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.

Sunday, November 10, 2013

Can Payday Lenders Sue, Arrest, Or Put You In Jail For A Payday Loan?

Can Payday Lenders Sue, Arrest, Or Put You In Jail For A Payday Loan?
Many payday loan consumers live in fear everyday because of unpaid payday loans.  The reason why is payday lenders sometimes threaten customers to pay back their payday loan debt within a short deadline or they could face serious consequences if they do not come up with the money on time. 
We have heard several threats and here are some of the most commonly used ones:

We will sue you for check fraud.
We will have someone arrest you.
We will make sure you go to jail.
Are these true?  Can a payday lender really sue, arrest, or put you in jail for a payday loan?  The answer is no.  Defaulting on a payday loan is not a crime and cannot result in criminal charges.  This means that you cannot be prosecuted, arrested, or put in jail check fraud, breach of contract, or anything else that your payday lender might threaten you with.

Making false threats to collect on a debt is illegal in every state.  If your payday lender has threatened you with the statements above, or something similar, it is likely that your payday lender is conducting business illegally and is unlicensed.  This is usually the case if you received your payday loan from a company online.  90% of internet payday lenders are unlicensed, which means that they do not have the legal ability to take civil action against you.  For this reason, they threaten customers into paying them because they know that if they are not successful on collecting the debt themselves, then there is no other way for them to get their money back.  They also cannot take you to court if  you live in a state where payday lending is prohibited.  The states in which payday lending is not allowed are:

New Jersey
New York
North Carolina
Washington DC
West Virginia
Storefront payday lenders are a different case.  Storefront payday lenders are legal and licensed, which means that they can file a civil lawsuit against you.  

The purpose of a civil lawsuit is to simply obtain a judgment for a wage garnishment so that they can be repaid.

To avoid civil action, you need to keep communication lines open between you and your licensed payday lender.  Taking you to small claims court for a payday loan is the last thing that your payday lenders want to do.  Suing you will take a lot of paperwork, money, and time out of your payday lender.  The only reason your payday lender will resort to civil action is if they are hopeless about getting their money back.  The best thing for you to do is to talk to them about your situation and try to work out an arrangement that you can both agree on so that you can both avoid the legal battle.

In some cases, your storefront payday lender may not cooperate with you for a payment arrangement.  If this is the case, try to contact their corporate office instead.  They are usually more lenient to work with and have power over the specific store that you borrowed the payday loan from.  If the corporate office accepts the payment arrangement you are proposing, the store cannot disapprove it.

To avoid encountering these problems in the future, keep in mind that payday loans are short-term loans that should be avoided at all costs.  Do not take out a payday loan unless you are 100% sure that you will be able to pay the full amount back in time.  Never take out more than one payday loan at a time because doing so will set you up for a trap that will be very difficult to get out of.

If you find yourself drowning in payday loan debt, do not be afraid to seek professional help.  Getting out debt is easier with the right payday loan consolidation company on your side.  Do not lose another night's sleep worrying about your finances anymore.  Do everything you can to help yourself gain the financial freedom you truly deserve.


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