Payday loan - what to do?

Yes Stan,
I do think that some of the payday lending companies indulge in unfair activities.
It is unfortunate, but the Payday Loan industry is very high risk. Many people borrow, or get a pay day advance and have absolutely no intention of ever paying back the moneis that they stole. I can certainly understand why these companies may attempt to withdraw funds before the agewwd to dates - however ethically wrong that may be -
All of these people that borrow money from these establishment are given an agreement to read, clearly on these agreements are the terms. If they were to pay back these companies when they were suppose to no US states would have had to ban these companies. It's not the lending companies it's the people that steel their money and then complain about having to pay it back.
Sorry to carry on. I've check the site you've mentioned...keep in mind that debtors, are debtors, are debtors. Some of these people make a living out of ripping other people off and then they have the nerve to post on sites like this about legitamate companies and/or law firms that represent the very companies that they full well know they stole from.

Quote:

This is a high risk industry. People borrow money because they don't have any. If you had money why on earth would you need to borrow some? Don't fool yourself into thinking that these people only use these services once. They go from lender to lender to see just how much money that can get before they finally get caught.
I've no doubt that there are certain individuals that utilize these services and they pay the lender back on time, and we never hear from these people - it's only the ones that don't pay the money back that have the gaul to post on these forums.

Ed

Hmm???I agree with you, but partially.

Quote:

Ed,

I guess that I am one of the people who has the gaul to post on the forum? I myself got up in the payday loan trap and it has been a very tough cycle to get out of. I accept responsibilty for that but I did not set out to steal money. This was not my intention at all. I do not believe this to be a black and white issue as you seem to think it is. My lenders are listed with a debt consolidation company, which was the best way for me to pay back these debts. This does not give the lender any legal right to threaten or harass me, or this to be done by a collection agency on their behalf. This has happened to me and it's very frustrating when I am trying to do the right thing. Before you judge, maybe you need to walk in someone else's shoes. I think a lot of states have banned these lenders because of their illegal practices and techniques. Many are not even licensed to loan money in any state. Many threaten people at their places of employment or even their family members. This is a violation of state and federal laws. As Stan said, we are here to help each other. Thanks to this forum I have found a way out.

I am sure there are some that loan with no intention of paying back but that would be very hard to do. For one you would have to take out these loans and close your account right after. This obviously is a one time thing.

In most cases if you search around the web for it are people that get caught up in a trap and end up paying way more than their original loan until they cannot take it anymore. You loan for say $500 from most companies and you have to pay back the $500 plus interest which is most likely $30/$100. So you have to pay $650 on your next pay. Most cannot do that so they elect to either pay the $150 fee or payback the $650 and then re-loan for another $500-$600 to pay their bills.
Some companies offer partial loan payment plus fees. So for the $500 you pay the $150 interest plus say $50 on the principle. This goes on until the loan is paid. Do the math - you can endup paying 5-6X the amount of the original loan.

The average loan length or length that the average lender has with a payday loan co is 6 months. You can look that up. Imagine all the fees and interest that are collected during that time? So for your example of a one-time lender that changes accounts and never pays there is a lender out there getting soaked for a year with the same company either on fees or re-loaning to stay afloat.

So even though some have to default to get out its only after paying a ton in interest and fees.

Would this happen to be a law office in Markham?? I recently ran into some trouble repaying a payday loan and a representative from this law office called me and was extremely rude and threatened that they would sue if I also didn't pay them back within the day. Have you any more information on this "boggus company" and any words of advice on how to handle them? Are they legit? Thanks so much!

Help,

Many have posted negative feedback about them, seems that they are involved in unlawful business. Being rude to consumers, harassment ??? all these are considered as breach of fdcpa.

If you have unpaid debts, contact your lender and pay the due to them directly. And don't pay to anybody without any paperwork. Always ask for debt validation when it comes to deal with debt collectors.

Also go through this thread to know more about them-

http://forums.debtcc.com/forums/paul-kupferstein.html

Sorry, One more question - does the website provided pertain to Ontario?

Thanks.

Which website are you talking about? Are you looking for the address of Debtconsolidationcare.com? You can visit the contact us page for that-

http://www.debtconsolidationcare.com/contactus/

I am looking for information regarding the fdcpa information in Ontario? You had listed a link in another email but it pertains mostly to the laws in the US. Thank you.

