0
Generally, payday loan companies will have different net income criteria, but there are definitely ones with limits as low as $334.00 per pay period. The loaning limits are usually set by a percentage of your net, between 30% and 50%. On a net income of $800.00 you could probably find a payday loan for between 2 and 4 hundred dollars.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Are payday loans effective?
Payday loans can be very effective for someone who needs cash in a hurry or in an emergency situation. With a payday loan you can get the funds you need within 24 hours in most cases. But please understand, payday loans are not ment to be a long term thing and it's in your best interest to pay them back within the terms you secured the loan under, in order to avoid additional fees. Payday Loans are very effective it gives you within 24 hours approval in that case the persons cover the expenses in case of an emergency. when there is no other money available to cover bills and expenses that need to be paid before the next paycheck is received. Payday Loans are short term loans with high interest rates used to get immediate cash. Payday loans are effective only if you want to get out of financial problems on temporary basis.
What are the laws in Texas on payday loans?
Lenders in Texas must operate under CSO (Credit service Organization). Loan amounts on CSO loans can up to 1800 dollars. There is (sadly) no APR cap on the loans, some lenders charge upwards of 1000% apr. Regarding debt collection - In Texas having an unpaid payday debt is a civil (not criminal) matter and most companies will not pursue legal action unless its a higher dollar amount loan.
Where can you get fast cash loans in MA?
It important to consider the high level of government regulation when looking for fast cash loans in Massachusetts. While it may not be illegal there, it is under strict legal consideration. There are several directory websites that recommend local and online payday loaners for Massachusetts.
Can you include payday loans in Chapter 7 bankruptcy in California and if so how long do the loan have to be in default becfore you can include it?
yes you can aslong as it 's under $1150.00 if over need to wait 60 day !@!@!!
What is the law if you do not pay your payday loan?
The payday lender will initiate legal collections processes (under the FDCPA) and make all attempts to collect the debt. If after all collection efforts complete the borrower has not paid, the lender may sue them in civil court to recover their monies (plus any costs associated with the collection process). Because payday loans are low, many lenders just writeoff the amount and don't pursue legal recourse. Legally, one cannot be arrested for not paying a payday loan UNLESS the loan was acquired under fraudulent means.
Is there a place on the internet where I can print out information on the dangers of payday loans?
Payday loans come under the heading of "predatory lending." There are interesting articles at http://www.texpirg.org/financial-privacy-security/predatory-lending AND www.responsiblelending.org/consumers/ You can go to . The article advices on the dangers of payday loans.
Where can I find cheap payday loans?
Payday loans are pretty good to get money quickly. You can get one from any Rent To Own company, or you can look in the phone book under Cash Advance in the yellow pages.
Are payday loans effective?
Payday loans can be very effective for someone who needs cash in a hurry or in an emergency situation. With a payday loan you can get the funds you need within 24 hours in most cases. But please understand, payday loans are not ment to be a long term thing and it's in your best interest to pay them back within the terms you secured the loan under, in order to avoid additional fees. Payday Loans are very effective it gives you within 24 hours approval in that case the persons cover the expenses in case of an emergency. when there is no other money available to cover bills and expenses that need to be paid before the next paycheck is received. Payday Loans are short term loans with high interest rates used to get immediate cash. Payday loans are effective only if you want to get out of financial problems on temporary basis.
Where can I find small payday loans?
Small payday loans are something that is easy to get. They are given out at most Rent To Own stores, for the most part. Sometimes you can get them at pawn shops as well, they should be easy to find in the phone book under cash advance.
How is interest on loans income treated in the books of a bank?
As long as the loan account is under standard category, the interest on such loan is treated as income, as the sub standard loan accounts does not earn interest and hence, the interest on such loans can not be considered as income
What is the interest rate on bad credit payday loans through Cash America in Arlington, Texas?
The interest rate on bad credit payday loans through in Arlington, Texas is 25 % higher than someone with good credit. Plus the time to pay back loan is under a 6 months compared to someone with good credit.
What kinds of criticism have payday loan companies attracted?
Payday Loan and Payday Advance companies have come under a great deal of criticism. One of the biggest criticisms they have received is the high amount of interest charged on the loans. These high-interest loans make it difficult for an individual to pay back the loan. Additionally, many individuals have been forced to use more than one payday loan company to make ends meet. When this happens, the individuals usually end up owing hundreds of dollars in interest fees.
What are the laws in Texas on payday loans?
Lenders in Texas must operate under CSO (Credit service Organization). Loan amounts on CSO loans can up to 1800 dollars. There is (sadly) no APR cap on the loans, some lenders charge upwards of 1000% apr. Regarding debt collection - In Texas having an unpaid payday debt is a civil (not criminal) matter and most companies will not pursue legal action unless its a higher dollar amount loan.
Can payday lenders press fraud charges for defauted payday loans?
You can't be charged with fraud on payday loans. They are considered bad debt. There are several payday loans online that are not licensed to lend in certain states. This is a typical threat from the lenders. They think if they threaten criminal prosecution, people will pay their rediculous charges above what you owe. Don't let them intimidate you. Set up a budget and pay what you can toward each one. You can consolidate your payday loans through Town & Country Acceptance. If you register, I will be happy to give you their information. They work very well with the lenders and they don't take any crap off of any of them.
Where can you get fast cash loans in MA?
It important to consider the high level of government regulation when looking for fast cash loans in Massachusetts. While it may not be illegal there, it is under strict legal consideration. There are several directory websites that recommend local and online payday loaners for Massachusetts.
Can you include payday loans in Chapter 7 bankruptcy in California and if so how long do the loan have to be in default becfore you can include it?
yes you can aslong as it 's under $1150.00 if over need to wait 60 day !@!@!!
What is the law if you do not pay your payday loan?
The payday lender will initiate legal collections processes (under the FDCPA) and make all attempts to collect the debt. If after all collection efforts complete the borrower has not paid, the lender may sue them in civil court to recover their monies (plus any costs associated with the collection process). Because payday loans are low, many lenders just writeoff the amount and don't pursue legal recourse. Legally, one cannot be arrested for not paying a payday loan UNLESS the loan was acquired under fraudulent means.
