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How to beat paying a payday loan legally.

 
Anonymous Coward
User ID: 17202531
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06/02/2012 05:35 AM
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How to beat paying a payday loan legally.
Check your local laws. But this is how it works in Texas and South Carolina.

I got a payday loan to help pay for medication for my son. I kept paying the maintenance fee weekly until I could pay it. When I moved back to Texas I pulled my money out if the checking account. I kept the account open so I could eventually pay off the loan.

Late fees kept piling up but since I had no overdraft protection they couldn't charge it. I was talking to a buddy who had the same issue and as it turns out, a payday loan is not considered a hot check. The law treats this differently than credit cards. It is simply a loan that is defaulted on.

As long as the account tied to your payday loan remains open, even if you have no balance, they cannot claim fraud since you didn't close the account on the loan.

In other words, they can literally not recover the money.

When they threatened to put it on my credit report I told them I would tell everyone I know who has payday loans with them how to get out of paying it. That was a year ago and it's still not on my credit reports.
Anonymous Coward
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06/02/2012 05:37 AM
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Re: How to beat paying a payday loan legally.
it's still theft
IRQ_1

User ID: 1157608
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06/02/2012 05:56 AM
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Re: How to beat paying a payday loan legally.
it's still theft
 Quoting: Anonymous Coward 13578021

Jack of all trades, master of none.
We are all the result of our past choices meeting the future.
"shall not be infringed."
Anonymous Coward
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06/02/2012 06:15 AM
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Re: How to beat paying a payday loan legally.
it's still theft
 Quoting: Anonymous Coward 13578021

 Quoting: IRQ_1


Money for son's medication = theft????
Anonymous Coward
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06/02/2012 06:45 AM
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Re: How to beat paying a payday loan legally.
Feel good about it, do you?
Seeker of Truth
'Be the love that you are.'

User ID: 17142600
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06/02/2012 06:48 AM

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Re: How to beat paying a payday loan legally.
Gaming the system will always come back to haunt you so beware as all debt is eventually collected even if by karma only.hf
'Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind.' - Dr. Seuss
'love has no opposite as it is the divine solvent that ends duality.' - m'Lord
'Be the love that you are' -m'Lord
The amount of love and good feelings you have at the end of your life is equal to the love and good feelings you create during your life.- mine
Yes, the things that others think, say, or do will sometimes hurt you— until they do
not anymore.What will get you from here to there most quickly is total honesty—
being willing to assert, acknowledge, and declare exactly how you feel about a thing.
Say your truth—kindly, but fully and completely. Live your truth, gently, but totally
and consistently. Change your truth easily and quickly when your experience brings
you new clarity.-God

[link to www.youtube.com]
Anonymous Coward
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06/02/2012 06:54 AM
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Re: How to beat paying a payday loan legally.
I have to say I agree that it is theft. Whatever you use the money for, it makes no difference. The people running the payday loans company are running a business, just like any other - would you steal from a shop? No I'm guessing.

If you can't pay it back you shouldn't take the loan in the first place. It sucks about not being able to afford medication, but that is a problem with your government. If they had any sense you would be like most of the rest of the world and have nationalised or at least heavily subsidised healthcare. This is what happens when primary healthcare is business. But no reason to steal from others.
Woever
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12/05/2012 05:25 PM
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Re: How to beat paying a payday loan legally.
I have to say I agree that it is theft. Whatever you use the money for, it makes no difference. The people running the payday loans company are running a business, just like any other - would you steal from a shop? No I'm guessing.

If you can't pay it back you shouldn't take the loan in the first place. It sucks about not being able to afford medication, but that is a problem with your government. If they had any sense you would be like most of the rest of the world and have nationalised or at least heavily subsidised healthcare. This is what happens when primary healthcare is business. But no reason to steal from others.
 Quoting: Anonymous Coward 5546541


Paycheck loan compaines are lowlife bottom feeders. They prey on poor despirate people. Piss on them all. I hope they are defaulted on until they all go bankrupt.

And dont get started about there rights. Most of them are not even liscensed in the states they do business in and 75% of them have paid fines or been closed due to illegal business practices.
BRIEF
Rebel with morals

User ID: 381742
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12/05/2012 05:30 PM

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Re: How to beat paying a payday loan legally.
Don't steal or make a deal with the devil...man up and earn it...
With freedom comes responsibility.

