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Payday Loans Scrutinized

Posted by admin on Jun 18, 2011 in Uncategorized | 38 comments
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With more American’s struggling financially, payday loans are coming under scrutiny as for trapping the working poor in a vicious cycle of debt. Armen Keteyian reports.
Video Rating: 4 / 5

Payday loan companies are a bad financial idea. They feed your impulse to spend what you do not have, as well as as well as so they charge you exorbitant fees as for it. I completely comprehend the mentality of haveing your paycheck prior to payday. It’s certainly a stressful feeling to not have money accessible. But heading from to a payday loan company is not the solution. Those companies charge exorbitant fees as well as you run the endanger of turnedting into amazinger debt. Payday loan companies are at the edge of a slippery financial slope that may be difficult to turned back over the best of. Once you go into a payday loan company you typically publishdate a check as for the numeral you would like to advanced, plus a fee. They provide you the cash as well as when the date turned froms the company cashes the check. Payday loan companies are supposedly convenient some nevertheless incline to trap people in a never-ending spiral of debt. The best method to avoid them is to budget your money so you do not ever spend money you do not have. Whenever you have to negotiate goes along with your creditors or borrow some prompt cash from a family member, as well as so do it prior to you go to a payday loan company. Whenever you are chronically short over cash or whenever your payday never sawms to conveniently coincide goes along with your attributable to dates, you may conceive needing out a little, low-fee credit card to bridge the gap. Once furthermore, nevertheless, do not spend more than you have. Whenever you maynot pay back your credit card bill as well as so do not spend that money in the first place. There are another alternatives to payday loan companies, as well as the …
Video Rating: 4 / 5

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38 Responses to “Payday Loans Scrutinized”

  1. esif22 says:
    June 18, 2011 at 2:09 pm

    To get started with your payday loan, complete our online application and within minutes our representatives will begin to review your information and inform you of your approval status.

    Reply
  2. Doughball222 says:
    June 18, 2011 at 2:47 pm

    Let me tell you something because I know it first-hand. A majority of these payday lenders are seedy, corrupt bottom-feeders. Take W. Allan Jones, owner of Jones Management and Check Into Cash. A known and quoted racist, W. Allan Jones’ payday lending company, Check Into cash, preys on the working poor and minorities. What’s worse, Bank of America and Wachovia are responsible for funding Check Into Cash and W. Allan Jones! Thanks to Senator Corker for accepting money to lobby for them!

    Reply
  3. cashloanme says:
    June 18, 2011 at 3:27 pm

    Hey Look! When you need cash than try getting one at cashloan.me and if you don’t like what they offer you google cash loan and search for others. Its really that easy. Oh, and don’t borrow so much dang money but I mean what are you going to do if you need the money? does the video say who else is going to loan you?

    Reply
  4. Georgeta7704 says:
    June 18, 2011 at 4:26 pm

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    Reply
  5. guideyoutoeasymoney says:
    June 18, 2011 at 5:09 pm

    do you love making money???? /watch?v=hlf7Al-SC2Q

    Reply
  6. MrPaydayloanonline says:
    June 18, 2011 at 5:50 pm

    Fast Cash Advance
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  7. ekocentric says:
    June 18, 2011 at 5:58 pm

    @acres90 They do ask that a customer be careful as to the amount that they borrow.

    I can see where it can become addictive but the people at Payday obviously knows that someone who comes back for multiple loans aren’t neccessarily the best people to give the loan to in the first place.

    I agree about the responsibility but if they had it they wouldn’t be addicted to borrowing.

    Reply
  8. acres90 says:
    June 18, 2011 at 6:04 pm

    @ekocentric its callled “personal resposability”

    Reply
  9. ekocentric says:
    June 18, 2011 at 6:56 pm

    @acres90 What about the customers (rubes) who seem addicted to going to these loan companies? It becomes a merry go round for them.

    Reply
  10. ekocentric says:
    June 18, 2011 at 7:51 pm

    @MNU1978 You are so right. We have become a society of papers not hand shakes.

    We are adults and should be responsible for ourselves.

