Loans Guide answers:

From your posting, you don’t have a debt consolidation company. You have a Debt Settlement Company (DSC). Major, major difference. Here’s what debt settlement companies do.

Debt consolidation companies do not exist. They may exist in name, but they are truly Debt Settlement Companies.

You pay money into a DSC account. About 3 months worth of those payments go to the DSC for “administrative fees” to set up your account, etc.

They tell you to stop paying your debts and instead pay money to the DSC. They use that money to establish an escrow account (after you’ve paid the administrative fees). They make offers of payment to your creditors. If the offer is accepted (for less that what is owed), you’re done with THAT debt.

The DSC makes promises that they cannot keep. They will promise you that they can settle your debt for less than what is owed. Actually, they have no control over that. They will try to settle your debt via “extortion” saying to your creditor, “What we offer is better than nothing because if our client (you) files for bankruptcy, you’ll get nothing.” (or something like that).

With that statement, your creditor will probably begin court proceedings to get a court order to seize any cash assets you have to settle the debt IN FULL.

If the DSC can’t make a settlement, you continue to pay until they can. If you don’t, their obligation to you is ended. You get no money back because through creative bookkeeping, your finds were consumed by other fees and collection costs.

Just Gooble “pitfalls ripoffs of debt settlement companies”

Loans Guide answers:

I know someone who worked for a payday loan.

If you are using a payday loan company, your credit must be bad.

My advice … Don’t renew it. If you don’t renew it, they can’t recharge you interest. Simply tell the person that you don’t have the money, but that you really, really want to pay the loan off and that you take it seriously. Make regular payments WITHOUT renewing the loan.

Payday loans don’t send your account to collections for two or three weeks. Once collections calls, tell them that you are very sorry and that you are working really hard to pay the loan and when you can you will renew the loan. BUT DON’T RENEW THE LOAN until the loan is just under 2 months overdue … But ALWAYS make payments down on the loan every week or two.

Always reassure them that you will be paying down your loan and bring money as frequiently as possible. It’s better to bring $300 in incriments of about $75 each time spread over a week or two. The number of payments will show that you are really trying your hardest. If you swear at them or hang up, they might send you to court. If you appoligize and tell them you are bringing in a payment in a few days they won’t send you to court, most likely, until after 2-3 months after the loan is due.

Never pay the interest amount in one day. So if your interest is $200 per two weeks, bring in $150 and tell them you will try to renew it in a few weeks. Then a few days later bring your other $150.

Whatever you do, don’t bring enough to pay the entire interest at one time. Bring an amout under the interest, then later that week paydown more of the loan.

P.S. Take all of your money out of your bank account. If they find the money in your account with a funds availabiltiy check with the bank they will take it ! Go to the bank before your cash advance company opens for business on a payday. You might want to get a second account at a different bank where you take your funds out of your one bank account and bring it to another … Or have your direct deposit /check deposited into the new account temporarily so the payday loan sharks can’t intercept your money and then you don’t have any money for bills.

Good Luck

Loans Guide answers:

I’ve been in your place before and had to suck it up and borrow the money from my parents(I was 23). If you don’t pay them, they will get a judgement against you and garnish your wages:(. I really don’t know about any of these places that say they will help you, but nothing is free and I wouldn’t put to much faith in them.

Loans Guide answers:

I think that will be difficult, I don’t promise anything but
perhaps you’ll find some help here :

http://credit-cards.ebookorama.com

http://credit.ebookorama.com

http://credit-repair.ebookorama.com

and here http://finance.ebookorama.com
good luck!

Loans Guide answers:

Please, please, PLEASE whatever you do…DO NOT take out another loan to pay off payday loans! You cannot get yourself out of debt by creating more debt!

Most of those “payday loan consolidation” places are a scam created by the very same predatory payday lenders themselves! You will find that they will not only take your money, but none of your payday loans will be paid off and you will end up in even worse financial condition
—————-
Visit the forums at http://www.debtconsolidationcare.com/ to get completely free help, advice, letter templates, and contact info from others who have suffered with the same financial stress you are going thru.
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Loans Guide answers:

This is the last place for a faxless payday loan you will ever need to go.

I don’t care what people say about it, this company saved my neck!

You’ll love them too: http://s291231972.onlinehome.us/tried/nextpayday.html

Believe me, I HAVE actually been duped so I know!

Loans Guide answers:

You are right! Dont you have recognized the fact that this online media is marketing based, this is like a network that is targeting an actual resource but through people doing marketing.. What is Google, its favoring those people who adopt its marketing strategy, indeed its an online way of doing business. So dont expect some bankers that come to fill up your payday loan requirement because they dont deal. Yes, this payday loan business is in hands of private lenders and what these private lenders are doing they have been utilizing marketers to help them finding their clients. Thats why you are not getting direct link towards direct payday loan company you are looking for.. But if you could get a web site that offers payday loan, try to fetch the external link.. You will find the landing page from the direct lender.

