Payday Loan Testimonals
Date: Thu, 11/13/2008 - 09:50
I am working on a report to help get payday loan stores closed down in my community. Part of our report will consist of testimonals and stories from individuals who have been taken advantage of by payday lending stores. Is anyone willing to share their story, consisting of why they took the
loan out, how many times they have been flipped, and anything else? All submissions will be anonymous in our report. Please help out a college student!
I have only had internet lender issues but I am sure there are d
I have only had internet lender issues but I am sure there are dozens of stories that can be collected here. I will keep bumping you up so more people will read your post!
Does anyone have a story to tell to help the cause?
Does anyone have a story to tell to help the cause?
there are tons of stories in the community success section
there are tons of stories in the community success section
reply
which pdl are you looking at?being in illinois myself there aren't a whole lot of companies doing pdl's now.most are doing signature loans or installment loans.only USA PAYDAY and SHORT TERM LOANS LLC are the only two i know of.
With all due respect, you are beating the perverbial horse. In
With all due respect, you are beating the perverbial horse. In Illinois, the state has all but shut down the industry. What you need to be focusing your energy on is legislation that would protect the borrowers from offshore and illegal internet lenders. This would not only inlcude legislation to allow individuals who want to borrow the opportunity t do so, but also an education program about the pitfalls of borrowing from unregulated internet lenders.
There have now been numerous studies from the FDIC and prestigious universities that have found that even at it high rates, there is a defined and definate need for PDL's. In states that have regulated the industry out of business, the negative effects on the population have exceeded any expectations.
Keep your focus, but change it to provide yourself a chance at success. As much as you and others here personally may not like our business, there is a need and demand for regulated lenders.
Actually, There are many payday loan retail locations in Illinoi
Actually, There are many payday loan retail locations in Illinois. Even though there is legislation against payday loans, all of the companies have gotten around it by calling them "installment loans" but they are exactly the same thing.
All I am looking for is for someone to share their story.