Get Payday Loan Help

Written by David Schmidt. Posted in Payday Loan Debt

Are you in need of payday loan help? Well there are several ways that will help you completely get rid of payday loans. Payday loan help serves as your debt solution to people who are experiencing severe financial hardship. However, it is essential to remember that in consolidating your debts you may or may not need a company to help you although it’s prudent. If, you use the right approach and correct strategies, you can have freedom from payday loans. Here are the different ways how to get real payday loan help.

payday loan help Get money from your home equity- This kind of getting help with payday loans will convert your home equity into cash if you have the equity available. This loan also entails using your home as collateral to get a secured loan. The great thing about this is that you will have just one low rate. When paying all your debts, you will only have one debt to pay again at a low interest rate. One of the benefits of this payday loan help is that it does not involve any bias practices like rollovers or charging high penalties. It also gives you the chance to repay in monthly instalments in a certain period of time.

You can also eliminate your payday debts by way of an unsecured personal loan- even though you don’t have your own home or you cannot use your home equity, you should not feel helpless because you still have another option in the form of unsecured loans. There are banks that issue low interest loans and some people can ask friends or family for help.  Usually, the interest of these types of loan is much higher than the home equity. But still, it will be less of an interest rate than you’re paying on the payday loan, and you will pay less due to the interest rates drop to a lower amount.

If these options don’t work for you, you still have another option and that is to sign up for payday loan help where you can ask for the help of a legitimate debt consolidator. There are a lot of agencies available in the market but very few good ones. So, even if you have bad poor credit and can’t qualify for home loans or a personal loan, there are still agencies that may issue you a loan for consolidation. Our company is one that offers legitimate payday loan help. Our company has a team of specialists that will help in liberating you from your financial burden from the payday loan companies. We offer you assurance in getting you out of the payday loan trap because of our years of experience and our proven effective strategies. We will also use our expertise to stop harassing calls, and provide an affordable structure for the repayment of the payday loans.  Another thing to remember is never use anyone who holds on to your money for months at a time before paying your lenders. These lenders must be paid within a certain time frame. This is why we are so successful.

So there are a few ways to get payday loan help that you can choose from. To make sure you are comfortable, you need to make the right choice and decision as well.  Real payday loan help is available for people who really need the help. Just make sure you check out the companies well that you are looking at.

What is Payday Loan Settlement?

Written by David Schmidt. Posted in Payday Loan Debt

Payday loan settlement attempts just like other settlement programs to help you get out of the constant payday cycle. In payday loan settlement, the agents commonly negotiate with lenders for a lesser amount that will help you pay less than the total amount of your balance. Also, this type program will help you not to experience lawsuits, wage garnishment and bankruptcy.

What are the benefits that you can get when you enrol in a payday loan settlement? Actually, there are five of them. They are as follows:

  1. Assist you to pay all of the debts at a single time: Through payday loan settlement, you will be allowed to repay all your loans at just a single time.
  2. Abolishment of high APRs: Payday loan settlement helps you to reduce or eliminate high APR’s.
  3. It also eliminates your charges and late fees: The charges and late fees that you have will be eliminated during the process of negotiation.
  4. Helps to avert bankruptcy: An advantageous payday loan settlement will assist you in averting a bitter decision like bankruptcy.
  5. Build up peace of mind: Payday loan settlement brings you to the path of peace by decreasing the annoying calls for collection and finally getting your accounts settled.

These are the benefits that you will have if ever you enrol in payday loan settlement program. But before you enjoy these benefits you must speak to a legitimate payday loan settlement company that has the credibility. So here are tips on how to evaluate a good payday loan settlement company.

You must know the fee structure of the company. Also check if the firm has some achievements in the field of settlement. You should enrol in a settlement company that has a good success rate and admirable market reputation.  

Their program must also be well explained, so you must know the complete procedures of their programs. The personnel of the company should tell you all of the settlement procedures before the programs start.

This is what payday loan settlement is all about. If you need the service of a payday loan settlement, you already know the things to consider.

