Payday Loans

How many payday loans can I have out. Does it matter state by state? Refrences?

Question by jxceran3: How many payday loans can I have out. Does it matter state by state? Refrences?
I went into a payday loan store and I already have 2 loans out. I told him I had none. He said that he is on some state system and that I am only allowed to have 2 loans out? how come so may other people on yahoo answers are talking about having 5 and 10 loans out at a time. How do I do that. I need money for a business loan.
nevermind. it’s just in the U.S.

Best answer:

Answer by bdancer222
If you already have two payday loans, you have two too many. Are you aware that the APR for these loans tends to be in the 600% range?

You need to find some other way to finance your business. There is no way you can pay that kind of interest and still show a profit.

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I am looking for a lender who loans funds to those with bad credit and not a payday loan. I want monthly notes?

Question by : I am looking for a lender who loans funds to those with bad credit and not a payday loan. I want monthly notes?
My credit is bad and have only been on my job for 3 months. I am trying to borrow $ 2000.00 to be re-payed in monthly installments. I am not interested in payday loans. If I can get a loan in this amount, it will financially put me back on track. I will be able to afford notes between $ 150.00 and $ 200.00 per month.

Best answer:

Answer by Huntsman
You are about to get about 50 responses (answers) of online loans.
Careful. The online loan scam is very, very simple to operate.
If you fall for it, it will make you cry for days.
Stop by your local small banks and credit unions.
If they turn you down, everyone else will.

Note: For any personal loan you will need employment for at least 1 full year

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What is the consequences when Payday loans lender?

Question by Jazzy: What is the consequences when Payday loans lender?
DO NOT FOLLOW THE STATE LAW. I am trying to make complaints on a payday loan lender through attorney office(CheckNGO).Who is not following state laws. What is the consequences can they be fine?

Best answer:

Answer by WRG
They can be fined, or even loose their license.

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What is the best way to dig myself out from under high interest payday loans?

Question by : What is the best way to dig myself out from under high interest payday loans?
I got a high interest payday loan a while back. The weekly payments on that loan reduced my weekly available funds, causing me to need another loan in order to pay my bills. This hole has since gotten much deeper. How do I get out from under this debt? I would like to avoid bankruptcy if possible.

Best answer:

Answer by dusty_titus
You’ll have to earn more (get a part time job) or live on less.

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Will filing bankrupcy elimate payday loans?

Question by Glossy: Will filing bankrupcy elimate payday loans?
I know it elimates most debt (besides student loans) and it stops garnishments. But does anyone know if it can stop payday loans? I got myself into a bit of a bind with those damned things.

Best answer:

Answer by Jeff H
You would be far better off getting the dreaded second and third job – work on your days off, etc.

Bankrupcy has costs too. Most likely more than working them off if you attack the problem agressively. Besides who wants to trash their credit for 10 years?

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How can I consolidate my PAYDAY LOANS?

Question by I_c_all: How can I consolidate my PAYDAY LOANS?
I have horrible credit and had a few emergencies lately (real ones)! I have a repo, my car broke down, 10 payday loans all coming due the same dates……i need help. Where can I consolidate junk loans like these and pay them off all at once. I need alender or something that can give me a loan to pay thema n and get a small car! any help?

Best answer:

Answer by Garden by M
file bankruptcy, no one will loan you money

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Q&A: If I let my payday loans go bad will they stop charging interest?

Question by Cameron C: If I let my payday loans go bad will they stop charging interest?
I have several payday loans if I have the bank return the items and I pay them off one by one in the month of june does anyone out their know if they stop charging the rollover fee

Best answer:

Answer by BLCOHEN529
Payday loans stop charging interest until you pay back in full or “die”. If you rely on this latter choice, they are likely to file a claim against your estate impairing any gifts or bequests you had hoped to make.

Good luck!

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Q&A: How do you get out of the cycle of payday loans?

Question by Anne B: How do you get out of the cycle of payday loans?
I got behind on some bills, and was helping my daughter out financially, now I am stuck in the payday loan cycle…I have terrible credit so it was one of my only options, I keep having to get another “loan” to pay on the “loans” I have! HELP!!!!!!

Best answer:

Answer by acermill
Your first error was ‘helping your daughter financially’. You were obviously in no position to do so, and should have said ‘NO’ when she asked. Meanwhile, the only way out of the cycle is to come up with enough cash to pay it off in full. Not a pretty situation.

Learn to handle your own finances before you think you need to help a daughter.

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Q&A: Where do I need to go to find help with consolidating payday loans?

Question by Karrie M: Where do I need to go to find help with consolidating payday loans?
I have taken out too many payday loans and now I am having problems paying them all back and paying my bills at the same time. I am now late on most of my bill because of the payday loans…..please help!!!

Best answer:

Answer by Sean
Nothing you can do to consolidate them. Pay day loans are designed so if you don’t pay it off in full then they accumulate interest at a very high rate. They basically design them so that you take your first one out, then you have to pay it back, but you need more money so you take another one out and so on. It’s a vicious cycle… I’d say take out a small personal loan from a bank to pay them off that way you can consolidate them into the one loan…but banks are not really lending out money right now… Sorry…

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What if I lose my job and have payday loans?

Question by brenda e: What if I lose my job and have payday loans?
I have payday loans and have lost my job and my bank account has been closed. What can they do to me?

Best answer:

Answer by tro
they will turn it over to a collection agency and it will probably cost you more

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