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.

Cash Loans: "We Search 100+ Lenders Money in Your Account Next Day"

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.

Tuesday, October 1, 2013

Payday Loan Debt: The Modern Day Loan Sharks

Payday Loan Debt: The Modern Day Loan Sharks
When talking about lenders that are truly predatory, a product that quickly comes to mind is Pay Day loans. These loans are designed to lend money to potential customers that are running a little short on cash until there next pay day. The qualifications for these loans are as follows,

1. Must have a open checking account 
2. Must be employed for at least 180 days 
3. Must be 18 years of age 
4. Must get direct deposit 
5. Must have at least 3 references

No credit check is needed and the loans are advertised and market in low income communities. The interest rates on these loans can range but for the most part they can be upwards of 75% on the dollar. For example, a potential customer will walk into a store and get a loan for $300.00 dollars. This loan will cost him $85.00 dollars. This amount must be paid in full by the potential customer next pay date. The total cost that is due is $385.00 this amount will be taken from the customer checking account. It will be electronically withdrawn on the pay date that was provided by payday lender. Collection on the loans is normally within the same week the customer has borrowed it. Keep in mind if you took a payday loan out on Monday Feb 1, 2010 for $300.00 then on Friday Feb 6, 2010 $385.00 is due.

Nevertheless, the lender is counting on, you to still need the originally amount of money you required. Which is the $300.00 dollars, if notified by the lender 24 hours before loan is due the lender will reinstate your original loan of $300.00 dollars with you just paying the $85.00 loan fee. This can continue as many times as the lender needs it. The sad part about this type of lending is, the market targets the poor and disenfranchised. One loan will take the average poverty stricken home 6 times browning the same $300.00 loan with an $85.00 reinstatement fee before it's paid in full. The lender on average will pay back $510.00 dollars in reinstatement fees before it pays back the original balance of $300.00 dollars. This will cost a poor family about $810.00 for a $300.00 dollar loan. This type of dollar amount can cripple a family that is under the poverty line to begin with.

Furthermore, in many states this in not allowed. Pay Day Loan Debt have become a concern of the United States Congress. Laws are currently being passed to regulate this type of lending to the poor. There are many states that don't allow this particular lending at all. There is public safety warning along with Loan Consolidation programs to address this type of exploitation of the disenfranchised.

In addition, more 1 billion dollars in profit last year alone in Pay Day Lending, while many of their customers lost everything trying to pay back one loan. Often the desperation of the lender drives them to take additional loans from other Pay Day Lending institution to pay back one loan, which starts a spiral effect. This affects families and communities. Pay Day Lender have no regards for the customers in which they lend to, Pay day lenders are truly the Modern Day Loan Sharks.

For more great information on Eliminating Pay Day Loan Debt and the Free Mini-Guide! "Five Secret Words to Ending Harassment," please visit


Post a Comment