NAME 100 Best PAYDAY LOAN COMPANIES in USA
Date: Mon, 04/13/2009 - 12:17
You guys know in and out so let me know. there name and phone # and the contact name. I will appreciate that.
I would have to say none. If you borrow it and can't pay it back
I would have to say none. If you borrow it and can't pay it back in 2 weeks then you are getting ripped off. Best best is to go with out something or borrow from a family member or a friend. Just read all of the horror stories about payday loans and then really think about it before you do. I will not rec any of them.
I understand it - but think about the people who have no way to
I understand it - but think about the people who have no way to get the money - and they need it or they will loose the battle..
I understand that completely. I have been in that boat where I a
I understand that completely. I have been in that boat where I almost took out a PDL. I needed to have gas in my car so I could get to work, I needed to make sure the kids had food, I had to make sure that the power/heat/rent was paid. I have been there. What I ended up doing was the following. I walked/rode my bike (not motorcycle), I (myself) went with out eating for 3 days, and during that time I also contacted the local food pantry to get some help. I ended up talking with my friends, family and others so I could do some oddjobs to make some cash to get me by till my next paydate. Then on that paydate I was able to call all of the places that I owed money too and worked out payment arrangements. That was my low point. I had no pride then, to money, and nobody to turn too. I am sure if I would have taken a PDL or 2 or 3 and so on..that I would be living on the streets now and my kids would be in foster homes. My point is this, do what ever you can to stay away from these places.
I don't think payday loans are the way to go, just look at all t
I don't think payday loans are the way to go, just look at all the stories posted in the payday loan section. BUT and this is a BIG but, I would not do one over the internet, chances are they are illegal. I would find a store, and then would check the store against CFSA/BBB etc.
okies... but do you guys know any good ethical BBB certified com
okies... but do you guys know any good ethical BBB certified companies...
Agreed. I thought I could keep control of it but could'nt. Don't
Agreed. I thought I could keep control of it but could'nt. Don't do it if you are not 100% sure you can pay the WHOLE thing back on your next payday. If you absolutley must take one out go to a store, don't take one out on the internet and NO MATTER WHAT do not take out more then one!
And if you must use a store front try and use one that is a memb
And if you must use a store front try and use one that is a member of CFSA...Link
Lot's of good answers and some pie in the sky answers (no offens
Lot's of good answers and some pie in the sky answers (no offense Vlad!). The first question that needs to be asked is what state are you in? If there are no store fronts, then they are not legal in your state! If this is the case, then try friends and family. The reality of this direction is that many of our families and friends cannot spare $100+, but may be able to spare $20. It may help, but the big picture is that you probably will not make much headway with the small amount.
If you have "free" time outside of your fulltime job, call a temp agency for additional hours. From my conversations with them, they need alot of people for short assignments and can occassionally put you to work within 24 hours. There are also some placement agencies that handle day labor. This means that you get a check each day when you leave.
If you want to go to a PDL and there are storefronts in your area, be selective. You can even call the BBB for assistance. List your state and I will see if I can steer you somewhere that I am familiar with thier procedures.
Hi, Payday Loans Equal Very Costly Cash: Consumers Urged to C
Hi,
Payday Loans Equal Very Costly Cash: Consumers Urged to Consider the Alternatives.
I'd say the best PDL is one you DON'T have a loan with... I don't understand how paying WAY TOO MUCH money for so little money is going to make one "lose the battle". You'd be better off panhandling....
"Pie in the sky" answer!! HAHAHAHA! Thanks for the laugh! :D It sounded down to earth, practical, and responsible to me.
Glad I could give you a chuckle!!! Your reaction is probably th
Glad I could give you a chuckle!!! Your reaction is probably the same as the relative's when you ask to borrow $300!!!
"Down to earth, practical, and responsible" is what happens when you live in an ideal world. Unfortunately, we live in the real world and most family and friends can't spare $300!
Any type of loan you obtain with a high interest rate isn't OK,
Any type of loan you obtain with a high interest rate isn't OK, IMO, not just payday loans but ANY type of loan, including CC's.
i also agree that payday loans are nothing but trouble. they are
i also agree that payday loans are nothing but trouble. they are designed for you to fail, if you need $200 or so that badly, than how can you afford to pay off the fees and interest?
i really understand, i am so broke right now, it literally depresses me to the point where getting out of bed is a struggle. but what can i do? i cannot take out a payday loan.. for one, i cannot afford the fees, second all loans are illegeal in my state and third my idenity got stolen from applying to online lenders.
if you must, legal storefronts (check with the BBB) is the way to go but i would try anything first to avoid them.
