Are we not escaping paying payday loans?
Date: Sat, 01/16/2010 - 00:51
Don't you think that we as customers are required to check the background of a company before applying for a loan?
The lenders might be acting fraudulently but are we not also trying to escape paying by borrowing from illegal lenders?
Curious to know what you think.
No one is escaping anything here except the illegal lenders by N
No one is escaping anything here except the illegal lenders by NOT following the laws of the state where they are extending loans. They are suffering the consequences by not collecting the permitted amount of interest allowed by the state. This forum does not advocate NOT paying back what they borrowed, in fact we advocate quite the opposite.
These lenders know they are not legal. The consumers are not tr
These lenders know they are not legal. The consumers are not trying to do anything wrong. as I thought these people where honest. And if these companies where legal they would be charging resonable rates. and if the consumer knew the nightmare they would be going through I bet they would have never taken these loans to start with. A few houndred dollars have turned out to be thousands for me.
And these lenders count on the desperation of financially stress
And these lenders count on the desperation of financially stressed borrowers to keep them in business. When bills are piling up and the rent is due, all you want is a little relief NOW and think about the ramifications later.
The plain fact is, many of these internet lenders misrepresent t
The plain fact is, many of these internet lenders misrepresent themselves; I've personally seen various sites for PDLs' where they offer testimonies from "satisfied customers" in my State, where PDLs' are illegal. Now anyone who's new to PDLs' would see that and have every reason to believe that the company was legal in my State. Too, if a company was legitimate and on the up-and-up, if I'd sent them an application and they saw it was from a State where they are illegal, shouldn't the responsibility fall on THEM, at least to a degree, to say 'we aren't legal in your State, therefore we can't accept your application?"
i agree with the others.. we always advise to pay back what was
i agree with the others.. we always advise to pay back what was borrowed.. always.
as for not doing research, that is easier said than done. I live in a state where loans are prohibited but many lawyers and even a few workers in the public offices (sadly) do not know these loans are not legal.. they are not but it is something that is not talked about, i guess. of course a simple search on google might have helped but most sites tell you not to take loans because they are expensive or whatever, this is the first site i have ever seen that breaks it down and mentions state laws, etc. i had no idea when i applied.. i also overpaid companies by thousands of dollars on loans i never should have taken.
on this board, we try to educate consumers not to fall prey