How to Consolidate Payday Loans

Written by David Schmidt. Posted in Payday Loan Debt

If you cannot meet your payments on the day that your payday loans are due you can try to consolidate your payday loan debts. This will help you to pay off your loans much faster. It will also help you from having to write several checks to the lenders each month and keeping track of who you owe and how much you owe. There are several benefits of consolidating your payday loans as well.  Here are a few professional ways or methods on how to do this easily.

Ways you can do this is to:

  1. Calculate the amount of debt: This method  is the simplest and easiest; all you have to do is to write down the balance of your loans and other debts that are unsecured. Making this list will help you get an overall picture of where you’re total debts are at.
  2. Approach a legitimate payday loan consolidation company: Contacting this type of company will assist in you in getting information on precisely how to get your loans set up in a one lump sum payment. This kind of company will offer you one or several programs about regarding debt counseling, that will address your unique financial problems. Your current financial situation will be analyzed by a debt counselor and they will give you advice if you need the program of debt consolidation or settlement.  
  3. Negotiate lower rates: this method  requires the work of a  consolidation company who will negotiate with your lenders for you in order to pay off your balance including interest from your payday loans. This will assure you that the principal loan along with interest will be paid off. Also there is a chance that your fees that are usually late in the payment will be eliminated or cut down.
  4. New plans for payment:  The consolidator will make some arrangements or negotiations for repayment with your lenders. The company will also work with you to determine the maximum payment that you can afford to pay off your payday loans. The real purpose of this method  is to work out an appropriate plan for your loans, so that you can continue paying your debts and get out of the payday loan debt faster. 

It will be your choice if what will be the most effective one for you. But surely all of these ways will be very beneficial.  First it can reduce and stop the interest. Second you can eliminate and reduce late fees. Third it can free you from payday loan debt faster. Lastly it can improve your credibility as a debtor because having defaults, late payments and accounts of charge off have negative impression on your credit score.

Paying your loans day by day is very hard to deal with, and there will be some instances where you cannot meet your payments every month. That’s why it is recommended to look at all the different ways regarding how to consolidate payday loans and get out of debt fast. Having this type of program, you will worry no more about your financial problems. This is how our service has helped so many people put money back in their pockets to pay real bills that they are having a hard time paying now. We are very proud to help so many and we can help you too!  You can truly consolidate your payday loan debts now and get out of this trap.

Pennsylvania Payday Loan Laws

Written by David Schmidt. Posted in Payday Loan Laws

Pennsylvania payday loan laws are simple, payday loans are not allowed in the State of Pennsylvania. (The Check Cashing Licensing Act of 1998 prohibits check cashing agencies from issuing payday loans) But many online lenders try to find legal loopholes around this ban on payday loans.Pennsylvania Payday Loan Laws

Pennsylvania law does allow small loans and the interest rate cap in PA is 26%, but most payday lenders rely on their partnerships with their  federally chartered, out of state banks and claim they are exempt from this law or they align themselves with Indian tribes which operates under their own set of laws. Unfortunately, most payday lenders charge well above 400% APR. We have seen some above 1000%. Most payday lenders know the payday loan laws in PA and that they aren’t supposed to issue these types loans to PA residents but do so anyways. They feel that since most people aren’t aware of the payday loan laws they cant get away with charging high interest and fees. But nonetheless check cashing agencies are prohibited from issuing cash advances based on the basis of a post dated check.

If you have borrowed money and are a resident of PA the debt should be paid back and we can help. Also note, owing a payday lender is not a crime it is a civil matter. We have been hearing a lot of complaints from consumers who come to us stating that payday lenders or over zealous debt collectors are threatening people with jail. It is against the law for a bill collector to make such statements and your debt cannot be discussed with any one else other than your spouse, you and your attorney. Payday loan laws in Pennsylvania should be discussed soon in the states legislature to combat rogue internet lenders operating illegally.

Even though Pennsylvania payday loan laws are clear, if you have borrowed money from payday lenders generally and morally you are obligated to pay it back nothing more. That is where we have helped hundreds of people get these loans and lenders taken care of. And remember you cannot be arrested for owing a debt. Fill out the form to the right to see how much we can save you.