You can contact AG's office of your state for any legal information. Visit this site, it might help you-

http://www.attorneygeneral.jus.gov.on.ca/

Thank you Stanley.

I'm killing myself laughing here!! You people are complaining that you weren't sent flowers before you were contacted to pay back money that you've admitted you owe!
When you default on your car or mortgage payments eventually someone nice comes along and takes it back. You can't go into a store, pick something up and tell the owner I'll pay you later-trust me? When you take out a loan and sign an agreement to pay it back on an agreed to date, surprise, you're suppose to pay.
Common people. Let's talk unlawful!!!!

Guest - you must work for a payday loan co. Shakespear fan? Pound of flesh due if payment is not made in full.

When I am late on a car or whatever payment I can call them and they are very willing to work something out. They also do not charge 1000% interest so its usually a pretty workable arrangement.

Unforseen things happen. When they do happen we should not be harassed at work, threatened to have our employers contacted or deal with unruly, unreasonable and rude collectors. Its not only not right but illegal.

Well said Glynnie11. I agree with you. People need to realize that this "Mr. David" or any of his other hidden identity associates haven't a leg to stand on considering they will not provide any information they speak of - people don't be intimiated by their verbally harrassing scare tactics. If they were a legit company, they would have no problem dealing with you in a professional, reasonable and legal manner WHICH they are not according to many people. There only seems to be one person defending Mr. David's actions and that is the "so called" Mr. David.

You all seem like well educated, intelligent people.

If you don't remember the debt, just contact the company that forwarded your debt file to whatever recovery company. I'm sure they'll be very happy to remind you that you didn't pay them, and because of that your file had to go to collections. While you're on the phone with them ask them to send you your last invoice. Agencies aren't provided with copies of all your transactions they get a file. Name, number, how much you owe.
Can you imagine being a collector? Having people yelling at you all day, freaking and swearing at you because you have the nerve to ask them to take care of a debt? I empathize with all of you, but you are all only providing one side of the story. Lots of people are posting here because some where back whenever, someone decided to lodge a complaint. Who knows if it was legitimate or not, and who cares. Other people do a search and think, ya that sort of sounds like what happened to me - so they post. I've read this forum a few times over now and it's sort of like playing that game where one person whispers in another persons ear and they pass the information along. When you get to the end person, the message is so far off from what the original person said - but we all have a good laugh, and try again.
Have a great night everyone!
lol

Hey Glynnie11,

You sure are a wealth of information! You should call yourself Dr. Glynnie11.

You have advice for all sorts of people (from what I've read)

Mrs David. Get a real job. Working collections for a payday loan co does not make you a professional collector. A professional collector will work with people and not threaten to try and get them fired from their jobs or say the cops will be at their door.

How can you sleep at night working for a place that charges so much interest and harrasses people? Attempting to collect debt by illegal means? Taking advantage of deperate people that take out your loans and have to re-loan to afford the interest.

One of these days the cops will be at your door and you will be held responsible for your actions. It has happened before and will happen more. Strong lobbying from the big boys ( banks, mortage co's,.. ) are in place to shut you down because people are paying you guys instead of them. Payday loans are increasing the bankruptcy rate thus causing other valid creditors to lose money while you pilfer their clients accounts.

Everyone is getting sick of you guys.

Good for you Docem1 and Dahlia281! Don't be fooled! Extoration and illegal operation together with harrassment and unprofessional conduct spell - SCAM!

You silly people, I am niether a colletor nor do I work for a payday loan company. I'm really sorry for those of you that are having a hard time, or have had a hard time. Maybe someday I will have a hard time, but rest assured I will not blame any one other than myself for any situations that arrise as a result of my actions.
Sometimes it's okay to just be angry at ones self.
TTFN

Mrs. David, you must be related to Mr. David somehow because everything you are typing sounds pretty much like his pathetic messages.
What don't you get, if you've read the messages over a few times like you have indicated, you would realize that people have requested documentation from this fake company and in return only been verbally harrassed, threatened, "we'll see you in court" comments, "we'll serve you a work" comments, they won't send documentation rather hang up on you when questioned and they don't have a legit mailing address - have you got in now Mrs. David - re-read this a few times maybe.
"Silly people" - take a good look in the mirrow before you judge others.
AND I have read this post along with others and as I continue on to reading the forum - the message has never changed - it clearly indicates that Mr. David and his firm are a scam - keep reading over and over and - stories are similar - they certainly don't fade or change from beginning to end - they have been pretty consistent all the way through - enough excuses!
Get a life and get over it - you've been exposed.

