Payday Loans???
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Payday Loans???
| Thu, 02-11-2010 - 11:17am |
What can you tell me about these payday loans where you go to these places (or maybe they're online) and they advance you money from your upcoming payroll? Some of you know that we are trying to intervene with my parents to at least get them to see that they are living recklessly and at their age and in their health it's not good.
I believe they are using these type places. Moneytree.net or something like that. They are payday loans for a certain # of days and then they have it withdrawn from their account on a certain day after the paychecks go in.
Aren't the rates SUPER high? and are there fees in addition to interest?


OMG these loans are horrendous!! Upwards of 50% interest or more as it is charged by the day.
Oh Kathryn, I was hoping you were making some head way with your mom on all of this.
Norma
"Patience is the best remedy for every trouble"- Plautus
Thanks. It's not just the money, but she's telling her friends that we said some "hurtful" things to her and she always tells them "I'll spare you the details" because if she told them the details, she would never get support. So, they are all feeling sorry for her.
She's lying to her landlady about why her rent is late and she's lying to us about a lot of stuff. We have LOTS of ways to find stuff out and she doesn't know how much we know.
My brothers are going to go see her soon and see if they can have a calm and rational discussion, but I'm not sure they will be open to it. We want to make sure my dad knows, because we think he's in the dark on a lot of stuff.
Dear Mom,
I just wanted to wish you good luck with this.