 

Payday Loan Debt Help

Written by David Schmidt. Posted in Payday Loan Debt

Getting Payday Loan Help is a legitimate option for consumers who have too many payday loans. One must realize that using or getting payday loans can be a vital option when you need help for your short-term financial issues. It is wise though to make sure you understand the rates and fee structures before you get stuck with a loan you can’t pay back or end up taking other loans to pay off your existing loans. Here are some points that you should keep in mind when taking out these loans.

Payday Loans Should Only Be Utilized As “Short Term Loans”

You must understand that getting these payday loans are quite easy, but are there to be used only to meet your short-term financial issues. Remember that you should repay the money on or by your next pay period. Where people find themselves in trouble is that when they only pay interest and fees this will continue to add to your payday loan debt.

Some states have laws that allow payday lenders to give you a few extensions but not all payday lenders will offer you this luxury. So, if you are struggling to pay the loan on your next payday, you can check your states laws and or speak to the lender and possibly extend payment dates. Keep in mind though, that any extension will cause a significant amount penalties and this option is only available to storefront lenders, not internet lenders.

Make sure you realize that if you keep putting off the date your loan is due, the penalty will steadily increase and the amount of interest will continue to accumulate. If this happens, it can be increasingly tough for you continue paying on this debt. This is when payday loan debt consolidation help becomes a smart choice.

Payday Loan Debt Consolidation

If you are in a situation that you are getting payday loans to pay off payday loans and most of your check is going towards interest and fees then payday loan debt consolidation should definitely be something you should look into. Also realize you should take action as soon as you realize you might be having trouble getting these payday loans paid or you are just paying so much interest you find yourself not able to pay other bills.  The more you wait, the bigger be your payday loan debt becomes, and the longer it will take for the debt consolidation loan to get you out of the payday loan debts.

In conclusion its best to shop the rates on payday loans in your state and them make sure you can really pay it back on your next payday. If you find yourself paying so much interest and fees that most of your paycheck goes towards this amount it is vital you look to a legitimate payday loan debt consolidation company because you will pay a much lower monthly payment that what you’re paying now. Make sure you get the facts before you do anything.

Indiana Payday Loan Laws

Written by David Schmidt. Posted in Payday Loan Laws

Indiana Payday Loan Laws:

The state of Indiana has specific laws which pertain to Payday Loans. They are as follows:

Legal Status: Legal (storefront)

Citation:  Ind. Code Ann. 24-4-4.5-7-101 et seq.

Standard Loan Terms Maximum Loan Amount: $550 (not to exceed 20% of borrower’s monthly gross income)

Loan Term: Min: 14 days Maximum Finance Rate and Fees: 15%: $0-$250; 13%: $251-$400; 10%: $401-$500

Finance Charge for 14-day $100 loan: $15 APR for 14-day $100 loan: 390%

Debt Limits: Maximum Number of Outstanding Loans at One Time: One per lender; Two total

Rollovers Permitted: None (cannot renew, repay, refinance or consolidate) Cooling-off Period: 7 days after 6 consecutive loans

Repayment Plans available: After 3 consecutive loans, payday lender must offer an extended payment plan of at least four equal installments at no additional charge.

Collection Limits: Collection Fees that are charged: One $20 NSF fee;

Complaints or to get Information Indian Regulator: Indiana Department of Financial Institutions 30 South Meridian Street, Suite 300 Indianapolis IN 46204 Phone:  (800)382-4880

Internet lenders must be licensed in the state of Indiana to lend money to Indiana residents.

As you can see the rates for loans in Indiana are quite high. Although these loans seem quite attractive if you need fast cash its advisable to be very careful not to overextend yourself by getting too many. If you are drowning in payday loan debt we can help!

Another important note is a payday lender cannot threaten you with a “criminal” action to collect on a payday loan debt.

Internet Payday Lenders

Written by David Schmidt. Posted in Payday Loan Debt

There are literally hundreds of internet payday lenders that people turn too when they are struggling to make ends meet. The sad truth we see is many people get in the trap of getting several loans trying to pay off other loans they have.  Internet payday lenders tend to charge anywhere from 300 to 1000% or more. Some even affiliate with indian tribes in order to bypass federal and state laws. We have put together a list of state payday loan laws that apply to internet payday loan lenders which you can view here: http://www.eliminatepaydayloandebt.net/payday-loan-laws/state-payday-loan-laws/

The sad truth is many people do not know how to get out of payday loan debt and what internet payday loan laws that apply. Since Indian reservations have their own laws which precludes them from following State or Federal laws regarding internet payday lenders. Fortunately there are legitimate companies such as Payday Loan Debt Relief who can help people navigate out of the trap.