Okay folks.. lets watch the name calling..

That said my response to Mrs. David, what does it matter, educated and the guest at the bottom of the previous page, The people who post here seeking advice are trying to resolve their debt issues in a reasonable manner that often times allows them to survive. They have no problem dealing with legitimate collectors who follow the law. That is the salient point of this forum and this thread in particular, in which substantial documentation exists that an individual/firm is violating the law on a regular basis in a manner that belies a complete lack of respct for not only the law, but moral and ethical business practices as well.

No one here is blaming collectors for their debt and they shouldn't. However if a collector and/or a creditor violate the law they can and should be blamed for the damage (emotional and financial) that they caused. Whenever I read the posts of people representing collection agencies discussed in these threads, they never offer up any proof that they are conducting themselves appropriately. Usually they resoort to name calling and such in what I view as an attempt to intimidate and ridicule people instead of facing the truth that they are beign exposed and will sooner or later be held accountable.

For those who post here from the debtor point of view, let us remember that we are above the name calling and such... we work together to stop the illegal, unethical and morally reprehensible practices many are being subjected to..

Well said JJ

My real name, by the way.
Very few here are trying to resolve their debt issues, most are proud of the fact that they scammed their way out of paying their debt. I don't know who this Mr. David is, but I'm sure he's just getting paid to do a job, just like the rest of you.
I have an amazing life, thank you very much. I just really do feel badly for all of the very angry people. I don't know about all of this 900 business, but the payday loan stuff that's real, and some of you have admitted to not paying back your loans. You have no right to complain about being contacted by anyone to repay your debt.
I don't want to play with you guys anymore, from what I've read you are the mean and nasty ones!

I agree JJ.

If you think "Get a Job" or "Get A Life" is name calling then try perusing a sports forum.

I agree that my tone was somewhat hostile I just recall my experiences trying to deal with these payday loan places. "You took out a loan so pay it back" were the exact words I was told. No payment plans. No understanding if your situation changed from the time you took out the loan.

If you read the posts people here wanted to payback their loans but just could not gather the money in 3 days. Things happen.

The majority of the people here are looking for ways to pay back their payday loans. I don't really see someone saying I'm never going to pay it back. I think people are scared and have found solace and comfort in this forum.

In March 2004, this Paul Kupferstein law firm was pulling the same crap.

When I called, I spoke to an I. Clemente and was threatened and hung up on several times by this very rude and ignorant woman.

DO NOT SEND THESE PEOPLE A DIME. And I can not believe they are still at it....

Oh they are still at but thanks to the many people who have posted on the site - we all are now well educated on their tactics!

If you truly have no outstanding debt, then move on. If you are trying to get out of paying an outstanding debt and are relying on the 'not necessarily legitimate' stories on this forum to influence you - be careful.

Move on . . if I didn't have a debt, why the heck are they calling and harrassing me anyway - can you explain that? All they are trying to do is take a crack at intimidating anyone they can to see who could be their next victim and send them money!

Slumming around in this topic also Mr. David or whoever of Paul Kuperstein's illegal company?!

You don't have outstanding debt owing to anyone? Do you think they opened up a phone book and thought your name sounded interesting? What sort of debt were they implying you owe?
What do mean by 'Harrassing'?

Get over it Looking out for you! Obviously you have never had to deal with Mr. David and company or you would know how they operate! Read the Paul Kuperstein forum - you'll get the drift.

Whether I've dealt with this Mr. David or not is irrelevant. Do you owe money or not? I'm very curious to know what all of you consider harassment. I know some collectors may be rude, but harassment is a whole other issue.
Please explain.
I have read the forum, and although I think some of the post may have some valid issues, I tend not to believe everything I hear and/or read. Often when people are angry, they tend exagerrate a bit.

Relax everyone, I'm not trying to be mean - just a fact of life.

