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How to beat paying a payday loan legally.

 
crestedone

User ID: 21416459
United States
12/05/2012 07:20 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


good luck ever getting a loan again
Anonymous Coward
User ID: 29161766
United States
12/05/2012 07:23 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


You are part of the problem. To throw your son in as an excuse is horrifying. This is what America has come to, people doing what they feel is justified instead of doing what is right. you need to change your direction and stop playing the i'm a victim card.
Anonymous Coward
User ID: 18475264
Canada
12/05/2012 07:28 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


tell that to the fed, banksters and wall st :)
Anonymous Coward
User ID: 18475264
Canada
12/05/2012 07:29 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


tell that to the fed, banksters and wall st :)
 Quoting: Anonymous Coward 18475264


also the 'devil' has nothing to do with it.. that's just your yahweh laws...
Anonymous Coward
User ID: 27310937
United States
12/05/2012 07:39 PM
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Re: How to beat paying a payday loan legally.
Translation:

I have fucked over my family and friends so many times by never repaying them for money I have borrowed that the only money I can get is to go to a high risk lender (i.e. someone who still will offer you a loan despite the fact that you are a known dead beat at a rate worth the risk of yet another default on your part so you can buy some kind of ADHD mind altering drug for your bastard child to zombify him/her/it so you can watch dancing with the stars/bang a loser/snort meth, so fuck them for being stupid enough to bail my loser ass out yet again, I ain't paying.

Does that about sum it up?
Meggarea

User ID: 1585244
United States
12/05/2012 07:43 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...
 Quoting: Anonymous Coward 1281779


You make the choice to accept those terms when you get the loan. Nobody forced you to go there. Nobody made those bad choices for you, you did it to yourself.

I got caught up so badly with those payday loans I had to file bankruptcy. Also, the bank closed my account for me once the overdraft fees from the repeatedly returned payday checks got too high. So don't count on those accounts staying open, either.

Anyone who does not pay money back they borrowed is a thief. Pure and simple. Thievery gets you the worst karma, too.
Aunty Flo

User ID: 28970751
Australia
12/05/2012 07:43 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


I just don't think that is ethical. It's not about cheating the system, its about making a fair system for everyone. If you made an agreement, and signed it with YOUR name, you have to pay that sucker off.

That debt WILL follow you, and will eventually fuck you up.

Thats the deal in Australia anyway. Your laws are different state to state.
Anonymous Coward
User ID: 26860321
United States
12/05/2012 07:45 PM
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Re: How to beat paying a payday loan legally.
Sorry, but if its legal, I'll fuck a bank or any other financial institution every chance I get and still never pay them back for all the times they've fucked me legally.

Just sayin.
Anonymous Coward
User ID: 29161766
United States
12/05/2012 07:47 PM
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Re: How to beat paying a payday loan legally.
Sorry, but if its legal, I'll fuck a bank or any other financial institution every chance I get and still never pay them back for all the times they've fucked me legally.

Just sayin.
 Quoting: Anonymous Coward 26860321


Please dont procreate. Just saying!
Meggarea

User ID: 1585244
United States
12/05/2012 07:48 PM
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Re: How to beat paying a payday loan legally.
It isn't legal. The payday loan place as well as the bank will not only ruin your credit, but they will have a legal right to any property you own (car or house), as well as any monies you ever receive. They will garnish your wages, and charge you for fines, fees, and penalties. It's the stupidest thing you could do.
DarthDickheadus:Ameri​canSith

User ID: 1503533
United States
12/05/2012 07:49 PM
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Re: How to beat paying a payday loan legally.
Remember, the government considers stealing competition, so I'd settle down and stop bragging.
(GLP aka American Jedi)

Listen here you beautiful bitch, I'm about to fuck you up with some truth.
Kenny Powers

If you steal the dreams of others long enough, sooner or later you'll end up in a nightmare.
American Jedi

Intellectuals solve problems, geniuses prevent them.
Albert Einstein

Satis Eloquentiae, Sapientiae Parum....

"The last of the old?"

