General discussion about payday loans

Kam,

It took me some time to learn these straight facts about payday loan companies. It's good that you are aware of their business activities and the summary given by you will help the newbie.

Most of these companies do not have the proper legal papers and their purpose is to scam people. On these circumstances, they are leery about reporting to the bureaus in order to avoid investigations. We need to keep ourselves away from these fraudulent companies so that they don't use our personal and bank information for making money.

It is true that hard times make us deal with such companies as an easy option, but if the later consequences about dealing with them are found stressful, we will feel much better if we avoid them right from the beginning.

Kam, spread the word as it seems you have a good knowledge about their activities. Join this community and you will have a good time here. The sign up in this forum is completely free of cost. You have to enter your contact information here:

http://www.debtconsolidationcare.com/signup/

Hi Kam,

These are points I am learning myself. I got caught up in the payday loan cycle for a long time. I was afraid to do anything about it until I knew I had nothing else to lose. I joined this forum last week and it has been a great help to me. I've learned so much and the people here are very kind and patient. :-) I'm trying to learn more about the license issue myself. Let me know if you find anything more out. Thanks for your post.

Excuse me, I collect Cash America and Cashland payday loans where I work, and not once have I said they will be arrested, and I know which states wage garnishment is legal in for those debts. The lions share of the time, the one being harassed is me when the non-paying deadbeats yell "F--- you!" and call me the C word. What a bunch of parasites!

I too began working my way out of the payday loan trap. It was scary at first, but then I became educated and realized that there was a way to negotiate repayment with out falling behind on my house payment and other "neccessary" bills. And without falling for the scare tactics or pressure to pay today or be arrested/have your kids taken away.
ARI
If you have not once said that a client of yours will be arrested, than you are one of the few collectors who plays by the rules! I have been told by at least 3 different companies that a sheriff would be coming to my place of employment to arrest me for bank fraud. All this was said when I told them I could not send payment in full, but could send X amount on these dates. I also have been threatened with wage garnishment almost every time, and when I have explained that in Texas, there must be a court order invloving a student loan, child support or IRS debt - I was called derogatory names. I have been told to get a lawyer so I could keep my kids and called every name in the book. I was unable to keep the terms of my aggreement due to an unforeseen medical emergency involving my son - but told that I planned this all along...called a deadbeat, waste of breath etc, etc.
I commend you if you are playing by the rules of fair collecting. Just as we do not want to judge you based on our experiences with seedy collectors, please don't judge us, the people in debt who care, by the actions of an unpleasant customer on your end.

We all deserve to be treated fairly. Some of us were at a very desperate time when we turned to payday loans, feeling relief that we would get the loan and be able to keep our lights on...but what we didn't realize is that these lenders weren't the answer, that these loans will almost surely drown you. We are here on this forum to help and educate each other with knowledge of our past mistakes, so that someone may feel a little hope when trying to pull up their financial boot-straps. We would love to hear any advice from the collection side of the fence - with the intent of helping us better understand how to negotiate, or deal with or understand the laws/tactics that are used to reach a fair and timely payment agreement for all parties.

Happy New year to each and everyone of you!

I have a very general question here. Some collectors don't accept any payment plans from the people. They should realize that they are getting the money. Isn't it better to take it now and then later take larger payments when financial situation of the consumer improves?

During this time, if a collector tries to scare the person thinking that he might recover the total debt, he should understand that no person wants to invite insulting words for himself. It is due to some problem only because of which he is not able to pay at present. Why does a collector use obscene language that can hurt an individual? Some of the consumers lose their cool and they return back. These insulting words are exaggerated by some collectors later. They have got what they gave. They should be professional in the beginning so that they are able to maintain their self-respect.

I am not specifying anyone here. It is the general problem and there should be a solution of this thing.

I made the error of leaving it and ignorong contact, just made it worse.

Just deal with them in a sensible way, make an agreement to pay what you can comfortably afford and they will be stupid to refuse.

I recant some of what I said earlier. True, I hate having yuckmouth hurled in my general direction, but I also hate payday lenders, they are a bunch of lying, thieving, conniving charlatans.

Ari,

It's nice to know that there is someone ethical and honest in the collections business out there, especially with payday lender. I myself got caught up in the trap and am now working with a debt consolidation company to arrangement payment plans with them. I am running into problems with one. I have a feeling it's only going to get worse. Don't they understand that I want to pay the debt? They don't need to be ruthless and use the scare tactics of we're going to throw you in jail. It's a hard lesson learned. Good luck on your job search :-)

Ari,

I wish you could have been one of the collectors that called. It seems to me that you would have tried to work something out that was affordable.

Mom of Twins,

If none of my plans pan out, then I think eventually we will meet on the telephone! You said Worldwide Asset Purchasing has your account now? They are a client of Protocol Recovery Service! That's where I work! One more thing, I would most certainly work your account in a conversational manner. You won't see me marching in formation with the rest of these creeps shouting "Heil Collektor!" I would rather set up a fast payment plan than a slow if not nonexistent balance in full. I didn't crawl out from under a rock one morning, traipse into a collection agency, and have a job waiting for me. I know how the world functions. "Hard times" does not accurately describe your situation, hard times sounds to me like living in a box unable to feed the kids. The phrase or slang term I think suits the situation of raided checkbook and noncommittal creditors as "Taking a total screwing".

Good luck!

Ari, I really have words of praises for you. You make me think about a lotus flower that grows in a dirty pond. No matter the collection business is becoming questionable each day, but it will be a pleasure to have a collector like you on my debt accounts.

Thank you Ben, I'm very flattered! :D

can i be arrested for not paying back a payday loan. i had thought i had filed bankruptcey on payday loan come to find they were not included. it has been 3 years and i am unsure what to do

Hi Lynn

Although creditors can force you legally to pay the debt but they can't send you to jail for not paying it. Take a responsible step and arrange a payment plan with them and avoid all the legal actions. Most of the lenders are willing to work with you if they understand your willingness to pay the debt. Never miss your payments with them. They might even reduce the total debt by eliminating the financial charges and other late fees.

Check the statutes in your state and verify if the debt is within the legal collection period. Debts go out of the SOL period based on the date of last activity. Can you tell where this account was opened? I will check the state laws and confirm if you are still legally required to pay the debt.

Once and for all, the answer to whetheror not people get arrested for being in debt is N N OOO
NN N O O
N N N O O
N N N O O
N NN OOO
Do we all get the picture? I love you guys, but many of you are dangerously naive!

I keep getting calls from this number and i was wondering if you could tell me who it is 800-897-5276

How do you find out what the laws are for your state? Is there a website I can go to?

800-897-5276 is the number of Washington Mutual Card Services. There is more info in this thread

http://www.debtconsolidationcare.com/forums/about11978.html