 

Obama’s Watchdog Agency Now Reviewing Payday Lenders

Written by David Schmidt. Posted in Payday Loan Debt

“It seems payday lenders have finally awoken our federal government along with 19 million Americans who have too much payday loan debt. Below is an article written by Jay Reeves with the Associated Press.”

The Obama administration’s new consumer protection agency held its first  public hearing Thursday about payday lending, an industry that brings in some $7  billion a year in fees nationwide.

The Consumer Financial Protection Bureau said testimony from the session in  Birmingham — where City Council members recently passed a six-month moratorium  on new payday lending businesses amid concern over their prevalence and high  interest fees — would help guide the development of future regulations.

Richard Cordray

Richard Cordray

Director Richard Cordray said the bureau recognizes the need for short-term  loans, but the lending needs to help consumers, not harm them.

“Before this month, the federal government did not examine payday lenders,”  Cordray said. “Some state regulators have been examining payday lenders for  compliance with their state laws. We hope to use our combined resources as  effectively as possible.”

About 19 million American households now have payday loans, officials said.  With interest rates often in the teens and easy application procedures, lenders  said they generate business through radio and television advertising, plus  word-of-mouth and by locating offices in areas where other small-loan lenders  are located.

Many in the standing-room crowd of more than 400 were lending company  customers or employees who wore “I Choose Payday Advance” stickers provided by  the industry.

Tanzy Bonner told a panel she got a payday loan to cover the cost of her  6-year-old’s birthday party; LaDonna Banks said she got one because she couldn’t  work after donating a kidney to her brother.

“I borrowed the money, I paid the money back,” Banks said.

Steven Hoyt, a Birmingham City Council member who supports the moratorium,  urged the agency not to be swayed by such stories because the loans come with  exorbitant interest fees.

“It’s fleecing by any other name,” Hoyt said.

The Consumer Financial Protection Bureau has been in the spotlight because of  Republican opposition to its formation and President Barack Obama’s  use of a recess appointment earlier this month to tap Cordray, a former Ohio  attorney general, as its director.

With GOP legislators blocking the nomination because they said the agency  lacks sufficient congressional oversight, Obama installed Cordray — a move that  Republicans said was an unprecedented power grab. Democrats disagreed, saying  Republican presidents routinely filled vacancies by the same process. Obama  nominated Cordray after congressional Republicans opposed consumer advocate and  Harvard University  professor Elizabeth Warren becoming director.

Republicans kept up the criticism over the bureau’s formation as Thursday’s  hearing began. The chairman of the Alabama GOP, Bill Armistead, said Cordray’s  decisions “could have devastating impacts on an already fragile economy.”

“The last thing we need is another big government agency putting more  regulations on our businesses,” Armistead said in a statement.

Often criticized by advocates for the poor, payday loans are short-term,  high-interest loans that work like cash advances. Storefront payday loan  operations are prevalent in middle- to lower-income areas around Alabama,  sometimes taking over closed convenience stores or fast-food restaurants.

Loan amounts in Alabama are capped at $500 by state law, which limits the  maximum interest rate to 17.5 percent. An industry website said the annualized  interest rate for a 14-day loan of $100 tops 456 percent.

In a typical transaction, a borrower writes a check for $117.50 and gets $100  from the payday lender, who holds the check for a short period before depositing  it. If the customer needs the check held another two weeks, he pays another  $17.50 fee.

Officials said more than 20 percent of Alabama households have taken out  loans from payday storefronts or similar businesses at more than 1,000 locations  statewide. Opponents said the businesses prey on people who lack access to  traditional loans when they get in a pinch for cash.

“People get churned through the system six, eight, 10 times a year,” said  Stephen Stetson, a policy analyst at Alabama Arise, a Montgomery-based  anti-poverty organization. “If we have laws against gouging for gas and water,  we ought to have laws against gouging for loans.”

