice on PDLs--avoid them at all costs if possible.
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"Never give up on someone you can't go a day without thinking about". |
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Mary
Joined: 06 Jul 2006
Mary's page
Posts: 730
17417 Magic Points
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Mon Jan 05, 2009 11:15 am
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Yes, you are right Lorri. I too agree with the fact that if we had paid off the payday loans on the payday, it would not have been a problem. But the payday loan situation is different. We mostly go for payday loans during emergency and sometimes the amount of the loan is so high that we cannot pay the entire amount on getting the paycheck and we wait for the next paycheck to pay it back. Within this interval period, the high interest rates on the loans takes the outstanding debt to a very high level and we fall in debt trap.
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Where there's a will, there's a way !! |
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Lorri
Joined: 15 Jul 2008
Lorri's page
Posts: 297
196 Magic Points
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Thu Jan 08, 2009 7:05 am
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And I would imagine that the people that usually use the payday loan services, typically don't have the access to a credit card cash advance, savings accounts, to access emergency funds, etc.
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"Never give up on someone you can't go a day without thinking about". |
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HB
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Subject: This slimeball
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Sun Aug 23, 2009 1:37 am
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| The IRS and the FBI are onto this SOB and will nail his ass to the wall for promoting loan fraud. Use his software (se Fakepaycheckstubs.com) and you might wind up in the cell next to his. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3996
1079 Magic Points
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Sun Aug 23, 2009 11:30 am
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Using fake documents to get a loan or really for any purpose is fraud, I would not want to get caught doing something like that, that has to be a federal offense, especially if you are using the internet and crossing state lines with the information.
I would not even attempt this. |
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Metal Master
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Subject: Fake check stubs
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Sun Oct 11, 2009 12:08 am
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| Honestly, who cares. If I want to make a fake, vanity paycheck stub showing I made $1,000,000 my last 2 week pay period working for, oh lets just say, The Queen of England, then who cares. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3996
1079 Magic Points
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Sun Oct 11, 2009 4:22 am
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It is fraud, if you are actually taking out a loan or doing some other financial transaction using this documentation. Most places make you sign stating that all the information that you provide is true and correct.
I would not use it, I believe you could get yourself in a world of trouble by doing this, it is falsifying documents. |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4493
8662 Magic Points
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Mon Oct 12, 2009 1:04 am
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I agree. This is what helped get the economy where it is today. A bunch of loans being given out to people who could not afford them. If you really could afford that house or loan then why would you need fake pay stubs to get it? How about looking further down the road and thinking about what happens when a person can not meet the payments. I bet then they would wish they had used honesty to begin with. It may have helped keep them from making a big mistake.
If the real pay stubs are that shameful then get a new job with better pay..waa laa...bigger pay stubs. |
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