Run from Payday loan
By kingparker
@kingparker (9673)
United States
March 27, 2010 12:02am CST
On a radio today, a lady borrowed $200 from an online payday loan service. That lady make a first payment for $120; and she skip the second payment. After a month later she is about to pay it off the rest of the owe, she discovered that her loan interest rate gone up to 500%, which is ridiculous. Even though she try to contact her local state government for help, they couldn't give her any specific answer. Later on, her interest gone up even to 2,000%. And the payday loan agreement even threaten to garnish her wage if she couldn't pay them off in time. What a big scam! So, for everyone who read this post, never ever borrow any money from payday loan service. They will drain your money to the bottom.
1 person likes this
3 responses
@lelin1123 (15594)
• Puerto Rico
5 Apr 10
I don't know why anyone would get involved with these crooks my daughter and her husband did this once and got screwed big time. They are like the mafia to me I wish people would go on TV to tell others to stay away from this loansharks because that is what they really are and it should be illegal. Don't do it even if you are desperate its just not worth it in the end.
