The PayDay Loan Web – Don’t Be a Needy Fly That Gets Caught in This Web

my personal payday loan story that can help you

the term payday loan starts with the letter “p” which is the same letter that starts off the words pain, penalty, poor and poverty. Both the internet and the physical world are full of places where you can get a loan with bad credit, no credit check, and no employment verification but what these modern day loan sharks don’t tell you is that their interest rates are so high that one day you may end up with the payday loan mafia coming after you!

Sure, these loans look very attractive to those in financial need that are unable to get a loan by conventional means but when the facts are presented what you have to pay back just isn’t worth it. This fictional character that we all refer to as “guido” which is the person that comes to break your arms and legs when you don’t pay a loan shark back is in existence in a different way when it comes to payday loans. Instead of your arms and legs the payday loan guido comes after your heart, soul and peace of mind.

Payday loan places make their offerings look so attractive but it is all an illusion because who can really see when they are desperate? What you don’t want to happen is for what appears to be a temporary solution to become a long term problem and many times that is exactly what happens.

I’ve been caught in the payday loan otherwise known as payday advance web many times. Sometimes life’s circumstances leave us very few choices and we decide to do what we feel like we have to do to buy gas and put food on the table. Like I said, i’ve been there before and as a survivor of payday loan debt I have knowledge that can help you.

I want you to ask yourself a question which is, “if you don’t have enough money to get by what makes you think you can payoff a loan with 300%- 700% interest?” You might as well sell your first born child. Payday loans may seem good in the short run and you may get instant gratification and even a rush when you hold that cash in your hands or see it in your bank account but in the long run it is a race that many can’t win.

My story, like many, was that I obtained payday loans to cover immediate expenses I needed cash for but didn’t have money to pay the loans back so I got extension after extension paying out ungodly amounts of money. Before long I was getting new payday loans just to pay the other payday loans I had received. I was trapped in a vicious cycle with no way out and a ton of stress upon me. I became a needy fly caught in the payday loan web, especially since most of my loans were online loans; I was literally in a virtual web. The payday loan spider sucked the life blood out of my bank accounts and I didn’t know what to do.

Please understand that you can’t solve a problem with a problem and you can’t come out debt by creating more debt. The solution to your debt starts with gaining additional income sources and paying off existing debt little by little so you can be free. In my own personal payday loan crisis I got up to almost $7, 000 worth of payday loans and when renewal payment time came my entire paycheck was gone. This is a miserable experience that I pray you can avoid. You might already be at this state but even if you are I have some suggestions for you that will offer hope.

The first thing you have to do is to make a conscious decision to get out of this situation. Decide to change and become a butterfly rather than a fly caught up in the payday loan web. When a caterpillar is going through the metamorphosis in the cocoon in order to become a butterfly there is a struggle. The struggle is in fact what makes the butterfly great because the struggle to get out of the cocoon transformed actually pushes fluid from the butterfly’s body into its wings so that it can emerge in beautiful flight. This process may be a little painful but it will help you fly and be what you were made to be.

One thing that I did was to become an affiliate for payday loan companies so that I could get paid from other people acquiring payday loans. Some people are just going to get them so there is no reason why you shouldn’t get paid from the process that made you pay so much. The second thing I did is what really helped me which was to get a payday loan consolidation company to take on my debt at a reduced amount and pay the payday loans back for me on my behalf. It was one of the best choices I ever made and it was a way out of the payday loan web.

You can do a Google search to find companies that will represent you in this way but do your research and make sure that the company you choose is credible. I used pdl assistance, inc. They require an upfront fee to take your case but they will work with you on paying it and it is around $200. Next you set up a plan to pay them a monthly amount on your payday loan debt and they pay your debtors directly. They will give you different term options to pay the debt off and they will deal with the payday loan companies for you. Doing this took a huge weight off of me. I got a 12 month term to repay my payday loan debt at 35% of what I owed the payday loan companies. The $400 a month I was paying on this plan was much better than the $700 plus every two weeks I was paying for all the loans I had.

