My Cash Now and other payday loan places destroyed my life

I never even contacted these guys for anything and I keep getting harassing phone calls from them. That's BS being that I never received a dime from them, even though they stated that I did. I have bank records to prove I didn't... Every time they call I tell them I've never heard of the company and they hang up on me. So, obviously it's not my fault.

It is my understanding that Cash now or any of those loan outfits can't criminally bring a case against you.  They can only file a civil suit.  You borrowed money from their service.  Even if you gave them a post dated check, you can stop payment on it and they can't do anything about it.  This is my understanding but you would need to check further to be sure but this is what I was told.

First almost all of these Pay Day loans are "off-shore". They can not file charges against you in the United States, just as the United States can not file action against them to stop giving out what equates to illegal loans.

They use scare tactics like "check fraud". No state will consider a post dated check or an electronic agreement to debit as check fraud. At the time the agreement is made, you are assuming the money will be available at another date. You can not garuntee that it will be.

Defrauding a financial institution is another. Again, all loans, pay day or not, are civil agreements. I work in the compliance department for a bank. We have thousands of loans that are granted and never receive payment. We can not have them arrested. It is Bogus.

If a third party agency in the States attempts these tactics, record your calls. Save your emails. Contact an attorney specializing in FDCPA regulations. It can get you up to $1000 per violation.

Don't let these guys bully you.

I simply checked online for interest rates and other information on a "loan" thinking all the time the rates would be rediculous. They were, except for Western Sky, which seems reasonable for the product. Lo and behold, MY Cash Now made a deposit without consent--after a brief phone conversation, they were told "NO thank you" and still deposited the funds!!!! I'm closing the account and filing chapter 7. My advice--if you need payday loans, it's time to start fresh anyway. If you know it's short term, deal locally and don't be afraid to visit the local pawn shop. That's what they are there for.

Since just trying to get rates and information online, I'm deluged with phone calls, junk mail, spam, etc.

The Gvt. will bail out the rich, but not us--they won't even regulate this illegal (?) loan sharking. Pay cash, don't buy what you don't need, and use the bankruptcy laws if need be.

Be financially responsible, but in this economy and the tough job market unexpected things happen.

Again, don't even research "payday" loans or it will cause you a world of grief.

I have used this company I believe 5 times over the last 2 years, once for as much as 550.00. Every time I have had no problems, but I have also complied with the terms I agreed to when I accepted the money. Before 4pm on the business day before my payment is set to come out I can log in and tell them how much to take as long as I at least pay the minimum amount required. I have never tried to call because I have never had a need so I cannot speak on that experience but their website is simple and capable. Obviously if you accept the money you have to accept the terms.

i think i may have ben a victim also. a man with a weird accent calls my moms house on a cell phone yelling that i took money and never paid it back. also yelling how he was going to sue me and take me for everything i have. he said he knew my information and my mothers and husbands and was going to attack their credit score and report if i didnt pay him. he then asked for my bank info. oh man was i pissed. i was yelling back at him. you wanna know the ticker? I never took out any loan from any internet company. i told the man if i did i wouldnt be 6 months pregnant looking for a job to help my husband pay the bills. i also told him i can prove to the courts that i never received a dime from their sompany. after slamming me and threatining to attack my husbands credit score and my moms. I asked to speak to his supervisor and i wanted the number to the loan company that i supposedly got the money from. letting him know that I am within my rights as a so called consumer to have this information so i can contact them myself and go through them. he was consistent that he could not share that info with me. i was on the phone with this guy for 2 hours yelling. i hung up 3 times and he kept calling back. i have his number saved on my phone and my moms phone. i called the cops and checked my credit score and my credit score is low but doesnt say anything about a loan of 1500. i tried looking up the company he was representing and it was mycashnow.com. im trying to figure on thing out. if i started to fill out an application online for a paydayloan but as soon as had seen them asking me for my bank info or they want to charge a fee and i exit the screen can they still process the info and try to sue me for money i never aggreed to and never received?

I agree this industry is largely a rip-off because it targets blue collar workers who do not have variable pay increases or bonuses and are living off of very tight budgets. I live in the Hampton Roads area of Virginia and these places are litterally on every corner.

I have used the online version, specifically My Cash Now, about 3 or 4 times. I cringe when I have to use it, because I feel like I messed up somewhere with my money managment and usually I did. However, I never requested for more than I could chew. Every time I took a loan, I made sure I would be able to pay it back before I took the loan. That is the easiest way to avoid the extensions, I have not had to use the extension feature yet, and hope to never have to use this dirty website ever again.

Please be careful, because they make it so tempting, but the control is truly in your hands if you plan accordingly.

My email came back undelivered, with another link. I clicked on the link and another email came up. So I forwarded my message to that email.

I told them I was forwarding their threatening email to my Attorney General and FTC Commission, and my Attorney would be in touch with them.
I wonder if they will get the email.

I received a threatening email from them today,
Since the account was closed, they sent me a
closed account warning threatening to report me
to the FBI, report me for fraud and criminal acts
just because they did not get their payment.

I had every intention to pay, but its an insult to my intelligence to send an email like this.
I sent them an email back asking for their mailing address, name,business license number and information about what states they can legally operate in.

I had intentions of mailing them a money order
to the mailing address they provide, certified of course.

If they have violated FTC laws by threatening emails,do I still have to pay them back, even if they violated FTC laws?

If they come back with " cannot tell you the address" I'm getting an attorney, because if they are not legit and legal, I dont legally owe them, right?

sorry everyone i,m not an idiot it is the SHERIFF DEPARTMENT typing fast and hungry!!!

