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gmakerley · Posted: Wed Dec 16, 2009 3:16 pm Post subject:

whoever spots the advertisement for this outfit named "nofaxpaydayloans" - please don't "take advantage" of their offer. they will be the ones taking advantage of you. in case you haven't noticed, we have hundreds of posts on this website reflecting the troubles that payday loan companies have caused for people. they're not a reasonable borrowing vehicle, obviously.

rita2 · Joined: 23 Apr 2010 Posts: 286 51.03 Dollars($)

Hi,

It is true that most of these payday loans are illegal and they do not have any registered office. They charge abnormal rate of interest and they are not actually bothered about the principle amount because of the high interest. The borrower ends up paying three times than what they borrow. There are companies who helps in consolidating payday loans.

gmakerley · Posted: Mon May 03, 2010 11:02 am Post subject:

Rita, I think you are incorrect in stating that most of the companies are illegal. Although there are states that prohibit payday lending, such as Connecticut, they are legal in most states. I agree that what they do is heinous, and their rates are to be considered usurious, as are their tactics. I will rail against them regularly, but until such time as they are legislated out of existence, they will remain legal wherever they do exist.

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