How can you tell which ones are real and which ones are fake?. Every time I apply online at a jerk calls me with an Asian accent. He thinks that I'm so nieve.
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- Rose Brockett · Cicero- North Syracuse High SchoolIts a free county so if I want a loan from the indians an I read the terms an conditions an know how it works then it should be my right to go through with getting the loan I have have 5 loans with the indians an now because of the state I live in when times are hard an xmas is around the corner I can no longer get thete help its BS
- Jamie Smith · Top CommenterThey'll simply move offshore just like online gambling. The product is in demand and people are going to seek it out. Might as well keep it open and regulated.
- Divalle ColbertMaybe, but best they be banned entirely or undergo extremely strict FEDERAL regulatory restructuring as to their business structure. Yes, people will seek it out but with FAR TIGHTER restrictions people CAN & WILL be weened off of such reliances. Retailers, etc. will feel the brunt as well as the 'Financially-Strapped Populace'.....BUT...... this will essentially cause Community Bankers to have to come to some albeit FORCED-agreement to again offer non-preying and legally-proper Consumer Loans to community residents without the bureaucratic documentation required by these pilfering payday loan shyster's.
- Jamie Smith · Top CommenterYou're dreaming. Increased regulation is not going to kill demand for the product. And banks are not going to take these people on because of the risk. At least not without charging more themselves. Risk vs. reward. You can regulate till your hearts content then it will simply move underground and we're back to the days of seeing your local mafia agent at the corner bar instead of going to a brick and mortar licensed payday operator who operates under oversight that allows him to charge a higher rate legally.Reply · · November 14, 2013 at 5:41am
- Charles Stern · Top Commenter · Philadelphia, PennsylvaniaWho is conducting this actual financial business of loan sharking: the Indians on the Indian reservations (autonomous regions, but not independent states) or the banking and processing corporations? I doubt very much that this is the brain-child of men with the equivalent of sixth to eighth-grade educations, who possess a reading level of a sixth to eighth grader and an intelligent quotient of no more than 90. How much are these banks and processing corporations giving to these Indians and toward the development of their reservations in turn for using them and their autonomous lands to commit this visceral form of graft and malfeasance? The Indian reservation is not a state within a state; it is an autonomous region, which must abide by the rule of law of the land, which happens to be the U.S. Something smells insidious in the scheme of things, especially the targeting of low-income persons from whom to extort money. Find the culprits. I wouldn't be surprised to find the culprits outside of these autonomous lands, nor would I be surprised to find out that the culprits are European Christians.
- Cindy Conley KeasI don't believe any arms were twisted to force anyone to borrow money from these companies. I've known of people that had unexpected expenses where they wrote a check to pay for them and rather than bounce a check with the bank , they borrowed the money from these so called predators. To borrow $100.00 to deposit into their checking account to not bounce a check and be charged a minimum of $35.00, they simply paid back the "predator" $117.50 approximately 14 days later. It's simple math, which would you rather pay? Not to mention if your check was actually returned, that would be another minimum $30.00 to the person you wrote the check to which has now cost you $65.00. In addition to this, if your bank account was that tight, this check you wrote may have even caused more than one check to bounce. It seems pretty cut and dry to me. If this is a "predator", I guess I'd have to say I'm in favor of them.
- Divalle Colbert"I don't believe any arms were twisted to force anyone to borrow money from these companies....." What a farce of a comment! EACH AND EVERYDAY millions of U.S. Citizens are forcibly added to the "Financially-Strapped" populace due to ongoing corporate practices and/or just plain "lack-of" something. So there 'ARMS' as you stated, do not have to be twisted for it is there LIVELIHOODS and in many cases, their VERY SURVIVAL that is AT RISK of being IRREVOCABLY and IRREVERSIBLY depleted. For once the damage is done the downward spiral is fast into absolute poverty and homelessness! Creditors are extremely quick today to turn your account over to another abusive institution: COLLECTION AGENCIES which is the catalyst for the cause of such downward spirals into poverty and homelessness!Reply · · November 14, 2013 at 5:37am
- Divalle ColbertIt is a VICIOUS CYCLE: From high-to-low incomes -to- payday loans to pay threatening & harassing Creditors / Utility Companies / Mortgagors and/or Landlords -to- more payday loans to afford a wee bit of groceries -to- food pantry's that dispense expired, out-dated food -to- transportation costs to look for work each and everyday and babysitting costs, if any -to- poverty & homelessness with no place to stay but in your vehicle until that is repo'd.
No, no arms need to be SELF-TWISTED for they are ALREADY BEING TWISTED by:
Corporation's: continued Lay-Offs / Restructurings / Mergers & Acquisitions / Cutbacks
Utility Companies: continuously threatening cut-off's just one day after the due date and sending accounts to collection agencies that are equally abusive and charging EXORBITANT OUTRAGEOUS fee's in addit...ion to the original debt amount.
Mortgagors & Landlords: still either foreclosing on homes or threatening evictions
Car Companies: threatening repossession even if individuals pay half with a signed, written letter of agreement to pay the other half BEFORE months end and with that final payment actually made just days or 1 day before the last date of any month. (yes, I have been told of such cases, numerous times)
Grocer's: steadily increasing costs of foods due to higher labor costs primarily and then due to higher operating costs. And now increasing legal costs due to increasing consumer lawsuits regarding onset of 'food-borne' illnesses due to selling products that are too near their expiration date (one Virginia chain sells a lot of such products).