The head of Ohio-based Community Choice Financial Inc., which operates in  Alabama and more than a dozen other states, said the industry serves some 60  million people nationally and already is regulated by states, licensing  requirements and federal disclosure laws. CEO Ted Saunders said he was offended  by suggestions that payday lenders take advantage of poorly informed people.

“Listening to what you heard here today, you’d think my thousands of  employees go to work every day to hurt their neighbors,” he said. Rather than  enacting sweeping federal rules, he said, states should concentrate on getting  rid of “bad actors” in the business.

A Democratic state lawmaker in Alabama also expressed concern about the  potential for new regulations, defending state oversight of the industry and  arguing that low-income people need access to quick, easy-to-obtain loans. Many  people can’t walk into a bank and get a loan or withdraw money from an automatic  teller, said Rep. Oliver Robinson of Birmingham.

“The people who live in my district don’t have alternatives,” Robinson  said

Source: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/01/05/BUBG1ML04N.DTL

“Its really going to be interesting to see what the Payday Lender lobby will do in regards to this new oversight along with how involved our Government is going to be in setting policy on these payday lenders.”

Utah Payday Loan Debt Laws

Written by David Schmidt. Posted in Payday Loan Laws

A recent bill was introduced in Utah to stop payday loans from spiraling out of control. The bill HB113 was introduced by Rep. Brad Daw, R-Orem. This bill would have created a database which would list people who currently have payday loans or who are in default on one. Once the client is listed, no payday lender in Utah could give them another payday loan.

They claim payday lenders in Utah pressure clients into taking other loans out to pay off other high interest loans.

Regretfully for Utah consumers House Business and Labor Committee voted 9-4 to quash the bill, after several committee members said government should not need to protect consumers from themselves.

Another interesting fact is the payday loan industry gave at least $51,000 in the 2010 elections to Utah legislators, according to the National Institute on Money in State Politics.

Utah typically charge around 521 percent interest, or $20 for every $100 loaned for two weeks. State law allows extending such loans for only 10 weeks, after which interest must stop — but it doesn’t prevent pressured customers from taking out more loans to pay off earlier ones to prevent court cases, collection fees.

You can read more of the article here http://www.sltrib.com/sltrib/home/51351884-76/bill-cases-committee-customers.html.csp

California Payday Loan Laws

Written by David Schmidt. Posted in Payday Loan Laws

california payday loan lawsMany states have enacted laws to protect the borrower from predatory lending and California Payday Loan Laws are no exception. In California, it is considered legal for a company to offer a payday loan or a cash advance.  With that being said there are thousands of “storefront” lenders across the state you can choose to do business with.

On the other hand “internet payday lenders” must be licensed in California to offer loans its residents.

To see if your internet lender is licensed you can find out here: Licensed Internet Payday Lenders

California Payday Loan Laws are as follows:

California Financial Code §§ 23000 to 23106

Terms of a California Payday Loan
Maximum Loan Amount: $300
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
APR for 14-day $100 loan: 459%
Maximum Number of  Loans at One Time: One
Rollovers: Prohibited (No fee can be charge for an extension)

Limits on Collection Fees:
Collection Fees: $15 NSF fee

Again, if you are looking to do business online with an internet payday lender it is best to see if they are licensed in the State of California first to avoid hassles and predatory lending practices.

Frequently Asked Questions About Payday Loan Consolidation

Written by David Schmidt. Posted in FAQ's

Q. What’s The Minimum Debt

A. The minimum debt is $750 in payday loan debt and the fact you may be unable to pay off these loans with your current income due to unforeseen financial problems your facing or because of high interest and fees.

Q. Does Your Payday Loan Consolidation Company Hold My Money?

A. The simple answer is no. Most every company out there will hold your money for two or three months before approaching or paying your lenders. We will not hold onto the payments we receive from our clients as start setting re payment arrangements with the lenders so when you make your first lender payment to us the lenders also get paid as well. Lenders do not wait for months to get paid and one of the reasons lenders prefer to work with us is we don’t make them wait for payment.

