Your Questions About Payday Loan Scams

October 24, 2011 by Loans Guide  
Filed under Payday Loans

George asks…

How do I get out of these payday loan scams?

They are taking every penny I have and then some;overdrawing my account and leaving me with nothing, leaving me to live in the red. I know I shouldn’t have gotten them in the first place, but what can I do now? I need something to live on, money to pay my rent, but they are taking it all. They take all my money, all my direct deposit, every week and this is just to pay their crazy high interest rates, this doesn’t go to actually paying off the loan. I tried talking to them too (it’s multiple companies I borrowed from) but they mainly just pretend to help you by switching due dates around which doesn’t really help. Need help, need money to live on!

Loans Guide answers:

Close your bank account and file for bankruptcy.
It’s a life saver.

David asks…

Payday Loan Scam Now Local?

So I know the people behind these scams were originally from India or Nigeria, always with thick accents, but are Americans now starting to scam other Americans? I’ve dealt with the overseas guys about two years ago, and now today I get a call from a guy who sounds fully American, trying to do the same thing? I don’t know if I am just being paranoid, but could they be for real? Or just another payday loan scam, telling me to get an attorney, blah blah blah…..so sad if our own are now in on this horrid scam! Thoughts??
Btw: I googled the name of the company he said he was from, couldn’t Find ANYTHING! then googled the “company number” and it came up as a website design company, lol! My GUT says it’s a scam. The other number he called me from I think is a VoIP number because when I call it it rings a few times then nothing, not even a voicemail. So anyway, wouldnt a “reputable” company have AT LEAST a google result? Showing a number, address, whatever….?? Ran my credit, no unknown loans…. Just weird.

Loans Guide answers:

The first thing to do is run a credit report. If you did not take out a loan that doesn’t mean you are not an identity theft victim. A friend kept getting these calls assuming they were scams until she ran a credit report to find out that not only had someone taken out a payday loan in her name but also opened two store credit cards they maxed out

If you have never taken out a loan and there is nothing on the credit report, then you report the caller to the police for extortion which is illegal

If you did take out a loan and did not pay it back, they WILL take you to court and you are going to owe a LOT more than the original loan. You will also have to pay the collection agency’s legal fees which is going to cost you over $5000-10,000 when you lose. If you took out a loan and knew you would not have the money to pay it back on time and have made NO effort to work out a repayment plan with the lender, then you committed fraud and can actually go to prison for this. You can’t go to prison for debt, but you can if you intentionally set out to defraud a lender, which could be proven if the borrower made no effort to repay the outstanding debt. If you have defaulted then you do need a lawyer.

If you did not take out a loan, or you took one out but paid it back in full, then next time they call you have to only say “I do not acknowledge this debt. Per the Fair Debt Collections Act, I am demanding written proof of the debt be mailed to my home within 30 days. In addition, you are no longer permitted to contact me by phone and all future communication can only be in writing. If your company calls again, I shall be pursuing harassment charges.”
Then send a registered letter stating exactly the same thing and send it to the company who called you – keeping a copy of the letter and the delivery confirmation

Maria asks…

Are there any real payday loans out there that aren’t scams?

Hello. I am having a bit of a financial crisis (just like many others) and I was looking at pay day loans or even a regular loan. I dont need a crazy amount of money or anything. Do any of you have experince with a payday loan thats not a scam or small loans that work based on your income and not your credit? Any help would be greatly appreciated.

Loans Guide answers:

They’re not scams, but every last one of them charges exorbitant interest rates. The best place to seek a personal loan is your bank or credit union. If you’re denied, it will be for good reasons, and they’ll tell you those reasons – even though you may not like what you hear.

Mandy asks…

Can anyone sugges a secure, no scam payday loan site?

I need to get a loan very fast. So I guess the payday on is the best, but I dont want to get scammed. Suggestions please…..

Loans Guide answers:

Go to prosper.com. That’s the best site I know if you don’t want to pay the payday loan fees.

Jenny asks…

Help is this a Payday Loan Scam?

I took out few payday loans a few months ago to help pay for my daughters wedding. I was in the process of paying them back when my uncle died about 6 weeks ago. I had paid off most of the loans but I had to help cover some of the cost of the funeral and the automatic draft set up by the payday company overdrafted my account and was sent back. they tried to put it through a second time with the same results.
Now without any notice from the original company i have someone calling claiming to be a representative of that company telling my boss that they are going to file fraud charges. After calling them back the rep refused to give me the name of the originating company saying that if I talked to them then I would have charges filed against me. They want me to send them almost $900 dollars to clear the account.
I have talked to the loan companies I have borrowed money from as well as my bank and I don’t know who this company could be. This women just wants us to file an authorazation to take the money from my account.
I think this is a scam but I don’t want to get in any legal trouble…. what is your advice?
I am a nurse and having any charges filed against me means that I could lose my license as well as my job.

