Are payday loans considered a "secured" loan?

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ginurse, I'm going to say "no" here. Here's something to just mull over:

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When you get a pay day loan, they are lending the money KNOWING you don't have the funds. So you are borrowing against nothing. They are just lending you money until your "pay day" and you pay them back.

Now someone can come behind me and correct me if I am wrong.

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I have paid one title loan and one check off so far,recieved call yesterday telling me that i must pick up check today or she was going to the sheriff,even though i knew that was a lie ,i told her at least they would feed me in jail,,then she went on to say she would be put on probation for letting me write the check,recieved letter from a different pdl and they will be turning theirs over to collections,,3-D Financial wants me to come in and rewrite my checks,,all kinds of options ,,just leaving update,,,,thank you all

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one more thing,,checking account was overdrawn,(my fault)due to me pulling all money out to fast,i could not close it for it being overdrawn,then 3-D FINANCIALsent two checks threw which bounced,leaving me 350.00 in the hole,,i did stop the direct deposit this week,,thank you

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hello again,dont know if anyone is even on here,im on central time zone,,cant sleep,,these PDL people are like machines,they will not give up,they are calling my references now and my work also,,i honestly dont know how to deal with these people,,they want there money that i dont have ,i have other bills to pay that i cant because of these terible mistakes ive made,,i have dealt with these people long enough,,you go in there store,they are always smiling but after awhile you began to see threw them, it,s all about the cash,,,this must be my hell because it sure feels like it,,

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ryder, hang in there. You've already gotten two paid off. Congratulations to you for that! You're going in the right direction! Your bank account - since you were unable to close it (and now it's in the negative), you need to have them put a hard debit block on that account. If you leave it the way it is, the pdls are going to keep sending things through, which is going to cost even more in fees for you. So, you need to have a block put on that account to prevent this from happening anymore, okay? Also, I'm assuming it's the storefronts calling your references? Have you been speaking to them? Usually (however not always) the only time they call references and employers is if they can't get ahold of you. Then they will call everyone under the sun looking for you. If you haven't spoken to whoever is calling your references, call them. Talk to them. Make sure there is always an open line of communication between you and them so that they don't have a "reason" to call your references or job.

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hello again,,must tell someone about the luck im having,,as i wrote earlier about stopping my direct deposit to the bank and recieving a live check,,first i went to walmart to cash check(3.00 fee) but they would not cash it for unknown reasons i was told,,tried several other places in my home town but no luck,being it was a out of town check,,i decided to go to my bank and deposit it,pay off overdraft charges and close account but NO,,I was told by the bank teller that i could deposit it but it would take 7 to 10 days to clear before i could even spend any of it,,the manager was out of town and she had never heard of a hard debit hold,,with todays computer systems you would think they would know if the check was good or not,after all it was the same place they were getting the direct deposit from,,anyway the only place that would cash my check was a PDL store that i owed two checks ,i had a power bill that must be paid today or lose it so i went there with a 733.00 check,paid both checks off,30.00 check cashing fee and walk out with a little more than 250.00 and then they almost convinced me to rewrite but i took a deep breath and walked out.2 more checks paid anyway,,thanks for reading ,bye

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ryder, what crappy luck! I am so sorry! You went through hell; however, one bright spot is that two more were paid off. That's a good thing! So, you might be broke now; however, you don't have to worry about these checks anymore, so that's money in your pocket after this. As far as your bank, they haven't heard of a hard debit block? What the hell? So, it's still sitting open/active, correct? Can you find out when the manager will be in so that you can speak to them? I found out the hard way NOT to deal with the tellers. Not to be mean, but they are kind of clueless. The manager is the way to go.

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yes,bank account still open ,active and overdrawn,i have cancelled all things that debits my account auto every month so maybe they wont try to run them checks threw again,thanks cannr for the replie.

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ryder, you're more than welcome. I'm just worried about that account being open. Crap.

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I currently have 4 internet payday loans. The companies and the amount owed are Cash Net USA-$585, US Fast Cash-about $400, Ambassador-about $780, & BIG-$285. I contacted these companies to mail in a payment but they refused saying the payment had to be taken from my account. Now the loans are in default and my cheking account is seriously overdrawn due to this. I've recently spoken with Cash Net USA and they said I had to pay off the loan within 3 payments which I cant afford. I plan to send a $100 money order to them tomorrow but I realy can't afford to so I came here for some advice on how to handle this. I'm so tired of all of the calls to home/work and they're all so rude. They refuse to make an arrangement that's affordable. Please help...Thanks in advance.

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What state are you in? Please never contact a pdl until your account is closed.They will go inand debit til the end of time. Tioy need to now get a hard debit block put on your account so they can try to get any more and you will not get more fees., You can noy close you account because it is overdrawn, ahard debit block is the only way.

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I am in Missouri. Ambassador also sent an email threatening to contact my employer if they see I've used my work computer to request the loan, is this posssible? Do you have a letter I can use to request a hard debit block on my account?

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You need to go into the bank and speak directly with the branch manager to request the debit block. Yeah they will threaten all sorts of stuff.You need to revoke any wage assignments you may have signed. They are voluntary and you can revoke at any time.

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You will find the Payday loan laws for Missouri here (just select your state),
http://www.debtconsolidationcare.com...pdls-laws.html

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rydermack - just a short story about banks and checks. a few years ago, i received a refund from the IRS. took the check to the bank and went to deposit and get cash back. was told i could not get cash as they had to wait for the check to clear.

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