One important thing to know when you start a payday loan consolidation program is that the payday loan companies are going to call you to collect. When they call just give them the information for the company that is representing you and let them know that the debt is going to be repaid to them as part of a loan/debt consolidation program you have initiated. I obtained the fax numbers to my payday loan companies and sent them notification on who to contact regarding the repayment of my loans. If you do this make sure to include your account number and social security number so they can properly locate your account.

Some companies will continue to try and collect from you in spite of this so I have another suggestion if this happens. If you get numerous collection calls after you have informed them about your debt consolidation you need to fax and/or send them a cease and desist letter. You can get a template off the internet and submitting this letter will stop the collection calls while your debt consolidation program is in the works.

Another tip is to close the bank account you have the loan fees being deducted from if possible. You will want to start a new account before you close your existing account and under no circumstances get payday loans under the new account. You have to treat the payday loan habit like an addiction. If you are going to stop it then stop it because replicating the mistake will only make things worse for you.

If you need money then get bad credit credit cards and pay them on time to build your credit. Pay more than the minimum payment and use them to pay bills so you can pay what you need to pay while building your credit. No debt consolidation company can legally advise you to close your account but sometimes it is the only way to keep the payments from being processed and causing you hundreds or even thousands of dollars in overdraft fees. For me this was the easiest way because I had so many loans and it would have cost me a $25 fee for every stop payment processed plus the bank could have missed some.

I also want you to know that the cease and desist letter can be used for any type of debt collection and not just payday loans. It is important to know your rights and you can find them out online at the federal trade commission’s website where you can learn about the fair debt collection act. You will learn what creditors can and cannot do regarding the collection of your debts and how to stop inconvenient and harassing behavior.

I do not encourage anyone to get a payday loan because it can get out of control so easily. If you must get a payday loan be sure to get one with low fees well below the normal $30 per $100 borrowed

Payday Loans: No Credit Check No Fuss Loans

Payday loans are the fastest and most convenient option for getting a cash advance for emergencies before your next payday. However getting payday loans and their repayments involve certain important aspects. Herein we are attempting to answer all your general queries related to Payday loans and we hope it will serve as a tool to open up any mystery surrounding payday loans or cash advance.

What Is A Payday Loan Or Cash Advance Loan?

We daily come across many loan types like housing loan, personal loan, and education loan. However, the payday loans are a new buzz in the market, and it is very popular. This loan is known by many names like “Cash Advance”, “Paycheck loan”, “Check loans”, and “Payday advance loans”. Let us understand what is a payday loan or cash advance loan and how and when it should be used for your maximum advantage. Payday loans are unsecured loans, which can be used for meeting your emergency financial needs and is paid back out of your next paycheck on your payday. Thus, payday loans are the shortest tenure loans among the other loans available in the market.

Are there any limitations on payday loan or cash advance loan usage?

Many a times we face a situation when we need money badly but feel like our hands are tied as our payday is still several days away. In such a scenario, we either have to shelve or defer our plan of purchasing something or go for a heavy interest credit card loan to meet the obligation. The requirement could be to pay up unexpected medical bills, your kid’s school fee, to avoid bouncing of your issued checks or any other financial obligation. In such trying times, payday loans or a cash advance comes in handy. Thus, you can use this cash advance for whatever purpose. There is no restriction on the usage of payday loans.

Am I eligible to receive a payday loan or cash advance loan?

The best thing about payday loans is that they can be had even if your credit rating is not very good. The second best thing about payday loans is that taking a cash advance does not affect your credit rating. All you need to be eligible to receive the payday loans is to have a running checking account and a regular job.

How should I apply for a payday loan?

To apply for the payday loans, we would say it is easier to do than to say. You can apply for payday loans online using Internet. You may be required to supply some basic information such as your Name, Address, and your employer details. Some companies offering payday loans may ask for your Bank Statement or pay stub over fax. The documents required by these companies for payday loans are minimum in comparison to other types of loans.

