Comments on: Payday loan company charging too much?

By: terribrooke

terribrooke — Sat, 27 Dec 2008 14:17:06 +0000

Starting I believe Jan. 1, 2008 all payday loan companies MUST have signs up that state in clear terms exactly what all their fees are. So if you went in after Jan. 1, did not read the signs or even the contract that you signed for this loan, and still got a payday loan, then you agreed to pay whatever they charged you.
While they are technically taking advantage of people, they are also a business and the business has to make money to stay open. If you don’t like how it works, don’t use a payday loan company anymore.

By: TedEx

TedEx — Sat, 27 Dec 2008 02:31:33 +0000

This is an example of a contract between two people, one in a very strong bargaining position, and another in a very weak bargaining position.
In other words, take it or leave it.

By: JIllo

JIllo — Thu, 25 Dec 2008 16:49:22 +0000

Don’t you know that those kind of places are legal loan sharks.

By: billieleann78

billieleann78 — Tue, 23 Dec 2008 12:42:40 +0000

There have been many law suites against them.
They outlawed them here in Ga. I heard of talks of trying to get it back.
But that is the whole reason the government is mad is people paying the highest interest rate their is.
Try the web site I love it is called Prosper. It is where people loan people money.And the sooner that you pay off the less interest you pay.It has been on CBS news.

By: tuque7

tuque7 — Mon, 22 Dec 2008 05:57:57 +0000

Welcome to the world of “loans”. ALL COMPANIES ARE LIKE THIS!!! Its unfair, and crappy, but thats how it is. Their thourhgts are “if you dont like it, then dont use us”. sadly, i know that there arent many other choices for people who are broke and need to borrow! I call it “legalized robbery”. But you gotta do what you gotta do! i used cash call (worst mistake ever) Their intrest rate was above %99 . thats right ABOVE %99!!!!!!!

But you just dont have a choice. I know it sucks, (belive me, if i added all the charges that the bank has charged me and places like that, it would probobly be like 10 grand!)

Sorry! But know you’ve learned!

By: shiprepairwoman

shiprepairwoman — Sat, 20 Dec 2008 05:13:47 +0000

What makes you think that was too much? They should have disclosed the fee ahead of time so you knew what you agreed to. If you were desperate for 100 and that was the best loan for you $47 in loan fees doesn’t seem excessive.