Payday loans are every where now, in malls, on the Internet, in shopping centers, why has payday loans become so big? It’s just another way to get in debt and never get out. You borrow hundreds of dollars only to be charge $30 and over for borrowing that money. Isn’t that just another form of loan sharking? I don’t understand why people get that hard up for money that they borrow from these types of business. When you fill out an application for a payday loan the business calls and harasses you on your job to get the loan, calling your boss and payroll to make sure you really work there in turn you receive complaints from your boss that you are receive telemarketing calls while at work but you can’t fill out an application without reveling your work number. Why are they allowed to call your job so many times. I applied for a loan once through and gave them my work number because your required to do so but this Payday loan service said that they would not contact my employer so I gave them my work phone number but I changed my mine because I didn’t want to have to pay $50 for borrowing $200 but I gave them my work number only to find out that not only did they call my employer but they called everyday for the next two weeks asking me to still consider loaning from them even though I clearly said I was no longer interested in loaning from their establishment.
I finally had to contact the BBB (Better Business Bureau) because not only did they still call me they took three payments of $49.95 out of my bank account claiming that they were looking for one of their lenders to lend me the money and that I was charged for their services. Not once did I read that I would be charged for just applying for a payday loan. Since when does just applying for a payday loan cost you money? The BBB contacted payday loan service both through emails and certified letter asking them to reimburse the money they unlawfully took out of my bank account. The BBB later contacted me that the certified letter was signed for but they didn’t get replies from the emails or the certified letter and now they wouldn’t answer their phone calls. I later found out that has had 94 complaints since this firm ‘s BBB file was opened in January of 2005. I have listed the complaints below from the report I got from the BBB in the mail:

Complaints Concerned
Advertising Issues: 4
Outcome of all complaints-
Resolved: 1
No Response: 3

Sales Practice Issues: 7
Outcome of all complaint-
No Response: 7

Delivery Issues: 1
Outcome of all complaint-
No Response: 1

Service Issues: 13
Outcome of all complaints-
No Response: 13

Refund or Exchange Issues: 53
Outcome of all complaints-
Resolved: 1
No Response:52

Billing or Collection Issues: 16
Outcome of all complaints-
No Response: 16

On November 9, 2005 the Bureau verified that complaints were being received by this company via certified mail.
As of March26, 2007 certified mail is being returned signed.

The BBB then encouraged me to further pursue the issue through either My local Attorney General’s Office or Consumer Protection Unit or Federal Trade Commission at, so I wrote to the Federal Trade Commission on their website and explained my ordeal to them and I received a letter three days later stating that they were looking further into the situation and would let me know their outcome. I felt like a victim of fraud and it was starting to look like I would not be able to get my money back but I will wait and see what the Federal Trade Commission replies back to me. I chose to write this article so that what happened to me and other people through the Loan company does not happen to someone else looking for financial help and only get more debt in the process.

It’s your right as a consumer to look into these payday loan company’s through the BBB so that you do not become a victim of fraud. If it is a reputable payday loan business they will be in good standings with the BBB if they do not have the BBBOnline Reliability Program stamp on it then don’t apply for a loan through that company you don’t want to become another victim with no way of recovery your loses because the company chooses to hide behind it’s illegal practices and still robbing from hard working people who are vulnerable because of some financial difficulties and hardships. Just be careful who you decide to give your personal information to and check their standings in the BBB that is your right as a Consumer.