NOTE: Below is a letter we received, via e-mail, from a resident of South Carolina who was recently spurned by a payday loan company. He believes he was the victim of false advertising, and wants to have his opinion heard.
If you have a story or viewpoint you would like to share with the Payday Loan Times and its growing number of daily readers, please use the Contact Us form and share it. Vulgarity, dishonesty or personal attacks aside, nothing is off limits at the Times.
Let me start off by saying that I do not believe the payday loan industry in general is quote unqoute [sic] evil. I am not an activist nor do I feel that most payday loan companies treat people unfairly. However, I do believe that a growing number of online sites take advantage of borrowers through false advertisements.
I don't like to, no one does, but there are a couple stores in my town and they have always been up front with me about all the fees. I know what I am getting into.
I've probably gone 5-6 times total over the past three years, not a lot really when you think about it. My experience has been good up until this year when I applied for a payday loan online.
I wanted to save time and keep this private so I though [sic] I would try to get a loan online. What happened really, really makes me mad. First I filled out a form and heard nothing from the payday loan company. After 6 hours I tried again, then was told when the representative DID contact me that I had to fax in my application.
The ad on the site said faxless payday loans! These sites don't even tell you key pieces of information like, oh, you might need to fax in your info after all. I could not believe it but this actually happened to me.
I don't have a fax machine at home. Never have. Got no use for one. Had I know [sic] that I was going to have to do this I would have just gone to the payday loan store like I have in the past. All in all I could not get my cash until the following morning so this cost me at least 12 hours, not to mention some head aches.
I'm sorry, but when you need a personal loan like this, you are strapped. I don't want to get into the details of my personal life here but anyone who has applied knows that when you need cash NOW, it's kind of a big deal to get strung along and lied to.
Again, I'm not opposed to payday loans as a general rule. I just think people should know that these no faxing payday loan ads are not what they are cracked up to be. If you need a payday loan go to the store in person, you get better treatment and, the so-called technology is not worth it in the end.
Edward R. Parker