Your Questions About Payday Loan Scams
January 11, 2012 by Loans Guide
Filed under Payday Loans
Nancy asks…
Are payday loan websites legitimate?
I am trying to get a loan but I want to get from a legitimate source and not a scam. Anyone know?
Loans Guide answers:
Yes there are but when you applying online they will probably want more personal information from you. Read the article bellow for more info.
Mary asks…
where can I find a personal loan for people with bad credit? This is life or death and I need the help?
I don’t have great credit but I work at a great paying job. I don’t want to use payday loan sites because its a scam. I have been scammed so many times and I am now do to the wire. I need help real financial help..
Loans Guide answers:
Your better off going to your employer (your manager at work) & asking them for an advancement on your pay check. Regardless what your situation is, I would not tell them what is happening in details for it is none of their business (avoid office gossip) & just tell your manager that you are in danger of being evicted from your apartment. They should be able to help you out. I wouldn’t count on going to the banks or any other loan place for that matter because you have bad credit. No one will lend you a dime. I suggest you fix your credit as soon as your problem gets resolved & be more organized with money (i.e. Budget, saving), should anything else happen this bad for you in the future, you will be prepared.
One more thing, do you have a Retirement Account? 401K? Roth IRA? Or any investment account that you contribute to at work? What you can do is withdraw from that account if it’s a major emergency like this. Use that reason of being in danger of losing your home (eviction) in order to make a withdrawal. They will take out 10% from the withdrawal for taxes but at least you will have the money you need.
GOOD LUCK!
James asks…
I recentely asked if anyone knew of how to get a short term loan, not a payday loan, with bad credit.?
I just received a bunch of scam respones. Cant anyone take things serious. I am in need of a short term loan, and you would think people wouldnt be so cruell
Loans Guide answers:
Without a co-signer, it’s probably not going to happen. Unfortunatly this type of question draws scammers like flies to crap. Unfortunatly, that is what they do.
Donald asks…
about a payday loan in got back in oct, i did not pay it. It was 250.00 now I have?
collection acs calling say if i dont pay them 700.00 dollares the are going to summon my bank records and file hot check charges on me. I never wrote them a check if was electronic from my account, I called the payday company they said they could not file charges, but the account has been sold to acs. and the payday company said it a scam. I dont know what to do
Loans Guide answers:
They can bring fraud charges against you if you did not have the money in your account that you promised would be there when the loan came due. That is the definition of fraud – when you took out the loan you guaranteed that the money would be there for electronic payment on the date the loan was due. When the money was not there you were guilty of fraud. The fact that in the past 8 months you have made no effort to pay off your debt is more proof you intentionally set out to defraud the loan company. If you hadn’t, you would have paid back the loan even if it was a few days or weeks late and you incurred penalties. Or you would have contacted the loan company to work out a repayment schedule. If you didn’t do this, then you are guilty of fraud
If they call again DO NOT confirm or deny the debt or discuss any sort of payment plans with them over the phone. Never do anything that is not in writing.
You will need to pay the money back and $700 is not unreasonable for a $250 loan because payday loans can charge up to 3000% APR. Each week that goes by that you don’t pay, the interest keeps getting compounded and after 8 months you are going to easily owe 3x the amount of the original loan
You need to look up the registered address of the collections agency that called you and send them a registered letter in the mail ASAP (keep a copy for yourself as well as keeping the delivery confirmation) stating something to the effect of: “Per the Fair Debt Collections Act I am requesting you to send me written proof of the debt to my home address within 30 days. In addition, you are to remove me from your calling list and all future communication must only take place in writing” This at least gives you time
Then when you receive the written proof, pay it off right away. If you do get taken to court, you are going to owe a LOT more than this
Robert asks…
i want to know do anyone know of a payday loan place online that is?
not a scam that lend to people who recieve income of 603 less then a hour.
Loans Guide answers:
Of course, there’s some fees (up to 30% !)
But you’ll get some money within the next 24 hours !
Good luck !
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Tags: Bad Credit, right away, short term loan, loan site, day loans, loan scamsYour Questions About Payday Loans Online No Credit Check
December 5, 2011 by Loans Guide
Filed under Payday Loans
George asks…
My wife has a problem spending money, and its gonna cost my marriage.?