What is the fee charged for payday loans?

Before applying for payday loans, we suggest that you scan 5-6 companies for the fees they are charging. Some companies offer payday loans without any fee for the first week.

How much cash can I get with a payday loan?

The amount of payday loans ranges from $100 to $1000 depending upon the repaying capacity of the borrower.

What is the length of payday loans?

Normally a cash advance is supposed to be paid back on or before your coming payday. Therefore, the maximum length of payday loan could be up to 30 days. However, some companies are flexible with respect to the loan duration as well. Payday loans can be extended until the next payday. This extension of payday loans however comes at a price.

How long does it take to get a payday loan?

Payday loans are much easier to get and in less time than other loans. After applying for a payday loan online, you will get a telephone call from the payday lender. After completing the small formalities, the cash advance will be credited to your checking account the next business day.

Does this mean I can enjoy my pay without waiting for my payday?

Before you jump for a payday loan, please note that the rate of interest charged for these loans are higher than other loans. Extending the duration of payment will only increase the fees charged. The payday loans or cash advance loan should be used very prudently and only for meeting financial exigencies that cannot be avoided. Please remember that getting a payday loan or cash advance loan too frequently could upset your monthly budget and you may find it difficult to get out.

Simple Steps for Speedy Approval on Arizona Bad Credit Auto Loans

Ever heard “bad credit history” and “easy” go together in a single sentence? Bad credit score or poor credit history has always been a spoiler in the auto loan process. But, Arizonans can have a breather because bad credit auto loans are really EASY in the Grand Canyon State. You can definitely get the perfect bad credit auto loan program for your car in Arizona. Just use this article and guide yourself to the easiest car loan approval ever.

Several Opportunities Today

There are much more opportunities for an Arizonan with bad credit than there were before. Over the past few years, there has been a considerable rise in the number of bad credit borrowers and poor credit car buyers. So, many lenders have started offering subprime car financing in the Copper State.

With the advancement in the field of internet, online buying has become the order of the day. You can get anything and everything on the web. And, car financing programs are no different.

Research Before you Search

Now, that you are aware of many alternatives to secure bad credit auto financing in AZ, you must start working on research. Don’t think that research is boring and time-consuming. It is very important part of the AZ bad credit car loans process because it lets you reduce your interest rates. Also, it gives you the opportunity to get flexible car loan terms.

1. Calculate your budget.
2. Get an idea of your credit score and credit report. Pay-off older loans if possible.
3. Know what kind of car is perfect for you.

Ready with Documents for Ready Approval

For you, a bad credit auto loan is a means of buying your dream car. But, for the lender, it’s just business. And, he needs to be very sure of the safety of his money. That’s why; many Arizonan lenders require you to be ready with few documents that will ensure your financial capability.

1. SSN
2. Credit Report
3. Income Proof – Pay stubs/Income Tax Returns
4. Employment Proof – Employment Verification Letter
5. Receipt of Utility Bills

It is necessary to be ready with all the paperwork. By doing so, the lenders will realize your determination in securing the car loan. It will aid in getting quick approval.

Take Time to Take Decision

Study the pros and cons of every Arizona auto loan quote. Complete scrutiny is an excellent idea for getting an auto loan with bad credit. You must realize that the auto loan program has the potential of removing bad credit from your credit report. And, so you must be diligent in choosing something so important.

Do not fall prey to lenders who offer special discounts with lots of hidden charges. Read the terms and conditions properly before signing the loan papers.

Strong Will to get Speedy Approval

We all know that a bad credit score prevents us from buying that perfect car. But, you can’t just contemplate it. You must take action to get approved for bad credit auto loan in Arizona. You must be passionate about fulfilling your car dream. A poor credit score shouldn’t bother you. Bad credit history is because of your past financial transactions and it certainly shouldn’t have a say in your future. So, get up and get ready to fight bad credit history with all your might. With the tips mentioned in this article, you will definitely crack the code of the perfect Arizonan bad credit auto loan.

All the Best!