"No, the first of the new."
Anonymous Coward
User ID: 29092468
United States
12/05/2012 07:56 PM
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Re: How to beat paying a payday loan legally.
For those who are citing future Karma...it's real! don't believe it?...just ask a co-worker of mine...seems he thought he would get over on the state taxes he owed, and he did...for a while....

his current landlord is raising his rent to far more than he can afford, so he decides to buy a house....BAM!!! he has a $25,000 lien on his credit that will have to be paid before *anyone will even consider him for a home loan...when he told me, I said "Karma's a BITCH ain't it"


*this is what the loan officer told him.
Anonymous Coward
User ID: 29168930
Australia
12/05/2012 08:02 PM
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Re: How to beat paying a payday loan legally.
Isn't medication subsidised in the US for low income earners?
Aunty Flo

User ID: 28970751
Australia
12/05/2012 08:03 PM

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Re: How to beat paying a payday loan legally.
For those who are citing future Karma...it's real! don't believe it?...just ask a co-worker of mine...seems he thought he would get over on the state taxes he owed, and he did...for a while....

his current landlord is raising his rent to far more than he can afford, so he decides to buy a house....BAM!!! he has a $25,000 lien on his credit that will have to be paid before *anyone will even consider him for a home loan...when he told me, I said "Karma's a BITCH ain't it"


*this is what the loan officer told him.
 Quoting: Anonymous Coward 29092468


Do you honestly think not paying taxes will garner universal Karma?

What are you, the Government?
CatBTX

User ID: 19108954
United States
12/05/2012 08:04 PM

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Re: How to beat paying a payday loan legally.
OP - Is this a relative of yours? Your offspring perhaps?

[link to www.dailymail.co.uk]

Last Edited by CatBTX on 12/05/2012 08:04 PM
Anonymous Coward
User ID: 25342985
United States
12/05/2012 08:06 PM
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Re: How to beat paying a payday loan legally.
This country used to forgive debt in bad circumstances, now we want to nail everyone to the wall and it's wrong.

 Quoting: Anonymous Coward 28008747


Big corps get their gigantic debts forgiven, but ordinary people can't get a break on anything. What's wrong with this scenario?
Anonymous Coward
User ID: 29092468
United States
12/05/2012 08:06 PM
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Re: How to beat paying a payday loan legally.
For those who are citing future Karma...it's real! don't believe it?...just ask a co-worker of mine...seems he thought he would get over on the state taxes he owed, and he did...for a while....

his current landlord is raising his rent to far more than he can afford, so he decides to buy a house....BAM!!! he has a $25,000 lien on his credit that will have to be paid before *anyone will even consider him for a home loan...when he told me, I said "Karma's a BITCH ain't it"


*this is what the loan officer told him.
 Quoting: Anonymous Coward 29092468


Do you honestly think not paying taxes will garner universal Karma?

What are you, the Government?
 Quoting: Aunty Flo


You know "Flo" I could spend time typing out a long reply but, life's too short for that Sooooo JUST FUCK OFF!
StormeyGoddess

User ID: 22004193
United States
12/05/2012 08:07 PM

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Re: How to beat paying a payday loan legally.
Why is your son not on any type of Medicaid?
"Don't look back, you're not going that way."

"As for me and my family, we will serve the Lord.”
Aunty Flo

User ID: 28970751
Australia
12/05/2012 08:07 PM

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Re: How to beat paying a payday loan legally.
OP - Is this a relative of yours? Your offspring perhaps?

[link to www.dailymail.co.uk]
 Quoting: CatBTX


She's an accident waiting to happen.
Burt Gummer

User ID: 7702124
United States
12/05/2012 08:09 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


Thief.

Value, moral and ethics system failsmile


censored
Aunty Flo

User ID: 28970751
Australia
12/05/2012 08:09 PM

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Re: How to beat paying a payday loan legally.
For those who are citing future Karma...it's real! don't believe it?...just ask a co-worker of mine...seems he thought he would get over on the state taxes he owed, and he did...for a while....

his current landlord is raising his rent to far more than he can afford, so he decides to buy a house....BAM!!! he has a $25,000 lien on his credit that will have to be paid before *anyone will even consider him for a home loan...when he told me, I said "Karma's a BITCH ain't it"


*this is what the loan officer told him.
 Quoting: Anonymous Coward 29092468


Do you honestly think not paying taxes will garner universal Karma?

What are you, the Government?
 Quoting: Aunty Flo


You know "Flo" I could spend time typing out a long reply but, life's too short for that Sooooo JUST FUCK OFF!
 Quoting: Anonymous Coward 29092468


But really?
pigchef
letsgetnihilistic

User ID: 26617053
United States
12/05/2012 08:10 PM
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Re: How to beat paying a payday loan legally.
Turnabout is fair play. Kudos to the OP.
"It's called the American dream because you have to be asleep to believe it."-George Carlin

"Freedom, baby...is never having to say you're sorry."-The Devil's Advocate

"In a time of universal deceit, telling the truth is a revolutionary act."-George Orwell