Q. How Long Does it Take To Get Started?

A. Once you submit the enrollment form back to us and based on what date you want to begin we start issuing all documentation to your lenders within 2 hours from the date of enrollment.

Q. How Much Does it Cost To Enroll?

A. There is NO up front fee before we get started. We have the lowest processing fee in the industry and you will find it quite affordable and its tiered based upon how many lenders we have to work with.

Q. Can I Be Sued?

A. If you received your payday loans from a storefront lender, yes you can be sued if you haven’t paid them for some time. They are legally licensed to lend in your state and they have the ability to take a borrower to small claims court to recover the money which is owed to them. The purpose of the lawsuit is simply to get their money back. However, most payday lenders would rather not go through this trouble because of the paperwork and legal expenses involved.

Payments are usually sent to your payday lenders after you make your first payment and after we have secured a mutual agreement with them. Immediately, your payday lenders will start seeing the loan getting paid back and it will become illogical and unnecessary for them to sue.

Q. How Do I Apply For This Program?

A. Complete our “free quote” form online. We will contact you and answer all your questions you may have and guide you through the enrollment process. We want our clients completely informed regarding the process before they begin.

Q. Can Payday Lenders Continue to Call Me?

A. Immediately after enrollment, collector phone calls may slow down or cease. We will issue a cease and desist letter to them. Payday lenders have every right to try and contact you in order to collect debt which is owed to them as long as they adhere to the Fair Debt Collection Practices Act Guidelines. We are very aggressive in getting in touch with the lender and working out an arrangement right away. Some companies will wait a few months till you have enough funds in your account. We will not do this and start paying them immediately upon our agreement with them and your first payment into the program.

Q. Can’t I Negotiate My Payday Loan Debts With The Creditors On My Own?

A. You can certainly try to negotiate with your payday lenders yourself. You must realize all Payday Lenders are in the business to make money as its big business and they only look out for their best interest. As our client we look after your best interest not theirs.  The problem is that lenders do not normally make these kinds of arrangements with clients as the default rate is so high. When a client is in our program, the lenders now understand the client is serious about paying back their debt thus the default rate is much lower and the lender gets paid.

Head over to our payday loan consolidation page to learn about how we can help you.

Texas Payday Loan Laws A Simple Breakdown

Written by David Schmidt. Posted in Payday Loan Laws

In the state of Texas Payday Loans Laws are clear and payday lenders are considered legal, but the lenders have certain limits on interest and amounts they can lend at a single time.     Texas payday loan laws

•Term of Loan: 7 – 31 days

•Maximum Rate of Finance and Fees: 48% rate of interest (annually) plus $10 per loan

•Finance Charge on $100 loan for a 14 day period: – $11.87

•APR for $100 loan for a 14 day period: 309%

Texas Payday Loan Laws For Military Personnel

S.B. 1479 protects military members and their families from certain actions in regards to payday lenders, and mandates payday lenders to make special disclosures to military borrowers.

The laws in Texas also require all internet lenders to be licensed. If they are indeed licensed in the state they must abide by Texas state laws.

Texas does allow companies that are Credit Service Organizations (CSO) to lend money to its residents though and are not subject to the laws set forth above.

A Credit Service Organization is defined as:

(a) A credit services organization is a person who, with respect to the extension of credit by others and in return for the payment of money or other valuable consideration, provides, or represents that the person

can or will provide, any of the following services:

(1) Improving a buyer’s credit record, history or rating;

(2) Obtaining an extension of credit for a buyer; or

(3) Providing advice or assistance to a buyer with regard to paragraph (1) or (2) of this subsection.

How do TX Payday Loan Laws Pertain To You?

If you would like more information on how these laws work and how they pertain to your situation please fill out the form to the right and we will rush you a free quote. We are the premier payday loans consolidation in Texas.

North Carolina Payday Loan Laws

Written by David Schmidt. Posted in Payday Loan Laws

Up until 2001, the practice of issuing payday loans was completely legal. But North Carolina state government decided to rule against the legislation allowing it continue with the help of Attorney General Roy Cooper.

North Carolina, now has specific laws regarding usuary or small-loan rate caps that would make payday lending illegal under the rates usually charged with these loans. Subsequently, it is now prohibited.