Heterosexual pride!

Briefcut4892
Anonymous Coward
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12/05/2012 05:30 PM
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Re: How to beat paying a payday loan legally.
Check your local laws. But this is how it works in Texas and South Carolina.

I got a payday loan to help pay for medication for my son. I kept paying the maintenance fee weekly until I could pay it. When I moved back to Texas I pulled my money out if the checking account. I kept the account open so I could eventually pay off the loan.

Late fees kept piling up but since I had no overdraft protection they couldn't charge it. I was talking to a buddy who had the same issue and as it turns out, a payday loan is not considered a hot check. The law treats this differently than credit cards. It is simply a loan that is defaulted on.

As long as the account tied to your payday loan remains open, even if you have no balance, they cannot claim fraud since you didn't close the account on the loan.

In other words, they can literally not recover the money.

When they threatened to put it on my credit report I told them I would tell everyone I know who has payday loans with them how to get out of paying it. That was a year ago and it's still not on my credit reports.
 Quoting: Anonymous Coward 17202531


umm you do realize that you probably do not own your car or house now, right? Typically those places ask for the title for your car, or the deed to your house. That way when someone does not pay, they collect the car or the house. So good luck when the repo man comes knocking on your door!

iamwith
Anonymous Coward
User ID: 28947938
United States
12/05/2012 05:33 PM
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Re: How to beat paying a payday loan legally.
"yeah it is still theft"

Come on, your average CITY-LEVEL politician is stealing TENS OF THOUSANDS OF DOLLARS, even in small towns! These pay day advance places are known fronts for criminal organizations or at least very shady and unscrupulous characters
Anonymous Coward
User ID: 29131839
United States
12/05/2012 05:38 PM
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Re: How to beat paying a payday loan legally.
Check your local laws. But this is how it works in Texas and South Carolina.

I got a payday loan to help pay for medication for my son. I kept paying the maintenance fee weekly until I could pay it. When I moved back to Texas I pulled my money out if the checking account. I kept the account open so I could eventually pay off the loan.

Late fees kept piling up but since I had no overdraft protection they couldn't charge it. I was talking to a buddy who had the same issue and as it turns out, a payday loan is not considered a hot check. The law treats this differently than credit cards. It is simply a loan that is defaulted on.

As long as the account tied to your payday loan remains open, even if you have no balance, they cannot claim fraud since you didn't close the account on the loan.

In other words, they can literally not recover the money.

When they threatened to put it on my credit report I told them I would tell everyone I know who has payday loans with them how to get out of paying it. That was a year ago and it's still not on my credit reports.
 Quoting: Anonymous Coward 17202531


umm you do realize that you probably do not own your car or house now, right? Typically those places ask for the title for your car, or the deed to your house. That way when someone does not pay, they collect the car or the house. So good luck when the repo man comes knocking on your door!

iamwith
 Quoting: Anonymous Coward 2142803


My daughter was stupid and got one of those loans and put up the title of her car i paid cash for,when they came ta pick the car up we gave it over.

But....LOL....

The cars motor and tranny was shot ta hell(i have friends)friends found used(dead)engine/tranny and swapped um for us.

Took me about a month for locating another body,then slammed the engine and tranny in that one for her,but this time the car stayed in my name.

I say fuck um!
Anonymous Coward
User ID: 28008747
United States
12/05/2012 05:40 PM
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Re: How to beat paying a payday loan legally.
it's still theft
 Quoting: Anonymous Coward 13578021

 Quoting: IRQ_1


Money for son's medication = theft????

 Quoting: Anonymous Coward 14914603


Yes, it's too bad the payday company gets stuck with it rather than the drug company.

But I think sometimes ya gotta do what ya gotta do. This country used to forgive debt in bad circumstances, now we want to nail everyone to the wall and it's wrong.

Best wishes to you and your son, OP. hf
Anonymous Coward
User ID: 29156363
United Kingdom
12/05/2012 05:40 PM
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Re: How to beat paying a payday loan legally.
its not theft if you owe the money retards.
Anonymous Coward
User ID: 14392840
United States
12/05/2012 05:45 PM
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Re: How to beat paying a payday loan legally.
Check your local laws. But this is how it works in Texas and South Carolina.

