Internet's first get-out-of-debt community - 136,000 members

Unbelievable. I can't believe that companies actually will sell a "how-to" manual on how to have your own PDL business. Evil or Very Mad

They even post newsletters about how to get around the laws and make sure to have a legal team in case you get sued. And how to become a PDL on the internet. Evil or Very Mad

Has anyone ever seen this site? paydayandpaycheckloans.com I hope that one day PDLs will not be legal in any of the 50 states.

Here is some excerpts from the manual in an article at the Brownsville Herald brownsvilleherald.com/print.php?id=67143_0_10_0

In 2002, Aaffordable Payday Loan Consultants, now called Trihouse Enterprises Inc., produced a business plan it sold to people wanting to get started in the payday industry. The plan, obtained by The Brownsville Herald, encourages new payday lenders to consult its �intimidation sheet� for ideas on how to collect money and to mislead customers to collect more fees.

�You may be surprised at the number of persons unable to manage their finances,� the plan's overview says. Among other tactics, the plan offers the following advice to prospective payday lenders:

� �Help them visualize a uniformed, gun toting U.S. Marshal arriving at their place of employment (to collect money). Emphasize to them that this U.S. Marshal will first ask for (their) immediate supervisor!�

� �Late fees are a very lucrative profit center. You do not need to actually present a client's check(s) to the bank to have them stamp (non-sufficient funds). Purchase your own stamp! They owe the NSF fee even if you did not take it to the bank. You simply say, �My bank verifies funds before accepting my deposit. Unfortunately, (your check was no good). The fee is $15 per check.'�

When reached for comment, Trihouse President Jerry Ayles, was initially skeptical about being interviewed.

�The media always tries to portray us as loan sharks, and says, �Oh, those poor (borrowers).' Are you going to do that, or are you going to do something fresh?�

Ayles said he didn't think threatening people with the U.S. Marshal's was �harsh.� He said, �This is what can happen.�

The payday business, he said, �is about relationships. It's about treating people with dignity and respect.�

He would not comment on advising lenders to purchase their own �NSF� stamp, without taking the check to the bank, simply saying �that's an old business plan.�

Posted: Sun Aug 13, 2006 8:31 am Subject:

I have never been to that site but I agree that it is unbelieveable that anyone would buy the information on such a shady business.

Thanks for sharing this with us.

Sue