Loans Guide answers:

UHH?? I’VE USED SEVERAL OF THE RIPE OFF PAYDAY LOANS, BUT NEVER ENCOUNTERED SOMETHING LIKE THIS… YOU REALLY NEED TO CLOSE THAT ACCOUT AND OPEN A NEW ONE. IF NOT, EVERY TOM, DICK AND HARRY MAYBE GETTIN EM SUM FREE MONIES….. THEN PUT STOP PYMT. ON THAT CHECK AND MAKE PYMTS TO THAT LOAN COMPANY TO GET THEM PAID OFF…

Loans Guide answers:

A couple of issues…

The website did not steal your information. You typed it in and gave it to them.
Was there anything on the application that stated that your personal information would not be shared with anyone else? Lots of sites will sell or share e-mail lists with other companies, resulting in spam mail.
The violation I see offhand is the attempted entry into your bank account. I do not know how detailed the records are that your bank keeps, such as the address/name of the entity that was trying to access the account. Also bear in mind that you gave the loan site your bank account number. Did you read all the fine print? There may have been wording in there stating that by giving them your account number you were authorizing them to access the account. You need to be very careful about throwing around that information.

I seriously doubt that your computer has been hacked. The issue started after accessing and leaving information on another site, so if anyplace was hacked, it would be the website.

Loans Guide answers:

I’m sorry that you appear to be yet another victim of the “cash advance cancer”. With the new stricter predatory lending laws in place, protecting consumers the carnage left behind from these “sharks” should cease.
I can not advise whether it would be beneficial for you to pursue bankrupt.
I would recommend that you look into it as only a last resort – remember those laws have changed as well .
Your young enough to make a financial recovery that does not involve having that on your credit record potentially harming you more than a few paid collections that will disappear 3 years earlier that a bankruptcy – a without the stigma.
Meanwhile, I wish you well on your recovery from the shark bite.

Loans Guide answers:

You always have an alternative to loan sharks, there are charities and companies that can help you.

Loans Guide answers:

I honestly do not think the bank can legally give your financial information to anyone or place of business without a conscent form signed by you. Unless while applying for the loan you signed an agreement to have your savings withdrawn in the event of nonpayment of the loan. (which I doubt considering it deals with checking accounts and not savings). The only account number the payday loan co has is your checking and you since have closed it. I will tell you that by not paying the loan you have created a big problem for yourself. The payday co has a legalized document signed by you and your promise to pay. It will go to court and it will cost you BIG TIME!!! They then will cease your savings and possibly garnish your wages by holding a judgement against you. This happens every day to many people who end up in the payday loan trap. Be smart and don’t let it go this far. You will end up paying three times the amount of the loan including late fees and court costs. As far as the unknown hidden costs you speak of. When applying for the loan you should have gotten a reciept or paper explaining the costs, interest, and the due date.

Loans Guide answers:

No lawyer will ever threaten you with jail time. There is never any jail time, unless there is outright fraud and that would be up to the district attorney. Notify the FTC (Check under Credit and Loan/File a Complaint). It is against the law what the company is doing. You can write to them and tell them not to contact you again, once they turn it over to a collection agency, they will stop, except for to sue you. If they win they can garnish your wages, that is all.

Loans Guide answers:

Angela,

ChecknGo and CheckCity are two that are actual companies and not just a site sending your application out to several different lenders.

However, check out BillFloat.com as well – they are MUCH cheaper than a payday loan (about 1/9th of the cost), and still lend to people with bad credit (and do so quickly) – much better option than a payday loan.

Loans Guide answers:

Well, you won’t go to jail unless your committing some kind of fraud.

However, I don’t suggest you take out a loan to pay another loan. Becauase then your getting charged interest off the principal you used to pay the interest and principal of the last one.

I advise you to get a job and just be honest with your lender rather than just keep taking out credit lines. Eventually your credit history will be shot to hell and no one will take a risks on you.

Loans Guide answers:

Hi
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Good luck..

Loans Guide answers:

With an APO address- I assunme you are military. Go to the finance offices and talk to them. Also, there are many many organizations that will provide you a short term loan as a military member. Worse case scenario, go up your chain of command and see what they can do to help you.

Loans Guide answers:

I would suggest that using any service offering anything associated with or involving Pay Day Loans is detrimental to your short, medium and long term financial stability.

Stay away from anyting involving Pay-Day Loans and Title Loans no matter how desperate you may think things are.