We got married on April 5th 2008 and have been struggling financially since July. First it was us together spending money using credit cards. Those quickly got maxed out. I had provided my wife with a Chevron credit card which she maxed out within a two week time frame and nothing to show for it. I then made a decision to borrow money from banks to get ahead on some of the bills and pay off the credit cards. Which I should have chosen to pay off Bank loans instead. Because the credit cards where maxed out again in shorter time and over the limit worse than before. My wife began to borrow from online payday companies and in most cases using my social security number. Which results in the worse scenarios possible. My credit score was exceptional now we are not able to pay any of the loans credit cards or payday loans. My credit score is dropping faster then Equifax can compute. We were able to address short term bills, but once all the bills were somewhat caught up. We began getting bank overdrafts, we are now on a weekly basis overdrawing the account due to her writing check for things we so called need. For every over draft no matter how small we are charged 25$ and mostly from checks that she wrote knowing that we dont have the money in the bank. Which can add at an alarming rate when the bounced checks are reprocessed again after they failed the first time. So any one check can be a 50$ charge not including the fees by the receipent of the check. We have argued countless times about this to the point of her making physical contact with me and me threating to end our relationship. Yet 2 weeks later it reoccurs again to the point that I dont say anything because I dont want to deal with the arguing. She has admitted to me that she has a problem with spending money. We are to the point to where we are struggling just to pay for bare neccessities. Utilities, Gas transport. Bank Loan, Car Loan, Insurance, Child care, Rent, We dont make enough to keep these bills up. I am to the point to where it would be better for us to end the relationship move back to our parents and get our lives back in order. She is completely torn and does not want this to happen. I would like for us to be happy and live comfortably. But i dont know what the next step is when she has this problem thats going to continue to keep us from progressing in this financial struggle. What should i do force the relationship to end or enforce some type of restrictions? Some one please help!
Thank you all for such quick and great responses so very helpful. As for a seperate checking account or living on cash alone great options. We both work she gets a check. My job requires direct deposit so i have to have an account. We have a joint account currently and had to close one account previously due to the payday loan companies taking out twice as much than is owed. She has also opened up another account, in her own name at another bank. She has been going to the payday loan websites again and almost certain she is using my social security number to get the payday loans deposited. That arent gonna be paid back. She promises she has not done this yet but is there anyway i can prevent my information from being used without causing her to be charged with identity theft.
These are our bills a month
350 child support for my other children
340 child care for her child
320 gas transport to our jobs
240 or more for food and house items
250 rent
262 carloan
167 bank loan
50 heating gas bill
67 Cable TV/internet
153 Bank loan for paid billz
125 cellphone for us to keep in contact for emergencies
137 insurance
125 light bills
I make 670$ every two weeks
she makes 580 every two weeks
I had suggested she pay the 340 child care for her child, 320 gas transport to our jobs, 240 or more for food and house items – But i am stuck with the rest and its just not possible on our income.
Loans Guide answers:
When a person has to take out loans to pay off credit cards, it’s time to cut them up. Your wife should never have had access to these cards after her spending sprees.
If your wife has a problem spending money, it probably gives her some sort of short-term comfort; however, she could consider therapy for the issue. It’s up to her to change this behavior.
I can’t tell you whether to end the relationship or not. Restrictions should have been in place long ago, however.
I sure hope this works out… I know the discomfort of not having enough money to pay the bills and buy necessities.
Helen asks…
Payday loan questions & Help Please?
I need to know if I can get a payday loan the same day? Is there a payday loan company that will do everything online, without employment verification etc…? I have had overdrafts, can I still get a payday loan? I have tried some places but get denied. I am thinking it’s because of the overdrafts. However my checks never got sent back to the merchant they were all paid by my bank. Will using a no teletrack increase my chances?
I need a small loan 500.00 to get by and my credit is bad. I don’t really have anyone to turn to in terms of borrowing money at this time such as family or friends. I would appreciate any help that can be given. Thank you
Loans Guide answers:
Find some other way to get by. Payday loans are a very bad idea. The interest rate is 100% or more. You will only get sucked deeper and deeper in debt.
Rethink your spending habits. There’s a difference between wants and needs. Cut out all the extras — cell phone, premium cable and internet, eating out, new clothes, etc.
Get a second job. Sell your blood. Sell or pawn stuff. Collect aluminum cans. But DO NOT fall into the payday loan trap.
Richard asks…
How do I make my income stretch till the next payday? Especially if I have a car repair or something else.?
I get paid once a month since my husband died in 2006. I am currently living on social security (widows death benefits) and recieve two checks. One for me and the other for my son. At the age of 16 my check stops. My problem is after I pay all my regular bills and things I just barely make it to the next payday. Recently I ran into a situation where I made a mistake in my finances and didn’t notice it till a few days later and I ended up having more money deducted from my checking account than what was supoosed to.