Cash Advance and Payday Loans, that charges extreme interest rates. they know in advance that you do not have funds, which is the reason you requested a loan. this is not considered a bad check, period, you write a bad check if you go to a retail store and there is no funds available in your checking account, when the check is submitted. some merchant will try to resubmit the chk again before they contact you for payment. however they are not obligated too. some merchants have checkcare or telecheck, that will contact you first to make good on the chk. if you ignore them then they will report you to the district attorney. the point is these are considered as loans only. if you are the type of person that goes from merchant to merchant writing bad checks then the district attorney will get involved because you will be a criminal. these companies only trying to scare you to pay them up. don,t let them. pay what you can. they can prosue further in magistrate court depend on what state you live in. believe me these companies prefer not to. they would have to fork out the court fees and chances are you may not have the money to pay in court. the magistrate office have records of the court summons and will report it in the books as public records. may also show up on your credit report through the courts that you owe this money, for 7 years. i live not far from north charleston sc in which one of the cash advance company did scare some of their elderly customers by sending a chief department notice in the mail to all that could not pay. guest what they did? all the customers went down to the chief department. the authorities immeditly arrested the cash advance payday loan Representives on tv. !!!! BECAUSE what they did was illegal!!! they scare these people in believing that they will be prosecuted and jailed!! we had no problems since in SOUTH CAROLINA REGARDING CASH ADVANCE OR PAYDAY LOANS AGAIN. i use to work for telecheck and merchant services. pay what you can.

This goes out to everyone who is tangled up in some sort of collection.

These agents at collection comapnies will use all types of scare tactics to get you to send them money. Once the loan company turns your account over for collection, the collection company owns it.

If oyu owe $500, the company may sell it to the collections agency for $200. Now the collection agency is like a used car salesman trying to get you to pay something. They will lie, cheat and steal. They will threaten you with court, credit reports and even jail.

The worst they can do is file a judgement against you that sits on your credit report for 7 years. THey won't waste time taking you to court due to the costs. If you don't have $$ now, what good does it do to take you to court? Do they think the judge is going to make you sell a kidney?

Don't be intimidated by collection agencies. If your credit is already crap, ignore them...there are lasw that protect you against harrassment. They CAN NOT call you at work!!!

Now, once you DO finaly get out of your predicament, try hard to manage your money better so you don't get into this situation again.

The thing is, you MUST pay a payday loan off as agreed or they WILL come after you.

Tips for using payday advance loans:

1) Don't EVER get more money than what you desperately need to see you through. If you get extra, you won't know what you spent it on.

2) Be absolutely darned sure you have the money to pay them back as agreed or the fees WILL be outrageous and will only turn your temporary financial crisis into a PERMANENT one. If you have to borrow money from Mom for two weeks, temporarily pawn your television, sell your baseball cards on eBay, whatever else to pay them on time, DO IT!

3) DO NOT WAIT for them to call you. Take the initiative and call THEM! Any type of bill collector always appreciates a debtor who doesn't hide behind the answering machine and tells the kids to say they're not home.

4) Above all, BE HONEST! Don't tell them the money will be in your account on such-and-so and then not put the money in your account. My own financial problems were caused by a REALLY DISHONEST home warranty company. I called my creditors and told them about my problems truthfully, and in many cases they bent over backwards to help me pay off my debts AS LONG AS I KEPT IN TOUCH and was HONEST. Yeah, there's always going to be one or two absolutely demonic creditors who don't give a crap if you will be homeless in two weeks because of their demands. Tell this to the companies that are working with you and you'll eventually see the light at the end of the tunnel.

5) Don't get a payday advance unless you DESPERATELY NEED IT. Say you MUST bring your mortgage current or the mortgage company will start foreclosure proceedings. THAT is desperate. Say you MUST keep your car running and you can't get to work to make money any other way because you live in the sticks with no public transportation. THAT is desperate. Say you have half a cup of breadcrumbs and a piece of moldy cheese in the house to feed a family of five. THAT is desperate. Payday advances for non-life-threatening things are a mistake.

6) Don't make payday advances a habit. Use them only to get out of a desperate situation, and then pay them off and forget the option even exists. A $50 fee on a $250 loan is absorbable on occasional use, but those $50 fees add up and place an even more onerous burden on your already stressed finances.

sorry, allowing you to give a competitors name would instigate others to just file against their competition, to only come back later to suggest their company your comments on this policy are welcome! CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

My suggestion would be to read the fee schedule before getting involved. Doesn't 18 dollars on 100 dollars for 14 days seem like a high rate. Do the math. It's over 400 percent APR.

Don't blame My Cash Now. Blame yourself.

Don't ask the government to pass laws to protect you form yourself.

We have had 3 other loans with MYCASHNOW and they were paid ontime without any problem. Well this 4th loan has been renewd 3 times, and today when we were going to sign into our account to get the extion with $50.00 priciple + the finance charge of $45.00 for a $90.00 renewal. The wesbite woulnd't let us do it, I called their 866 number and was told it had been turned over to credit collection was given a number of 866.645.1661 , they wer closed at 6:30 PM Central Time already today. I have the bank statement which shows that a ACH/DEBIT was paid to, "Credit-Protection" on Feb 3, 2006 just as we agreed now they want the whole ammount back now.

We ahev enough money in the account but we are going to be tight until the next payday. Was counting on Tax Refund today but we e-filed a day too late so it will be 1-2 weeks yet. Is MYCASHNOW trying a new tatic to try and force us to overdraw and collect moe fees as if 400% APR and 3-4 renewals are not enough money. I still can't fiquire out why they turned it over to the colection department when we have always paid what we are obligated to pay, and haven't had any recent NSF history through places like Check Systems, or Telechek.

Also the girl in the last report said you worked for them why did they say they wer located in Carson City, NV is this the same Cashnow place? If they are in TN and you don't work there anymore why not tell us what their amiling address is so I can give it the Iowa Attorney General when and if I don't get this contractual payment agreement resolved.

