Who Here Has Had a Payday Loan?
 

Could you maybe tell me a bit about the process. I'm interested in getting into this business locally and I'd like some details on the process of application, what kind of info they require and in what way they enforce the payback.

If you wanna keep it private e-mail me... see sig.

you have to write them a post dated check in order to get money, that's how they assure themselves of payment. You make the check out for the loan amount + whatever interest they charge and date it for the 2-3 weeks whatever their loan period is and they deposit the check on the due date if you haven't come in and paid it off. If the money isn't in your account bank still pays them plus u get whacked with NSF etc.

As to what's required. I think just ID, post dated check and maybe a bill or 2 just to confirm your mailing address. If I can catch up with my neighbor before she heads to work I can find out for ya, she's used them

requirements
http://www.paydayloan.com/faqs.html#q3

Bank doesn't cash a bad check just because it's a loan. If you don't have overdraft it bounced like a superball.

I was stuck a few years back in the 'PayDay Loan' rut. Bastards charge so much interest and fees that you need to come back and do it every payday.

Hard to break the cycle until you can come into some money.

Thanks for the info xxxotic

anytime :)

even if i had, i don't remember, sorry %)

Had made a long post, my mouse back paged on me. Do not feel like typing it again.

Jist of it, I was a partial owner of one. Got bought out. I know them pretty damn well and will be getting back into them. What questions do you have?

do it in Oklahoma where you can garnish their wages.. then it's pretty easy... just hard to market to oklahoman's ;)

That's a shame, sorry to hear it. Could you maybe e-mail me about this so we can talk. Perhaps ICQ is good as well?

ICQ is fine, number is to the left under my name.

Thoses business are popping allllllllll over arround here right now.

holy crap

ANNUAL PERCENTAGE RATE**
14 DAY APR 30 DAY APR
$50.00 $8.82 $58.82 459.90% 214.62%

It is the only legal way to charge loan shark rates and legally ignore usury laws in the majority of places.