I got a payday loan to help pay for medication for my son. I kept paying the maintenance fee weekly until I could pay it. When I moved back to Texas I pulled my money out if the checking account. I kept the account open so I could eventually pay off the loan.

Late fees kept piling up but since I had no overdraft protection they couldn't charge it. I was talking to a buddy who had the same issue and as it turns out, a payday loan is not considered a hot check. The law treats this differently than credit cards. It is simply a loan that is defaulted on.

As long as the account tied to your payday loan remains open, even if you have no balance, they cannot claim fraud since you didn't close the account on the loan.

In other words, they can literally not recover the money.

When they threatened to put it on my credit report I told them I would tell everyone I know who has payday loans with them how to get out of paying it. That was a year ago and it's still not on my credit reports.
 Quoting: Anonymous Coward 17202531


?????????????

dont you have family to help you out? Why would you do this to the payday loan place? Why are you prideful on not paying them back?

They bought your Sons medication, how can you be so selfish to do that to them?

Honestly, youre an ass

Payday loans saved mine during some emergencies when I was young. I saved on the high interest by simply paying them back earlier. Each time I only owed maybe 25 bucks interest

Without them I would have been screwed

You sound like a ungrateful person of the lowest type.
Hahaha
User ID: 28872856
United States
12/05/2012 05:46 PM
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Re: How to beat paying a payday loan legally.
"yeah it is still theft"

Come on, your average CITY-LEVEL politician is stealing TENS OF THOUSANDS OF DOLLARS, even in small towns! These pay day advance places are known fronts for criminal organizations or at least very shady and unscrupulous characters
 Quoting: Anonymous Coward 28947938



You're trying to perform intellectual gymnastics in a lame attempt to justify what you did.

Face it, OP: You are a dishonest person. You are a loser. You SUCK!

What a great role model for your son! (not!)

Geesh.
Anonymous Coward
User ID: 26279632
United States
12/05/2012 06:01 PM
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Re: How to beat paying a payday loan legally.
"yeah it is still theft"

Come on, your average CITY-LEVEL politician is stealing TENS OF THOUSANDS OF DOLLARS, even in small towns! These pay day advance places are known fronts for criminal organizations or at least very shady and unscrupulous characters
 Quoting: Anonymous Coward 28947938


So this justifies YOU doing it. no matter the amount or cause. Not. I don't care if others are doing it, doesn't mean it's right for me to do it.

And yes, you have no intention of paying it back so it is theft.
Anonymous Coward
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United States
12/05/2012 06:05 PM
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Re: How to beat paying a payday loan legally.
Don't steal or make a deal with the devil...man up and earn it...
 Quoting: BRIEF


You said it Brief. Now granted they are loan sharks but you just went down to their level.

Seems more like your trying to rationalize the act of theft than anything else right now.
CE1
*****

User ID: 16916900
United States
12/05/2012 06:05 PM

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Re: How to beat paying a payday loan legally.
Don't steal or make a deal with the devil...man up and earn it...
 Quoting: BRIEF


Bottom line
nwo_watcher_911

User ID: 4520570
United States
12/05/2012 06:16 PM
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Re: How to beat paying a payday loan legally.
I learned a tough lesson in life once, and it goes like this:

"Just because you can, doesn't mean you should"



Just because you CAN hire the cute dumb blonde with big boobs doesn't mean you should.. ya know?


I used to think there was no shame in my game. However looking back I realized one person's dream may be another person's nightmare.

There are 2 or 3 outstanding small debts which are beyond the 7 or 10yr limit for credit reporting.. and i'm still working on paying them because it is the right thing to do.

Now if you were to drive by and see that the company went belly up, thats one thing... But if you drive by, and you have your kid in the car, explain to them this life lesson: Just because you can, doesn't mean you should.