I use to work there for about a month. They fired me because the girl that was training me told me to erase some emails. I did what she told me to do and then she went and told Jim that I did it and he fired me. One thing about being in Granada. You can't go buy the laws in Granada because there physical place of business is in Chattanooga TN, so there is caps on what they can charge you. Even if they threaten fraud which the girl I worked with did many times they cannot do anything to you. If your account goes bad, close it out and get another one. If they continue to harass you, send them a letter to their local address, certified stating you do not want to hear from them again and by law they cannot contact you again. If a collection agency hired by them is calling you do the same with them. They messed up when they fired me because I was committed to doing a good job for them. The girl I worked with, Melissa, or lisa, I don't remember her name was breaking the law. She was faxing notices to peoples work with all the information on the sheet for anyone to see, which is against the FDCPA. Federal Debt and Collection Practices Act. They could be reported to the Dept of Commerce. She would call people and talk to the peoples bosses about the problem. She almost got someone fired from their job one time and in the name of God got them out of it. She retracted her story to the boss when the person called in and complained. If they only knew how faithful I was in my job with them. Thats ok everything happens for a reason. I want to thank them for firing me because now I have my own business collecting 100's of thousands of dollars every year, so to speak. (Not Payday) but through sales.

I am an owner of a payday loan store and website. (not mycashnow.com) It's a legitimate, although thankless, business that serves an important need..

I understand that people get upset when they hear that interest rates are 500% and think that's crazy, but it's all a matter of perspective. Consider:

If your friend came to you on Monday and said they DESPERATELY needed $200 to get new tires or they'd get fired for not showing up to work, and they would pay you back on their payday which was Friday.. and you agree but said for your trouble you'd like to be repaid $205.. so $5 interest..

When put into an APR, that's 227%.. and therein lies the problem.. $5 under those circumstances sounds quite reasonable but 227% sounds criminal. But they're the same..

Annualizing things doesn't really help in all situations. After-all if I go stay in an $80/night hotel room, is it really useful to me if the hotel says "By the way, that's $29,200 for the year."???

People get themselves in trouble and then blame other people all the time.. it's easy to lay blame on a payday lender for wanting to be repaid, but you weren't blaming them when nobody else came through for you and gave you $300 or $400 to save your a*s.

If you get into problems repaying, call the lender and explain the problem. They're not interested in sicking collections people after you to anger you.. they're only interested in getting their money back and they WILL work with you.. I've been there hundreds of times and never did I refuse to help any reasonable person.

As for the above reader's "Payday Loans Are Free Money" ideas.. actually, that can be the case.. If you are willing to never keep a job, move constantly and live in hiding - it will be difficult to force you to repay.. and if that's how you chose to live, then I would believe that you have bigger problems than your payday loans.

Jeff

Robert:

I just had to respond to you because your post makes me quite angry. With that in mind, I have selected a few comments out of your post and will address each separately:

"If you applied and accepted a payday loan and did not have the available funds to pay back the loan when due, you have indeed commited fraud, by issuing a bad check without the intention of paying your loan per your signed agreement and should be imprisoned."

Do you really think that most people apply for payday loans, or any other loans for that matter, without the intent to pay it back? People cannot be charged with fraud for being unable to pay a debt. Even if you want to go the "bad check" route, you would have to prove that the person writing the check knew that he would not have the funds available for that check to clear, and it usually has to be more than one check. Otherwise, any person who has ever had a single check bounce would be in jail!

"Quit your bitchin' and screaming about being a victim. You are the victim of your own stupidity."

These people are victims of a usurious and unscrupulous loan industry that preys on the middle class and the working poor. There is another term for what these people do and it's called "loan sharking." It used to be illegal, however it seems the restrictions have loosened up quite a bit in the last little while, and with the recently passed bankruptcy bill, those restrictions have gotten looser still.

The cost of living has sharply increased lately but without the rise in wages that usually accompanies it. People find themselves struggling to make ends meet on smaller and smaller paychecks.Unexpected expenses, such as an expensive medical bill,can cripple even the most meticulously planned budget.

The short term or "payday" loan industry takes full advantage of this. On top of that, job security is not what it used to be and anyone at any time could find him or herself unemployed. Suddenly that paycheck you were banking on to pay back that loan you took out to make it to the end of the month isn't there. That, sir, is neither stupidity nor a criminal act. It is just a fact of life in this day and age.

"... However,they have heard it all before and have to use whatever strong arm tactics are available to them to collect the money due them from deadbeats. They do have laws to abide by..."

You're right in that there are laws designed to protect people from debt collectors...it's called the Fair Credit and Debt Collection Act, and it's Federal law. They are not allowed to "use whatever strongarm tactics are available to them." Specifically,debt collectors are not allowed to issue threats, especially
empty threats, such as threatening prosecution of fraud. Furthermore, they are never, and I mean never, allowed to use abusive language or tactics. Mycashnow.com is notorious for this, which I find amazingly hypocritical for a "Christian" organization.

To those of you who have been victimized, my heart goes out to you in your time of need. I know things are hard and I know how furious and helpless you feel every time you have to get on the phone with these loan sharks. You are not helpless, however. Report them to the FTC and the Department of Justice. I did, three years ago when I had my own troubles with mycashnow.com. If every single person who has been bullied, and threatened, and harassed by mycashnow.com would file a complaint with at least the FTC, the government would have to step in and shut the vultures down.

To anyone else reading this who is thinking about getting a short term loan with this or any of the other numerous similar companies, please do not do it. It is not worth it and it will only make your financial situation worse. 485% interest on any amount of cash is insane!

Robert:

I just had to respond to you because your post makes me quite angry. With that in mind, I have selected a few comments out of your post and will address each separately:

"If you applied and accepted a payday loan and did not have the available funds to pay back the loan when due, you have indeed commited fraud, by issuing a bad check without the intention of paying your loan per your signed agreement and should be imprisoned."

Do you really think that most people apply for payday loans, or any other loans for that matter, without the intent to pay it back? People cannot be charged with fraud for being unable to pay a debt. Even if you want to go the "bad check" route, you would have to prove that the person writing the check knew that he would not have the funds available for that check to clear, and it usually has to be more than one check. Otherwise, any person who has ever had a single check bounce would be in jail!