I'm sorry, I can't in good faith advise you to do this--since in
I'm sorry, I can't in good faith advise you to do this--since in my experience, PDL's cost me nothing but grief. They might be a good solution in the short term, but trust me, you will be paying for your decision for a long time.
You start off with one, and then need another one just to pay off the first one when it's due two weeks later, then you need another one and soon, all of your paycheck is going to PDL fees. Don't do this!!
I'm just saying that I don't understand how anyone can be so des
I'm just saying that I don't understand how anyone can be so desperate for cash that they are willing to put a bear trap on their leg and hope it won't snap shut before they can wiggle out. If you need $300 so badly that you are willing to be raked through the coals, then I think that $300 is the *least* of your problems and you have a bad debt situation that needs to be looked at and dealt with *now*. Ok, I can understand Cash Call. $1000, $1500, I can see one needing that. But $300?
The problem that I see with this discussion is that most of the
The problem that I see with this discussion is that most of the people on the forum fall in one area of the spectrum, the far end that had a negative experience whether caused by the lender of themselves. To catagorize all PDL customers as being "trapped" or "having a bear trap on thier leg" is unfair and wrong. A majority of the borrowers in this country understand the cost, accept the cost, appreciate the service and explored other options before getting a PDL. Along with the positive experience with the transactions, a large majority also pay thier loans on time and do not default. Contrary to popular belief, most bankruptcies do not have PDL's. Before you say it, no, it is not because they are left out, it is because they did not have any!
I believe that I understand your displeasure with PDL's based on past experiences, but to catogorize everyone, both lenders and borrowers, as abusers of the product is unfair and again, incorrect. Problems, on both sides, are in the minority and unfortunately, publisized the most.
BTW, chrys, need is in the eye of the beholder. You question $300, but do you realize that the gross check for a full-time, $7.50/hr employee for a week? Actual cash or net would take that hourly amount over $8.50 and closer to $9.00 per hour!
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my beef is mostly with internet pdl's.most if not all are illegal and are meant to trap the person.while storefronts at least will work with the consumer.they actually regulated almost every storefront pdl out of existence in IL.a few remain,but most only offer title loans or installment loans.
i agree, my biggest problem is also the internet ones.. in my st
i agree, my biggest problem is also the internet ones.. in my state, all payday loans are prohibited so every company i am experienced with is illegeal.
i have been in a situation where $300 really could have helped me out, so I do not doubt that - my main concern is that if the poster is having trouble getting $300 will s/he have trouble paying it back?
I don't believe that the OP mentioned how much they were looking
I don't believe that the OP mentioned how much they were looking for, I brought the amount in to the discussion based on the "typical" storefront loan.
PDLOwner, you're right, I also assumed it would be in the $200/$
PDLOwner, you're right, I also assumed it would be in the $200/$300 range, just from experience for a first time loan with a company.
My beef is also with the underhanded ILLEGAL lenders that bank o
My beef is also with the underhanded ILLEGAL lenders that bank on the fact majority of consumers are uneducated in these types of loans at the time they borrow. YES it is our resposibility, but taking money out without authorization, threats, and unprofessional behavior is not worth a $300 loan.
We discourage using them at all costs! That you will see posted again and again untill these goons are out of business. Sorry if that offends the good guys, but we all know it takes one bad apple to spoil the bunch :?
PDL Owner, I do agree that a storefront PDL is definately a bett
PDL Owner, I do agree that a storefront PDL is definately a better choice over an IPDL, but I have to disagree with your statement that most people use the loans for a short-term. They might not default, but that $300 is going to cost them way more than that in the long run, what with paying an approx. $45 fee every two weeks to renew it--and I'm sorry, I saw the same people in line every two weeks when I went in to renew mine.
The whole PDL business model relies on people paying those renewal fees every two weeks--and the more people who do that, the more money the business makes. I'm sorry, this does not help consumers get out of debt.