My v8 can smash off the line at every red light, every time the light turns green... doesn't mean that I do though - an important life lesson.
nwo_watcher_911
Anubis
§†€ªmþüñk

User ID: 4949345
Canada
12/05/2012 06:22 PM

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Re: How to beat paying a payday loan legally.
my one comment on this is:

the standard rate on a payday loan is $20 per $100 borrowed.

so lets say you borrow $1000 on your payday loan but can't absorb it on the next payday so you keep re-borrowing every payday.

next payday you pay them $1200 and re borrow $1000
next payday you pay them $1200 and re borrow $1000
next payday you pay them $1200 and re borrow $1000
next payday you pay them $1200 and re borrow $1000
next payday you pay them $1200 and re borrow $1000

after 5 paydays you have paid them $1000 interest on $1000

i've been stuck in that hamster wheel before and it sucks!
Anonymous Coward
User ID: 29020320
United States
12/05/2012 06:27 PM
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Re: How to beat paying a payday loan legally.
payday loan company's charge in excess of 1000% interest for small loans to people with no other option. they prey on the needy, it's loan sharking made legal.

corporate bankers hold zero remorse as families are literally torn apart (financial problems being the #1 cause of divorce and stress) while they heartlessly collect their cash.

corporations (and governments for that matter) are not living breathing organisms. They are legal FICTIONS (fiction being the keyword here) and they only exist to get rich off and exert undue influence over the populace at large.

i'm glad op's son got his medication and hold no remorse toward the corporation that didn't receive their money back.

in a perfect world, the op would not have needed to borrow money. but, we live in an imperfect world and it is made more imperfect daily by greedy corporations and power hungry governments.
Anonymous Coward
User ID: 29020320
United States
12/05/2012 07:01 PM
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Re: How to beat paying a payday loan legally.
or, another way to put it....

op's son needed medicine.

so, op gave a slip of paper to a non-living entity organized as slips of paper, that was given authorization to exist by slips of paper. for the slip of paper the op gave to the slip of paper, op received slips of paper that were slightly different.

op then gave the slips of paper to another non-living entity organized as slips of paper, that was given authorization to exist by slips of paper.

for this, the son received the medicine he needed for his health.

op decided not to give slips of paper back to the slips of paper that gave op the slips of paper that op needed to give to the other slips of paper...

how can one steal slips of paper from a slip of paper?

if people stopped giving so much power to the slips of paper, maybe the world would become a better place.
Anonymous Coward
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United Kingdom
12/05/2012 07:02 PM
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Re: How to beat paying a payday loan legally.
Over here the low life payday loans scum charge 4000 percent interest. Take them for every penny you can. Besides, the OP has not done anything illegal, being trickier then they are is not a crime. Good on you OP.

And to all the sheep who think he is a thief: What the hell are you doing here?fuckoff2
Anonymous Coward
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12/05/2012 07:10 PM
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Re: How to beat paying a payday loan legally.
Check your local laws. But this is how it works in Texas and South Carolina.

I got a payday loan to help pay for medication for my son. I kept paying the maintenance fee weekly until I could pay it. When I moved back to Texas I pulled my money out if the checking account. I kept the account open so I could eventually pay off the loan.

Late fees kept piling up but since I had no overdraft protection they couldn't charge it. I was talking to a buddy who had the same issue and as it turns out, a payday loan is not considered a hot check. The law treats this differently than credit cards. It is simply a loan that is defaulted on.

As long as the account tied to your payday loan remains open, even if you have no balance, they cannot claim fraud since you didn't close the account on the loan.

In other words, they can literally not recover the money.

When they threatened to put it on my credit report I told them I would tell everyone I know who has payday loans with them how to get out of paying it. That was a year ago and it's still not on my credit reports.
 Quoting: Anonymous Coward 17202531


Are you that hard up you can't even pay back the payday loan? Why take it out if you have no intention of paying it back? Fag.....
CatBTX

User ID: 19108954
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12/05/2012 07:16 PM

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Re: How to beat paying a payday loan legally.
"yeah it is still theft"

Come on, your average CITY-LEVEL politician is stealing TENS OF THOUSANDS OF DOLLARS, even in small towns! These pay day advance places are known fronts for criminal organizations or at least very shady and unscrupulous characters
 Quoting: Anonymous Coward 28947938


Doesn't matter. It's still theft. You cannot justify your own stealing by pointing to what someone else has done.

What is it about personal responsibility that is so difficult to grasp?

I swear!
Anonymous Coward
User ID: 1281779
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12/05/2012 07:19 PM
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Re: How to beat paying a payday loan legally.
it's still theft
 Quoting: Anonymous Coward 13578021

 Quoting: IRQ_1




It's theft the crazy percentage rates they charge on that "LOAN". legalized loan sharking...
crestedone

User ID: 21416459
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12/05/2012 07:19 PM
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Re: How to beat paying a payday loan legally.
Check your local laws. But this is how it works in Texas and South Carolina.