Loans Guide answers:

Sounds like bluster from a collection agency to me. Maybe its legit, maybe not. Either way, I would insist the woman send written documentation proving that you owe them money and why.

Also ask for her full name and business address. Usually that shuts them up, if not, you have something to take to your state’s Attorney General and the Better Business Bureau.

For future reference, ALL payday loan companies and collection agencies are skating on thin legal and moral ice.

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Discover Important Info About Online Payday Loan

February 22, 2010 by Loans Guide  
Filed under Payday Loans

Get secrets about online payday loans – Having a loan of the cash that you want to deal with your financial crisis and get a move on your life does not need to be difficult. A no fax cash advance is by far the easiest means to get the cash that you want instantaneously. We all are aware of that financial urgencies are frantic and nerve-racking. Submitting an application for a short term loan does not need to be a nerve-racking experience. Actually, it can and it should be the start of the answer to a financial crisis.

The procedure to submit an application for a payday loan is fast, easy, and trouble-free. In fact these days no fax loans are most opportune given that they do not have need of the borrower to fax any documents by any means to the lender. No fax loans are in particular intended for people that want cash at this very instant and do not have the time to run through all the formalities and red tape to get the cash that they want. If you do not have access to a fax machine by any means, faxing a number of papers will simply traumatize you. It should be part of the solution, not the problem, for that reason, you should make the most of several no fax cash advance payday loan that are available in the market if you want cash at this instant.

Cash advance payday loan are short term loans that are designed to assist people deal with unforeseen situations and get going with their lives. They are not designed to replace or substitute a long term credit like mortgage. For that reason, if you are seeking to finance a big item, like buying a new car, a payday loan is almost certainly not the most excellent financial choice for you. On the other hand, if you just experienced a short term financial crisis, like having a car repair, a more than usual utility bill, or a sudden medical bill, a cash advance payday loan is an excellent choice for you to think about.

Cash advance payday loan are short term quick-fix loans that offer logical and practical settlement terms. They are designed for individuals that have a short term financial crisis that need urgent concerns. No fax cash advance payday loans are the most practical and quickest means to get this instant cash. You just need to fill in an online application form and are approved within minutes for this short term loan and the cash is transferred electronically to your checking account within 1-hour at times, or at the most within 24-hours of your application, it’s that simple.

As soon as, you get the cash that you want confirm that your financial crisis is managed correctly and you are able to make a fresh start with your life and stop being anxious on how your financial crisis will be managed. Once you tide over your financial crisis you should start developing your financial status so that you do not need such supports in the future.

Read useful information about same day cash advances and no faxing cash advances.

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Pay day Loans Are Like Helpful Hands In Emergencies

January 26, 2010 by Loans Guide  
Filed under Payday Loans

If you are in a situation of deep financial crisis and you think that you might have to wait until your next payday to fulfill your crisis, then one thing which really can help you in this situation is pay day loans. Anyone who is getting fixed monthly salary is always in a trouble when he gets any emergency cash requirement. Especially if the requirement is very high amount, it is really difficult to arrange immediately. Family function, festivals etc are other situations where you really need help from someone to meet your financial crisis.

Payday loans are very useful and is basically a great help at the time when you are in mid of the month and you are facing financial problems. Especially if something emergency strikes you, you can really rely upon payday loans fully to take you out of the crisis. There has been many situation that a person who is in urgent need of cash has borrowed money from some loan shark who took advantage of the situation of the customer and charged heavy interest rate. Many court cases are still pending consisting of situations where the loan provider asks for double than normal interest taking advantage of the situation of the consumers situation. Not only this, also they are very strict towards retrieving the loan from these consumers and there have been cases where they even used power to take out their money.

This is the biggest advantage of payday loans as the lenders are very much open towards their customers and they show each and every details on the websites. So there is no chance that you will be cheated or the interest rate you are paying will be different for different situation. So you can really fulfill your cash need in any situation using payday loans. The process is very simple and you just have to fulfill an application form and submit it to the lender you want to go with. This will make you eligible for the loan and you can expect money into your bank account in a matter of few hours.

