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HotPotato2009 · Jul 15, 2009, 09:36 AM

I don't live in California Excon lol. I live in Pennsylvania. But I wasn't planning on getting a payday loan, I was just expressing that there were some places that gave out loans w/o credit check. I knew that somewhat. One of my friends applied for a payday loan and didn't pay it back on time. So the place where they got the loan from took all the money from their bank account (money they didn't have)

this8384 · Jul 15, 2009, 09:36 AM

Originally Posted by excon

Hello again, H:

Lemme see... You're in California, and you're being paid with IOU's, and you want the bank to loan you money based on that.

I'm just guessing, but I think the bank should credit your account with real cash if you deposit your IOU. But, I understand some banks don't want to DO that.

However, in terms of your getting a loan from a payday loan place, I wouldn't. The interest rate will KILL you. It's around 375%. Ever hear of anything so outrageous?

And, no, they don't do a credit check. But, they HAVE your check made out to them, and if you don't pay, they'll prosecute you for writing a bad check, and/or they'll sue you which will add to your woes...

You DO know, that you're going to have to write them a check that they'll hold till payday, and then cash, BEFORE you get your loan. You didn't know that???? Cool. Now you do.

excon

Now she's in California? She said on another thread she was in Pennsylvania

HotPotato2009 · Jul 15, 2009, 09:38 AM

I never said I was in California on any thread

this8384 · Jul 15, 2009, 09:38 AM

Originally Posted by HotPotato2009

Whose pretending?

You must really get off on being rude to people huh?

Since when did being realistic mean you were rude?

From what I can see, you've told me I was stupid and that I would feel dumb. Then you have the audacity to say I'm rude.

You really are a peach.

HotPotato2009 · Jul 15, 2009, 09:42 AM

Yes, but everything that comes out of your mouth is something rude towards me

this8384 · Jul 15, 2009, 09:47 AM

Originally Posted by HotPotato2009

Yes, but everything that comes outta your mouth is something rude towards me

Give me an example. For instance, you saying that I am stupid was rude. What did I say?

HotPotato2009 · Jul 15, 2009, 09:50 AM

Yes it was rude of me to say that. I admit it. But you were rude for basically saying that I don't really have a state job. Basically saying that I was lying about that, when you don't even really know the details

HotPotato2009 · Jul 15, 2009, 09:51 AM

But somehow landed a government job without any background experience.

This was rude

excon · Jul 15, 2009, 09:51 AM

Hello again, girls:

Stop this before I have to take you both to my room.

Ex

HotPotato2009 · Jul 15, 2009, 09:55 AM

You claim to have a government job yet you have no experience... do you realize the odds of that actually being true?

(This was rude!)

You have no idea why you need collateral for a loan or what to even give as collateral. You don't understand APR by your own admission.

(This is why I asked a question about collateral because I didn't know anything about it. Never had to go through it before. You didn't have to say "I don't know anything about it." Don't you think that's why I asked the question?)

this8384 · Jul 15, 2009, 09:55 AM

Originally Posted by HotPotato2009

but somehow landed a government job without any background experience.

This was rude

That's because that happens next to never. That's reality. It wasn't a slight against you.

HotPotato2009 · Jul 15, 2009, 09:58 AM

But I also said that I got the job through the Temp Clerical Pool. You don't have to have experience for that. You just take a test. If you pass, you go on a employment list.

this8384 · Jul 15, 2009, 10:00 AM

Originally Posted by HotPotato2009

But I also said that I got the job through the Temp Clerical Pool. You don't have to have experience for that. You just take a test. If you pass, you go on a employment list.

Sure.

smoothy · Jul 15, 2009, 10:18 AM

If you are in a TEMP job you work for that Temp Agency, not the state, even though you may work in a State office and work with AStae employees... Who sends you your paycheck, The state or your Temp agency? That will clarify a lot.

Collateral is simply put, something of value that usually equalls or exceded the value of the load, it's a guarantee that you will make payment. When you buy a car, that's why the bank has a lien on the title... thats collateral, If you have to put something else of value up for a loan that's collateral. People with poor credit or no credit usually have to do this. Avoid those payday loans... all they are , are legal loan sharking. If you could pay that loan off, you really wouldn't need that money in the first place.

APR and interest rate are similar, but not exactly the same. There will nearly always be a difference depending on what method the interest is calculated, and yes, there are different ways, many times the interest is front loaded, sometimes its spread out. Actual APR calculation can be quite complicated... Interest rate would be if the loan was a simple interest loan, which is really pretty rare.

smoothy · Jul 15, 2009, 10:35 AM

Originally Posted by excon

Hello again, H:

Paying off BAD DEBTS doesn't increase your credit score by much. They're still going to be on your credit report as a BAD DEBT, and they'll stay there for 7 years.... A judgment will stay there for 10 years or longer.

The way NOT to get bad credit, is to pay off the bills AS AGREED.

So, it appears you have BAD credit... You ain't gonna get ANY loan. Oh, you might be able to get $100 if you put up a $2,000 diamond as collateral at a pawn shop.

excon

Excon Sorry, accidentally gave a reddie when I meant to give a greeny.

smoothy · Jul 15, 2009, 11:44 AM

Here is a link that explains APR... I suggest you give it a read...

What does APR mean

ScottGem · Jul 15, 2009, 11:51 AM

Originally Posted by HotPotato2009

Working for the state and the government are 2 different thing

You have to be kidding. When you work for the state you ARE working for the government. It's the state GOVERNMENT that hires you and pays your salary. You MAY work for a temp agency contracting with the state, but ultimately you work for the state government.

smoothy · Jul 15, 2009, 11:59 AM

Originally Posted by ScottGem

You have to be kidding. When you work for the state you ARE working for the government. its the state GOVERNMENT that hires you and pays your salary. You MAY work for a temp agency contracting with the state, but ultimately you work for the state government.

That gets in a grey area there... Usually if you are working for a temp agency, or a contractor the legal definition,, and by that I mean IRS rules as well, who you technically work for is determined by who drafts your paychecks. I once worked as a contractor, at a government facility, I worked along side several categories of government workers, Military, Federal, Federal contractors Paid directly by the government, and Us contractors paid by our company, who was paid by the Federal government.

Under tax laws, we all worked side by side, however... My company empoyees were exempt for all Federal and state taxes... except for SSI and medicare... while all the other people wee fully obligated for ALL the normal taxes. Basically, if the Feds paid the paycheck directly... you were a Federal employee, if they didn't, legally you weren't a federal employee even if you did the same work they did.

Personal experience Working overseas on a US military base for 5 years . A little different due to the tax implications, but the basic legal definitions didn't chage for those working in the USA.