I hope this will help you in finding your answer.

Regards

Loans Guide answers:

I would recommend http://www.advanceloan.net/

You could get up to $1500 in as little as one hour by applying for a quick cash loan. Furthermore, low fees, nothing to fax and bad credit ok are their pros

Good luck

-Michael

Loans Guide answers:

If you want to find the cheapest payday loan company, try this site

http://cheappaydayloansapply.com

Here you can get information about cheap payday loans in your area, its the best way to find an affordable payday loan with a reliable company…

Loans Guide answers:

My advice. This is a great victim that has ever happen to me in my live, but I will not allow such to happen to you too, I have got scam four time, to obtain a loan from Lender but they all fake. Some one hear introduced me to a company which I don’t believe I can even get a loan from there, because I believe there all same scam, but I letter came across there are good lender today, I obtain a loan of $ 50,000.00 from the company, and I will not allow such victim should came on your way, I will use this hour to introduced you to the company, via they E-mail (mark_mcdonard@yahoo.com) Mark. There are 100% legit, and I believe there will help, because there do same for me.

My advice

Loans Guide answers:

You should go to your local financial institution to seek help. They may be able to help if your credit warrants it. Normally I require security on that type of loan.

Pay day lenders are the hardest credit to eliminate.

If the local lenders cannot help, contact your local Lutheran Social Services or Catholic Charities office. They have debt consultants who have had some success in paying these types of lenders off.

Loans Guide answers:

You can negotiate and work out an installment plan with the IRS. And that may be the better way to do it vs. Getting a loan.

Loans Guide answers:

What do you mean by “get in trouble”? You won’t get in any more trouble than you already in, and you are in enormous financial trouble.

You can’t borrow your way out of debt. Your situation is only going to get worse. Payday lenders are vampires, and now that you have let them get their fangs into you they will bleed you dry at 400% interest.

Eventually, one of them is going to realize you cant pay everyone, and they will sue you and get a wage garnishment.

Get a bankruptcy attorney now, while you still can. An attorney must be paid before they will file your case, so you need to begin the process sooner rather than later.

Nearly all consumer bankruptcy attorneys offer free consultations. Take advantage of this to meet with one and get advice based on all of the details of your particular situation. You can find a referral at NACBA.org (National Association of Consumer Bankruptcy Attorneys).

Loans Guide answers:

Can you hold on for just a bit longer…you obviously work or payday would not have loaned you money in the first place…why not use your tax refund money to pay this off.

Loans Guide answers:

That really depends on the kind of debt consolidation programs you are referring to. Debt consolidation comes in many forms, such as credit counseling, debt settlement, debt consolidation loan etc. But as far as I am aware, not many of these options will not deal with pay day loans (except for maybe a debt consolidation loan, wherein you are applying for a another loan to pay off your current ones).

But don’t lose heart, there are ways to deal with payday loans. These small loans, also called “cash advance loans,” “check advance loans,” or “deferred deposit check loans,” are a frequent pitfall for consumers. A fee anywhere from $15-$30 per $100 borrowed is charged for an average loan of $300. With rates so high and the term of the loan so short there’s no wonder that a very high percentage of these loans are rolled over by the borrower again and again so that the accumulated fees equal an effective annualized interest rate of 390% to 780% APR depending on the number of times the principal is rolled.

The Federal Trade Commission offers a great Web page regarding payday loan alternatives at: http://ftc.gov/bcp/edu/pubs/consumer/alerts/alt060.shtm

There are eight states whose payday loan regulating statutes requires lenders to set up an installment repayment plan if an account reaches the maximum number of rollovers allowed by law and the debtor declares that he/she is unable to pay the balance due.

Check out the payday loan information from the Consumer Federation of America for payday loan information (http://www.paydayloaninfo.org/), where you will be able to read all about these loans and the various state attempts to regulate them. Follow the “state information” link to find out the specific regulations for payday lenders in your state, and if you live in one of the eight states requiring installment payments.

If your state does require repayment plans, and the lender still won’t accept payments, call your state regulator of payday loans, usually an assistant Attorney General, and complain. You should get the results you want after the Attorney General’s office becomes involved.

If you are not in one of those states, you may want to consider simply making payments to the lender anyway to pay down the balance of the loan over time. In most states, the rollover limit will soon be reached, and the interest rate the lender can charge will be capped by state law. If the lender will not accept your payments, simply put what you can afford aside until you have enough money to either payoff the loan or to offer a settlement. Read the regulations in your state to find the best strategy for your situation.

I wish you the best of luck. I hope that the information I have provided helps you Find. Learn. Save.

Best,
Bill
http://www.Bills.com