I had a bill I set up with automatic withdrawals on the account from online and I accidently added a zero to the amount to be taken out and instead of $100.00 dollars it was $1000.00 dollars. When I called the company to have them give me back the $900.00 I over sent them I found out that they were no longer handling that account and it was sold off to another credit collection company. I called the original company which the bill generates from and they told me there was nothing they could do for me. I had other bills scheduled to be with drawn from my checking account and had no other place or person to get money from to cover the money taken from my account. I contacted the bank to alert them of what took place and they said there was not much they could do to help me.
I was told every now and then it happens and they were sorry. I was concerned for the bounced checks. They said they cover you up to $500.00 dollars before they return them but still charge you a $15.00 NSF fee. I was frantic and called my attorney and she said since it was my error it looks like I made the larger payment and there was not much I could do about it.
I was able to go to a check cashing store for a loan to cover some of the problems but I was still charged those bounce fees and put myself behind the 8 ball and now I find myself having to use the check cashing store regularily and I don’t like it. I went through my budget and tightened it up any place I could to free up more money to help stop the check cashing store loans to tie me over till next payday but it still didn’t help.
My bank or any other bank won’t give me a debt consolidation loan due to my credit caused by my deceased husbands debts he left me with that I had no idea he was racking up. I don’t have any friends or family who are able to help me as they are living on a tight budget as well.
I am not able to find a job part time since there isn’t much available here in my small town due to the economy. I can’t work more than a certain amount of hours due to receiving social security. And I make more than I would working a regular paying job right now so quiting social security to work full time is not an option for me. Plus I need some one to watch my son when he s out of school or there is no school due to school closings etc. He has ADHD and needs supervision. Finding a place or someone to watch him has been difficult. He can’t be left alone.
My friend told me she was in a similar situation some time back and she skipped paying a bill or two to eleviate the strain on her bank account and free up some cash. I said that is not a way to handle financial stress as it only puts you further in debt and then you have to come up with more money to pay the past due bills you owe. And if you don’t you end up with shut off utilities, etc.
My problem is how do I get out from my issue and not have to use the check cashing store month to month and avoid the fees they charge and be able to live on my income being paid only once a month. I don’t have credit cards to use because my late husband racked up several of them that I was forced to pay thru the courts because he applied for them online and added me as the joint owner but never told me he had them. So I am unable to have cards of my own and technically I don’t want any cause they only cause further financial stress.
I run out of cash before payday and this is difficult to deal with. Any advise would be greatly appreciated.
I can’t go to a cheaper home cause this was given to me from my father before he died. I don’t have a mortgage. I have tightened up my budget every where. And my attorney doesn’t recommend filing bankruptcy.
I haven’t nixed anything. I definetly would do any of the things suggested if I could. I can’t get a loan cause the bank turned me down. I have poor credit which I am trying to turn into good credit. I can’t find a part time job cause I have no sitter for my son. I can’t find one. I have looked for one for 2 years and no one is available. My family and friends won’t loan me any money. They say they make it a rule to never let any one borrow money from them and besides they don’t have any extra to loan. My attorney said she didn’t recommend filing bankruptcy since it would only further damage my credit. I just ewish banks would loan you money and directly pay the people I owed and take payment out of my account monthly but they said my credit wasn’t good enough for a debt consolidation loan. So I thought someone out there would have had other suggestions.
Loans Guide answers:
You sit down at the end of each month and WRITE a budget for the next month. List your income for the month at the top of the page. Then list what you will do with EVERY PENNY down the page. Note: saving is an item on the list. You deal with car repairs, etc by setting aside money BEFORE you need it. This is why EVERY financial expert recommends having 3 to 6 months (or more) worth of expenses in an ‘emergency fund’. Then when the INEVITABLE emergency happens, you have the money to make it go away.
Note: I only read about 2 words of your question details. Nothing in them changes the answer.
Susan asks…
Can I Sue a Fraudulent Online Company for the $50 they took out of my bank?
On August 24, I had an alert from my bank that a check was presented in the form of a paper check and I never write checks…I only authorize them from over the phone for my checking account-no paper checks.
Anyways, the check said that it was made payable to: Select Platinum Credit 1-877-709-2811 for $49.99. It had my name, mailing address, email address and last four of my ssn. It also had a digitial signature from me.
Previously I shopped around for a payday loan and decided not to take it. I remember signing a digital signature so that must be where they got it from b/c a digital signature is on the check. Also on the back it has pay to the order of First Bank of Delaware (alot of payday loan companies are from them under different names CashCall, ChecknGo, ThinkCash, etc). I think the company I applied with was www.mycashnow.com.
