Payday Loans in Georgia

[Rozi]

Ughhh I am so upset right now!! I hate living in Georgia!! I am in a financial jam and I can't freaking get a payday loan!!! I only need it for one week!!! Man I hate this backwards state!!!!!

[frogger]

They're doing you a favor by not giving you a payday loan. If you do get the loan, perhaps you should rent a U-Haul and move?

[Rozi]

Would love to move thanks for your smart comment...

[bcohen]

Payday loans--or any other type of loan charging more than 30% interest--should be illegal in any state. Payday loans often charge the equivalent of 1000% APR or higher!

[Bell30656]

I also live in Georgia and I am very glad that payday loans are illegal. There are many other things you can do if you need quick temporary money. There's the pawn shop route. There's small loan companies like; Covington Credit, Security Finance, Reliable Finance, World Finance, etc. However, I do not recommend any of them. When I have encountered this type of situation I've just paid someone late.

Another action I took once was go to my local branch office of my bank. I explained my situation and that I really, really needed to pay something but wouldn't have the money until my direct deposit came on Friday. The branch manager took care of it. They paid the item and charged me $35 which he then refunded to me. Now I have overdraft protection on my bank account.

[Rozi]

Thank you so much for the suggestions Bell! I just needed a place to vent

[Bell30656]

Venting is good. I like to do it too. Keep in mind that Georgia got proactive against the payday lenders because they were really taking advantage of people. There was a company in Cumming, GA that was charging huge amounts and then allowing people to renew the loan each week. The principle would get bigger each time. People just couldn't get out from under it. It was bad.

[AngelinaCat]

We have payday loans here in Florida, and I certainly wish they were illegal here as well. Instead of being backward, Georgia should be congratulated. We have a friend that is addicted to them, and cannot/will not stop getting them.

[wantout]

Well if you really really really need to go the pay day loan route, theres this indian loan company I see advertised on TV, LOL

I kid I kid, dont you dare do that.

[Rozi]

LOL I already went there Wantout and saw the rates and went no Thank you.. Now that is a rip off!!

[tobee43]

We have payday loans here in Florida, and I certainly wish they were illegal here as well. Instead of being backward, Georgia should be congratulated. We have a friend that is addicted to them, and cannot/will not stop getting them.

yes we certainly do!!! i never ever in my life heard of a payday loan until we moved to florida! i couldn't figure them out for the longest of time. you mean they give you money based on your what you are going to earn next week? what happens if you get sick and have no sick time, or you can't pay? they are scary things!

[JimKutkowski]

Payday loans--or any other type of loan charging more than 30% interest--should be illegal in any state. Payday loans often charge the equivalent of 1000% APR or higher!

It begs the question are people not adults capable of making decisions? What right does government have to restrict people. Payday loans are bad, children going hungry because the only option on the table is gone is worse.

[ValleYum]

It begs the question are people not adults capable of making decisions? What right does government have to restrict people. Payday loans are bad, children going hungry because the only option on the table is gone is worse.

So, in your BK practice do you see a lot of Debtors discharging payday loans?

[JimKutkowski]

So, in your BK practice do you see a lot of Debtors discharging payday loans?

A few, but most of them are on-line since our legislature banned them a few years ago. If I ever get to the state house, I'm going to try to undo that... and about a million other unnecessary nanny-state crap pieces of legislation.

[TheBajan]

What right does government have to restrict people. Payday loans are bad, children going hungry because the only option on the table is gone is worse.

This could really become it's own topic. In fact... I'd like it to be. Sooo...... to be continued...