    Reply
  11. ekocentric says:
    June 18, 2011 at 8:15 pm

    Has anyone noticed how many entertainers that we have trusted and paid to see will endorse companies like this knowing that someone was going to suffer from these high interest loans.

    ….Seems that they should understand more than anyone else how it feels to have people targeting them for their hard earned money?

    Reply
  12. ekocentric says:
    June 18, 2011 at 8:35 pm

    @fastloans77 You can find the bottom feeders online.

    Reply
  13. fastloans77 says:
    June 18, 2011 at 8:42 pm

    how to get a quick loan in usa online?

    Reply
  14. jolensahib45 says:
    June 18, 2011 at 9:40 pm

    toll_gëbt_mal_béÌ_gÔõglË:_geldeasy_éÌÑ_vøll_krâss

    Reply
  15. fermionsandbosons says:
    June 18, 2011 at 9:43 pm

    69,266 people filed bankruptcy in 2010 after they supposedly fixed the payday APR means the cost of your loan as a yearly rate, what it cost you to make the loan in all payday loans is 15% per $100, or 15%, THAT IS ALL LIED TO YOU, AND NOW 19,189 more people filed for bankruptcy

    Reply
  16. fermionsandbosons says:
    June 18, 2011 at 10:13 pm

    69,266 people filed bankruptcy in 2010 after they supposedly fixed the payday loans, 49,477 filed for bankruptcy in 2007 before the supposed fix, that means that 19,789 people filed, CBS and all other media LIED to you, payday loans DONOT charge a interest rate or any recurring fees, its simple $15 per $100 dollars borrowed, and a one time late fee if you were late THATS ALL, apr per loan would equal 15% that’s all,

    Reply
  17. MNU1978 says:
    June 18, 2011 at 10:13 pm

    @acres90 Oh really? Everyone wants to blame the “evil” industry for their financial problems. If people took the time to read the fine print that SPECIFICALLY states that these types of loans are “short term only” etc…then maybe they wouldn’t be in a mess. Sorry; but when you sign a contract; IT IS YOUR FUCKING RESPONSIBILITY to read the fucking thing and know whats inside it.

    Sorry, but be more responsible. Dumb inbred shits!

    Reply
  18. acres90 says:
    June 18, 2011 at 10:39 pm

    i think people who run these are crooked as hell but i in now way think it is the job of the goverment to “protect” us from them……how about RESPOSIBILITY?…..oh yeah outdated concept

    Reply
  19. acres90 says:
    June 18, 2011 at 11:08 pm

    @MNU1978 u my friend are living in an outdated cooncept

    Reply
  20. MNU1978 says:
    June 18, 2011 at 11:45 pm

    When you live paycheck to paycheck that means you need to STOP buying beer. STOP going out every weekend. STOP going to Mexico with your buddies. STOP eating out. STOP going to the movies. STOP wasting money and LEARN TO LIVE WITHIN YOUR MEANS.

    Reply
  21. ajuk1 says:
    June 19, 2011 at 12:09 am

    She could afford food though.

    Reply
  22. waverly2468 says:
    June 19, 2011 at 1:09 am

    Oprah is partly responsible for people being in debt. She told kids to go to college without warning them about student loans–they are just as bad as payday loans. And then she pushed that flam-flam book “The Secret” on her show. That book doesn’t exactly encourage people to be careful with their finances.

    Reply
  23. dekidd007 says:
    June 19, 2011 at 1:52 am

    It’s easy to say that you would go without electricity and water until the day comes. When people need money, they need money. Where do they go? Well, the mafia has always been around and offers a solution. So much money and double the interest of payday lenders, and if you don’t pay, they break your legs.

