I work for a payday loan company have for a year now. I am also former collections agent and have been in sales. I know both sides of the street you may say. Everyday I hear how not to use pay-day loans, that they are illegal and they rip you off. I am not saying that some place may not operate to U.S. government standers, but chances are they are not from the U.S.
Pay-day loans are used everyday. Mostly by everyday people who don't have access to funds $100-$1500 stashed under there socks where the wife cant find. And these people need the loans to help keep them afloat to the next pay date.
People who talk about these companies usually did not read the agreement, and a now mad because they have paid more then what they wanted to. Well sorry when you wanted the $300 you borrowed and not one else wanted to give it to u they did. I am sorry you did not read the agreement you signed, But that is a poor excuses because that is something you have plenty of time to do before to click that little button that says "i agree" .
Now I do understand how some people feel when it comes to these pay-day loan companies not from the U.S. that is why i recommend while speaking to a rep from the company ask simple questions and get info like:
Where is you company based out of?
What is your website address?
With those 3 simple things your can easily ID a company or even try whitepages.com, 411.com you can simply do a reverse phone number look up there.
For the company located out side to U.S. I recommend seeing how legal it is for them to claim on a debt. You may want to check with you State and see if the have a State license to issue payday loans. Also check FDCPA and see if they can be valid debts if not speak to an attorney if they are calling you.
But on closing not all payday loan companies or cash advance companies are bad they are just trying to help people out who cant get a loan in the economy we have now. Everyone gets them I have seen Lawyers , Doctor , Fast Food workers, even Me!!! I know what they I still need help from time to time...
P.S. on another note my mother has to use these often she is a school teacher of 30yr who was told she would never walk again but has proven doctors wrong, they say teachers our the best customer in this business. I think something is wrong with that personal not on the payday loan side but on our government side.... Really someone who has been teaching for 30yr last few out of a scooter and about 20yr ago from a wheelchair walked pretty damn well in between!!.. she has 24hr over a master degree and she is so happy that she finally made it to 50k a year.. A kid who grads now with a BS is making close to that. Where would he be with out my mom or some one like her