According the State Attorney’s Generals office they don’t not consider a payday loan debt a legal and enforceable debt. Although when the money was borrowed it should be paid back but lenders are limited in their course of action.

The act of payday lending via internet though exists since regulation is very uneven and payday lenders are often able to get around the NC state laws by offering loans over the Internet (Still Prohibited), or if the lenders are using one of the alternative business structures: cash rebates, or CSO “Credit Services Organization” method.

If the lender is offering small loans using the above allowable methods the interest rate cap on loans 36% per annum.

Since the money was borrowed it should be paid back but nothing more. These lenders are very agressive in collecting such as calling your employer, references and you. We have helped hundreds of North Carolina residents get out of these loans so we can absolutely help you as well. Please fill out the form here on our site for a free quote or call us directly at 877-734-6700

Please feel free to contact us if you have any questions or need any help whatsoever.

Lastly, if the payday lender or debt collector is harassing you, threatening to garnish your wages or threatens you with going to jail you can file a complaint and can do so by going to http://ncdoj.gov/Consumer/2-2-12-File-a-Complaint.aspx

Are You Being Harrased By Debt Collectors? A List Of Your Rights

Written by David Schmidt. Posted in Debt Collectors

Are debt collectors calling constantly bothering you at home or worse at work? Some of these collectors are extremely agressive and will stop at nothing to scare you or harass you into paying them. Most people do not know their rights and what the laws are which are there to protect you. Follow along here and I am going to advise you as to your legal rights and you can download the actual Fair Debt Collection Practices Act at the end of this article.

Debt collectors are ruthless and the most complained about industry on the Federal Trade Commissions website. As well the abuses and threats by aggressive collectors are appearing to be getting worse. These tactics they are using can cause terrible stress for consumers. As well, its imperative you know what rights you have.

The laws in regards to what debt collectors can do may be difficult to comprehend but we will break it down and give you  few key points of the law to teach you what you can do to protect yourself:

What Tactics Are Off Limits For Debt Collectors?

Harassment. Debt collectors may not harass, or abuse you or any family members they contact. Such as, they may not:

  • They cannot use verbal threats of violence or physical harm.
  • Post or publish a list of  people who have not paid their debts (they can only give this information to the credit reporting companies)
  • Repeatedly use the phone to harass a debtor or their family.

False statements. Debt collectors may not lie when they are trying to collect a debt. For example, they may not:

  • Claim they are attorneys.
  • Claim that you have committed a crime or that the police are coming for you.
  • State that they work for a credit reporting company.
  • Inflate the dollar amount that you may or may not owe.

Debt Collectors Also Are Prohibited From Stating That:

  • You will be arrested if you don’t pay your debt. There is no debtors prison and owing a debt is a civil matter not a criminal matter.
  • They will seize, garnish, attach, or sell your property or wages unless they are permitted by law to take the action and intend to do so.
  • Give out false credit information about you to anyone, including a credit reporting company.
  • Send you anything that looks like an official document from a court or government agency if it is not associated with such agency
  • Use a false company names to sound more threatening or legitimate.

Unfair practices. Debt collectors may not engage in unfair practices when they try to collect a debt. Such as, they may not:

  • Try to collect any interest, fee, or other charge on top of the amount you owe unless the contract that created your debt – or your state law – allows the charge.
  • Deposit a post-dated check early or try to tap your account for more money that you may or may not owe. Payday Lenders are notorious for doing this.
  • Take or threaten to take your property unless the matter has gone to court and the agency has a judgment against you.

Here is a copy you can download and read to gain a better understanding of your rights and debt collector’s responsibilities. Download Fair Debt Collection Practices Act.

By printing out this information and knowing your rights you can protect yourself from Debt Collectors and their harassment.  If you feel you are being harrassed by overly aggresive debt collectors you can file a complaint  with the Federal Trade Commission at FTC Complaints or you can contact us with any questions on the contact us page. We want to help.

Payday Loan Debt Scam – Public Announcement

Written by David Schmidt. Posted in Payday Loan Debt

A lot of our clients have called claiming people are calling them trying to scare them and threaten them into paying an old or non existent payday loan they have.  These men have a very thick Indian accent. These men are claiming to be affiliated with payday loan debt companies like  Cash America,  Allied Financial Services, Advanced Credit,  and CashNet USA and several other different payday loan companies names.

