The Uk Payday Loan Ring
Payday loans starts with the letter p which is the same letter that starts off the words pain
, penalty, poor and poverty. Both the web 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 loans mafia coming after you!Sure, these loans look very good 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 loanss. Instead of your arms and legs the payday loans guido comes after your heart, soul and peace of mind|Payday loans places make their offerings look so good 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 loans 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 loans 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 loanss may seem good in the short run and you may get fast 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 loanss 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 loanss just to pay the other payday loanss 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 loans web, especially since most of my loans were online loans; I was literally in a virtual web. The payday loans spider sucked the life blood out of my bank accounts and I didn't know what to do|One important thing to know when you start a payday loans consolidation program is that the payday loans 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 remoney to them as part of a loan/debt consolidation program you have initiated. I obtained the fax numbers to my payday loans 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 web 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 loanss under the new account. You have to treat the payday loans 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
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