Yes, I know how little $7.50 an hour can bring you on a paycheck
Yes, I know how little $7.50 an hour can bring you on a paycheck. And that is *precisely* my point. They are due in full plus charges on the next payday. HOW CAN THEY PAY IT BACK??? They are being set-up to bleed slowly into the open mouth of a loan shark who has the gall to pat them on the head and tell them they're doing the right thing. It's as bad as debt settlement companies. Kick 'em when they're down and then charge them a hefty fee for the beating. :shakes head: Oh yeah, and smile while they're doing it!
When my PD loans were taken out, I didnt know they were illegal
When my PD loans were taken out, I didnt know they were illegal. I still cant figure out how I found this site that has helped me so much.
Why, why and why wont banks offer small 6 months to a year loans. Why cant they figure out how much business they can do?? I think if they would at least lend small term loans they could take a lot of business away from these PD lenders.
Any one have a answer...
Some credit unions do but they are few and far between. My cr
Some credit unions do but they are few and far between.
My credit union has small signature loans avaliable but as with most banks or credit unions you must have good credit to get one.
drop9drop, I agree completely. Signature loans are quite hard
drop9drop,
I agree completely. Signature loans are quite hard to come by these days.
I think that if they believe you are a bad credit risk, they can charge a high interest rate in case you default, but I believe they should refund the extra money if you end up paying on time like a good debtor. Charging a good payer 30% is unconscionable. Charging them 100s of percentage points is completely unacceptable.
i agree, i do not see how they call people with bad credit a ris
i agree, i do not see how they call people with bad credit a risk and the bad ones when in the end they end up bleeding us dry...
Quote: Why, why and why wont banks offer small 6 months to a
Quote:
Why, why and why wont banks offer small 6 months to a year loans. Why cant they figure out how much business they can do?? I think if they would at least lend small term loans they could take a lot of business away from these PD lenders. |
Answer, answer and answer...
There are some CU's that do, but reports are not favorable. Apparently, they are having a hard time covering thier expenses and defaults at the small amount they charge. If they were so profitable, every CU would be offering them, as it stands there are current about 4% offering them.
Wells Fargo, US Bank and 5th/3rd are offering a similar product, but you MUST have direct deposit to qualify. This is so that they are guaranteed to get thier money as soon as your check goes in.
And finally, banks do not want to be "bothered" by the little guy. They want business accounts, investments and mortgages. You and I are a nuisance item.
[quote] i agree, i do not see how they call people with bad c
[quote]
i agree, i do not see how they call people with bad credit a risk and the bad ones when in the end they end up bleeding us dry...
[/quote]
You're kidding, right? :shock:
Quote: Yes, I know how little $7.50 an hour can bring you on
Quote:
Yes, I know how little $7.50 an hour can bring you on a paycheck. And that is *precisely* my point. They are due in full plus charges on the next payday. HOW CAN THEY PAY IT BACK??? They are being set-up to bleed slowly into the open mouth of a loan shark who has the gall to pat them on the head and tell them they're doing the right thing. It's as bad as debt settlement companies. Kick 'em when they're down and then charge them a hefty fee for the beating. :shakes head: Oh yeah, and smile while they're doing it! |
Settle down and quit calling people names. You "dismissed" $300 as a nominal amount. I just put it into perspective and showed that your opinion about the value of $300 must be vastly different than a person that puts in 40 hours per week at $7.50-$8.50 per hour. It is the difference between keeping the lights on, rent paid, medicine in the cabinet or food on the table. Not everyone can be a fortunate as you and can get by without that $300 for those items.
BTW, where did anyone say that they were going to loan $300 to this $7.50/hr employee??
Um...I'm a little thrown off by that comment as well. Interest
Um...I'm a little thrown off by that comment as well. Interest rates are determined by risk and your ability to repay. I think this practice is acceptable. With FHA, it is now possible that if you have borderline credit you can still get a good rate.
But I have to say, and I do have borderline credit, I think it is ok to charge a higher rate to someone that has bad credit. It's all about risk.
i can see charging someone higher interest (and my credit is bea
i can see charging someone higher interest (and my credit is beat!) i just do not see it being as high as most payday loans are.. it is not the high interest that bothers me so much as it is with the treatment of customers with bad credit, we really do get treated like second class citizens at times and i do not think that is fair.
that is what gets to me the most about illegal payday loans (i never had experience with a legal company, so i am going to be fair and just speak of what i know). i hated how i overpaid them by nearly a thousand dollars and they screamed at me, threatened me, lied to me, embarrased me at work. it was the kind of treatment that really makes me hate them. i can see that i got myself into the situation, i can even see that i agreed to pay their stupid, over-priced fees (I was paying $30 for every $100.. if it is a $300 loan, for example, that's $90 a pay for just fees). but i can see that being my fault. the harsh customer service is all their blame.