"Quit your bitchin' and screaming about being a victim. You are the victim of your own stupidity."

These people are victims of a usurious and unscrupulous loan industry that preys on the middle class and the working poor. There is another term for what these people do and it's called "loan sharking." It used to be illegal, however it seems the restrictions have loosened up quite a bit in the last little while, and with the recently passed bankruptcy bill, those restrictions have gotten looser still.

The cost of living has sharply increased lately but without the rise in wages that usually accompanies it. People find themselves struggling to make ends meet on smaller and smaller paychecks.Unexpected expenses, such as an expensive medical bill,can cripple even the most meticulously planned budget.

The short term or "payday" loan industry takes full advantage of this. On top of that, job security is not what it used to be and anyone at any time could find him or herself unemployed. Suddenly that paycheck you were banking on to pay back that loan you took out to make it to the end of the month isn't there. That, sir, is neither stupidity nor a criminal act. It is just a fact of life in this day and age.

"... However,they have heard it all before and have to use whatever strong arm tactics are available to them to collect the money due them from deadbeats. They do have laws to abide by..."

You're right in that there are laws designed to protect people from debt collectors...it's called the Fair Credit and Debt Collection Act, and it's Federal law. They are not allowed to "use whatever strongarm tactics are available to them." Specifically,debt collectors are not allowed to issue threats, especially
empty threats, such as threatening prosecution of fraud. Furthermore, they are never, and I mean never, allowed to use abusive language or tactics. Mycashnow.com is notorious for this, which I find amazingly hypocritical for a "Christian" organization.

To those of you who have been victimized, my heart goes out to you in your time of need. I know things are hard and I know how furious and helpless you feel every time you have to get on the phone with these loan sharks. You are not helpless, however. Report them to the FTC and the Department of Justice. I did, three years ago when I had my own troubles with mycashnow.com. If every single person who has been bullied, and threatened, and harassed by mycashnow.com would file a complaint with at least the FTC, the government would have to step in and shut the vultures down.

To anyone else reading this who is thinking about getting a short term loan with this or any of the other numerous similar companies, please do not do it. It is not worth it and it will only make your financial situation worse. 485% interest on any amount of cash is insane!

Robert:

I just had to respond to you because your post makes me quite angry. With that in mind, I have selected a few comments out of your post and will address each separately:

"If you applied and accepted a payday loan and did not have the available funds to pay back the loan when due, you have indeed commited fraud, by issuing a bad check without the intention of paying your loan per your signed agreement and should be imprisoned."

Do you really think that most people apply for payday loans, or any other loans for that matter, without the intent to pay it back? People cannot be charged with fraud for being unable to pay a debt. Even if you want to go the "bad check" route, you would have to prove that the person writing the check knew that he would not have the funds available for that check to clear, and it usually has to be more than one check. Otherwise, any person who has ever had a single check bounce would be in jail!

"Quit your bitchin' and screaming about being a victim. You are the victim of your own stupidity."

These people are victims of a usurious and unscrupulous loan industry that preys on the middle class and the working poor. There is another term for what these people do and it's called "loan sharking." It used to be illegal, however it seems the restrictions have loosened up quite a bit in the last little while, and with the recently passed bankruptcy bill, those restrictions have gotten looser still.

The cost of living has sharply increased lately but without the rise in wages that usually accompanies it. People find themselves struggling to make ends meet on smaller and smaller paychecks.Unexpected expenses, such as an expensive medical bill,can cripple even the most meticulously planned budget.

The short term or "payday" loan industry takes full advantage of this. On top of that, job security is not what it used to be and anyone at any time could find him or herself unemployed. Suddenly that paycheck you were banking on to pay back that loan you took out to make it to the end of the month isn't there. That, sir, is neither stupidity nor a criminal act. It is just a fact of life in this day and age.

"... However,they have heard it all before and have to use whatever strong arm tactics are available to them to collect the money due them from deadbeats. They do have laws to abide by..."

You're right in that there are laws designed to protect people from debt collectors...it's called the Fair Credit and Debt Collection Act, and it's Federal law. They are not allowed to "use whatever strongarm tactics are available to them." Specifically,debt collectors are not allowed to issue threats, especially
empty threats, such as threatening prosecution of fraud. Furthermore, they are never, and I mean never, allowed to use abusive language or tactics. Mycashnow.com is notorious for this, which I find amazingly hypocritical for a "Christian" organization.

To those of you who have been victimized, my heart goes out to you in your time of need. I know things are hard and I know how furious and helpless you feel every time you have to get on the phone with these loan sharks. You are not helpless, however. Report them to the FTC and the Department of Justice. I did, three years ago when I had my own troubles with mycashnow.com. If every single person who has been bullied, and threatened, and harassed by mycashnow.com would file a complaint with at least the FTC, the government would have to step in and shut the vultures down.

To anyone else reading this who is thinking about getting a short term loan with this or any of the other numerous similar companies, please do not do it. It is not worth it and it will only make your financial situation worse. 485% interest on any amount of cash is insane!

Christ, I don't understand why people are all worried about these d**n payday lenders.

It's like free money. How is that a problem to society?

Here's how it works. They put the loan in your bank account. First thing you do is close the account.

If they call you on the phone bitchin', you set the phone down and walk away. Yeah, whatever, mr cash now.

If you always set the phone down and never talk, they'll get sick and tired of wasting their time and stop calling you.

Would you keep calling if you always ended up talking to the coffee table or the night stand?

If they send s**t in the mail, you turn it over and use the blank side on the back to make a grocery list.

I use bills as scrap writing paper. I never have to buy tablets. All my paper comes in the mail for free. I got enough to last for like the next 10 years.

