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I was just wondering what if any pdl are legit. i know they are all bad news, just wondering.
thanks

Posted: Fri Aug 29, 2008 9:23 am Subject:

The ones that operate through a storefront, although the fees maybe outrageous, they are still operating in the state guidelines. I am doing some research on online lenders, I really do not think there are any good ones out there. What I have noticed now that if you do google search on payday lenders per se most of the links are "gateway" to another site. They take your information and forward to a group of lenders. By the time you actually get to a lender, you have no idea who you are working with. This is part of the confusion. Most of the time the direct payday lenders are so well hidden that you can't get any information. Also if you are not careful to read the fine print at the botton of the page you may end up with a charge of $19.95 for some service you did not realize you were requesting.
Also some of the fine print at the bottom tells you that they are not legal in certain state. More and more will let you know while completing the application that payday lending is not allow in your state. I am providing my list of information to the NC Attorney General office so they can continue to crack down on these folks.

Posted: Fri Aug 29, 2008 9:33 am Subject:

From what I've seen of them, it's too easy for them to pick and choose which states laws they will hide behind. And as bdouble stated, you almost can't even choose which one you want to take a loan from! After my encounters with them, I wish they would find a way to shut them all down or force them to operate legally. Evil or Very Mad

Sadly, so many people are have so many financial problems that they find easy prey all the time. The more people keep going to them, the more empowered they are to keep manipulating, stealing, cheating, lying, and extorting people. *sigh
Jen

Posted: Fri Aug 29, 2008 9:34 am Subject:

Yes, there are quite a few online lenders that are legal and follow state laws.

Posted: Fri Aug 29, 2008 9:35 am Subject:

It's just the illegal ones you hear the most about.

Posted: Fri Aug 29, 2008 11:09 am Subject:

i agree, depending on which state you live in, some may operate legally. there are many who are legit and fall in state guidelines. that said, i really wish they would all have to close or cap their rates for something more reasonable.

Posted: Fri Aug 29, 2008 11:44 am Subject:

I agree I think they should all be closed down, they make it sound so good at the time to get $200 or more into your acct, sure we can use it at that time, but then we have to pay back and if you only pay the fee, you will never get anywhere just the fee and the $200 loan can be a $2000 loan in such a short time... VERY scary!!