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Posted: Wed Aug 30, 2006 6:47 pm Subject: Payday loans 60 minutes & Dateline NBC

Does anyone know if 60 minutes or Dateline NBC has ever done on story on Payday loans ? If not I think it would be a good story that would help many individuals that deal with Payday loans. Thanks

Posted: Wed Aug 30, 2006 6:50 pm Subject:

One of us should write to them...

Posted: Wed Aug 30, 2006 7:03 pm Subject: News

The only item I've seen was last week on NBC Nightly
NEWS. It did not deal with Payday loans,but collection
practices of debt collectors.

On my local station there was a consumer piece on title loans,which are totally illegal here! Other than that I have not seen anything.

Unfortunately, I do not believe there is enough interest except on the local level.

Posted: Wed Aug 30, 2006 7:32 pm Subject:

I emailed Dateline and CNN regarding Cash Today a few months ago. I never heard from them.

My local newspaper ran a article this week end portraying PDL's as good. I have drafted a letter to them. I was way up on my soapbox Shocked

Posted: Wed Aug 30, 2006 7:43 pm Subject:

Actually on the (I think) NBC Nightly News last week they were talking about how bad pdl's for the military are. There was some chick advocating pdl's. I have her name somewhere, I'd love to write her a letter and just may.

Posted: Thu Aug 31, 2006 9:37 am Subject:

There was a piece on the Nightly News about collection agencies.
I had to laugh, because they recorded the threats made by these pigs. They even threatened someone's life!
One poor guy kept getting harrassed, and it was amazing when he turned out to be an Appellate Court Judge! lol

Posted: Thu Aug 31, 2006 4:00 pm Subject:

years ago on one of those shows there was a brief about payday loans..I remember it was not positive, but leaned a bit towards panic media. I should've paid better attention...

Posted: Thu Aug 31, 2006 4:47 pm Subject: dateline or nbc

Hey Everybody, Local news and newspapers here are running all kinds of ads against payday loans. The attorney general is running them alot in newspaper. 2 more internet companies went down today. YAH!!!! I am praying that laws take effect in all states to stop these people. KYSIDE38

Posted: Thu Aug 31, 2006 7:09 pm Subject: Real story of PDL's

The real story on payday loans should be how they were even legitimized in the first place. It is a total loop hole around the maximum interest fee allowed for a loan. I understand the desperation of people who get themselves in a situation where they are desperate for money, but that is the worst thing you could ever do to yourself is a PDL.

Fred

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Link deleted as per forum rules - Mike

Posted: Thu Aug 31, 2006 9:51 pm Subject:

Posted: Fri Sep 01, 2006 6:43 am Subject:

Good news in Pennsylvania....FlexCheck closed a storefront PDL in my town....and I was so elated! Laughing

There are still a few in our town, but Rome wasn't built in a day. So we are winning the battle, one shut-down at a time!! Blessings, Tippy

mustbetime · Posted: Fri Sep 01, 2006 7:13 pm Subject:

The payday loan biz is enormous big money for those who have stolen the lives of our children. please pray for them.

guest · Posted: Mon Sep 04, 2006 6:41 pm Subject:

Payday loans in Oregon will soon strictly regulated. (and we had some of the loosest laws in the country) Effective July 1, 2007 payday loans must have a 31 day payback period. No more than 10% interest and/or $10 per $100 borrowed. I don't see how they can stay in business too long. Now if the internet business could just be regulated we might be able to get rid of these.

Posted: Tue Sep 05, 2006 8:46 am Subject:

I am so glad I stayed away from the pdl's. We have one pdl store in town and it was started in a pawn shop we have(go figure). I can just see how they figured that would help buisness. Instead of pawning your life away just throw it away completely Smile

. I have many small loans from company's such as world finance corp. and toledo along with about 3 more so yeah paying those are hard enough. On the plus side with those you don't get sent to a collection agency if you are a little late, little being even up to a month. Most of the people that run the local places work with you and keep the big guys off your back. Not saying that running to get a loan from one of these companies is any better it also puts you in major debt. It's just once you get there it's not as hard to deal with them since you only deal with the personell in town. As I stated I am looking to pay all 4 loans off by the end of Feb. 2007.

Posted: Wed Sep 06, 2006 8:45 am Subject:

there is a national effort to outlaw payday loans for military personnel. there is currently a house senate conference committee studying federal legistlation to enact serious pdl controls.

here is some info from the US senate
http://banking.senate.gov/_files/consumergp.pdf

Posted: Wed Sep 06, 2006 9:00 am Subject:

more info:
There are 4 versions of Bill Number H.R.458 for the 109th Congress
1 . Military Personnel Financial Services Protection Act (Introduced in House)[H.R.458.IH]
2 . Military Personnel Financial Services Protection Act (Reported in House)[H.R.458.RH]
3 . Military Personnel Financial Services Protection Act (Engrossed as Agreed to or Passed by House)[H.R.458.EH]
4 . Military Personnel Financial Services Protection Act (Referred to Senate Committee after being Received from House)[H.R.458.RFS]

nd this from the US Air Force:

www.af.mil/news/story.asp?id=123026355

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