Tag Archives: payday loan
- I Closed My Checking Account to Get The Payday Loan Companies to Negotiate With Me. – Michelle
im in a mess with payday loans. i was going to work with progessive, but i read your response and decided not to involve myself with them. of course, it started with one and went from there. i also have had two deposits made to my account that i am positive that i did not [...]
- Native American Tribal Indian Payday Loans Found to Be Operating Illegally
The Federal Trade Commission has taken action against a payday lending operation that allegedly piled on undisclosed and inflated fees, and collected on loans illegally by threatening borrowers with arrest and lawsuits. The FTC has asked a federal court to stop the allegedly illegal business tactics while the agency pursues its case against the defendants. [...]
- Pay Day Loan Consolidation Advice
I have several pay day loans and would like to know who I can go about consolidating them into one lower monthly payment. Anne The Answer: Dear Anne, There are good options for unsecured debt consolidation through LendingClub.com and Proper.com. I’ve recommended those companies to people in the past and people seem to be happy [...]
- How do I get out of this payday loan cycle of doom. – Joe
I live in CA. I took out 9 payday loans. I have been paying nothing but interest and finance fees. From what I understand, it is illegal to have more than one payday loan out at a time in CA. Does this negate my other 8 current loans? None of my lenders are in CA, [...]
- Defendants In Payday Lending Case To Pay More Than $294,000 For Illegal Garnishment Of Consumers’ Paychecks
Defendants in a payday lending case have been ordered to pay more than $294,000 for illegal garnishment of consumers’ paychecks. A federal court has ordered, at the request of the Federal Trade Commission (FTC), one of the individuals behind a payday lending scheme and two companies he controlled to pay $294,536 for illegally trying to [...]
- Pawned Jewelry to Make My Mortgage Payments And Can’t Keep Up With Payday Loan Payments. – Pete
Income: $116K + most years a 15% bonus Home: Owe $300K and probably worth $280K, bought in 2009 for $315K with FHA 5% mortgage, $2750/month Debt: $90K + $23K aginst my 401K No savings except for $54K in my 401K Total payments every month are greater than my take home pay and I have run [...]
- Danger! Payday Loans are a Weapon of Mass Destruction
According to Wikipedia weapon of mass destruction (WMD) is a weapon that can kill and bring significant harm to a large numbers of humans (and other life forms) and/or cause great damage to man-made structures (e.g. buildings), natural structures (e.g. mountains), or the biosphere in general. WMD’s can harm innocent people and there’s no stopping [...]
- Can My Son Be Arrested for Not Repaying a Payday Loan? – Karen
“Dear Steve, My son who is 32 years old and not employed at this time was contacted by a collection agency about a payday loan that apparently he took out over 3 years ago. They claim they can have him arrested for check fraud if he does not pay $355 every two weeks to settle [...]
- I’ve Got Payday Loans I Don’t Think I’ll Be Able to Pay. – Eddie
“Dear Damon, I’ve got 5 payday loans from the internet totally $2610 in principal. I’m not late or have any late fees, but its starting to catch up with me and I find myself wondering what to do. Do you have a company you trust or some advice on what I should do? Do you [...]
- What is the Best Way to Handle Payday Loans I Can’t Pay? – Scott
I have several payday loans that currently I can’t pay back on time. I have three that are current, within the last 2 months and 2 or 3 that are several years old. I have recently been contacted by 1 of the older payday loan companies for payment. What is the best way to handle [...]
- My Salary Has Been Cut Twice. I Fell For a High Priced Installment Loan Where They Took 33% as a Processing Charge. – KNR
My salary was cut twice in a six-month period plus my employer deducts $150 per month for health insurance. This caused financial issues and I sought a payday loan with the expectation to pay he full loan amount in two weeks. To my surprise, the tax refund I was expecting did not arrive so I [...]
- We Are Over Our Head in Payday Loans. Can a Debt Consolidation Company Help Me? – Laurie
“my husband and I are in over our head in unsecurred loans/pay day loans. We do not have good credit. This started when he was unemployed, and now is working but we can’t get ahead with THROWING away all this money to payday loans. Do you have any advise? I have talked with a debt [...]
- Payday Loans: How Quick Is A Quick Solution?
On March 31, 2011 The Center for Responsible Lending put out a publication entitled “Payday Loans, Inc.: Short on Credit, Long on Debt” where they featured a recent study of payday loan borrowers. The CRL tracked 11,000 Oklahoma payday loan borrowers for 24 months from the date of their first loan and revealed their findings [...]
- Moneymaker Charged With Tricking People Into Seeking Payday Loans Billed Without Consent
Bruce Moneymaker, Mike Smith, Michael Bruce Millerd, Fortress Secured, Daniel de la Cruz, Belfort Capital Ventures, Dynamic Online Solutions, HSC Labs, and Seaside Ventures Trust were all charged with unfairly and deceptively billing consumers without their consent, and not providing promised refunds, in violation of federal law. At the FTC’s request, a federal court temporarily [...]
- BillFloat.com – A Great Alternative to Payday Loans
This year at SXSW I had the pleasure of meeting and hearing Ryan Gilbert from BillFloat.com speak at the “Dawn of the Data: Future of Consumer Lending” panel. Ryan spoke of his service BillFoat.com, an alternative to payday loan lending. I remember sitting in my seat, surrounded by other finance thirsty attendees thinking, “wow, this [...]