PDL in Kentucky

There is a difference between a check cashier and a payday loan store. You would be correct if you stated that check cashiers were mainly located in lower income neighborhood's. This is due to the fact that these areas are underserved by the banking industry. Most PDL stores are located in middle and upper middle income areas. The customer for a PDL store is not in the top 10-15% of the income bracket, nor is it at the bottom 10-15% either due to need and qualifications (checking account and employment). Based on these facts, you would be incorrect to say that PDL stores concentrate on low income areas and correct about us avoiding high income areas. Are there many check cashiers in the low areas, yes. The problem with this is that they generally do very few, if any PDL's out of these particular stores due to qualifying criteria.

PDLs are still given to people that can least afford it. The check cashing service is necessary and should have stayed as such. How do these institutions stay open if all they do is cash checks? Someone is borrowing the money. If PDLs were such as asset to poor and minority communities, than why do so many activists within these communities....either want these stores to either be shut down or to simply cash checks and not lend money at and charge such ridiculous fees for the priviledge? No one had ever heard of a PDLs twenty yrs. ago., and people usually had to get along without them. If working people presumably the working poor are using PDL services, than they are being exploited. I cannot count how many people that I have seen who are not that well off financially become trapped in the PDL cycle. No matter how you try to wrap up garbage in a pretty pink bow, it still stinks. No matter how one justifies this predatory business, those that have been on the recieving end don't buy it. PDL companies would not exist and could not keep their doors open if they weren't lending, and sticking it to somebody. Stick to cashing payroll checks if you guys are really that concerned about the underserved. PDLs are financed by the banking industry. They will always find a way to make a buck somehow off of someone, and I have heard PDL owners with all due respect chant the same mantra...."we are there to serve the underserved." If this were so, than why do you guys treat your customers like Bonnie and Clyde, or John Dillinger when they default on a payment, if the industry is so concerned about the poor working joe that is unable to get served at a regualr high end bank? I'm sorry but it just gets under my skin when I hear predatory lenders try to justify their actions. By the way, even if Pdl companies were based in wealthier communities, there is still no justification for theft whether you are robbing the rich or the poor thru charging outrageous interest fees

This has been beaten to death numerous times and I do not plan on wasting everyones time again. You have your opinion and I have mine, based on the customers that walk thru my door on a daily basis, I will agree to disagree with you on all of your statements.

BTW, the reason that you never heard of PDL's 20 yrs ago is due to the fact that banks use to fill the need.

I think this thread has wondered off track quite a bit as the orginal thread was about KY payday loans.

I agree this thread needs to be locked :?

I see nothing wrong with them, they perform a service and borrower knows the rates agreeing to them when the sign the contract and received the money.

Unlike the person-s who started this topic who fails to see the importance of fulfilling their obligation and repay the loan. $$$$$

I guess they like spending their money on lawyers & court costs. Seems it would be a lot less trouble just to pay the loan back.
The judge will still rule against the borrower.

I thought this thread was locked :?:

me and my better half both wrote checks at a cash express off and on for a year. I wrote one i was paying and rewriting a lower amount til i got it payed . They assured me my partner would not know even if he came in to do business. He is bipolar and his mother was diagnosed with inoperable cancer i wanted to keep the stress down. he had to write a check to go out of town to see mom and went down to pay off his check. the attendant pulled out my check and handed it to him and he said thats not mine. i did not know she had one etc. She then said oops. you were not suppose to see that. she violated my rights. up set him. i'm sleeping on the couch and he is talking of leaving. when i confronted them they said they would give a discount on the fees for my inconvienence. SAY WHAT? Hello!! i am paying my check but think they personally violated me. what do i do?

Unfortunately, accidents do happen. While I understand that you want to keep this a secret, I can speak from experience that it puts the employees in a very tough situation. I'm guessing that both of you write off the same account? While it is admirable that you want to keep the stress off of him, you should not be hiding anything.

I am having this problem right now, they sent me a letter stating they would take me to small claims court and also added they would try to garnish wages. Is it true they cannot garnish your wages?

I also meant to add that they exposed my personal buisness to a lady that was babysitting for me? What are the privacy laws regarding cash express??

Let's hit these one-by-one...

1. Can they take you to Small Claims? Yes

2. Can they garnish your wages? Yes, in most states after a judgment is granted and criteria met.

3. Disclosed personal business to babysitter? This is more difficult to answer because neither of us were on the call. We do not know what they said specificly (although your sitter may have told you what they said) and many times this accusation is made because the person answering the phone put 2+2 together based on the caller ID. They should not be discussing your business with the sitter though.

Ok, thanks for the answers. When the sitter answered the phone I was actually sitting here talking to her and didn't want to answer it because I had had a bad day, the caller ID said private number, when she answered the lady from cash express told her this all in one breath all my sitter said was Hello, " My name, this is julie from cash express your check for X amount is still here waiting for you to come pick it up, when will you be coming down?"

I am in kentucky, btw.

I am in the same situation but I talked to a law and the lawyer said that they can't arrested you for no paying because they are unsecured loans... If you try to work with them and they won't there isn't nothing else you can do but stop the check at the bank if they try to sue contact a lawyer soon as possible.. They can work with you on it they just won't because they want you to keep borrowing and borrowing that money My lawyer told me that i was spnding 500% in intrest a year to those places and the only way to get out of them is to stop payment and when they send you the letter stating that you owe this much you can work out a payment plan but if not and they try to sue call a lawyer because she told me that not many County attoney's will fool with them because it is a waste of time She even went on to say that they are trying to outlaw them Which I think they should So when they say I will have you arrested that's when you say No You can't because you give out unsecured loans and you can't take someone to jail for not paying a bill

Who are your loans with?

To the customer of cash express firt I hope your girl friend paid her dept . I have worked for a nother payday loan co for 15 years and it is not against the law to take a customer to small claims court is is only against the law to take them to court for theft by deception or for writing a cold check under KRS 514.040 good luck , oh and don't qoute laws if you don't know them and don't go to court with her smart of about it to the judge had a husband of a customer do that in Whitley City once the judge told him that if he didn't have a licence to practis law he best not be trying to in her court room.. :)

I don't guess this has every crossed any of your minds but was Cash Express was terrible when they loaned the money out to you? I mean you did go to them to get money right? And what did they do ? THEY LOANED YOU MONEY ! ! ! WAKE THE HELL UP PEOPLE! They do not drag these people into their stores and force them to take out loans. The customers of a PDL Company do this to their selves. They know all the policies and procedures when they sign their contracts with that company. Have you ever read your paperwork you get from them! If you loaned someone $200 wouldn't you want it back also! They are just trying to get their money back that they on good will gave you with the promise from you that you would pay it back, who isn't holding up thier side of the deal? If you borrow money you should have to pay it back. DONE DEAL. If I loaned you money and you avoided my phone calls or that i was down right unreasonable when you offer to pay me $10 a month on a $500 loan I would do alot worse than threatin to take you to court!

You are wrong!!! Your paycheck can be garnished!!!

not without a court order in the person's county,town,village,or bourough.btw there is a letter called the WAGE ASSIGNMENT REVOCATION letter.once someone sends that,and gives it to their employer then you need a court order slappy.

to #68 i doubt a judge took someone to task about the laws,and let the unlicensed lender skate.nice try idiot.