    Reply
  24. mortgagecalculator22 says:
    June 19, 2011 at 2:17 am

    Payday loans can be useful if Managed correctly

    Reply
  25. bikemtn says:
    June 19, 2011 at 3:09 am

    Eat Rice and Beans and wait until pay day, if you don’t have gas to go to work, Sell your TV, sell your PC, don’t pay your cell phone bills, sell your BluRay Player, sell your XBOX 360 wait…you probably got that at Rent a Center, okay, then sell Gold rings, stop smoking tabacco, sell your LCD TV, sell car speakers, sell everything that you bought because that’s the reason why you’re in debt. and also, use Condoms!!! do not have any more kids! I only have one, that’s all I can afford

    Reply
  26. fermionsandbosons says:
    June 19, 2011 at 3:11 am

    This mutha-fucker says to get a credit card, are you kidding me!!!! he prefers you pay huge amounts of interest in a never ending credit hole than to get a small loan with a one time fee, that ends ass soon as you pay it, this asshole works for a bank I guarantee it, DO NOT LISTEN TO THIS A-HOLE

    Reply
  27. kaos3124 says:
    June 19, 2011 at 4:03 am

    I’m taking out a payday loan to get my title back from title max where I borrowed money to make my credit card payment.

    Reply
  28. dsteitz1 says:
    June 19, 2011 at 4:22 am

    Not all payday loans are a scam. sometimes people need these services. I recommend calling 877-271-2850 for a payday loan.

    Reply
  29. royg6852 says:
    June 19, 2011 at 4:43 am

    I don’t know about everyone elses experiences but we got $300 from cashloancity com and had it paid back after one extension. My wife and I couldn’t have been more pleased with the service

    Reply
  30. Nevaeh218 says:
    June 19, 2011 at 4:54 am

    If you live in the state of Texas and have a payday loan request to be placed on the extended payment plan. All interest must stop and the balance will be split into 4 payments. This is for store front only, not loans over the internet so be careful.

    Reply
  31. Nevaeh218 says:
    June 19, 2011 at 5:34 am

    Amen, amen, amen

    Reply
  32. generatrix999 says:
    June 19, 2011 at 6:08 am

    Usury. In roman times you’d be put to death for it. Jesus’ only violent act in the bible was against usury.

    People are so brainwashed, they see usury as a moral way to make money, when in reality its the ultimate evil.

    Reply
  33. checkngoanswers says:
    June 19, 2011 at 6:37 am

    Payday loans critics claim the industry “costs” Americans $4.2 billion in fees. But in 2006, consumers spent $4.2 billion in ATM charges to withdraw their own money. They paid an estimated $22 billion in NSF fees to banks & credit unions, and banks collected an estimated $10.3 billion for overdraft protection. Businesses charged an estimated $57 billion in late bill payment fees. And credit card interest cost consumers more than $87 billion.

    Watch the attached video for APR comparisons.

    Reply
  34. kabloozie says:
    June 19, 2011 at 6:45 am

    Payday loans are cheaper than overdraft ‘protection’ and bounced check fees. Even the FDIC has stated that the only reason banks and credit unions don’t offer payday loans is because they make an obscene amount from fees and overdraft protection – interest rates on overdrafts charged by credit unions and banks can exceed 2,000 percent, which dwarfs what payday loan organizations charge.

    Reply
  35. neosoulanime says:
    June 19, 2011 at 7:12 am

    I myself am in Payday loan debt I would go to three or more payday oan places in one day then I would sometimes use the online loan places as well. My bank acount was always overdrawn because the loan compnies wanted the money that I didn’t have.

    Now regreat ALL of these Payday loans I took out are in collections. There is a happy ending I am now working to pay back every payday loan company I owe! I am also working with my former bank to pay them back as well! And I no longer have chacks!

    Reply
  36. billswood says:
    June 19, 2011 at 7:22 am

    .Borrow $100 pay back $117.CashAdvance,
    Compared to writing 1 bad check for $100. That bad check will cost you $30 at the bank and sometimes $25 at the place you wrote it.
    Now tell me the bank is on your side and they aren’t screwing you! Who is the bad guy here!
    Open your eyes, any financial institute will cost you a lot of money if you abuse it.
    It is the ones who abuse it that dig themselves into a hole.

    Reply
  37. networkingdefence1 says:
    June 19, 2011 at 8:21 am

    payday loans suck. i agree! never go to check and go!

    Reply
  38. judgegixxer says:
    June 19, 2011 at 9:20 am

    Not many views of this! Kind of surprising given the amount of high debt loads everywhere.

    Reply

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