Speaking from my own personal experience - harrassment to me with calling me on a amount I didn't owe, threatening to take me to court, verbally yelling at me on the phone that I owe this insane amount to them, them telling me that they will serve me at work, phone my employment and anyone else they can. AND it is relevant because if you are going to make comments on this particular topic and never had the pleasure of dealing with them then I feel you really don't have a say in coming to their defense which brings my next comment to light - who are you, do you owe money and if not, what are you doing here? Look up the definition of harrassment in the dictionary - there are many different meanings and I must say Mr. David and his company have pretty much hit everyone except physically harassment when they call people. The only posts that are not valid here are the ones made my Mr. David and his collegues. Read the forum carefully and you will notice that they are they only ones defending themselves and possibly you. It is not rocket science! They are not only RUDE they do HARASS! Upon learning about them and reading and investigating my rights - I have determined to the point what harassment is and they are doing it! I am determined along with others to shut these goons down!

I Have recieved a phone call today from this guy saying that i had to put $1152.00 in the mail tomarrow to an address in ontario, because I failed to pay a cash store payday loan several months before. I have never recieved any prior information to this stating that I had an outstading balance.He told me that my wages would be garnished and I would be taken to court. I was Imidatllly alarmed to hear this and was about to put the money in the mail when i found this site. I now have realized that he has given me no proof that i owe his money to him. I am now going to invetigate this more before I decide to send the money, if I owe the bill I will pay it but im not sure if I feel confortable dealing with this guy. So is this guy for real or what.
-Concerned
-N.B. Canada

Another five months have gone by and still no paperwork sent to me from these guys. they don't even bother to call me anymore. my attorney says "smells like a scam" to him.

it's been five months since i requested verification and i have still seen absolutely no proof in writing from these people. they don't even bother to call me anymore. my attorney says "smells like a scam" to him.

Thing_01,
The exact same thing happened to me - DO NOT FALL PREY TO THESE CON ARTISTS - DO NOT SEND MONEY!!!! They will not send you any information to back up their threats. All they do is call and harrass people and threaten them with scare tactics. When I asked them to send me documentation to validate the debt, they continued to harrass me and then hung up on me and I haven't heard from them since - it's been over a month. Good for you that you didn't fall prey to these people!

Thing_01,
DO NOT SEND THEM MONEY!!!! I had a similar situation with these goons calling and threatening me with many different scare tactics and basically when I told them to send me documentation to validate the debt they were calling about, they continued to verbally harrass me and then hang up on me - that was over a month ago and I haven't heard from them since and I don't expect to. The are a illegimate company trying to scam people and hope that there scare tactics will get them easy money - they are not a law firm. I suggest you look on the Paul Kuperstein forum - you'll get a better understanding of how this bogus company operates.

Don't fall prey to these con artists Thing01 - they will use every scare tactic to scare you - don't send them anything with out documentation which they will never send. I have been waiting months for them to reply.

Is this just your way of getting out of paying your outstanding debt? Do you recognize the company that they are calling about? Mr. Paul Kupferstein is indeed a lawyer practicing law in Ontario.
Do you all honestly think that your number was pulled out of a phone book and they guessed that you once took out a payday loan?
Seriously who is the true con artist?
You people are awful.
Thing_01, you never used the service of any payday loan company? Stop before you bash me. Are you sure you never used this service. And if you did and you paid everything back, why on earth would these people phone you?
Perhaps there's something I'm missing?

Blah, blah, blah.......do you not realize your reputation precedes you!!!
.....guess you morons should have stayed away from the 900# scam....got your fingers burnt-BIG TIME!
Let us know in advance when you change your name again!

If Paul Kupferstein or someone from his office is in this forum I have a question.

How can you rest knowing that at anytime you can be arrested on fraud charges? There must be some investigators working to indite you.

And yet you still continue to scam people. Even if they did owe money its illegal to make false claims of arresting people for money owed. Claiming its check fraud when its not.

Why aren't you totally stressed at the real prospect of going to jail? Thats where this will end. Not a matter of if but of when you will be arrested and sentenced to 5-10 for this stuff.

My dearest Glynnie11, writing a bogus check is illegal, regardless of where you reside.

It is not considered illegal on a post dated check. The pdl company that accepts the post dated check knows when they accept the check that is not good until next payday.

If you write a check knowing that you do not have the funds in your account, or don't intend on having funds in your account on the post date, you've committed a crime.

Accoding to this law a post dated check is not a crime.

Section 3-104(2)(b) of the UCC, defines a check as "a draft drawn on a bank and payable on demand." A postdated check, since it is not payable on demand, does not satisfy this demand. Consequently, it has generally been held by most states that the giving of a post-dated check does not constitute a present fraud nor is it within the scope of the bad check laws.

You are correct. I apologize. Unethical 'yes', illegal 'no'.