If they send you lawsuit nonsense, ignore it. Nothing happens. The judge just says you owe the money. Big deal! You already knew that anyway! There's no reason to take off work just to hear that.

They never bother to garnish your paychecks because it costs them too much time and money for the court.

But, if they ever do, just quit. Your boss will tell you BEFORE they take the first payment out. Quit the week before.

Go get another job. It'll take cash now a year to find the new job. Beside, after all that time they will give up and just hassle someone who WILL pay.

These loans are all voluntary. You have to be a complete idiot to pay them back all that money.

You know, I never have a normal job, so they won't loan me a dime. Besides, I always have plenty of money, so I never even though of going in one anyway.

But, that's before I figured out that they were giving away free money. I never knew that before.

So, next year or the year after, if I decide to get a job, you can bet I'll be right down at the closest cash now, getting my free money.

I don't see a problem here. In fact, we need more companies like this that hand out money to poor people.

Bums should be getting jobs for one day so they can get their free cash now.

You people are all doing something wrong. These places are a good thing.

It's like a free lunch. How can you possibly screw that up?

You know, I suggest you stop what you're doing and get down there and get your free cash now. Because if everyone else starts doing that, these guys will run out of money and go out of business and then you won't get nothing.

TO EVERYONE WHO HAS COMPLAINED AND SAID THEY WERE GOING TO SEE "MYCASHNOW" PUT OUT OF BUSINESS? HERE ARE A FEW NOTES FOR YOU ALL.

1) THERE ARE NO USURY LAWS IN NEVADA OR GRENADA SO THEY CAN legally CHARGE ANY INTEREST THEY WANT. YOU SIGNED UP AND GAVE THEM THE RIGHT TO.

2) THEY HAVE AN ARBITRATION AGREEEMENT IN THEIR CONTRACT. YOU cannot SUE THEM IN COURT.
3) THEY ARE NOT A US COMPANY AND FEW LAWS HERE APPLY TO THEM. THE contract IS THE LAW IN THIS CASE.

4) THEY ARE NOT LEGALLY AUTHORIZED TO DO BUSINESS IN ANY STATE. THIS WOULD MAKE THEM COMPLY WITH STATE LAWS. THEY CLAIM TO BE AN OUT OF THE USA CORP, AND THEIR NEVADA OFFICE SIMPLY TAKES THE CASH. EVEN THE NEVADA STATE DEPT OF BANKING HAS YET TO BE ABLE TO TOUCH THEM.

5) A COLLECTION AGENCY IS BOUND BY THE FAIR COLLECTION ACT, NOT THE ACTUAL COMPANY OR PARTY YOU OWE. A COLLECTION AGENCY IS LIMMITED TO THE NUMBER AND WHO THEY CAN CALL. THE COMPANY YOU TOOK OUT THE LOAN WITH (mycashnow) CAN CALL YOU ALL THEY WANT, AND ALL YOUR REFERENCES TOO. YOU CAN"T DO A THING ABOUT IT.

TO EVERYONE WHO HAS COMPLAINED AND SAID THEY WERE GOING TO SEE "MYCASHNOW" PUT OUT OF BUSINESS? HERE ARE A FEW NOTES FOR YOU ALL.

1) THERE ARE NO USURY LAWS IN NEVADA OR GRENADA SO THEY CAN legally CHARGE ANY INTEREST THEY WANT. YOU SIGNED UP AND GAVE THEM THE RIGHT TO.

2) THEY HAVE AN ARBITRATION AGREEEMENT IN THEIR CONTRACT. YOU cannot SUE THEM IN COURT.
3) THEY ARE NOT A US COMPANY AND FEW LAWS HERE APPLY TO THEM. THE contract IS THE LAW IN THIS CASE.

4) THEY ARE NOT LEGALLY AUTHORIZED TO DO BUSINESS IN ANY STATE. THIS WOULD MAKE THEM COMPLY WITH STATE LAWS. THEY CLAIM TO BE AN OUT OF THE USA CORP, AND THEIR NEVADA OFFICE SIMPLY TAKES THE CASH. EVEN THE NEVADA STATE DEPT OF BANKING HAS YET TO BE ABLE TO TOUCH THEM.

5) A COLLECTION AGENCY IS BOUND BY THE FAIR COLLECTION ACT, NOT THE ACTUAL COMPANY OR PARTY YOU OWE. A COLLECTION AGENCY IS LIMMITED TO THE NUMBER AND WHO THEY CAN CALL. THE COMPANY YOU TOOK OUT THE LOAN WITH (mycashnow) CAN CALL YOU ALL THEY WANT, AND ALL YOUR REFERENCES TOO. YOU CAN"T DO A THING ABOUT IT.

TO EVERYONE WHO HAS COMPLAINED AND SAID THEY WERE GOING TO SEE "MYCASHNOW" PUT OUT OF BUSINESS? HERE ARE A FEW NOTES FOR YOU ALL.

1) THERE ARE NO USURY LAWS IN NEVADA OR GRENADA SO THEY CAN legally CHARGE ANY INTEREST THEY WANT. YOU SIGNED UP AND GAVE THEM THE RIGHT TO.

2) THEY HAVE AN ARBITRATION AGREEEMENT IN THEIR CONTRACT. YOU cannot SUE THEM IN COURT.
3) THEY ARE NOT A US COMPANY AND FEW LAWS HERE APPLY TO THEM. THE contract IS THE LAW IN THIS CASE.

4) THEY ARE NOT LEGALLY AUTHORIZED TO DO BUSINESS IN ANY STATE. THIS WOULD MAKE THEM COMPLY WITH STATE LAWS. THEY CLAIM TO BE AN OUT OF THE USA CORP, AND THEIR NEVADA OFFICE SIMPLY TAKES THE CASH. EVEN THE NEVADA STATE DEPT OF BANKING HAS YET TO BE ABLE TO TOUCH THEM.

