WHY CHOOSE ICASHLOANS ? : When you need cash quickly you want to work with a service that is reliable and experienced in the payday loan industry - iCashLoans is both. We pride ourselves on connecting our customers with the best payday lenders to meet their needs. Why waste time visiting dozens of websites trying to figure out which lender will serve you best? iCashLoans is the only site that you need to visit when you’re looking for a fast, secure payday loan.

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About Us:

Our services are designed to help you find a reputable payday lender to work with. iCashLoans has a large number of lenders in our network, and we are confident that we can assist you in obtaining the best payday loan to meet your needs. Everyone hits a rough patch financially at some point, and payday loans are a great solution for short-term cash flow problems. You don’t have to worry about how you are going to pay an unexpected bill, or cover an emergency expense, between pay checks - iCashLoans is your source for finding payday loans. Using iCashLoans is 100% free to you - we do not charge any fees for our services. When you use iCashLoans you will save time and money. All you have to do is provide us with basic information and we will instantly search our network of lenders to find you the loan that meets your needs. At iCashLoans we pride ourselves on working with lenders that are fair and honest in their lending practices. Our main goal is to provide you with a great experience when searching for a payday lender. All lenders in our network are required by law to follow all of the rules and regulations related to payday lending. Don’t drive around town to visit payday loan shops, and forget about looking at website after website trying to find a loan with fair terms. iCashLoans is the only place you need to go to find a payday loan. We will search our vast netowrk of lenders instantaneously to find you the loan that you are looking for.

Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

Saturday, September 14, 2013

Another Example Of Predatory Payday Loan Collections, Or Is It?

Another Example Of Predatory Payday Loan Collections, Or Is It?
Expert Author Holly Petherbridge
The news reports are that people are going to jail for unpaid payday loans debt when it is actually for not following the orders of a judge. The story unfolds with multiple tales of people going to jail for unpaid debt. The focus of course is targeted at the payday loan industry. When debt is defaulted upon, the creditor has the right to pursue legal action in the attempt to get paid.

A creditor will inform a debtor that legal action will be pursued. A creditor has the full right to attempt to gain a civil judgment to regain funds. The debtor will receive a date and time to appear before the judge. This is the piece that many ignore or forget, this request to appear is not made by the creditor but by the judge.

When you skip this appointment, the judge will automatically rule in the creditor's favor. The defendant will be charged to repay all debt plus court costs and service fees. Once this fine has been imposed, the creditor can call the debtor to an "examination" in civil court. They will be asked about bank accounts and any other assets which the creditor may seize for payment. If the debtor does not show up, the creditor can then request that the court ask for a "body attachment". This is when there is an order of arrest is placed upon the debtor. It is termed modern day debtors prison. Those people who have little knowledge of how the court systems work will find them trapped in legal ways to squeeze money from them. Payday loan creditors may follow all legal recourse to obtain payment in full.Illegal debt collections are forbidden by any creditor. There are some states which do not allow "debtor's prison", but the St. Louis area on both sides of the Mississippi River, this practice happens on a regular basis. According to Missouri Bill of Rights, their constitution states that nobody can be imprisoned for debt except if the fines and penalties are issued by law.

There are times that the court system does not let the problem end with debtor's prison. Sometimes the courts summons the debtor to court repeatedly as the creditor is hoping that one of the dates will be missed. Often a judge will set the release bond for the amount owed to the creditor then turn the money over to pay for the debt. The courts and police end up being debt collectors for the lenders. Tax money is being spent and the lenders are labeled predatory even though they are following the law.

When the state government sets rules and regulations in place, as well as have their constitution condone practices, it would depend on which side of the line you are standing on to state an opinion. Here are the two opposing opinions:

*These predatory lenders are taking advantage of the law to collect money from people in a financial mess. It is a legal way to threaten jail time in order to collect money. The Fair Debt Collections and Practices Act protect people from such threats and this method is just manipulation of the courts.

*Those who do not sympathize with the debtors have two rebuttals. One being that if you don't have the money to pay back the loan, then there is no reason to obtain a loan. The second being, if a judge orders you to go to court, you need to show up. The debtor's prison is only applied to those who do not show up.

The arrest often gets the debt paid. The bonds, which are set by the judge, get used to repay the fees. The amount of debtors who actually go to jail is a small percentage of those who get have civil judgments against them. For those who end up in jail, it is a sad story, but preventable.

Spotya! Payday Loans does not advocate using a payday loan for just any type of spending. Our loans are meant to be short-term being paid off with the borrower's next paycheck.


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