Loans Guide answers:

Is it wrong to prey upon financially strapped folks by trying to sell them stuff?

Type in google:

“poor credit loan rates”

Loans Guide answers:

Hello,
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• Quick online approval
• Excellent customer service
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Good luck!.

Loans Guide answers:

They are all scams. Besides the payday loans which are a very desperate option, you could try to increase your credit rating if that is possible. It takes 6 months to a year to do so if you can wait that long. If you can’t you can always borrow from family or friends. The thing is if you don’t pay it back then you are in deep trouble.

Loans Guide answers:

Check it out here. It’s an excellent site with some wonderful options for you. It will definitely help you. Have a look.

Http://loan-house.we.bs/unsecuredloans.html

Loans Guide answers:

While I agree with the poster above, let me answer your question. You’ll need capital to start making loans. You can get this from friends and/or family. You’ll need to apply to become an S&L with your state as well as file to incorporate.

After that, you’ll need to set up shop by leasing some retail space, buying signs, creating a brand image, getting a business license, etc.

Loans Guide answers:

First step, no matter how bad you need the loan, do not take another pay day loan. Find a 3rd job if need be, but this is the first step to getting out of the cycle. Next see if you could find a friend or relative who will help you out with a loan that has better terms than 99%. Also I would look into opening an account at a credit union, and then asking them for a loan, they seem to be easier to get than typical banks. If all the above does not work, I would just start to pay back the loans asap to avoid paying all that interest. I know this advice seems obvious, but I hope it helps. There are also a lot of websites online that have loans for bad credit ( not sure if you have bad credit or not, just assuming)

Loans Guide answers:

It’s bad enough that you resorted to a payday loan but to have no documentation … Well, they can probably do all sorts of stuff to you.

Call back whoever you initially spoke to and ask the to email the documents. Or at least verify where your payment is suppose to go. That’s where to make payment.

Pay this thing off and never, never, never use a payday loan again. Are you aware the interest rate is more than 300%?

Loans Guide answers:

If you are telling me correctly, it looks like you paid your payday loan and then some. Get the statements and mail copies to the collection agency that you don’t owe them anything. Even if you had to go to court the statments are your proof of payment.

Loans Guide answers:

Go read the discussion about them on this forum:

http://www.debtconsolidationcare.com/paydayloan/progressivedebt-relief.html

Seems some think they are the best thing since sliced bread while others feel they have been duped.

The thing is, it sounds like they do what a lot of debt relief companies do — they have you pay into an escrow account (minus their fee) and when that is large enough they start trying to settle with the PDL’s.

Loans Guide answers:

They add on late fees and send it to collections. It will cost you way more in the long run.

Those guys are legal loan sharks, pure and simple.

Loans Guide answers:

Calculate the default rate = (historical performing loans) / total loans

Multiply that by the open checks.

Loans Guide answers:

Hi,

I found some leading and reputable payday lenders that approve instantly. The best thing is they offer 50% discount on finance fee for new customers. There are very few in market who offer this.

If you refer a friend to them, they will pay you $100.

Check it out at

http://bit.ly/DiscountAdvances

http://bit.ly/PayDayMax

Good luck

Loans Guide answers:

The account is probably with a 3rd party debt collector. Pull your credit report to see who has the account. You can get a free credit REPORT (not score) at http://www.annualcreditreport.com – This is the real free site to get your credit report once a year without a credit card.

Guide to paying defaults on your credit report: http://catdadsblog.wordpress.com/how-to-pay-collection-accounts-on-your-credit-report/

Many collection agencies are very aggressive. Be careful. You never know how any one collection agency or debt collector will respond. Some might greet you like a long lost friend, while other debt collectors/agencies will view you as a sap who deserves to have your bank account emptied.

Loans Guide answers:

First, they will continue to pull the money out of your checking account which will result in bounced check fees and, potentially, being reported to Chexsystems and having your account closed.

If they can’t get the money out of your checking account, they will jack up your rates, charge you late payment fees and basically add on hundreds of dollars in charges.

They will report to the credit agencies as collections and probably sue you. Yes, they will continue to charge you interest.

You really need to try to get a loan to pay these off and NEVER do this again. These places charge 300-500% in interest and are one of the worst things you can do financially.

Check out prosper.com if your credit is still decent.

You need to get a 2nd job to pay these off and make sure you cut out all extra expenses (booze, cigarettes, eating out, internet, phone, cable, gym, etc.).

Get this taken care of before it ruins the next several years of your life.

Good luck!