Your Questions About Payday Loan Store
December 22, 2011 by Loans Guide
Filed under Payday Loans
David asks…
What can I do about this Payday Loan?
Late last year I ran into some financial troubles and pulled out payday loans from PLS. The first loan was in October for around $450 and they charged me 701% interest. Then in November when I was having trouble with some of the payments they advised me to take out another loan, however this amount was larger so I could pay some of my other bills that were falling behind. This loan was for about $850, some of which they took to use towards my payment to them on my other loan. The interest rate on this loan was 702%. At this point I am much much further in debt and unable to continue making payments on either of these loans. They have been calling me on a daily basis stating they will garnish my wages etc. I have been researching some of the laws and I know I am able to revoke my wage assignment agreement so they can’t garnish my wages. I have read that Illinois state laws do not allow payday loan stores to give more than one loan at a time and they are not allowed to charge more than $15.50 per $100 loaned in interest. What are my options for dealing with these loans.
My husband and I have had severe financial troubles the past few months, and now that he has lost his job we are barely getting by with our rent/utilities/food costs. I realize now the HUGE mistakes we have made, but at the time the loans seemed like a good way to stay above water. Like I said, HUGE mistake. If anyone has had any experience with payday loans in Illinois I would greatly appreciate the info.
Loans Guide answers:
Only a court can garnish your wages. Most payday places have the legal procedure down to a science. Don’t think your going to outsmart them, you are NOT the first one to be in this position.
They want their money, expect to hear from them, often. Talk to them, ask them to freeze the debt & try to work out a payment plan. Expect to have to pay all of the principle but try to negotiate the interest & penalties as that money is not realized until it is collected. Be polite, expect no sympathy, they have already heard it all. Let them suggest a settlement price & work from there.
L am unfamiliar with that $15.50 per $100 rule. Keep in mind the debt = principle + interest + penalty + service charges. It may help to go over the statement per line, & per debt, not as a lump sum.
Joseph asks…
can payday loan stores garnish your wages if you don’t repay them?
Loans Guide answers:
Yes, but like everyone else they have to take u to court first. If they get a judgment in their favor the can do all kinds of nasty things to you. Garnish wages, liens on property, grab money in bank accounts. You should really address why you would ever go into one of those loan sharks’ shops.
Richard asks…
Payday loan?
I took out a payday loan on 10-1-06. They deducted 2 payments from my account on 10-16-06 and 11-1-06. I had all of the information on my computer. About 5 days after they took the second payment I lost my checks and had to closed out the account and open another account. That very same day we had an electrical problem at work and everyone lost everything that was stored on their computer. Now I don’t have a phone number for them to call them so that I can just pay the loan off by sending them a check. I barely remember the name of the company who I have the loan with. All I can remember is that it was some kind of group financial or something like that. Now I don’t know what to do. I have been searching the internet to see if I could run across it somewhere or maybe see a company that may be them. What would you do in this situation? They have my phone number and address but they have not called me nor have they written me about the payday loan. It was for $200.00
Loans Guide answers:
Check with your old bank, they can tell you who the payments went to. Then try to get in touch with the lender and save copies of everything you send and recieve. You might need that stuff to prove to the credit bureau that you mad a sincere attempt to pay the loan.
Donna asks…
i need to know where i can get a payday loan that doesnt do telecheck/teletrack?
an actual ONLINE COMPANY will be a great help. but i do stay in houston so if anyone knows a local payday store that DOESNT do telecheck please let me know thanks!! 
Loans Guide answers:
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Mark asks…
Can a payday loan store boot my car for nonpayment?
I got a vehicle registration signature loan..I’ve been paying it for 2 years and the interest is killing me, I can’t do it any longer. But the place I got the loan from is telling me they will boot my car if I don’t pay them…is this legal??
I want to add, that I’m not just ignoring the debt…I’m going through debt consolidation, and I have 1 payday loan store that is not cooperating..they are the one’s who want to boot the vehicle..the reason why they don’t repo is because my car has a lien from a bank, and they cannot legally take the car..that’s why they want to boot the car…to force me into paying on their terms..so I’m wondering if they can do this, even though I’m paying this debt through consolidation?? sorry for not being clear..
