Thinking of getting a PDL? Take a look...
Date: Wed, 10/14/2009 - 11:33
Maybe someone researching PDL's will see this:
After learning the hard way and doing a lot of research on the various payday loan operatives it is very clear that they freely pass your financial info around.
If you see a deposit from StarCash Processing and did not apply with them you can thank whoever you DID apply with for giving them your info - even if (esp. if!) all you did was 'shop around' with one of the online brokerages.
Think of it this way - would you cheerfully respond to one of those Nigerian scam emails by giving them your name, address, birthdate, social and bank info? Would you trust them to not mis-use that info?
Well when you apply for a loan online that is EXACTLY what you are doing! You just tossed all of your personal info onto the WWW for anyone and everyone to latch onto! They now have everything they need to not only drain your accounts but also to perpetrate identity theft if they want to.
Give that info to one - you just gave it to all of them!
More and more of these online lenders are outside of the USA. They can and they will steal your money with impunity. Do not trust the storefronts, either, if you wouldn't give all that info to the crack dealer on the corner - then don't give it to the PDL's! Yeah, I know, there ARE legitimate lenders out there - but can you be truly certain who they are? Check 'n Go is big and respected but they got into serious trouble in WA for mis-usage of customer info. No more CnG storefronts here.
I'm not trying to preach or scold at anyone - I have done all of this and got in serious financial difficulty with this whole mess and am trying to do damage control for myself, and maybe hopefully help someone else to not fall into this deadly trap.
Need money and cannot scrounge it from anyone? Pawn your TV, car, stereo - do whatever you can, but don't ruin your life with PDL's. The quick fix is not worth the lifelong consequences.
After learning the hard way and doing a lot of research on the various payday loan operatives it is very clear that they freely pass your financial info around.
If you see a deposit from StarCash Processing and did not apply with them you can thank whoever you DID apply with for giving them your info - even if (esp. if!) all you did was 'shop around' with one of the online brokerages.
Think of it this way - would you cheerfully respond to one of those Nigerian scam emails by giving them your name, address, birthdate, social and bank info? Would you trust them to not mis-use that info?
Well when you apply for a loan online that is EXACTLY what you are doing! You just tossed all of your personal info onto the WWW for anyone and everyone to latch onto! They now have everything they need to not only drain your accounts but also to perpetrate identity theft if they want to.
Give that info to one - you just gave it to all of them!
More and more of these online lenders are outside of the USA. They can and they will steal your money with impunity. Do not trust the storefronts, either, if you wouldn't give all that info to the crack dealer on the corner - then don't give it to the PDL's! Yeah, I know, there ARE legitimate lenders out there - but can you be truly certain who they are? Check 'n Go is big and respected but they got into serious trouble in WA for mis-usage of customer info. No more CnG storefronts here.
I'm not trying to preach or scold at anyone - I have done all of this and got in serious financial difficulty with this whole mess and am trying to do damage control for myself, and maybe hopefully help someone else to not fall into this deadly trap.
Need money and cannot scrounge it from anyone? Pawn your TV, car, stereo - do whatever you can, but don't ruin your life with PDL's. The quick fix is not worth the lifelong consequences.
Just about all I can add to your post is "Amen." Most of us her
Just about all I can add to your post is "Amen." Most of us here have been in the PDL trap and are much wiser now about how these outfits operate. I just wish there were some way that, when people go online to apply for a PDL, that a "popup" (like the ads) would show, letting people know what they're getting into.