5) A COLLECTION AGENCY IS BOUND BY THE FAIR COLLECTION ACT, NOT THE ACTUAL COMPANY OR PARTY YOU OWE. A COLLECTION AGENCY IS LIMMITED TO THE NUMBER AND WHO THEY CAN CALL. THE COMPANY YOU TOOK OUT THE LOAN WITH (mycashnow) CAN CALL YOU ALL THEY WANT, AND ALL YOUR REFERENCES TOO. YOU CAN"T DO A THING ABOUT IT.

I personally have completed 3 loans with this company. They do not hide how to pay them back or the amounts you have to pay back. They are not a great idea, but if you are in a jam such as a deductable on a car accident, they do help. If you agree to the terms then you have to follow the rules. People may not like the terms but you did agree when you signed the form. I have never had a problem I follow the terms and no problems happen. Every complaint is always someone not paying back on time or not understanding what they have signed. Blaming the company is not the answer, don't sign the paperwork if you do not like the terms. The company is loaning you money they are not your friend or buddy that will wait. They are in business to make money not friends. If you want options such as not having to pay on time or more time because you don't have the money don't use this type of service. This company only give you 3 extensions not 5 this is on the website. After the 3rd one you must pay 50.00 on the balance plus the fees they charge for the loan. This information is in the questions part of the website. You can find this out before you get the loan.

I was about to apply for a cash loan witht this Company over the internet, and when they asked for my Bank Account Information and a Check Number....{suspicious..)I decided to come to check this Company here at: ripoffreport.com
And guess what!!! I decided not to apply for a loan with this funny company. There is a local company, right at the corner where I live, and would rather apply for a loan there....
Thanks to Ripoffreport.com, you save my life...from now on I will check in here before I decide to do business with anyone.

I have also fell victim to the Payday loan dilema. I was a customer with Mycashnow for a little over a year needing them off and on when problems arrived, and always making my paments on time. Just recently I started having even more serious money problems and I had a few payday loans taken out. My money situation has gotten so bad I decided to see a credit counselor. She is going to help get out of debt and send propasals to my creditors and even my payday loan people. My counselor advised me to close my account so they would not try to take any money from me which I did, knowing I would get return check fees from the companys, so I was prepared for that. I had to give my counselor the phone numbers and addresses to the payday loan places, which I was able to give all but MYCASHNOW. I called the customer service number and asked for their address and they said they couldn't give it to me. I asked why and the girl on the phone said she didn't know the address and they are not allowed to give it out to anybody. She also said their friends and family aren't even allowed to know where they work. By this point I was really confused, why would you work for somebody you dont' even know the address for, what building do you walk into everyday. So then she put me on hold for about 5 minutes then came back and said she was going to transfer me. Next a recording quickly came on and spit out this address really fast and they only repeat the zip code. After my counselor and I called several times to get transfered to this number we pieced together an address that ended up being in vancouver, Brithish Columbia. I'm starting to get more and more suspicious about this company. Then after my payment was sent back to them as returned I get an email, phone call at work and on my cell phone all within 30 minutes from an Ebony at 1-866-645-1661 (we all know that number don't we) I explained to her my financial situation and that I have no money and that my counselor was going to be sending her a proposal along with my payments. Well she informs me they don't except debt program payments, they want payment in full. Well I told her, there is no other option and that I have no money and the only way you will get yours is if you excepts these monthly payments like everybody else. She again said they won't except them and I told her well I guess you won't be getting your money until I hit the lottery. She said since my account is closed I need to send my money through Western Union. So I guess with all this said and all the horrer stories you have read about these company and their crazy fees DO NOT USE THESE LOAN COMPANIES. Trust me it's not worth it. If your cell phone gets cut off for a week or two, learn to deal with it, if your car breaks down, take the bus for a week. These places are nothing but trouble and they eat away at people like myself. But I refuse to let these people get the best of me and I defiantly ain't filing bankrupt. There is help out there you just have to find it, ask family members, people in your community. http://www.nfcc.org is a wonderful place to start, this is how I found my counselor. JUST STAY AWAY FROM THESE PLACES. Remember if they call your job, let them know your EMPLOYER does not allow personal calls.

How do I get in contact with bill hicks? webpage? address? phone number?

thanks

I live in Pennsylvania. These companies are not legal here. To get around this law, the payday loan companies are actually agents for out of State lenders.

I was a banker for years. There is one truism that you must understand. Never lend money to someone who really needs it. Never borrow money to get out of a current problem.

If you need it, you are a bad risk to the bank. If you get, you delay and compound the original problem.

You would be much better off going to your local welfare office seeking an emergency grant. If it isn't an emergency, you shouldn't be getting anywhere near these loan sharks to begin with.

Tough it out for a week or two.

I am an owner of a single loan store, and my customers are generally very grateful to be able to get the money they need to get through an emergency or temporary shortfall. I counsel them, as I would counsel anyone obtaining a loan of ANY kind, to 1) Only borrow the amount you need; 2) Contract ONLY for repayment terms you know you can meet, 3) Budget your income and expenses so you don't need to borrow. 4) If you find yourself unable to fulfill your contract, CALL THE LENDER AND LET THEM KNOW WHAT IS GOING ON. Don't wait for them to call you or refer your account to collections. Most of them willwork with you to set up a payment plan as its less expensive for you and them both. Think of it this way - What if it was MY money that I had lent out? What would I do???

Don't blame the lender (credit card, payday lender, bank, auto finance, etc.) because you wanted more money than you could afford, or were willing to repay. If you treat your finances as your responsbility - which they are - your lenders will treat you as a valued customer and with respect. If you treat your loans as handouts, you don't leave your lenders with many alternatives except to use collections agencies or litigation.

Before anyone accusses me of working for a payday loan company, I do not. Nor do I work for a collections company.

I have used quick loan services within the past several months having taken three payday loans over the course of that time.