Loans Guide answers:
Sorry your having a tough time with this, but if the car is collateral for a loan which you signed for – and unfortunately you cannot pay; then, yes I think they could boot the car. My one reservation is why would they boot it and not just come and get the car (repo)? It makes me wonder if they can’t repo the car; then, maybe the payday loan store did not properly secure the loan with the car? Again, if they did and you were not paying – then it seems to me they would skip the “boot” and go straight to repo? Did you save your paper-work on the loan? See what it says to be sure. They might be harrassing you beyond the rights of the loan conract, in which case if they did boot your car they are hoping you don’t raise a fit and instead are intimidated into paying (which you should do if you can since you did borrow their money). Study the loan papers yourself (closely) and then go see if an attny will help you pro-bono to get the payday loan shark off your back. I hate that the interest is likely really high on you and will pray you get thru it ok….
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Tags: Need To Know, Interest Rate, loan store, phone number, payday loan, debt consolidationYour Questions About Payday Loan Lenders
November 19, 2011 by Loans Guide
Filed under Payday Loans
Mandy asks…
what are chances for payday loan lenders or credit cards other then your banks sueing or taking u to court ?
Loans Guide answers:
When you take out a payday loan you sign a contract with your signature which outlines your obligation to pay. If you do not pay the loan back, the payday loan company has every right by law to either deposit your check they are holding, and if they money is not there you are charged NSF fees and then taken to court, sued and if granted a judgement, your wages are garnished. Payday loan companies are there as a “convenience” loan to help when you are short on cash. When abused, you get in the bind of not being able to pay them or pay any of them and results in a suit against you…then goes against your credit.
Ruth asks…
Why do most people have such a negative view of payday lenders?
I am a payday lender.
I see so many people posting how bad payday loans and payday lenders are and how they rip people off, threaten or hassle people who do not pay.
Like in any industry, there is the good and the bad operators. I would like to see the bad ones removed more than most. I strongly believe there is a need for payday loans to assist those individuals who cannot get a loan elsewhere or those who need funds urgently until their next payday.
We have many clients and have never threatened anyone. Our contracts are extremely clear and simple to understand and contain many warnings. We also believe we are the cheapest in the market but still charge high rates.
We send the standard letters if clients do not pay and forward accounts to our collection agents if they do not respond. We do not continue to add fees and charges once it gets to collections which is within a few weeks of the final due date.
I don’t think this is being unreasonable. What do you guys think?
Loans Guide answers:
People who take out payday loans are, in general, irrespsonsible with money to begin with. Most people go to payday loans not out of emergency, but to cover or buy things after they’ve already spent their paycheck. Now when they can’t make their paycheck last even until the next paycheck, when you add repaying a payday loan, they are now short even more and it snowballs into more and more payday loans. Makes a victim out of people who cannot properly manage money to begin with. Easy cash = easy trouble for consumers.
I’m not saying there is no good intentions ever. I’m going by looking at my customers and how they use them. They always get in trouble and payday loans ends up making their situation worse. Some are just in tears. One ended up with 9 payday loans. A loan – even a small one – isn’t usually the best thing when people have financial problems. If they are having financial troubles, adding to that is not helping them.
Donna asks…
legitimate payday loan lenders?
are there any out there. i am in a bind and don’t want to be scammed. thanks
Loans Guide answers:
I do not know about direct lenders. When I was in the situation of getting loans, I applied at https://payday-advisor.com/?affid=4601 Just try your luck at here may be you will get satisfied with their service.
Mary asks…
Best direct payday loan lender in USA?
it seems there are several options to get a payday loan but i heard direct payday lenders are pretty good to have a deal for loan but i dont how to find direct lenders.
Loans Guide answers:
See this site to get loan http://bestpaydayloancompanies.com
Susan asks…
What happens if you get a loan from a payday lender but cant pay it back?
I wrote a check to one of those payday loan places but my check didn’t clear my bank. Does anyone know the process of paying it back?