So if you click on this link you will see the proof of how many other people they have done this to on http://www.complaintsboard.com/complaints/select-platinum-credit-c362607.html
So can I sue them for this fraudulent activity? If so, how.
If not, what CAN i do?
Loans Guide answers:
Possibly, though it may not be practical. A lot of State Attorney Generals go after this type of corruption. For example, in New York, there is a Consumer Frauds division of the AG’s office that handles these types of cases all the time if they feel there are enough victims to make it worth the resources of the office. (I worked with them briefly, though for the most part I worked with a different division when I was with the NYAG’s office.)
Contact your State Attorney General, contact the Delaware Attorney General. Contact your local District Attorney’s office and your district US Attorney as well, though they only handle criminal action, which this might not be. (The AG handles both criminal and civil actions.) You should also, of course, contact your bank and the better business bureau to file complaints, make sure you dispute the charges with the bank and get them to remove the charge (if it ends up costing them lots of money due to disputed charges, they might sue).
None of those entities represents you, of course, they represent the State or the Federal government or their own interests, but they can do some things to stop this type of fraud in the future and punish the wrongdoers now.
If you want someone who represents you, contact a lawyer, but you’d better be prepared to spend a decent chunk of change just to make a point. A lawsuit will cost a lot more than $50. You might be able to try to claim punitive damages, which are quite lucrative and can sometimes be available for cases like this where the damage is small but widespread and difficult to stop, sort of as a reward for prosecuting a case privately that public policy dictates should be prosecuted. But I wouldn’t count on it. That’s a theory by a well respected judge, Richard Posner, but the Supreme Court hasn’t expressly agreed and seems to disfavor the theory. Because of the nature of the case, if I were representing you, I would insist on a substantial retainer up front to ensure payment.
If a class action suit has been filed, you’ll eventually get a notice in the mail saying that you are entitled to something if you fill out a form. It’s usually not very much though and it can take a long time to get the money.
This is not legal advice. If you need legal advice, talk to a lawyer. My only advice is to give you some suggestions of who you might talk to, in addition to a lawyer. Most lawyers charge nothing just to have an initial conversation, so there’s no harm in asking someone.
Ken asks…
How can I get an $800 personal loan?
I have a bank and checking account with Bank of America (I got one on July 22nd, so it’s a new account), but I tried applying online for their personal loan and they still denied me (even with a cosigner), even when they didn’t even ask on the form of how much I want to borrow. I heard that payday loans (cash advances) suck as some of them are traps and you usually need to pay it back in full in 2 weeks. I have no credit history and I’m trying to build one. I earn money by selling things I create online. I need $800 fast and don’t have any family or friends I can ask. Do I have any other options? Thanks 
Loans Guide answers:
Stay away from payday loans…especially if you think you might not be able to pay it back anytime soon.
It sounds like you might need to take a part time job to subsidize your internet business. You can use the income from your part time business to apply for a credit card to help you begin to build your credit.
And when your internet business starts booming in 6 months, quit your part time job and focus on your passion full time.
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Tags: long time, gas bill, part time job, poor credit, consolidation loan, State Attorney General, Credit CardYour Questions About Payday Loan Scams
November 5, 2011 by Loans Guide
Filed under Payday Loans
Carol asks…
Does anyone know of payday loan companies that are scams. Please give names and numbers ….?
Nancy asks…
Payday loan scam…help?!?!?
I was in a really bad personal situation around christmas (unexpected family death…big problems) and got desparate and took out a payday loan thingie online. Well, after paying them off, I kept getting LARGE amounts of money taken out of my acct, so i closed it, but now they are calling me at work with NASTY threats, but wont give me any info so that i can prove my payments or will send me a contract. Anything I can do to stop this? they threaten to pester my BOSS until I get them paid, and i dont want to lose my job over something I have paid in full! Anyone know of something i can send or do? I cannot keep dealing with this insanity! Thanks for any help! I am NOT a deadbeat who doesn’t pay my bills (as was suggested on a website by an employee of this comp.) I just want to get everything squared away so as end this nightmare
Loans Guide answers:
I work for an internet payday lending company. I think the way they are treating you is terrible. I do collections at my job and that is not the way I would ever treat a customer. A creditor can call your employer until they are TOLD not to call. After that it is illegal for them to call your place of employment. You telling them to not call is sufficient enough but you may want to have your boss tell them to not call back. Tell them your know it is illegal due to the Fair Debt Collecting Practice Act. This is the law!! Get a name and # of who you speak to. You need to find out what exactly it is you owe, if anything. Look at your bank statement and see if the withdrawals and the deposits are by the same company. If so, call the company and demand to speak to a supervisor. It almost sounds like the original place you took the loan for may have showed a balance you were unaware of and have since sold it to a third party collection agency. I have had customers call and say these people are really nasty. Bottom line is that the internet payday lending companies have not legal recourse, so dont listen to all there threats.
