5/11/2009

before you do anything online dealing with finances(or major purchases) make sure you check with the better business bureau and check with websites like ripoff.com ect.. because now there are many consumer information sites on the web to dig really deep about people's experiences with any business and doing research will save you from a lot of misery and financial heartaches.

hello all,there are so many lenders who offer loans online. i want to know is it safe to take loans from online lenders.Have anyone taken such loan.
Dont you think loan from banks is a better option.
please express your views.

It's safe as long as you remember one thing -- DO NOT PAY ANYTHING UPFRONT. It is unethical to pay money to borrow money, no matter what. Also, get everything in writing, signed and sealed, and no phony e-signatures! Demand the REAL signature.

hello all,there are so many lenders who offer loans online. i want to know is it safe to take loans from online lenders.Have anyone taken such loan.
Dont you think loan from banks is a better option.
please express your views.

CA payday loan lenders CANNOT file criminal charges for an unpaid loan even if you close your account.

This is true!

They are also not allowed to call you at work if you tell them to stop and especially not allowed to threat you will action that they cannot legally take.

This is always true but they do it anyway. Their excuses are that this is the number that you gave them permission to call when you signed the application.

She hung up on me!!!

This is what they do everytime you crack their face.

Good researching for yourself. When it all boils down to it, they will accept what you are willing to pay in terms, they just use those hard judgements towards us to make us urine on themsleves. I used to laugh at them because they just did not know that 40 other creditors was ahead of them.


Keep us posted on your outcome ok.

Meya,
Thanks for the support...after I calmed down yesterday( I was so scared!!) I did some research and learned that in CA payday loan lenders CANNOT file criminal charges for an unpaid loan even if you close your account. They can only try to collect the amount of the original loan + ONE $15 NSF fee. After that they can take you to small claims court and get a judgement if you don't pay. They are also not allowed to call you at work if you tell them to stop and especially not allowed to threat you will action that they cannot legally take. So...armed with my new knowledge I called the collection agency back today and asked to speak with the lady who threated me yesterday. I politely asked her for the full name and mailing address of the agency because I wanted to send them a letter telling them NOT to call me at work anymore and that they were BREAKING THE LAW by threatening me with arrest. She hung up on me!!!
So I called back and spoke with the secretary to get the info I wanted...I am mailing my letter certified mail TODAY.

iv'e used a payday loan over the years but fortunately i did my homework with this very helpful website http://payday-loan-service-review.toptenreviews.com/ . i usually borrow a hundred and pay the loan off on payday or before and when i do that,there is no penalty but they give you credit for paying off early. the payday loan company i use was actually down the street from me and they emailed me to come down and take a survey for thirty minutes and they gave me 50.00 for doing it, i had a great time. last month they invited me to film a commercial in downtown Dallas but i had to work but i would have done it.but overall the company i use is really great to work with and the terms and conditions are excellent for an emergency fix.

Wow, interesting story. My sister who is sitting right here with me said that her ex husband had the same thing happen to him but they did not go to his job. He received the same court threats like you, but she said he was soooo scared until he had to cry to his mom in Kansas to wire him the $600 for a $250 loan.

Don't be ashamed of anythng that happen in your life with debit, if don't have the funds to pay, you just don't have it. You can't drain blood from a turnip! I remember when I had to send a fake death certificate to a creditor because they were talking about hauling me in. You are not the only one, trust me. Thanks for sharing the story.

Unfortunately I fell for this type of loan. I am ashamed to admit that but I need some advice with this situation...
I got a payday loan over the internet back in May of 2007 and I couldn't pay it back. All the fees ended up overdrawing my account so bad it got closed eventually. When the collection agency contacted me 3 months later to pay it I owed $750 on a $300 loan... which of course I couldn't pay so I asked them for a payment plan they said no we are going to sue you. I didn't have (and still don't have) anyone to borrow the money from so what could I do??? So I waited. Nothing happened. They called again demanding payment...I asked again for a payment plan and again they refused. Pay it NOW in full or we are going to sue you. So basically I have been going through this cycle, all the while TRYING to save the money to pay it off. Today they called me at work again and we went through the same thing. This time she told me that if I didn't pay it in full they are going to send "the authorities" to my work tomorrow at 1pm to "identify me" and take care of this because since my checking account was closed now it's considered fraud. As I said this is a really embarrasing situation for me I REALLY want to pay this back but I just don't have $750 to pay it and they won't take any payment arrangement I have suggested. Can they really have me arrested?? (I'm assuming that's what her threats today are implying) I am scared now...
Sorry for the long post thanks for reading...any advice would be appreciated...

Two People

Agreed and haste always wastes. So all you should do is be patient and never be desperate and always take advice and then proceed.

These Pay Day Loans have new rules as of Oct 2007 . They have new rules for Military personnel that Congress passed so all Military Members should go to www.naca.net/_assets/media/militarypaydayloanlaw.pdf I'm active Military and the rules have been changed on these sharks ....To all the new soldiers first go see PLT SGT before taking out one of these loans we've got loans through the Military that have zero interest see Chain of Command first before ever using one of these Companies ....

It's about time that troops get some backing against these ripoffs! Thanks for sharing.

These Pay Day Loans have new rules as of Oct 2007 . They have new rules for Military personnel that Congress passed so all Military Members should go to www.naca.net/_assets/media/militarypaydayloanlaw.pdf I'm active Military and the rules have been changed on these sharks ....To all the new soldiers first go see PLT SGT before taking out one of these loans we've got loans through the Military that have zero interest see Chain of Command first before ever using one of these Companies ....

Two People:
1. Someone who is desperate
2. Someone who doesnt know any better

Fg, I totally agree!

Meya, Pioneer Military Loans has a good thing going for themselves. They know that if a soldier can't pay the loan back, military leadership would get involved. This is true for all soldiers, sailors and marines. The military will not let their personnel get behind. Wage garnishments or punishment will come walking right in...

However, even though these loans are frowned upon everywhere in the military, they're still legal. They add these processing fees and interest right to the balance with that obscene APR, in hopes that you get stuck with the loan for a very long time. Just like jnjsarauer's friend, I needed the loan very short term and thought that it would be a small penny on the dollar as explained to me. However, when they handed me the check, they through in, "Oh you forgot to sign this form as well". All too deceptive! I know that most of the other companies out there open to civilians as well operate on this same basis of evil.