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erb1953 · Joined: 24 May 2008 Posts: 79 0.19 Dollars($)

I could see where one could get themselves into this very easily these days with the rising costs of everything, needing a few dollars to get to the next payday is sometimes pretty rough.

If someone is contemplating taking out one of these loans they should onl borrow what they absolutely have too and pay it off in the following payday to make sure that they are not wrapped with all the crazy fees that go along with it.

They act as if they are doing you a favor by only collecting the $90 service fee while your principle never goes down until you start your $50 paydowns after the fourth $90 fee is collector. This is no matter what the loan amount is or how long you keep it out. I was reading through some of the debt forum posts, I can not believe how much they actually rack people for a $300 or $400 loan. I guess people get into desperate situations and have to take the loans out or feel they have no other choice but to do it. I hope that once people do this and then pay it all back that a lesson is learned to try and manage money a little better and make it from pay check to pay check.

jbarto65 · Joined: 04 Nov 2007 Posts: 622 -0.15 Dollars($)

They do encourage you to pay them off on the very first payday, but then extend the offer to just pay the fee if that is all you can do, people often find themselves not being able to pay off the entire loan as soon as the first payday and this is where the trouble begins.

erb1953 · Joined: 24 May 2008 Posts: 79 0.19 Dollars($)

I would hope through sites like this that people will get the education they need to atleast make an informed choice about weather to take one of these loans out or not.

I would hope that these sites would educate people on the need to manage money and keep themselves payday loan free. It seems to me that the payday loan companies do in some part take of taking advantage of people in bad situations.

As far as encouraging people to pay them off with in the first paycheck, the fees are so high that people can not afford to pay them off with the first paycheck and end up making the payments and paying them two to three times what they have borrowed. I still think if they want to help people out they should lower their fees and be a little more user freindly when it comes to paying those ridiculous fees.

fireyone_02 · Joined: 20 Mar 2008 Posts: 280 2.09 Dollars($)

Two or three times is outragous. They just had a special on this scenario on TV. They even suggested that it would be better to take an item to a pawn shop before going this route. I guess most pawn shops will give you so much of a percentage of the items value and hold that item for a certain period of time to give you a chance to b uy it back. I am sure it would cost a little more to retrieve the item but it would be better than payday loans. I just wouldn't take grandmas jewels or any other personal item that you could risk losing.

tequilasueohmy · Joined: 30 Jun 2008 Posts: 2 2.01 Dollars($)

i have almost 6,000 of payday loans and i don't have any idea how i am going to pay them off. i have been paying over 1000 amonth just in fees that's 12000 ayear. i just decided to stop paying any of them. i get calls at work on my cell and my home phone all day long.they won't even let me make payments they want it all or they are going to turn them in for collection.i paid 10 per check to put a stop payment on them so i woulndn't get all the fees at he bank but they never stop. i make 50000 a year and i still don't know hoe i got myself into this mess

Niicss · Posted: Tue Jul 01, 2008 4:02 am Post subject:

Welcome tequilasueohmy.

You should try to make some settlement and pay them off ASAP. Otherwise it will be very tough for you as they charge so high you cannot get yourself out of the vicious circle of this payday loans. Pay then off and stay away from these payday loan companies if possible.

Let me know if you have any further queries.

Guest

Langehorne Law and T&C (Town & Country Acceptance Corp...what is that contact information or website

Guest

Hello.

Is it a collection agency? I haven't seen any website of this company. Are they harassing you?

Guest

Has any one used this company to help with consolidating their pay loan debts you have a sign up fee and then you pay them so much money per month and the pdl companies you owe get paid tru them...I am leary of them it sounds good but I was windering if anyone has used them at all to help.

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi ajb.

Welcome to the forum. You can go for debt consolidation to payoff the due payday loans. I know a community that helps people to get out of the debt problems. You can take a look at Debt consolidation care community on this regard. Feel free to ask if you have any further questions.

Best of luck,
Larry

Guest

Just for everyones info, not all payday loans are legal in all states! especially if they are internet payday loans! if they are not licenced in your state than the contract is void!! there are state laws for payday loans

sara · Posted: Wed Sep 17, 2008 5:23 am Post subject:

Thanks for the info Jennteal.

Guest

I am devestated. I have 5 loans . I am in serious trouble

smithsussane · Posted: Mon Nov 16, 2009 12:20 am Post subject:

Hi ann!

Welcome to forums!

I would suggest you to contact a debt settlement company and try to settle the debts with the payday loan companies. They will negotiate with the payday loan companies and try to reduce the debts by 40%-60% thus making it affordable for you to pay off the loan.

Feel free to ask if you've further queries.

Sussane

Guest

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