Last Chance Cash Advance - ID Theft Protection RIPPED ME OFF-charged my account WITHOUT authorization Phoenix Arizona

Do you even KNOW what a "payday loan" is? PEOPLE PAY ATTENTION!!!!

Retail lending
Borrowers visit a payday lending store and secure a small cash loan, usually in the range of $100 to $500, with payment in full due at the borrower's next paycheck (usually a two week term). Finance charges on payday loans are typically in the range of $15 to $30 per $100 borrowed for the two-week period, which translates to rates ranging from 390 percent to 780 percent when expressed as an annual percentage rate (APR)[1] The borrower writes a check to the lender in the full amount of the loan plus fees. On the maturity date, the borrower is expected to return to the store to repay the loan in person. If the borrower doesn't repay the loan in person, the lender may process the check traditionally or through electronic withdrawal from the borrower's checking account.

If the account is short on funds to cover the check, the borrower may now face a bounced check fee from their bank in addition to the costs of the loan, and the loan may incur additional fees and/or an increased interest rate as a result of the failure to pay. For customers who cannot pay back the loan when due, members of the national trade association are required to offer an extended payment plan at no additional cost. In states like Washington, extended payment plans are required by state law.

Payday lenders require the borrower to bring one or more recent pay stubs to prove that they have a steady source of income. They are also required to provide recent bank statements. Individual companies and franchises have their own underwriting criteria.


Internet lending
Online payday loans are marketed through e-mail, online search, paid ads, and referrals. Typically, a consumer fills out an online application form or faxes a completed application that requests personal information, bank account numbers, Social Security number and employer information. Borrowers fax copies of a check, a recent bank statement, and signed paperwork. The loan is direct-deposited into the consumer's checking account and loan payment or the finance charge is electronically withdrawn on the borrower's next payday.

I made the same mistake yesterday (May 30, 2008). I went and applied with this company and got turned down too. Then I went to check my email and it said I had signed up for this idenity theft. I immediately went to the bank this morning and cancelled my checking. Needless to say they will not get a penny from me. Luckly I beat them to the draw. This is definitely a scam! I called that toll free number and some lady answered the phone. I said "try your best to get your first payment, you will not get not a penny from me because the account has been cancelled! I guess sombody beat you to the draw first!"

I also remember saying "go ahead and try you bunch of scam artists". The woman I was on the phone with was speechless. I thought she had hung up on me. I said "Are you still there"? she said "yes". I said "What is wrong? I would be speechless too if I got caught scamming people" then I hung up the phone. Those people make me sick. The best thing to do if anybody is faced with something like this is go immediately to the bank and cancel your account. You can always take care of the checks that have not cleared the bank yet. I would rather pay my bank and the places I wrote the checks to a fee than pay them scam artists any money. It will save you money in the long run by cancelling your account!