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Debtconsolidationcare.com - the USA consumer forum

Stop Payday Loans from taking your hard earned money!!

Date: Fri, 08/26/2011 - 12:32

Submitted by rooksilva21
on Fri, 08/26/2011 - 12:32

Posts: 10 Credits: [Donate]

Total Replies: 3


So I know everyone is on here looking for one specific thing. That is for help to get rid of these payday loans. I'm sure most of you agree when you take out a payday loan, you are needing the money for whatever situation may arise and have "intentions" of paying them back with the first paycheck. Well the next paycheck comes around and you either barely have enough to catch up with bills or something else comes up,so now you go ahead and decide that it is easier just to pay the renewal fees in which only allows you to pay the "fee" instead of the amount owed which is the full amount. Well this is called the payday renewal fee cycle. EVERY payday loan lender wants you in this cycle simply because this is how they make their money. This is how they see it. Imagine taking out a 500 dollar payday loan (online) and the "typical" renewal rate these days is $30 for every $100. On a $500 Dollar loan that is a renewal rate of $150 EVERY PAYCHECK Which comes out to $300 a month. This is based off the average of everyone getting paid Bi-weekly or 2 times a month. So $300 x 5 months (average client) equals $1,500 on what has been paid to the Payday loan lender (PDL). And to top it all off you still OWE them the original $500. So what can you do about this you may wonder? There is a program that we have designed specifically to get you out of this cycle. What we do is we lower the payment that you are currently making now and get you on a plan that will SUCCESSFULLY get these loans paid off and also fight on your behalf to ELIMINATE the interest rates and renewal fees. In very few cases we have to turn down a client only because it would be beneficial for them to do it on their own, but give them the advice they need to do so. We are not here to enroll you into a program that won't work for you. We understand that you are already in a hardship and don't want to put you in a further bind than what your already in. So this Thread is not only going to help you as far as giving you advice on what can be done with these PDL's, but we are here to let you know that there are other options other than dealing with them personally. Please feel free to ask anything regarding your situation. I know just about everything there is to know about PDL's and what they CAN AND CAN'T do to you. Remember, there are NO DUMB QUESTIONS!! ASK AWAY!!
:cool:


That's really so good of you, rooksilva!! :) The people who fall into the payday loan mess normally face so much trouble in order to get out of it... I really appreciate your good intentions... but the last part of your post seems to be a kind of solicitation... and that's not allowed in this forum... Nevertheless, the admin will let you know about it if they find anything wrong... Apart from that you are welcome to post in this forum and help members in resolving their payday loan related queries.


lrhall41

Submitted by Anna Sweeting on Fri, 08/26/2011 - 21:16

( Posts: 1827 | Credits: )


hi, well i have several payday loans some online some in store back from march 2010 due to loss of wages and child support i have had no way to pay them back and was looking into debt consolidation, i just received a call from a fraud agent who says pay day one hired a collection agency who then hired this fraud agent to sue me for check fraud if i dont pay them $247 by the 31st of august. she knew all my info my job, my new address everything, i dont know what to do. she said she would speak to the law firm and see if they would accept 157 but said they probably wont and i need to come up with an answer to her by monday or she is going to subpoena me and they r gona go after me for $4,000


lrhall41

Submitted by dillars on Sat, 08/27/2011 - 20:10

( Posts: 14 | Credits: )