"If I shall exist eternally, how shall I exist tomorrow?"-Franz Kafka
Chris12138

User ID: 28445975
United States
12/05/2012 08:11 PM

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Re: How to beat paying a payday loan legally.
it's still theft
 Quoting: Anonymous Coward 13578021


This
Burt Gummer

User ID: 7702124
United States
12/05/2012 08:12 PM

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Re: How to beat paying a payday loan legally.
Turnabout is fair play. Kudos to the OP.
 Quoting: letsgetnihilistic


Stealing from someone else is fair play?

wtfspock

Last Edited by Useless Cookie Eater on 12/05/2012 08:12 PM
letsgetnihilistic

User ID: 26617053
United States
12/05/2012 08:12 PM
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Re: How to beat paying a payday loan legally.
Turnabout is fair play. Kudos to the OP.
 Quoting: letsgetnihilistic


Stealing from someone else is fair play?

wtfspock
 Quoting: Burt Gummer


I'm a nihilist.
"It's called the American dream because you have to be asleep to believe it."-George Carlin

"Freedom, baby...is never having to say you're sorry."-The Devil's Advocate

"In a time of universal deceit, telling the truth is a revolutionary act."-George Orwell

"If I shall exist eternally, how shall I exist tomorrow?"-Franz Kafka
Chris12138

User ID: 28445975
United States
12/05/2012 08:14 PM

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Re: How to beat paying a payday loan legally.
Translation:

I have fucked over my family and friends so many times by never repaying them for money I have borrowed that the only money I can get is to go to a high risk lender (i.e. someone who still will offer you a loan despite the fact that you are a known dead beat at a rate worth the risk of yet another default on your part so you can buy some kind of ADHD mind altering drug for your bastard child to zombify him/her/it so you can watch dancing with the stars/bang a loser/snort meth, so fuck them for being stupid enough to bail my loser ass out yet again, I ain't paying.

Does that about sum it up?
 Quoting: Anonymous Coward 27310937


cruiselaugh
Anonymous Coward
User ID: 28008747
United States
12/05/2012 08:15 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...
 Quoting: Anonymous Coward 1281779


You make the choice to accept those terms when you get the loan. Nobody forced you to go there. Nobody made those bad choices for you, you did it to yourself.

I got caught up so badly with those payday loans I had to file bankruptcy. Also, the bank closed my account for me once the overdraft fees from the repeatedly returned payday checks got too high. So don't count on those accounts staying open, either.

Anyone who does not pay money back they borrowed is a thief. Pure and simple. Thievery gets you the worst karma, too.
 Quoting: Meggarea


You didn't pay back the money you borrowed. You went BK and didn't pay back.

Hypocrite, you don't even realize this.

I can't believe the self righteous assholes on this thread, defending the payday lender as a moral imperative. The payday loan comes with whatever its specified and legal repayment and default provisions are. According to AC this is the legal default provision. The law is being followed.

Save your morality for something else. On second thought you're morons who lack morality and perspective. And BTW I am a Romney voter, highly against those who take advantage of entitlements, etc. Check my posts, it's a while since I've been banned so there should be some history ...
Anonymous Coward
User ID: 1499591
Netherlands
12/05/2012 08:17 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


"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


That thinking is the source of all mess, u dont realize that they just think as you only other figures, u could be one of them,nice
banana2
Chris12138

User ID: 28445975
United States
12/05/2012 08:18 PM

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Re: How to beat paying a payday loan legally.
Turnabout is fair play. Kudos to the OP.
 Quoting: letsgetnihilistic


Stealing from someone else is fair play?

wtfspock
 Quoting: Burt Gummer


I'm a nihilist.
 Quoting: letsgetnihilistic


One of the faggy europeans from Big Lebowski?

letsgetnihilistic

User ID: 26617053
United States
12/05/2012 08:21 PM
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Re: How to beat paying a payday loan legally.
Turnabout is fair play. Kudos to the OP.
 Quoting: letsgetnihilistic


Stealing from someone else is fair play?

wtfspock
 Quoting: Burt Gummer


I'm a nihilist.
 Quoting: letsgetnihilistic


One of the faggy europeans from Big Lebowski?


 Quoting: Chris12138


Nah, just one of those people smart enough to realize that morality has no basis in nature or reality and is a human construct.
"It's called the American dream because you have to be asleep to believe it."-George Carlin

"Freedom, baby...is never having to say you're sorry."-The Devil's Advocate

"In a time of universal deceit, telling the truth is a revolutionary act."-George Orwell

"If I shall exist eternally, how shall I exist tomorrow?"-Franz Kafka

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