Loans Guide answers:
Get out your contract NOW and read all that fine print you signed. You are now going to be hit with additional fees. Realize this is NOT just a check that did not clear. Your bank will charge for the NSF check (about $34) AND the payday lender will charge for the returned check (could be $25 or more) if they redeposit it again and the funds are still not available your bank will again hit you for the NSF check (another $34) and the payday lender will send it to an attorney for collections (additional attorney fees).
Call them and make good on the debt immediately, as you can see, the debt can rack up quickly beyond the fees your already being charged.
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Tags: guide answers, Loan Companies, financial trouble, best thing, pretty goodLegal Ways To Avoid Bankruptcy
August 4, 2010 by Loans Guide
Filed under Bad Credit Loans
If you have problem in your financial situation and your choice is to settle as the way to remove your money debt obligations, then don’t worry, you can easily avoid bankruptcy. There exist numerous legal ways using which you can avoid bankruptcy. But the only thing you need to do is to take help from legitimate financial firms that specialize on this kind of problems.
For the moment crisis is finished and the economy begins to earn financial profits. In recent year, the number of financial firms that offer legal help in the process of declining money obligations and debts of individuals has increased greatly. So it’s obvious that this year can be successful for debtors for the reason that they can easily apply to those firms for helping them to solve their financial problems. This kind of help is usually provided with high quality results, they can help you to lower your obligations more than on half. That means that if the financial firm will help you to lower your debts, for example on 65%, you must pay only 35% of your debt. That’s great, isn’t it?
If your case is proper and can be solves with the help of financial companies by lowering your money obligations and so your debts, that means that you are able both to avoid bankruptcy and also to protect so called credit records. In case if you have filed bankruptcy, that will have such consequences that your credit score will be found in the black list and surely you are going to have further financial troubles in coming future. If you have chosen to get help from financial companies to deal with your debts, that means that in your future will not be statement of bankruptcy, because those firms will show you the best and legal ways to get rid of your financial trouble and debts. There are two ways of how usually financial firms acts. Firstly, they can get a new loan for you for dealing with your money obligations. Second way is to lower your debts with a help of legal process of negotiation. That’s why it’s the best way to avoid bankruptcy and to get rid of your debt trouble without influencing on your credit report.
Nowadays, every single financial firm can guarantee to help you by providing reduction of your money obligations and debts minimum at half. Financial experts can invent some solutions and advices to make you see your debt trouble clearly, thus you can deal with it in clever way. In case if you will be guided by those advices and solutions which were invented by financial firms, then it is certain that you will avoid bankruptcy and your financial problems as well. Just pick out a good one to help you!
Almost all of us remember the times when it was possible to buy a thing even if one hadn’t got enough money. Loan was a simple way out. It is little wonder that now many of those who hunted for a loan, are searching for how to avoid bankruptcy.
Those people who happened to get into the condition when their expenses exceed their earnings, definitely have to search for ways to avoid bankruptcy.
If facing such difficulties it is smart to use any ways to get over it. Use such wonderful chance as the Internet technologies. Using them at full capacity could give great results. Making use of search engines, forums, social networks,web sites one will discover many tips to avoid bankruptcy and a great deal of other important info. Also signing up for RSS on this blog will help to be aware of new publications and tips on the topic.
Tags: debt obligations, money debt, National bankruptcy, Bankruptcy Abuse Prevention and Consumer Protection Act, United States bankruptcy lawMaking Some Steps To Avoid Bankruptcy
August 4, 2010 by Loans Guide
Filed under Bad Credit Loans
If one day you realize that you are up to the neck in debts, it may seems that filing for bankruptcy is the best and easiest way to solve this problem. Thus, but it doesn’t mean at all that bankruptcy is your best solution only because it is easy way. By the way, filing for bankruptcy can be even worse way, because it can bring you to bigger financial problem than was before. That’s why it is always the best way to escape from it using all possibilities and ways.
There are some reasons below of why bankruptcy can really be bad fact.
Don’t forget that bankruptcy can bring more detriments for your financial situation. For example, it will be quiet hard to get new credit or loan after filing for bankruptcy.
Despite the fact that property liquidation is not common for every single kind of bankruptcy, some of them still demand so called kind of repossession of property.
