contacting friends

hi redshoes. I have read here that often the payday loan people will call your references if they cant find you. The illegal ones seem to be really nasty when they call peoples friends and fmaily.

My advice to you would be to contact them first if you are having any difficulities in paying them back. The one and only time a storefront contacted a reference was when I first applied for it that was it.

ladybug

Oh dear... My loan companies are probably calling my aunt and my cousins as we speak. That's not good... :/

Mine never did--but then again I gave wrong numbers on my applications!! (I confess...)

That was smart thinking about not giving them the right phone numbers. However, I would still try to contact them to work something out if you can not pay them.

Storefronts are most likely legal and can will sue if they need to. I say get ahold of them and explain your situation.

ladybug

LOL KS that is funny! I wish I had thought of that for all the numbers I gave them.

I too wish I would have given fake numbers. As far as i know none of the pdl's that i have taken out have called any of my references, but i sure would be embarresed if they have. I should probably call them to forwarn them just in case.

Yeah, it was bad enough I was PDL'ing, I just didn't want my family and friends to know it...but you do still need to settle these.

What is really sad is when the scumbags call peoples coworkers and bosses or faxes personal information to a business fax. These guys need to go away!

They do need to go away--but a different type of product is needed for people who need a short-term loan. People who can't qualify for any other type of loan. What we need to do is be proactive--if we say that they need to go away (and they do), what's our alternative?

I agree about finding some legal and regulated alternative for people who have few choices in the loan market.

They are the most likely to need emergency cash help and they are being preyed on by these pdl loan people.

Maybe it could come with some credit counseling mandate if the borrower defaults. Teach them to avoid the problems and grow better consumers.

although I agree something is needed I cant help but wonder how people survived when there where no pdls. They have only existed for the last 10yrs or so. I think before them people used pawn shops, borrowed from others ect. I wish there was a better system where we could truly help each other.