e payday loans

Looks like you've been ripped off by this company.

I've had a negtative balance on my checking account two straight paydays in a row because of them they don't care if you need to make payments or whatever they want their money no matter what.. I wish I could've just gotten a loan through a family member or something.

thanks for listining to me rant, and you should talk to your bank if they are still debiting money from your account you might be able to put a stop paymnet on it... sometimes they can do it for the ACH debits too.

Hey All,

I'm Harry, working in a financial organization from last 8 months. I just wanted to introduce my self as new comer into the forum and hope to learn and share. According to me, Payday loans are an invaluable source of money to those who need it, and by using a payday loan company to arrange your next short term loan you know you are borrowing money via an entirely unique type of loan. APR of payday loans are normally higher than traditional (normal) loans. If you are in need of a small amount for a short duration then only you go with payday loans.

Harry Hamlin

[Link deleted as per forum rules. Thanks.]

harry you are way off base in your analysis of payday loans. to advise people to "only go with payday loans" is not only short-sighted, but it's just plain irresponsible. we've seen on these forums far too many posts from people who have suffered at the hands of payday lenders - just above on this forum, in fact.

from what i've seen and heard about these horrendous loans, i advise anyone who can avoid them to do so at all times.

so your 8 months of experience at a financial organization gave you all that insight? i hope your newcomer status will allow you to learn, learn and learn. please be careful to learn far more than you share; you're surrounded by individuals who participate in these forums and who have many years of experience in financial organizations.

Payday loans are about the highest interest there is aren't they? Sound more like a last resort option to me than a prefered choice.

Like most financial products though, they have their place if used correctly. Problem is, the people that use them most are the ones that have the least financial education and often are the least prepared to manage the repayments, hence falling further and further in debt.

that's precisely how i see it too, rise. payday loans are specifically targeted to those with the least financial acuity and wherewithal.

if you're solid financially, would you see yourself resorting to a payday loan? the funds are supposed to be a stopgap between one pay check and the next, and nobody with a solid financial position is going to be in need of one of these, i'd like to think.

and yes, i recognize that people have hardships. i've never been immune to those myself.

I am quite a bit up set. I get calls from epayday loans. I have never heard of them before but they say I took out a loan and they are taking me to court. They say this loan is from 2008. I filed a bankruptcy since 2008. epayday people are extremely rude and threatening. What do I do how do I find out where this is coming from?

Welcome rebornrose,

You should contact an attorney and take legal actions against them. The attorney will guide you as to what steps you need to take in this matter.

Rose, I'm not sure what sort of legal action you can take without knowing what the facts are here. If you ever took such a loan, and if you had that loan discharged in bankruptcy, then they cannot take any action against you. If you never took such a loan, then perhaps they've simply made a mistake in contacting you.

If you feel you're being harassed beyond measure and irresponsibly on their part, you can contact the Federal Trade Commission (look up FTC online) and file a complaint with them. They are happy to go after unscrupulous collection agents.