Don’t believe an opinion that bankruptcy will finish all your financial problems. It’s not a miracle cure at all. On the contrary, it’s just a beginning of whole row of financial troubles.
However, if your aim is to avoid bankruptcy and all negative facts connected with it, you can use some steps below.
First step can be called “consolidation of debts”. With existing situation with great number of bankruptcy statements, there is high quantity of consolidation companies that were established. This kind of organization helps you to manage your debts with minimum losses. As an example, they can advise you whom debt to pay from month to month, and also can make for you reasonable time plan of paying off your debts. This can open for you better outlook of how to work out paying even huge debt without feeling yourself stressed.
Remove every possible debt trap. Nowadays, credit cards can be used in almost every place and with quiet simple access to credit accounts. So it’s very easy to appear yourself one day to be up to your eyes in debts. Thus, one of the best lines to avoid bankruptcy is to rid you from all credits. Next step is not to use your credit card and it’s even better to contact your bank or other credit company for cancelling your credit amount. Try to limit your expenses, try to put more to saving account. And if it doesn’t work out, try not to spend so much. Maybe the best way to avoid debts is to plan your budget, where you allocate your spendings and incomes to see how to pay faster your debts.
The next step to avoid bankruptcy is contacting Debt Company. It’s common for people to ignore this kind of organizations that send us some bills. But it’s better to understand in good time that exactly those companies can help us to deal with our debts.
Almost all of us remember the times when one could easily buy something even if one had not enough money. Credit was a simple way out. It is little wonder that today many of those who applied for a credit, are searching for how to avoid bankruptcy.
People who happened to get into the situation when they owe more money than they have, definitely should search for ways to avoid bankruptcy.
If facing such difficulties it is wise to use any ways to get over it. Use such wonderful chance as the online technologies. Using them at full capacity might give great results. Making use of search engines, forums, social networks,web sites one will discover lots of tips to avoid bankruptcy and a great deal of other important info. Also subscribing to RSS on this blog will assist to be aware of new publications and tips on the topic.
Tags: credit cards, Insolvency law, Credit Card, online technologies, social networks, United States CodeFast Cash Online Ready To Help Needful Consumers
November 26, 2009 by Loans Guide
Filed under Fast Cash
Fast Cash Online. Whenever you are in some financial emergency, the one who help you out to come up with the bad situation will be your best well wisher. But your friends and relatives can’t help you all the time. So you have to search for some other option. In this way to get another online friend as payday lender who is ready to support you in your financial troubles. Although this friend charge you a lot for his financial support but that should be fine with you if you are getting the urgent money so easily and quickly.
Fast cash online is ready to help you right when you are in real financial trouble. If you are looking for some urgent and fast cash before your next payday and already asked some of your friends and relatives but all went hopeless, its better to come online to search good payday lenders and read all the important information before applying for fast cash payday loans.
The entire online cash loans application process is online, secure and very simple. You just need to provide some of your personal, professional and bank details and wait for the response, they will call you and after confirmation of your details, money will be transferred directly into your bank account. You can easily get the money that you require so urgently just sitting in comfort of your home.
We will be very happy to help you in providing fast cash advance at the time of its requirements; we require your contact and employment information along with your bank account details. A recent bank statement or a check stub with all the information we need. We use automated technology to process your application within 5 minutes, and once you are approved for the cash advance, money will be deposited into your account within a day. With fast cash online, you need not to drive around town to offices or banks, standing in endless queues and filling out lengthy forms. Our entire application process is online, hence you don’t have to fax copies of your pay check stubs or social security payments.
Online cash loans by us are a fast and convenient solution to financial emergencies. But, costs can add up if you don’t pay the loan off within the given time or borrow excessive amounts. You should be able to manage your online cash loan and repay it within the given time frame.
We can easily handle applications as well as deposits round the clock, so you are free to apply for a fast cash online with us at your convenience. We are also able to clarify any doubts you may have concerning our application process, interest rates or repayment plans, and you can contact us anytime through mail or telephone.
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Tags: cash payday loan, bank account, entire application process, bank statement, payday loan, Needful Consumers, Technology Internet
