Internet's first get-out-of-debt community - 141,000 members

Posted: Thu Nov 13, 2008 10:50 am Subject: Payday Loan Testimonals

Hello,
I am working on a report to help get payday loan stores closed down in my community. Part of our report will consist of testimonals and stories from individuals who have been taken advantage of by payday lending stores. Is anyone willing to share their story, consisting of why they took the
loan out, how many times they have been flipped, and anything else? All submissions will be anonymous in our report. Please help out a college student!

Posted: Thu Nov 13, 2008 10:52 am Subject:

What state are you in?

Posted: Thu Nov 13, 2008 11:07 am Subject:

Illinois

Posted: Thu Nov 13, 2008 11:21 am Subject:

I have only had internet lender issues but I am sure there are dozens of stories that can be collected here. I will keep bumping you up so more people will read your post!

Posted: Thu Nov 13, 2008 11:26 am Subject:

Thanks!

Posted: Thu Nov 13, 2008 11:59 am Subject:

Does anyone have a story to tell to help the cause?

Guest · Posted: Thu Nov 13, 2008 1:31 pm Subject:

there are tons of stories in the community success section

Posted: Fri Nov 14, 2008 1:45 pm Subject:

Good one! Try the community success section!

Posted: Fri Nov 14, 2008 2:08 pm Subject: reply

which pdl are you looking at?being in illinois myself there aren't a whole lot of companies doing pdl's now.most are doing signature loans or installment loans.only USA PAYDAY and SHORT TERM LOANS LLC are the only two i know of.

PDL Owner · Posted: Sun Nov 16, 2008 11:00 am Subject:

With all due respect, you are beating the perverbial horse. In Illinois, the state has all but shut down the industry. What you need to be focusing your energy on is legislation that would protect the borrowers from offshore and illegal internet lenders. This would not only inlcude legislation to allow individuals who want to borrow the opportunity t do so, but also an education program about the pitfalls of borrowing from unregulated internet lenders.

There have now been numerous studies from the FDIC and prestigious universities that have found that even at it high rates, there is a defined and definate need for PDL's. In states that have regulated the industry out of business, the negative effects on the population have exceeded any expectations.

Keep your focus, but change it to provide yourself a chance at success. As much as you and others here personally may not like our business, there is a need and demand for regulated lenders.

Posted: Mon Nov 17, 2008 5:17 pm Subject:

Actually, There are many payday loan retail locations in Illinois. Even though there is legislation against payday loans, all of the companies have gotten around it by calling them "installment loans" but they are exactly the same thing.

All I am looking for is for someone to share their story.

Posted: Mon Nov 17, 2008 5:18 pm Subject:

Thank you Frogpatch for your help!

*Name:
*Email:
*Phone:
*Zip:
*Debt

	* denotes required field

Internet's first get-out-of-debt community - 141,000 members

Payday Loan Testimonals

Members Area

Free Debt Counseling

Ask the community

Also See

Featured Discussions

Featured Articles

Recent Forum Discussions

Recent Blog Post