drowning in payday debt
Date: Sat, 05/29/2010 - 09:25
If you borrow money, you are morally obligated to pay it back, w
If you borrow money, you are morally obligated to pay it back, we don't advocate NOT paying your debts.
Quote:Originally Posted by ShazzersIf you borrow money, you are
Quote:
Originally Posted by Shazzers If you borrow money, you are morally obligated to pay it back, we don't advocate NOT paying your debts. |
I know alot of peoples not paying it tho n nothing happen to em.
Quote:Originally Posted by AnonymousI know alot of peoples not p
Quote:
Originally Posted by Anonymous I know alot of peoples not paying it tho n nothing happen to em. |
I am here to offer advice to people on how to get out of debt, I simply can't advocate not paying back your debt. That is the same as stealing! There are payday lenders who aren't licensed to lend, it doesn't mean you shouldn't pay back what you borrowed, less the interest and fees, however, if the lenders are licensed and following your state payday loan laws then you are obligated to pay back the loan as well as the interest and fees.
Quote:Originally Posted by ShazzersI am here to offer advice to
Quote:
Originally Posted by Shazzers I am here to offer advice to people on how to get out of debt, I simply can't advocate not paying back your debt. That is the same as stealing! There are payday lenders who aren't licensed to lend, it doesn't mean you shouldn't pay back what you borrowed, less the interest and fees, however, if the lenders are licensed and following your state payday loan laws then you are obligated to pay back the loan as well as the interest and fees. |
I don't believe you are "morally obliged" to pay the pigs back.
I don't believe you are "morally obliged" to pay the pigs back. Those people use money as a weapon. Repay them and they will use the funds to provide their "service" to some credulous mother of three whose future cash flow will go to paying the pigs' 1,000% interest rate (with evil compounding schemes no doubt).
That being said, you may or may not be legally obliged to repay those people. That depends on your state. A good resource would be your state Attorney General's office. Call them up and describe your situation (include information pertaining to the interest rate and the way in which the loan is structured). If they're illegal and you can cease payment they'll tell you.
[QUOTE=Anonymous;705425]I don't believe you are "morally obliged
[QUOTE=Anonymous;705425]I don't believe you are "morally obliged" to pay the pigs back. Those people use money as a weapon. Repay them and they will use the funds to provide their "service" to some credulous mother of three whose future cash flow will go to paying the pigs' 1,000% interest rate (with evil compounding schemes no doubt).
That being said, you may or may not be legally obliged to repay those people. That depends on your state. A good resource would be your state Attorney General's office. Call them up and describe your situation (include information pertaining to the interest rate and the way in which the loan is structured). If they're illegal and you can cease payment they'll tell you.[/QUOTE]
As I said before, purposely NOT paying back the principal amount borrowed is the same a stealing. This forum does NOT advocate borrowing from payday lenders and purposely NOT paying back, at least what was borrowed! Payday lenders who aren't following the laws are nothing more than criminals, anyone who borrows from these business's with the purpose of not paying them back are stooping to their level, karma will pay a visit to individuals who stoop to low levels.
Quote:Originally Posted by ShazzersAs I said before, purposely N
Quote:
Originally Posted by Shazzers As I said before, purposely NOT paying back the principal amount borrowed is the same a stealing. This forum does NOT advocate borrowing from payday lenders and purposely NOT paying back, at least what was borrowed! Payday lenders who aren't following the laws are nothing more than criminals, anyone who borrows from these business's with the purpose of not paying them back are stooping to their level, karma will pay a visit to individuals who stoop to low levels. |
Quote:Originally Posted by AnonymousI guess im a thief then. Peo
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Originally Posted by Anonymous I guess im a thief then. People do anything for money as long as i don't kill someone for $ then it's okay i don't feel bad. Im not afraid of karma anyways. |
It's your decision.
See this is a good portion of people that I have to deal with, a
See this is a good portion of people that I have to deal with, alot of people take these loans with absolutley no intention of paying them back. There are thousands of customers that we have helped in a bad time and they fell behind, worked out a plan an repaid. People want to know why the fees are so high it's because of these people here that take out 6-11 loans and never pay them back, people get these loans, they know the terms and that the loan is governed by where the lender is located it's all disclosed up front
Quote:Originally Posted by AnonymousSee this is a good portion o
Quote:
Originally Posted by Anonymous See this is a good portion of people that I have to deal with, alot of people take these loans with absolutley no intention of paying them back. There are thousands of customers that we have helped in a bad time and they fell behind, worked out a plan an repaid. People want to know why the fees are so high it's because of these people here that take out 6-11 loans and never pay them back, people get these loans, they know the terms and that the loan is governed by where the lender is located it's all disclosed up front |
We don't advocate this type of behavior from people who borrow money with the intention of never paying it back, however, we also do not advocate payday lenders who do not follow the law and charge interest rates and fees that are above and beyond what is permitted by law, as far as I'm concerned that makes both of you thieves.
By the way, in most states, the payday loan laws the borrower is located prevails, I'm not surprised you misrepresent this on your website.