A better option for the consumers is to go with various payday loans comparison website which are a directory of various lenders operating in the country. You can get the full details of the each lender there and you can compare each based on various possible parameters. This will give you a full detail if the lender and based on that you can make your decision. Also you can read the review about the lender submitted by the consumers. This is very useful to get the social status of the organization offering payday loans.

Hence a little research can really make your life happy if you are applying for payday loans. Also the comparison websites are there to make your life easy as they can provide you all the information at a single place. Hence whenever you shop for pay day loans, you can take a more informed and positive decision.

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Go With Direct Payday Lenders For Best Interest Rates

January 12, 2010 by Loans Guide  
Filed under Payday Loans

If you are worried about high interest rate of payday loans, then you should look for direct payday loan lenders as you can save money on commission and middlemen involvement. So these direct lenders are cheapest and are very easy to find out using online search engines.

If you have emergency like unexpected car repair and do not have money in your bank account, these payday loans are really helpful. You can expect money in your account in hours and hence your car repair will be done immediately. There are many beliefs that these payday loans are expensive. But if you try to know the details, these are expensive only if you delay the repayment for a long duration. payday loans are framed for a short duration of time and the repayment has to made maximum within a month. So if you make the repayment on specified time, these loans are not at all expensive.

Now it is understood that when you have lack of fund in your account, you will expect to get lowest rate loan to meet your emergency. In such scenarios, payday loans are very helpful. But before applying, you should make a thorough research of available lenders. This can make sure that you get the best available rate in the market. Many websites are not direct providers of loan. They are basically affiliates who are working on behalf an actual loan provider. When you fill the application form via these mediators, there is a great chance that the actual lender will add the commission to be given to them in your loan repayment amount. You will never ever know these things and will assume that the lender has charged their normal rate. But finally you are in a loss.

So a bit of internet research for actual online payday loan lenders can be very useful for you. There are many comparison websites who are dedicated for this cause of comparing online payday loans. They also have all the updates regarding the lenders and their current position. You can also add you personal experiences with these lenders as well as you can view comments posted by other users. This can give you the basic idea about the payday lenders status among people.

You can also get the details whether the lender you are applying with is a direct lender or a mediator. If it is not a direct lender then this information will be surely mentioned in their disclaimer section. Other option is the use of comparison sites. They can also provide you the data whether the lender is a direct of an affiliate. So just a go through in these websites can give you details about all the lenders and you can make a better decision to meet your financial crisis.

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Bad Credit Payday Loan Without Credit Check Required

December 19, 2009 by Loans Guide  
Filed under No Credit Check Loans

Want an extra cash right before your next pay day ,you may want to think a payday application or even online loan check.Obtaining payday loan online is very easy , with no credit requirements .
Bad credit has nothing to do with disqualification from qualifying payday loan ,it means there is no need for pre-evaluation credit score.You can expense the cash for whatever reasons would be ,and the cash can be frequently deposited into your checking account upon application. All you got to do is checking account , and a secure proof of income and you can obtain up to 1000$ or extra amount.

online payday loan is outlined intended for short-term financial or urgent cash needs ,and inapplicable for regular lending base.The payment charged for payday loans can be as much higher than usual loan from the bank and can only be apply for impermanent and immediate financial crisis solution.Constantly to acquire pay day loans will be worth you a bunch of money if the delayed payment date happened many times or if you frequently borrow against your succeeding pay check.

If a short term pay day loan is the best option for you, you can be authorized and have
up to 1000$ or extra amount settled into your checking account often in the near future upon application.

Interest rates from payday online may alter from loan providers to loan providers. Discount rates may offered by certain lenders intended for former borrowers or even the new applicant borrowers.
After providing the pay day loan establishment with the information requested, normally your name,address ,employment and and banking information. You can be granted for about one hour and the money can seldom be in your checking account on that day.Regularly you may be demanded your latest pay check stub through fax and statement from bank prior to approval,but the cash can still be settled in checking account without hesitation.

Payday loan with bad credit should not terminate you from application.

The provided information will only be the basis for application ,no required checking of credits . If you have poor credit history somewhere else, then maybe do it in a gradual start to rebuild your darkened image.

They don’t even contact your employer or check credit reports, excluding the essential employment verification.

Approval and application is fast and suitable.Online loan providers can grant your application fast and you’ll have the money you want upon approval.

One of the best things about bad credit payday loans is that it does not involve with your credit history evaluation.

Bad credit gives privilege to hopeless borrowers ,from great loan providers.

Find out more pros and cons on how helpful the bad credit loan can be as financial assistance.

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