On one occasion, due to an error on my employers part, my direct deposit did not get credited to my account on the day my last loan payment was due and the debit was bounced. I had contacted the payday loan company to inform them (they were not aware of the returned debit yet) and make payment arrangements. After speaking with a collections representative (who was very respectful and appreciative that I contacted them concerning the returned payment)arrangements for the initial payment and fees for the returned debit were made and the loan paid off. I offered them no reason or long winded tale of woe for why the payment bounced (they have heard it all before). My loan documentation stated that if for ANY reason my debit payment is returned, certain fees will be assesed.

All the fees and interest rates are disclosed in your loan agreements. Read before you sign and fax anything.

You have defaulted on your signed agreement. There is no one to blame but yourselves.

If you applied and accepted a payday loan and did not have the available funds to pay back the loan when due, you have indeed commited fraud, by issuing a bad check without the intention of paying your loan per your signed agreement and should be imprisoned. Quit your bitchin' and screaming about being a victim. You are the victim of your own stupidity.

I do feel badly about some of the treatment all have received at the hands of collection agents. However, they have heard it all before and have to use whatever strong arm tactics are available to them to collect the money due them from deadbeats. They do have laws to abide by. Become informed and you can call them on their abusive behavior when they have gone beyond what the law allows.

And again, read the entire contract before you sign anything. It is your only defense.

In response to some comments posted above:

1) While it's true that collection agencies are not allowed to threaten a lawsuit against you, they are of course able on behalf of the creditor to actually DO it. So don't hope these problems will just go away by themselves. Sometimes, of course, these rip-off companies won't sue you, but other times, they might.

2) Mycashnow.com, they of the ridiculous 485 percept interest fees (!!!) are a part of Credit Report Services, Inc., 4700 Rossville Blvd, Chattanooga, TN, 37407. As far as I can see, they are incorporated in TN.

Believe it or not, they are a member of the Better Business Bureau! (Or they were at one time.) What a joke.

I was in a similar situation with collection agencies and here is what I can tell you. It is illegal for them to threaten to take you to court. You can download and send them a cease communication letter that will prevent them from contacting you. Don't plead bankruptcy and don't send a dime. If you want additional info look up a man by the name of Bill Hicks on yahoo. He has his own website and is an angel! He helps everyone and seriously is just a great guy. He saved me so much money. The one thing to remember is all the collection agencies have going for them is to threaten, lie and invoke fear. When you take that power away and hold your ground they run away.

Not paying that loan was NOT FRAUD and it's a civil matter not a criminal matter. So, don't lose sleep!

Bree Walker is a real piece of work. You can call her at 877-324-3666. She refuses to take any information that I try to give her. She only insists that I pay her. She even contacted my manager. She is causing a hostil work environment for me....what should I do?

Paul - although your idea seems attractive at first, you must know that these payday companies somehow work together so that they are able to know how many loans a person has applied for and they do not allow multiple loans to the extent that it will lead to their detriment. I believe alot of them work as franchises in this regard, and share information regarding consumers who take loans out with them. They all use the customer's social security number as account numbers for these "loans"...

Paul - although your idea seems attractive at first, you must know that these payday companies somehow work together so that they are able to know how many loans a person has applied for and they do not allow multiple loans to the extent that it will lead to their detriment. I believe alot of them work as franchises in this regard, and share information regarding consumers who take loans out with them. They all use the customer's social security number as account numbers for these "loans"...

Paul - although your idea seems attractive at first, you must know that these payday companies somehow work together so that they are able to know how many loans a person has applied for and they do not allow multiple loans to the extent that it will lead to their detriment. I believe alot of them work as franchises in this regard, and share information regarding consumers who take loans out with them. They all use the customer's social security number as account numbers for these "loans"...

Paul - although your idea seems attractive at first, you must know that these payday companies somehow work together so that they are able to know how many loans a person has applied for and they do not allow multiple loans to the extent that it will lead to their detriment. I believe alot of them work as franchises in this regard, and share information regarding consumers who take loans out with them. They all use the customer's social security number as account numbers for these "loans"...

Would you have sex with a street w***e without using protection? Of course not!

It's the same thing here. You already know these places will tap into your bank account and then clean it out.

So what do you do? First, you get the maximum loan possible. The full $500 if not more. A smart person would go to ten different companies, all on the same day. Then, as soon as the money hits your bank, you take it all out and close the account.

That way, if you can't pay the loans back, it won't really matter.

You know what they say, a fool and their money are soon parted.

When cash now calls, let them know how foolish they were to invest in someone like you in the first place.

You know, I had no idea that these idiots were giving away $500. Normally, I don't go out looking for loans. But, since these idiots are giving the money away...

Let's see, at $500 each, I'd need just 200 locations in order to get that new Ferrari.

This payday thing could really pay off. d**n, you learn something new everyday!

Some advice for people who are already involved with payday companies such as "My Cash Now", be sure to verify what state laws may exist to protect you against their loan-sharking practices. Depending on which state you live in, you may be protected from these companies by your state's particular usury laws. Also, report your problems with these companies to your state's attorney general. Do NOT give into them without knowing your rights, and without fighting them. In many instances, these companies are not legitimate and are operating in violation of various state and federal laws.

Many of these companies use scare tactics on their customers who have difficulty with repayment, such as contacting the customer's employer (which is harassment), threatening the customer with legal action - REMEMBER - if the company is not a legitimate firm to begin with, they will not have a leg to stand on legally. For example, "My Cash Now" is not even incorporated in the state they are located in - Tennessee - this in itself is a violation of Tennessee laws and most likely they do not pay taxes to the IRS.
KNOW YOUR RIGHTS AND DO NOT BE INTIMIDATED BY THEIR CRIMINAL TACTICS.

Some advice for people who are already involved with payday companies such as "My Cash Now", be sure to verify what state laws may exist to protect you against their loan-sharking practices. Depending on which state you live in, you may be protected from these companies by your state's particular usury laws. Also, report your problems with these companies to your state's attorney general. Do NOT give into them without knowing your rights, and without fighting them. In many instances, these companies are not legitimate and are operating in violation of various state and federal laws.