These men are absolutely fraudulent payday loan debt collectors.  I am listing some of phone numbers below for you to check:

914-612-7156

415-200-0177

206-204-4835

909-580-8968

972-322-2888

626-380-0420

916-458-4838

213-286-0291

213-985-7627

206-607-0716

530-463-1643

760-514-0147

707-633-4788

818-688-7266

415-236-1916

213-985-7627

704-456-1060

714-600-6000

310-401-6743

530-419-2193

These men will even claim that you will be arrested and placed in jail unless you send money to them via Western Union. They will even threaten to call your place of business and report to your boss or that you have a lawsuit against you when you were never notified to begin with.  Here is what one of our clients said about their call from these crooks.

I received a call yesterday and they left a very threatening message saying I need to get a lawyer and to have the lawyer call them. I called the number back to find out what was going on and I said if you ever leave a threatening message on my phone again I will call the cops he said go ahead we are affiliated with the cops. He said that there were 3 counts of fraud or something against me for taking out a loan from US Cash and not paying it back. He said US Cash tried to withdraw the payment and it was declined and so I am being sued and I will be arrested for fraud, etc. I asked how much it was for he said $921.49 with interest and late fees but could not tell me the exact loan amount he said it was deposited on March 4, 2010. I called my back and there was nothing deposited to my account except my paychecks, I called the local police and filed a report because this guy had all my personal information including my bank account number, social and my friends name he even knew where I work. I also filed a complaint with the FTC, the FBI, the attorney general in California where he said the company he was calling from was and I filed a complaint with the attorney general in my state. He said he was calling from Law Group of California, and his name was Brandon Jackson I looked it up and could not find anything. The number used to call me was 530-463-1643.

As you can see from what the client wrote us is that these guys are very demanding and their tone is to intimidate you into paying them.  The sad part is its working and some people are actually paying these crooks to keep the police from showing up to their house or work.  I am telling you right now that is completely false and will not happen.  There hasn’t been a debtors prison since the civil war. As well owing these payday loan companies debt is a civil matter not a criminal matter. The majority of these type of  telephone calls are usually made on a Friday or during the weekend when government offices or the payday lenders you “supposedly” owe money to are closed.

The name of the payday loan companies these frauds give are completely false.  The scammers use both the name of a real payday loan outfit and will even use an attorney’s name  to make the person think it’s legitimate if they check it out on the web. Please do not fall for these trap.  As well never ever give out your bank account information to anyone claiming you owe them money to avoid jail.

If you ever receive this type of call whether you owe payday loan companies the debt or not call the payday lender and find out if there is something legitimate or not. As well please go your state attorney general’s website and file a complaint although they are bombarded with these complaints.  The FTC also allows you to file complaints online.  The FTC’s website is:  https://www.ftccomplaintassistant.gov/

The FBI has also stated these tips:

If you receive these calls, do not follow the caller’s instructions. Rather, you should:

  • Notify your banking institutions.
  • Contact the three major credit bureaus and request an alert be put on your file.
  • Contact your local law enforcement agencies if you feel you are in immediate danger.
  • File a complaint at www.IC3.gov.

Tips to avoid becoming a victim of this scam:

  • Never give your Social Security number—or personal information of any kind—over the telephone or online unless you initiate the contact.
  • Be suspicious of any e-mail with urgent requests for personal financial information. The e-mail may include upsetting or exciting but false statements to get you to react immediately.
  • Avoid filling out forms in e-mail messages that request personal information.
  • Ensure that your browser is up-to-date and security patches have been applied.
  • Check your bank, credit, and debit card statements regularly to make sure that there are no unauthorized transactions. If anything looks suspicious, contact your bank and all card issuers.
  • When you contact companies, use numbers provided on the back of cards or statements

Source: http://www.fbi.gov/news/pressrel/press-releases/paydayloanscam_120710

If you have been targeted by these crooks whether you have payday loan debt or not, please leave a comment with their numbers so others can benefit from this as well.

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