I got a payday loan to help pay for medication for my son. I kept paying the maintenance fee weekly until I could pay it. When I moved back to Texas I pulled my money out if the checking account. I kept the account open so I could eventually pay off the loan.

Late fees kept piling up but since I had no overdraft protection they couldn't charge it. I was talking to a buddy who had the same issue and as it turns out, a payday loan is not considered a hot check. The law treats this differently than credit cards. It is simply a loan that is defaulted on.

As long as the account tied to your payday loan remains open, even if you have no balance, they cannot claim fraud since you didn't close the account on the loan.

In other words, they can literally not recover the money.

When they threatened to put it on my credit report I told them I would tell everyone I know who has payday loans with them how to get out of paying it. That was a year ago and it's still not on my credit reports.
 Quoting: Anonymous Coward 17202531


?????????????

dont you have family to help you out? Why would you do this to the payday loan place? Why are you prideful on not paying them back?

They bought your Sons medication, how can you be so selfish to do that to them?

Honestly, youre an ass

Payday loans saved mine during some emergencies when I was young. I saved on the high interest by simply paying them back earlier. Each time I only owed maybe 25 bucks interest

Without them I would have been screwed

You sound like a ungrateful person of the lowest type.
 Quoting: APOLLO ILLUMINIST


probably an obama voter
Anonymous Coward
User ID: 26191271
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12/05/2012 07:19 PM
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Re: How to beat paying a payday loan legally.
Gaming the system will always come back to haunt you so beware as all debt is eventually collected even if by karma only.hf
 Quoting: Seeker of Truth


The system doesn't count for karma, it's the fucking system that tries to fuck everyone whenever it can. It's meant to be taken advantage of. The loan companies charging 100 % or more APR are the criminals.
Anonymous Coward
User ID: 2712120
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12/05/2012 07:19 PM
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Re: How to beat paying a payday loan legally.
Check your local laws. But this is how it works in Texas and South Carolina.

I got a payday loan to help pay for medication for my son. I kept paying the maintenance fee weekly until I could pay it. When I moved back to Texas I pulled my money out if the checking account. I kept the account open so I could eventually pay off the loan.

Late fees kept piling up but since I had no overdraft protection they couldn't charge it. I was talking to a buddy who had the same issue and as it turns out, a payday loan is not considered a hot check. The law treats this differently than credit cards. It is simply a loan that is defaulted on.

As long as the account tied to your payday loan remains open, even if you have no balance, they cannot claim fraud since you didn't close the account on the loan.

In other words, they can literally not recover the money.

When they threatened to put it on my credit report I told them I would tell everyone I know who has payday loans with them how to get out of paying it. That was a year ago and it's still not on my credit reports.
 Quoting: Anonymous Coward 17202531


?????????????

dont you have family to help you out? Why would you do this to the payday loan place? Why are you prideful on not paying them back?

They bought your Sons medication, how can you be so selfish to do that to them?

Honestly, youre an ass

Payday loans saved mine during some emergencies when I was young. I saved on the high interest by simply paying them back earlier. Each time I only owed maybe 25 bucks interest

Without them I would have been screwed

You sound like a ungrateful person of the lowest type.
 Quoting: APOLLO ILLUMINIST


Nope, just sounds like an Obamabot of the worst kind, who think it's OK to TAKE BACK some of the money those "Evil, rich people" keep from those types of establishments. Never realizing, it's a BUSINESS, in business to MAKE MONEY, just like every other business, and that's not a bad thing.
Anonymous Coward
User ID: 24537691
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12/05/2012 07:20 PM
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Re: How to beat paying a payday loan legally.
or, another way to put it....

op's son needed medicine.

so, op gave a slip of paper to a non-living entity organized as slips of paper, that was given authorization to exist by slips of paper. for the slip of paper the op gave to the slip of paper, op received slips of paper that were slightly different.

op then gave the slips of paper to another non-living entity organized as slips of paper, that was given authorization to exist by slips of paper.

for this, the son received the medicine he needed for his health.

op decided not to give slips of paper back to the slips of paper that gave op the slips of paper that op needed to give to the other slips of paper...

how can one steal slips of paper from a slip of paper?

if people stopped giving so much power to the slips of paper, maybe the world would become a better place.
 Quoting: Neoanderthal Man


Priceless!

dasbier

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