PDLOwner, no I am not kidding - not everyone with bad credit doe
PDLOwner, no I am not kidding - not everyone with bad credit does not pay their bills. I never missed a car loan payment ever and I still have to fork over extra interest money. Up until this current apartment I never was late on rent (my first time late ever was last year). But dispite this I cannot rent in a complex because they pull credit checks, I have to rent to a private owner who charges more and I live in a worse area. I always pay car insurance, and have a perfect driving record but had trouble renting a car because nobody would give me a credit card to cover.. the list goes on and on. so I do not think that everyone with bad credit is a risk and i do not always think the credit system is fair. I paid $800 on a $300 credit line, i paid everything.. how is that fair? that, by the way, was an account where i missed one month payment, I did not blow them off, nothing. as i said in a previous post, i can see higher interest being charged to people with bad credit but do not see why it is necessary to keep beating us down.
My statement about rates did not apply to PDLs. I agree, pdls a
My statement about rates did not apply to PDLs. I agree, pdls are outragious.
And I know, you do get treated like a second class citizen sometimes. I'm not the norm for the business. Maybe it's because I have made some bad financial decisions and dealt with having bad credit. Some guys in the business don't even call people back to let them know they don't qualify. I think you should call them back and let them know and at least give them some ways to get themselves back on track. I direct a lot of folks to this site.
sassy lil brandy, thank you. i understand. i work in foreclosur
sassy lil brandy, thank you. i understand. i work in foreclosures myself and i really feel for the people losing their homes. but i see how ruthless some people are and it makes me sick of how they get treated, it really does. the people who lose their homes have no idea how much i can relate and i get told everyday how relieved they are to speak with me, because i am the first compassionate person they met in the whole process. but working with foreclosures, i can see both sides of the story but still think whats right is right.
i wanted to edit my post to say that at the time of my car loan, i never was late on a payment. that since changed, heh but still it was nothing that was reported on my credit report or even serious.. some people have bad credit due to family members, emergencies, sudden illness.. it does not mean everyone is a deadbeat :(
Hey bea, I feel for your situation and also realize that some
Hey bea,
I feel for your situation and also realize that somewhere you paid bills late or not at all. More than likely, you were young and foolish but are paying the price now. Remember, a creditor can only look at the big picture on a consistent basis and you are saying that your picture is not real colorful. Because of your past history of non or late payment, they need to charge more to you for the risk that you have created. The brightside is that it can be corrected and based on what you say, that is what you are doing!
As for being treated poorly by the illegal lenders. Not much that I can say, they don't bother to get necessary licenses so why should they worry about customer service...
PDLOwner, I do understand what you are saying, and I am trying t
PDLOwner, I do understand what you are saying, and I am trying to be very fair. i just think that these days it seems like nobody but a very small few have the kind of credit that they like to see and eventually lenders are going to have to be more flexible..
for example, my debt problems was a little more than me being young and foolish - but that again is what i am saying. it is assumed that because of my age (not by you, but people who met me - i actually am still quite young) that it was just stupid mistakes. but as i even shared with my story here, my debt came from medical bills, problems with mental illness between family and loved ones, homlessness.. the list goes on. and these were not things i really could have prevented for the most part. i am trying my best to make my credit better but it is going to take a long, long time before it will. my problem is not even with the high interest that is given to me, it is the sheer fact that i cannot get any credit at all.. i was working part-time in college and was given a $7,000 credit limit but now I usually work two jobs and cannot even get a $500 one for emergencies.
We live in a different world now. You WILL fix your credit as l
We live in a different world now. You WILL fix your credit as long as you have stopped the issues that damaged it. Things will get better, but it will not happen overnight.
Good points by all, but this discussion has gotten waaay off top
Good points by all, but this discussion has gotten waaay off topic.. :shock:
What happened to the OP??
The top 100 payday loan companies? NONE. 'nuff said.
The top 100 payday loan companies?
NONE.
'nuff said.