With such GLARING FACTS and equally DISPARATE FINANCIAL ATROCITIES affecting the "Financially-Strapped" populace today it doesn't take much for otherwise rational U.S. Citizens to run to the nearest financial institution that will actually GIVE them ACTUAL CASH without a LONG, EXCRUCIATING WAITING PERIOD.
Therefore, the only "arm twisting" being done is by those businesses/creditors cited above.
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See MoreReply · · November 14, 2013 at 6:37am
- Edith Abrams · Top Commenter · Franklin, North CarolinaI got payday loans and believe me these vultures behind these loans will suck the blood out of you. However I found out these loans are illegal in NC and I won't and refuse to pay the scoundrels back another dime. I already have in interest so therefore I owe them no more. And get this MYCASHNOW got in trouble. I should have known something sneaky was going on. I couldn't access their website the same one as I did when I took out that stupid loan, anyway there was a number you had to call since the website said error and to call this number well I did got a fast talking foreign guy who kept asking over and over my ssn. Well then he proceeds to tell me MYCASNNOW is no longer accepting payments and I will need to go to Walmart, get a moneygram, now that fool wanted me to do this before 10:00pm that night, and send it to Credit Pr...otection Depot which I didn't intend to do, but he gave me all these little code nos. to send it too and I knew right then he was a con but I played along anyway and kept making him repeat himself since his English was like a broken record, and I said now what is this Credit Depot and he says a professional co who accepts payments, then I said goodbye, and never heard another word from him and he didn't get the moneygram either. so whatever you do if you have these loans now do not send Credit Protection Depot one dime they are crooks and overseas operation, don't give them any info, I closed my checking acct out got new nos. so they won't be taking anymore out of my account and yes my bank is keeping check on them too just to see what tactics they will try to pull. I want to see all these criminal payday loan sites closed, sued out of business, but they will just go to another warehouse and try something else so beware. I won't to see them in prison where Madoff is. Not any difference. See More
- Divalle ColbertSo HAPPY and relieved that you didn"t follow that "fool's" instructs to send a Walmart moneygram before 10:00 PM !Reply · · November 14, 2013 at 6:50am
- Divalle ColbertPayday Lenders have fast been allowed to plague the financially-strapped populace like an all-encompassing viral disease that cannot be eradicated nor extracted without causing some form of extreme damage to its victims. The very fact that these businesses whether online or on land can charge such exorbitant amounts of money for such SMALL-CAP loans is preposterous beyond comprehension.
Obamas Administration should look into derailing the entire industry by banning such ABUSIVE-ORIENTED practices implemented by these establishments.
BUT on the other side of the plate IS the issue of how such establishments are telling their employees that they can refuse potential customers-in-need by just saying that they "feel uncomfortable doing business with you WHEN YOU QUESTION their reason for requiring the EXPOSURE of all your pe...rsonal banking transactions [only 5 non-selective 'posted-transactions' required to be exposed as told by one employee] (exposing YOUR PRIVATE INFORMATION as to your Creditor's / Bill Payments / Stores you shop at / Other businesses) and thereby refuse to loan you money as well as refuse to transfer your 'account' to another location in that state.
Plus derail your life-progress financially by "blacklisting" your account. INDEED, these businesses are nothing but an un-necessary plague because banks refuse to do what they were originally intended to do and that is - - to service their communities by making properly-structured and legal loans to their community-based customers. Which is what allowed a niche for such a rogue business-model in the first place.
IF ALLOWED to continue any of their management practices these business operator's will surely only drive the financially-strapped populace further into a deep pit of irreversible debt which will soon only result in economical threats to retailers and other consumer-driven businesses slowing down business for them.
Yes, this business-type is not adequately serving its customers but instead setting-them-up for a slow abysmal pit into repetitive poverty and citizens need to wake up, smell the coffee, and stop passively, allowing themselves to be financially-undermined and placated like minions. Citizens need to start protesting these establishments and begin demanding that they either be banned from doing business or that their business-practices be re-structured to ABSOLUTELY ENSURE THEY FOLLOW U.S. FEDERAL LAWS not just State Laws which allows them too much leeway. See More- Jamie Smith · Top CommenterWhen you ban the legal brick and mortar lenders than tony soprano will step in and loan to them instead. Keep living in your leftist dream world.Reply · · November 14, 2013 at 5:43am
- Divalle ColbertIt is time citizens worldwide begin SELF-protecting their own financial privacy rights as well as their rights to fair APR rates from such PREDATORY lenders. This issue must be dealt with in the same manner as the Predatory Mortgage Lender epidemic that caused one of the worst economic downturns since the 1920's due to ALLOWED 'Credit Default' investment instruments, etc. within our financial institutions. It is time that Americans "PUT YOUR FOOT DOWN & TAKE NO MORE" from these shyster's.
Began at http://www.petition.org - Craig Newmark · Case Institute of Technology · 247,802 followersImportant work from groups including the Consumer Financial Protection Board (@CFPB).
- Karine Aguilar · Top Commenter · Works at SelfInstead of this - the government should go after credit companies - but I can imagine that these crooked polititians have their hands in CCC's pockets...
- Divalle ColbertAGREED !Reply · · November 14, 2013 at 6:53am
