Payday Loans – Are They Your Enemy?

If you’re in trouble, a payday loan will only get you into more trouble. There are many reasons why you should avoid payday loan companies. Because of laws that have recently been passed in an attempt to regulate the industry, payday loan companies have gotten more creative in developing ways to take more of your money and hold you financial prisoner. When you are facing an emergency, the last thing you have time to do is think. Payday loan companies know this, and take advantage of the situation and you. There are more payday loans scams than you can count, and the list is growing.

General Issues Related to Payday Loans

Those who are in the business would have you believe that the majority of people who take advantage of this kind of loan do so sparingly. Nothing could be farther from the truth. Once on the payday treadmill, it is almost impossible to get off. Many borrowers believe they are paying off the principle when, in fact, they are paying fees and interest because that is what is taken first.

Local payday loan companies are often found in impoverished neighborhoods. They know the best places to find their victims. Their advertisements are meant to be misleading. For instance, they can offer up to 30 days with a 0% interest rate but not be as forthcoming with respect to the fees and penalties that will drive up the cost of the loan. Clients are told their repayment check will not be cashed until a specified date. However, if the check is cashed early, and they often are, they can bounce which results in more penalties not only from the lender but from the bank, as well.

More Than a Few Bad Apples

There are thousands of companies in the payday loan market. Some are worse than others, but none of them offer the kind of help the people who use them need. If you’re in trouble, you’ll just end up in deeper trouble. There are just some of the worst companies. Money Mutual is on the list because of its celebrity spokesperson, Montel Williams. It is clearly a payday loan company or, at the very least, puts their clients in the hands of payday loan companies.


It seems that 200cash specializes in taking a $19 fee from people who have never applied for a loan with them. They also take this fee from those who apply as well as additional fees and payments but never deposit the loan funds. This company had the most complaints by far.


This company appears to hire some very rude people according to the consumer complaints. What the complaints about 800loanmart should teach you is that when you are in trouble, taking out a payday type loan will expose you to people who can and will make your life miserable. Not only will you sink more deeply into the quagmire, but you will be treated cruelly and threatened for your trouble.

Ace Cash

Ace Cash seems to specialize in depositing money in accounts belonging to people who have never applied for a loan. They then harass these people, and try to force them to pay for something they either never received or asked for.

Ace Cash Express

Many of the complaints against Ace Cash Express are from former employees. They make for extremely interesting reading. It is hard to understand how a company can stay in business considering some of the things the employees are saying. If these comments don’t discourage you from taking out a payday loan, nothing will.

Arrowhead Investments

The complaints against this company are diverse. Some complain they are being harassed for loans they never applied for. Others report threats and rudeness.

Cash Today Ltd.

One of the things to learn from the comments about this company is that once you have done business with a payday loan company, you may be fair game. The question is, why are certain people called and threatened when they have never had a loan with that particular company? You’ll also notice that requests for written proof are denied.


More of the same – customers being called to repay loans they never applied for, threats of arrest and jail, and rude behavior. The more you look at the complaints for all the companies, the more you should realize how dangerous payday loans can be.


The complaints against this company should chill your blood. The amount of money people are paying back for their loans is astronomical. There are a lot complaints that list the amounts borrowed and what has been repaid. Anything has to be better than a payday loan.


More stories of threats against people for loans they never applied for. There are complaints that the people who call and harass “customers” have accents that are difficult to understand. It appears that some companies believe that if the target can’t understand what is being said, the bill might be paid.

Check ‘n Go

This company just has a fair number of complaints. They are different, and several are from repeat customers who finally got tripped up by the system. In the end, there’s no way to win with a payday loan.

Fast Cash

There are a lot of complaints by people who are being threatened with jail or actually being sued. Once a payday loan company has you in its clutches, there is almost no way to extricate yourself.

Insta Cash

More innocent people are being threatened. It can be very frightening when a company calls, has some of your personal information, and demands repayment of a loan you never applied for. Think of how much more frightening it can be when you have applied.

Instant Cash USA

Apparently, being difficult to understand is a tactic used by people trying to collect debts. They must believe that if they connect with someone who is afraid a loan has been taken out, that person will pay even though they may not owe anything to that company. It must work some of the time, or the companies wouldn’t try that trick.

Money Mart

Here are more stories and more pain and misery. No one wants to end up in financial trouble, and payday loan companies take advantage of people who can least afford it and are unable to protect themselves.

Money Mutual – endorsed by Montel Williams

You would think that someone with the reputation enjoyed by Montel Williams would reserve his personal endorsement for companies with impeccable reputations. Not so. The Internet is full of stories about the suffering endured at the hands of Money Mutual. Like other Payday type companies, their actual fees and other charges are difficult to identify. Lest you think Money Mutual is not in the business of payday loans, think again. Look at where you will find a complaint against a company called BlackCard Loan that the consumer found through Money Mutual.

One Click Cash

There are so many complaints about this company, it would take a long time to read every one of them. People get confused because the company is not clear about what they are doing. People end up paying many times the original loan amount before they finish if, indeed, they ever finish.

Payday Loan Yes

Here is more and more and more of the same. Story after story says the same thing. The company tries to get money from people who never took out a loan, or they take so much money from people trying to get out of debt.


It is true that people should take responsibility for their actions and understand that, regardless of the reason, a failure to pay will result in an unpleasant experience. However, everyone is human and deserves, at least, some courtesy and consideration. When you do business with a payday loan company, you are often treated as if you are no longer human.

The Real Solution

There are some alternatives to payday loans. Some credit unions have started to offer their own version of a payday loan. While they may resemble payday loans in many respects, the ultimate payback amount is significantly lower than that of payday loan companies. This is a service that credit unions offer their members.

There are also organizations that work to educate consumers and help them avoid making decisions that will increase their financial problems. One site that has a lot of information is the Consumer Federation of America’s PayDay Loan Consumer Information found at The site covers several topics including how payday loan companies are regulated by each state, the facts about payday loans, research, assistance, and a calculator that can help consumers determine how much a loan will really cost.

If you feel that a payday loan is the only choice you have, take a look at Consumer Affairs ( You will find complaints about many companies that might help you navigate the treacherous waters and find a company that is less destructive than others.

If you are in the kind of financial trouble that is overwhelming, there is nothing worse than taking out a payday loan. If, after reading this, you still not not understand why you should avoid payday loan companies, you’ll understand once you’ve done business with one.