I live in Oklahoma and have found myself in payday loan debt. I had to close my checking account due to me losing my checkbook. I cannot afford to repay them all at once and one place told me I had to pay 50% at a time. That is 250!! It is completley stressing me out!! They call me all the time. I was wondering what the laws are here and can they sue me or will it be sent to collections? I am just trying to figure out the best solution and fast!!!!!!!!!!!
Oct
06
Do payday loan lenders have to work with you?
Published under Fast Payday Loan Guranteed If Employed by admin.
There are 5 Responses to “Do payday loan lenders have to work with you?”
#2 Doctor Deth - 12 October, 7:02 PM
Didn’t you read the rules when you got the payday advance - I’m sure everything was spelled out in writing - of course they can sent it to collections - why is paying it back in halves so outrageous? - normally you have to pay it back in full with your next paycheck after getting the loan
#3 Payday Loan Advocate - 13 October, 4:40 AM
I watched the latest debate between Barack Obama and John McCain. Although the “town-hall”-style TV debate attracted more than 60 million viewers, the majority were not satisfied with countless indirect answers to many of the questions that were asked that night. Instead of providing firm resolution for the well-being of all Americans, they hope to bring on a larger number of citizens to take sides by means of personal criticism. McCain continued to proclaim his “stay the course” stance on Iraq and his oil drilling policies. On the other hand, Obama carried on criticizing Republican policies that he claimed have led to America’s current recession. This unremitting action of theirs only leaves us wondering exactly how either of them would work to prevent further economic catastrophes. America needs a logical economic proposal. Obama encourages the scheme to wipe out the payday loan industry, which is not a logical solution to the real economic problems we face. This is only to add more flavors for the banking and credit union appetizer.
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#4 burymeinblack - 16 October, 1:18 AM
The laws vary state to state, and the application of the laws depends greatly on each payday loan company. The contract you signed when you took out the loan would be the best place to start - it should have all of the terms fairly easily laid out.
At the payday loan store I work at in AZ, we do our own collections for a few months, and then if we can’t make contact with the customer and they never come in to make any payments, we send them to an outside collection agency - at that point is when it would probably affect your credit. For our locations in other states, I know that they skip the collection agency altogether and just take the customer to small claims court.
I would advise you to definitely stay in contact with them and make the largest payments you can make, even if that means borrowing money from a couple of family members. You really don’t want to be sent to a collection agency or taken to court, because neither of those are very attractive options.
#5 Payday Loan Advocate - 22 October, 5:05 AM
The eyes of the American nation were fixed upon Hempstead, New York, on Wednesday, October 14th, 2008, for the third and final U.S. Presidential Debate. The Democratic candidate, Sen. Barack Obama, of Illinois, went into the debate with an eight point lead, and he was indeed content with it. The Republican candidate, Sen. John McCain brought it hard to his opponent, challenging his expertise, character, judgment and proposed policies. Obama’s position on the economic policies of the last eight years was far more critical than McCain’s, though he maintained that he is “not President Bush.” Both pledged that they would make cuts in the federal budget, McCain pledging to enact an “across the board spending freeze,” and take a hatchet to some programs whilst using a scalpel on others. Obama’s take was to “go through the federal budget page by page, line by line” in order to cut out those programs that are dysfunctional. Both of the candidates pledged to bring the change that America needs, but what does that mean? For instance, many politicians want to do away completely with the payday loans industry. Should they succeed, it will mean the end of the freedom to choose for the consumer, and the triumph of certain interest groups (the banks and credit unions, who have gotten themselves in enough trouble already) over the freedom of we, the American People.
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I know there are laws out there to protect you from this predtator find some free legal counseling around your area and see what say about that. The will send you to collections and they can ultimately sue you….but you and your family are more important than these people so don’t let them take away your sleep, change your phone number.