Many of these companies use scare tactics on their customers who have difficulty with repayment, such as contacting the customer's employer (which is harassment), threatening the customer with legal action - REMEMBER - if the company is not a legitimate firm to begin with, they will not have a leg to stand on legally. For example, "My Cash Now" is not even incorporated in the state they are located in - Tennessee - this in itself is a violation of Tennessee laws and most likely they do not pay taxes to the IRS.
KNOW YOUR RIGHTS AND DO NOT BE INTIMIDATED BY THEIR CRIMINAL TACTICS.

Some advice for people who are already involved with payday companies such as "My Cash Now", be sure to verify what state laws may exist to protect you against their loan-sharking practices. Depending on which state you live in, you may be protected from these companies by your state's particular usury laws. Also, report your problems with these companies to your state's attorney general. Do NOT give into them without knowing your rights, and without fighting them. In many instances, these companies are not legitimate and are operating in violation of various state and federal laws.

Many of these companies use scare tactics on their customers who have difficulty with repayment, such as contacting the customer's employer (which is harassment), threatening the customer with legal action - REMEMBER - if the company is not a legitimate firm to begin with, they will not have a leg to stand on legally. For example, "My Cash Now" is not even incorporated in the state they are located in - Tennessee - this in itself is a violation of Tennessee laws and most likely they do not pay taxes to the IRS.
KNOW YOUR RIGHTS AND DO NOT BE INTIMIDATED BY THEIR CRIMINAL TACTICS.

These payday loan type operations are a HUGE ripoff. On their signs, at the shops, they post an interest rate of 400%+++++++ but by the time you get done adding in fees and "service" charges it may come out to as high as 1000%. People stay away from these places. If you are in the frying pan, you'll end up in the fire. If after all is said and done and you are unable to make a payment, they'll deposit your check, if it comes back NSF, they'll turn it over to the district attorney and prosecute you for bad check writting.

I would just like to offer the information that the company known as "MY CASH NOW" is located in Chattanooga, Tennessee. When you call their phone number, they will tell you they are located in Grenada, and that they maintain an office in Carson City, Nevada. This information is a lie. The company is located in Chattanooga, Tennessee, and its local phone number is 423-867-8006.

I have also been demonized by Mycashnow.com I was having a problem with my bank account so I called them and told them not to put the payment through but they said was too late. Well they kept puting it through over and over and over until my bank account was so screwed up I didn't know what to do.

I ended up going to another bank but I didn't tell them that. I wasn't giving them access to nothing. Well I've been receiving calls from Rebecca also. My $300 loan is now $800.00 I sent her one payment of $211 because she threathened to go to my employer and report me to the State Attorney for bad checks and I really dont need that hassle.

I am so financially in debt right now I can't stand it and I really can't afford to send them $200 every two weeks. Maybe if she's lucky I'll send her $50.00. Isn't there a law that as long as you send them something they can't complain?

Back near the end of December, I took out a $500.00 loan from mycashnow. Come two weeks, I didn't have the money to repay so I agreed to have them extend it. Well..my wife then lost her job and so I was in a bind.

I called them and told them I could not repay the whole amount right away and for them to stop taking money out of my checking account. Well, they continued to try to debit funds out of my account every two weeks, only there was no money; every time afterwards they would tack on extra fees.

Well it came to where they claimed I owed several hundred dollars. I sent them a hundred dollars after speaking with the collection person Rebecca Edwards. Ms. Edwards then told me she would close my account after I make my next payment of $450.00. Well, after I made my payment I left her a message and she called my home the next day saying that I had until the end of the month to pay the remaining amount I owed or she would take legal action against me! So, this woman outright lied to me! Further, she added more fees onto the amount. Luckily, she was stupid enough to leave personal messages on the voicemail containing personal information, of which everyone in the household could hear.

This monday, I'm going to the courthouse to file a civil suit against them for violation of the privacy act. She also left threatening messages too, which is also a violation of the act as well. I hope she reads this. If you are outraged by her coduct, feel free to contact her at 1-866-545-1661 and let her know that we're onto to their scamming games!

I APPLIED FOR A PAYDAY LOAN FROM FASTCASH. I LOOKED THEM UP IN MY PHONE BOOK HERE IN TAMPA, FLORIDA, I CALLED THEM AND THEY SAID I WAS ELIGIBLE FOR UP TO $500.00.

WELL, I WAS NOT IN NEED OF QUITE THAT MUCH, BUT I ENDED UP GETTING $150.00 LOAN, I received loan about 3 days later after faxing them my life histoy....and so on.

I told them i only got paid every 2 weeks and at that time i would try to refinance the loan, well someone called me at work to ask me if i would like to this, about 2 days before it was due.

Well, I went ahead and decided to let them take it out, lord nows if i would need it again. Well, a couple weeks laterI needed ome help. I asked for another and they said they did not have any proof that the last one went through, i faxed them my bank statement and a letter from the bank, they still would not approve me, The following week(my pay week) on a Monday i called my bank and there was$225.00 in my account, bu they turned around and took it out on Friday, when they knew I got paid every 2 weeks, knowing I would not have the money in this week.

It created the "domino"effect and still to this day I am -$530.00 in my account because of this. Fast cash is the biggest pile of crap, they suck.Hope you go out of business real soon!!!!!!!

I'm so sorry to hear of what this trap did to you. north Carolina's now fighting to get this disgraceful form of legal loansharking out of the state.

Since you're already in over your head, a chapter 7 bankruptcy may be your best course of action. Don't send these creditors a nickel until you get a free (almost always free) consultation with a bankruptcy attorney.

The chapter 7 will wipe away most debts and give you a fresh start. It will, however, stay on your credit report for 10 years.

May God be with you.