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Payment settlements
(01-15-2018, 07:43 AM)joshuacabrera Wrote: That is the reason I could never utilize a Payday loan. I understand there is a distinction between a Payday loan and and loan shark, yet with the measure of cash they both charge I think Payday loan could be thought to be loan shark compose advances. I know they much of the time get in a bad position with the administration by abusing usury laws which are laws to watch others against monetary misuse.

Yes there is a distinction. Loan sharks, unlike legitimate lenders, operate illegally and can do just about whatever they want. If you can't pay off your debt, a legitimate lender will harass you, maybe take legal action if possible/necessary, but a loan shark will come to your house and beat your kidneys out, and then take all of your money.
(01-10-2018, 07:36 AM)marblank1313 Wrote: Thanks for all the responses, and for sharing your thoughts. I, now would not recommend anyone to try borrowing from loan sharks or anything like them, as much as possible. Although i shall admit that it helped me with a certain situation back then, it is still a bad experience for me. Just try your very best avoiding them or avoid situations that will put you with no choice. Don't gamble to do what i did. Luckily or i do not know if i can use the word "luck" about that, i settled it but with a lot of wasted money. I am just happy not hearing from them anymore.

Its actually nice to know that you have survived that kind of situation. Your experienced was a good lesson for us, as well. Thanks for sharing it. I honestly didn't know that loan sharks are for real but with your post I just proved that I will never consider borrowing with those sharks. (Hopefully) Smile
The 250 percent payment is driving my anger mode to a high speed, how is 250 percent payment for a little loan you collected is even possible, if you using it for business then it means you sold almost everything you had to payback. What kind of loan is this by the way, I haven't heard of this anywhere, if I was you I would have sue them because this is too much of a loan to collect.

To Marblank1313.
I personally have dealt with something similar but not exactly a loan shark either, but I feel there are better options. The best option is to try to plan ahead to save money instead of trying to get a loan in a pinch. I would not suggest go through that experience of the loan shark situation and if so you will just be much more careful next time.
(01-09-2018, 10:18 AM)kwaikin25 Wrote: Yes, I've been in this situation for once. It made so much pain on my head having a payment settlement with my unpaid loans. Since i am not capable anymore to carry the load from my interest loan, i try to negotiate with the lender to settle the payment balance in full. I really asked their good and kind heart to waive my interest as a whole and settle the remaining principal balance. I am very thankful that they grant my very humble request.

Wow, that is good to hear. I think you are a great negotiator though.  Smile
I also have that in my mind back in the time i was settling it, but it does not came out my mouth. hahaha. Thanks for sharing, i should have done what you did, such a waste of money... But i am thankful we both got away with that situation.
Yes its the hard time that will past in your life that you will pay your purchase or loan to be settle and have no debts in your account but its good to have a date that when you will pay for your debts.
I think the best thing you can do if you are in any kind of tough situation with money is try to negotiate with the lender. They will often be sympathetic if they know you are putting forth a good faith effort to pay them.
Settlement of securities is a business process whereby securities or interests in securities are delivered, usually against (in simultaneous exchange for) payment of money, to fulfill contractual obligations, such as those arising under securities trades.

I never experiencing it.

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