Sharon asks…
Is anyone familiar with “payday loans”? If so, are these known to be scams or is it legitimate?
I see these payday loan websites pop up on my computer and find them in my inbox. I was wondering if these are all scamming websites, or are these legitimate loan offers you can use if you have issues with your job pay? I would like to know details about these type of websites.
Loans Guide answers:
Payday loans do have a place, they are just legalized loan sharks.
1. Understand what you are doing. 2. For every $100 borrowed it will cost you $20-30 3. It is due in less than 14 days usually.
If you have a friend or family or even if your work would allow you to borrow some if you need it in an emergency – do it that way and pay them back at a reasonable rate – say 10-15% or 1-3 months.
Credit cards are cheaper if you can. Even the bank if you can. There really is nothing good about them honestly.. And i have used to my regret.
Mark asks…
Where can I get a personal loan for $500?
I have a credit score of 620, also how fast can I receive a loan? I don’t want one of those payday loan scams and I’m not sure how to know if an online loan is legitimate. Can someone tell me if it works or how to go about doing this?
Loans Guide answers:
Go to a bank….just like for any other loan.
William asks…
Does any body have help for a person needing a loan desperately w/ a credit score of 508 & a old bankrupty?
I don’t want payday loans or scams just a private investor or an angel who believes in second chance.
Loans Guide answers:
Lol good luck, people that need loans generally dont qualify, you’re best bet is finding that angel, so head for church.
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Tags: payday lending, Loans Guide answers, guide answers, credit cards, loan scams, Credit CardA Legitimate Payday Or Temporary Loan That Is Now Offered To Help Overcome Emergency Situation
August 4, 2010 by Loans Guide
Filed under Payday Loans
Cash shortages happen to everyone, even seasoned budgeters. Coming up short on money once in a while doesn’t mean you’re irresponsible; it just means that life dealt you an unpredicted hand of monetary setbacks. Perhaps the car that has run smoothly for years suddenly gave out on you, and now you have to spring for costly repairs. Maybe you experienced a recent illness that left you with a daunting stack of medical health insurance co-pays and deductibles. Obviously, these kinds of unavoidable surprise expenditures always seem to strike in in between paydays whenever you possess the least amount of money on hand. If you’re in a tough spot financially, a quick legitimate payday advance may be exactly what you’ll need to smooth out your income flow and handle pressing expenses. There are only few “LEGITIMATE PAYDAY” sites that can help you with your condition.
The primary goal of a payday loan organization would be to provide our clients with the quickest online lending service, turning around instant applications the same business day to obtain you the emergency money you’ll need. If you have a stable job location but need some additional money between paychecks, you’ve come to the place. You will by no means suffer from high unexpected bills ever again because you’ll always have the necessary funds to easily cover immediate expenditures! Fax payday cash advances will assist you to get emergency money.
Payday advance loans are simple to utilize for and usually are approved very quick. Online payday advance companies can approve your payday advance rapidly and you can have the emergency money you’ll need.
You will find some payday loan websites that will link your application to their own network of participating lenders for fast and guarantee processing.
Money advances take just a few minutes to apply for whenever you fill up now for payday loans online. Actually, you’re never required to go to your neighborhood payday loan store; and you will not even have to fax in documents because we supply services for no fax payday loans too. Faxless payday loans are really very simple and are a favorite with our customers who do not have easy or fast access to a fax machine. With no worrisome credit checks and without having to fax documents, you are able to have your payday advance loan very quickly. Whenever you utilize online for your cash progress your application is processed instantly which in turn means less waiting time for you.
Pay day loan can be useful in numerous difficult but temporary monetary situations. Bankruptcies as well as other monetary issues that usually affect the ability to receive conventional credit don’t utilize to a payday loan.
Applying for a payday loan has other advantages, too. It will avoid unnecessary bounced check fees and other difficulties that arise from unpredicted emergencies in in between paydays. Prudent use of a payday advance, with timely repayment, can also assist with the credit rebuilding procedure.
Now are you ready to get a Fast, Legitimate and Secure Payday Loan, No Matter How bad your credit is by Clicking Here ! Get the Loan in Hours!
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Tags: Payday Loans, costly repairs, income flow, loan websites, Personal finance, unexpected bills
