PayDay Loan Questions
Date: Fri, 07/23/2010 - 17:34
Submitted by Jennifer Dickinson
on
Fri, 07/23/2010 - 17:34
Total Replies: 5
1. When did PayDay Loans come about?
2. Why are they illegal in New York State, yet I have been able to get them very easily?
3. What states are payday loans legal in?
2. Why are they illegal in New York State, yet I have been able to get them very easily?
3. What states are payday loans legal in?
That would take a bit of research, I can give you a link if you'
That would take a bit of research, I can give you a link if you're in the mood for reading!
http://www.paydayloaninfo.org/
Quote:Originally Posted by Jennifer Dickinson1. When did PayDay
Quote:
Originally Posted by Jennifer Dickinson 1. When did PayDay Loans come about? 2. Why are they illegal in New York State, yet I have been able to get them very easily? 3. What states are payday loans legal in? |
1. 1993, I believe.
2. Legislative decision. I would guess due to the "family" aspect of NY/NJ.
3. There are approximately 28 states where PDL's are allowed. The best way to see where they are would be to go to Advance America, Check N Go or Check Into Cash's website. Between them, they are lending in every state possible, except HI and AK.
Quote:Originally Posted by PDLOwner1. 1993, I believe. 2. Leg
Quote:
Originally Posted by PDLOwner 1. 1993, I believe. 2. Legislative decision. I would guess due to the "family" aspect of NY/NJ. 3. There are approximately 28 states where PDL's are allowed. The best way to see where they are would be to go to Advance America, Check N Go or Check Into Cash's website. Between them, they are lending in every state possible, except HI and AK. |
thnks for this supporting answer..could i find the name of the states where the payday loans are legal....one thing i would like to say Payday loans are a great way to get out of a tight situation. And they are much better than bank loans.
Quote:Originally Posted by Maralyn Jonesthnks for this supportin
Quote:
Originally Posted by Maralyn Jones thnks for this supporting answer..could i find the name of the states where the payday loans are legal....one thing i would like to say Payday loans are a great way to get out of a tight situation. And they are much better than bank loans. |
What makes you think they are better than bank loans, because they're easier to obtain? Yeah right, and pay back hundreds and hundreds of dollars in interest, that is not better. Please do not advocate payday loans at this forum, we are only here to provide information on how to get out of debt.
I admit, I've taken payday loans. They helped me "in that tight
I admit, I've taken payday loans. They helped me "in that tight situation" that was referred to above, HOWEVER, I have to agree with "Shazzers"...yikes - A LOT OF money gone forever, out the door, all in the name of high interest payments. OUCH.