Now that's pretty dang sneaky!!

[Genenco]

OK, call me anything you want, but it was quick enough.

Long story short, I needed $450 I hit up 2 online payday loan companies.

I'll pay back the amount (And $135 interest) but the buggers have the most LOW DOWN SNEAKY PETE CONNIVING!

I'll have to be VERY careful for the next few days, gotta write up several reminders about calling them that weekend...Sneaky (Legal) but VERY sneaky!

************************************************
Here's the details on the loans and the "Rules"
************************************************

We would like to explain our service to you as to make it very
easy for you to use our service for all of your future cash needs.

By receiving a loan through 500Fast Cash you agreed that your loan will
be renewed on every due date unless you notify us of your desire
to pay in full or to pay down your principle amount borrowed. What
this means is you will pay the interest fee (only) on your due date.
If you loan is renewed you do acquire a new interest fee.

Renewal. Your loan will be renewed on every due date
unless you notify us of your desire to pay in full or to pay
down your principle amount borrowed. You will accrue a new
fee every time your loan is renewed. Any fees accrued will
not go toward the principle amount owed.
On your fifth renewal and every renewal thereafter, your
loan will be paid down by $50.00. This means your account will
be debited for the renewal charge plus $50.00, this will continue
until your loan is paid in full.

Pay Down. You can pay down your principle amount by increments of
$50.00. Paying down will decrease the fee charge for renewal.
To accept this option you must notify us of your request in writing
via fax at 1-800-XXX-XXXX, at least three full business days before
your loan is due.

Paying your loan in full.
If for any reason you do not wish to renew your loan, meaning you
wish to pay your entire balance or; your remaining principle and any
fees due on your due date, please call our office three business days
before your due date. State to the representative that you would like
to pay your loan in full. They will fax you an account summary document.
Simply sign and fax this document back. Upon receiving the document,
the full balance will be debited from your checking account.


There is a three-day rule on a pay out of your loan. We need to receive
the document in our office by 4:30 p.m., three full business days before
you are due. That means if you are due on Friday, we need to have the
document by 4:30 p.m. on Tuesday. If we do not receive the document,
in time, your loan will be renewed.

[Lightning]

How are they being sneaky when they lay out all the terms for you? If you don't like the way they do business, don't do business with them.

[Genenco]

How are they being sneaky when they lay out all the terms for you? If you don't like the way they do business, don't do business with them.

That the thing smarty, they didn't..Go to a cash advance web site, see it you get the terms..

They make you THINK they'll debit your acocunt on the due date, but they don't tell you that YOU have to jump through hoops.

As usual Lighting, you shoved thy foot deep into thy mouth..Chew well fool, chew well.

[Lightning]

Calling and faxing a form doesn't sound like jumping through hoops. If you read these terms before you took out the loan, and you didn't like them, you could have walked away.

I'm not clear as to why you're upset with the company when you chose to do business with them.

If you read the fine print on anything from credit card applications to sweepstakes entries to computer software licensing agreements you'll often find things that seem "sneaky". It's the nature of business.

[Genenco]

Calling and faxing a form doesn't sound like jumping through hoops. If you read these terms before you took out the loan, and you didn't like them, you could have walked away..

Damn lighting, are you blind or just stupid? The complete terms were never disclosed! Geezzee what an idiot!

Plus how many people have personal access to a fax machine? How many actually NEED one in their homes? Man, I cannot believe there's someone dense as you in the world!

I'm not clear as to why you're upset with the company when you chose to do business with them. ..

Because you didn't read my reply..fool..

If you read the fine print on anything from credit card applications to sweepstakes entries to computer software licensing agreements you'll often find things that seem "sneaky". It's the nature of business.

That all businesses are sneaky? Then wait till you retire...Can't wait for you to scream foul when the SS admin says "Tough, we won't give you a dime!"

Hey fella here's a suggestion.

Take left hand, grab right ear

Take right hand, grab left ear.

PULL HARD!

When you hear the POP! you'll know your head has cleared your rear cavity and now you can think normally...If you ever did before...

[tinroofrusted]

Damn lighting, are you blind or just stupid? The complete terms were never disclosed! Geezzee what an idiot!

Plus how many people have personal access to a fax machine? How many actually NEED one in their homes? Man, I cannot believe there's someone dense as you in the world!




Because you didn't read my reply..fool..



That all businesses are sneaky? Then wait till you retire...Can't wait for you to scream foul when the SS admin says "Tough, we won't give you a dime!"

Hey fella here's a suggestion.

Take left hand, grab right ear

Take right hand, grab left ear.

PULL HARD!

When you hear the POP! you'll know your head has cleared your rear cavity and now you can think normally...If you ever did before...

ROFLMAO!!!! I haven't laughed this hard in a long time. This is the best comeback ever!

Thanks for the laugh!

[Lightning]

The complete terms were never disclosed!

So you're saying you signed for a loan, and the terms were never disclosed before the signing of the contract? You only received the terms above after you signed the papers?

If you signed a contract with one set of terms and then those terms were altered after you signed, you should have no problem fighting this in small claims court.

Can't wait for you to scream foul when the SS admin says "Tough, we won't give you a dime!"

I don't have full confidence that social security will be available to me when I retire. That's why I'm saving enough for retirement to not need social security.

I don't appreciate your name-calling, and I've reported it to the moderators. Hopefully they'll apply the forum rules fairly to everyone.

[StaciMM]

Lightning took a lot of flack for being rude & judgemental. Calling him or anyone else a fool, an idiot, and stupid is uncalled for.

Payday loan companies are known for being costly. I agree with Lightning-review all the terms before committing. The full terms are likely not going to be posted in bold letters on their home page (any company or person is going to try to stress their good before going into the bad for a first impression), but they would be made available before you took their money. If you don't like what they offer-don't accept. If you do accept, at least you know what you're in for. *And if they don't make their terms available in advance, don't do business with them!*

[Genenco]

Lightning took a lot of flack for being rude & judgemental. Calling him or anyone else a fool, an idiot, and stupid is uncalled for.

Payday loan companies are known for being costly. I agree with Lightning-review all the terms before committing. The full terms are likely not going to be posted in bold letters on their home page (any company or person is going to try to stress their good before going into the bad for a first impression), but they would be made available before you took their money. If you don't like what they offer-don't accept. If you do accept, at least you know what you're in for. *And if they don't make their terms available in advance, don't do business with them!*

I'll not be apologizing to Lighting for his posting Staci, but as I said, the "Terms" (Full disclosure) was never given. In other words, they said "You can repay, or renew or rollover" but the full terms were never disclosed and this is common I have found out.

Plus how was I to know they would do it this way? Come on!

[Genenco]

I don't appreciate your name-calling, and I've reported it to the moderators. Hopefully they'll apply the forum rules fairly to everyone.

Maybe you'll learn from this...Maybe not.

[Lightning]

When did you receive the full terms that you quoted in your original post?

[sunshine08]

Boy and I thought I was having a bad day!!!!!!!!
Genenco - please clarify about when you received "the terms" I have never had to use any type of pay day loans, so I am unfamiliar with any of those practices. How did you find out about "the terms" Had you ever used them prior and what made you decide to use them( I didn't know if you were referred to them by a friend or something) This info hopefully will be helpful to others and serve as a warning.
Also, just a FYI, if you use debit cards at the gas pumps, gas stations can "put a hold" on your account for a set amount (here it ranges from $50 to $75) PLUS the cost of the gas and take up to a couple days for the "hold" amount to be deleted. I don't use debit cards either. Cash or check. Can you tell I am from the country?
I have a retirement account I contribute to, not as much as I would like but I won't have to rely strickly on ss. Also, those that have company based retirements need to check if they are federally insured and not subject to bankrupcty if the company files.
Note to lightening - give it a rest! You can't stand it when the someone says something you don't like. You reported it to the moderators, you sound like a whiny little kid tattling. I am tired of you sitting on judgement of other people, asking us questions. WHY don't You tell us about yourself the real you!!!!!!!!! Not just the bragging rights. Monday, I read a couple posts and gave you kuddos on your "restained" commets. They were appreciated by me anyway.
Now to completely finish off my day because I AM ON A ROLL, it is not playing pretty to call people fools. The payday companies are sneaky and take advantage of people in a tight because they can. Especially to someone with less than perfect credit etc. I think that there needs to be more regulation. In NC, our state has made large strides in attempting to regulate these practices. Things don't change if people don't speak up. I think Geneco had good intentions to let this serve as a warning to others that may be taken in by these companies. Now my thoughts and opionions and about $3.29 will get me a gallon of gas. YEAH

[tinroofrusted]

Have we all forgotten? Lightening is perfect, and therefore we must bow to worship his royally pain in the behind.........


How bout it Lightening? What are you really here for? To spread your message or perfection to those who don't have a perfect fairy tale world such as in the Walgreens commercials? Have you filed bankruptcy like most of the rest of us have? What's YOUR story? I am DYING to hear it.

[Minnymouth]

I thought this "thread" was about Payday loans???

Now it has turned into "name calling, insulting, and personal jabs at each other"......

This needs to stop, folks, or I'm sure one of the moderators will deal with it.....!!

This forum is about bankruptcy, and other issues that might be of importance to the public.

We want to have healthy, objective discussions on this forum without "bashing each other".....

Everyone is entitled to their opinion - whether we agree with them or not..... but "personal arguements" have no place on this forum..... What does a "newbie" think when they read these threads.....? How much "support" are we offering them bashing each other's opinions??

So it's TIME to get back to healthy discussions on this forum, its TIME to be polite and voice our opinions with respect.

All of YOU have good suggestions, opinions and ideas... you just need to control how you present them.

Please do for the sake of this forum....

I'm sure continued "outbreaks" of name calling and bashing will be dealt with....

Minny

[Minnymouth]

"If a man can make you "mad" - he PROVED he was smarter than YOU!!!"

Minny