Holiday dumped dog heartbroken in a corner of his kennel, too depressed to lift his head anymore

Payday loans are very popular, because they are easy to get, your previous credit record is not an issue with the lenders and they are provided typically within twenty-four hours of applying. They are sometimes the only way out when there is an emergency, say a sudden emergency, like an illness or if you are required to shift residence suddenly. They are considered a blessing and the loan providers do seem a god send.

The flip side of these loans is never considered. The effective APR or Annual Percentage Rate can work out very high because it calculates the compound rate on the fee payable calculated across the year, and the interest component is also charged on any upfront fees that have been paid like the origination or participation fee.

Such expenses on a loan is never envisaged, and the lenders get trapped into either taking more payday loans to pay off the previous loan, or you are asked to roll the loan for a further period. Both the cases can be tricky. Even the President of the United States of America, Barack Obama called them loans predatory and trap borrowers in a cycle of debt. In fact, it is believed that this cycle or rollover, is an essential part of the industry's business model.

Of course, lenders have their side of the story. First and foremost, the loan is expected to be held for not more than a few weeks. It the rates were to be made on par with credit cards and other loan instruments, it could not justify the risk lenders take for lending small unsecured sums of money. Their operating expenses too would not be covered.

Nevertheless, in a free market, where consumer is king, his interests have to be secured at all costs. Regulators the world over are putting into place the first ever rules on payday loans to help cash strapped lenders from falling into an ever widening pool of debt.

This is when a payday loan claim specialist comes to your rescue. The payday loan refunds executive understands that you have been a victim unwittingly and understands that you want out but are helpless.

The payday loan claims companies will help the borrower claim a refund from the pay loan provider in the following circumstances

If the borrower increasingly feels indebted causing a struggle to meet his weekly/ monthly household bills.
The loan lenders automatically debit his bank account, leaving no funds for the borrower's routine expenses
It was made available to the borrower when he or she was unwell, without a job or living on benefits.
It was not affordable as envisaged by the borrower.
It was rolled over at the suggestion of the lender, resulting in more debt.
In order to repay, the borrower had to take additional loan or forgo the important payment of utilities such as electricity etc. or even tax.
How do they work?

The lender puts in his or her application for refund of claims with all the details of the payday loans taken.
The claims specialists analyze the documents and send them prepared documents for signature towards claims
The signed documents are presented to the lender who is potentially responsible for misspelling the payday loans
The lender intimates the payday loan company's decision and the claims specialist negotiates on the borrower's behalf for the best outcome
It settlement is not reachable, the case is referred by the claims specialist to the Financial Ombudsman who will deliver his independent verdict, which will be conveyed and explained to the borrower by the payday loan refunds executive or claim specialist.
A common decision by the Ombudsman is an order for the payday loan lender to refund all interest after the third loan onwards, incase there are many payday loans refunds.

Davey really needs you. He has some sad eyes that can only be turned around with love. This fella has so much going on around him and is hoping for a relaxing home to feel safe in. Davey is about 50 lbs and is 2 yrs old.

**PAST SHELTER DEADLINE! This dog is in ACS KENNELS and at risk of euthanasia as space is needed by the city at 9:30am Mon-Sat, and again at 5pm Mon-Fri & 3pm Sat.**

ADOPTERS PLEASE EMAIL: acsadoptions@sanantonio.gov
FOSTERS/RESCUES PLEASE EMAIL: placement@sanantoniopetsalive.org

We are NOT the City Shelter to where pictures were taken. FOR MORE INFO ON THIS PET please contact:
San Antonio Animal Care Services
4710 State Highway 151
San Antonio, TX 78227
Phone Number: (210) 207-4PET.
Fax Number: (210) 207-6673
Ask for information about animal ID number #A507510


STATUS : - read comment for update from crossposter
Short Term Loans are advanced for a minimum period of ten days to six months or a couple of years or more. Pay day loans are a special type of Short term Loans which are given for a short period of time which is generally till one gets his/her pay. They are typically loans of up to 500 pounds to be repaid before the next ''pay day''. Typically, a loan of 100 pounds would cost 25 pounds every month. The annual percentage rate (APR) for such loans can be 1000% or more! APR expresses this cost of a loan on a yearly basis, rather than monthly which is what it is actually charged at. The APR is the standard for disclosing the cost of the borrowing, making it easy to make comparisons across lenders. Also, this disclosure is for the protection of the consumer.

There are no restrictions imposed on the interest the lenders can charge. Pay day loans are very popular in the United Kingdom. Customers typically take out 6 such loans every year for amounts between 100 and 1000 pounds, with interest rates above 5000% APR. The pay day loan industry is worth about 2.8 billion pounds today. As such, the financial regulatory body in the UK, the Financial Conduct Authority (FCA) has formulated new rules for the industry, to protect the interests of borrowers.

Why do people take pay day loans?

· To meet any unexpected bill

· To pay for repairs to house or car

· To tide over the end of the month till the next pay day

· To avoid borrowing money from their friends and relatives

· To continue with their scheduled expenses as they can't afford to cut on the expenses

· To meet an unexpected huge expense like huge car repair bill or roof collapse which has to be repaired on an urgent basis

· To meet some medical emergency or hospitalization

· To meet financial expenses if there is a death in the family

· Any other emergency needing immediate finance which is not available to the people

What do pay day loan lenders have to offer?

· Flexibility of repayment as in case of non payment the loan can be rolled over

· Ease of application and disbursement of loan - turnaround time is 24 hours

· Bypassing traditional credit checking

What happens if you don't repay the loan on time?

It is either rolled over by which you pay a fee to delay the repayment. This works out to quite a lot depending on the number of times it is rolled over. Or, through the Continuous Payment Authority, the lender could automatically take the loan and interest amount directly from your bank account.

New Rules for pay day lenders:

· Lenders will be forced to make more intensive affordability checks. The City regulator as the FCA is known can crack down any time on lenders and stop them from giving loans. Registration with the Office of Fair Trading is mandatory for lenders

· New rules to protect borrowers have been designed so that only those who can afford to repay the loan will be granted one

· Big lenders have been reprimanded for charging high APRs

· APRs have to be communicated clearly to the borrower

· FCA took over the regulation of all pay day loans in April 2014, with restrictions in place since July 2015

· No more than two rollovers are allowed.

· Their status of preferred creditors has been removed.

· They are bound to offer free debt advice to a borrower who has to roll over a loan.

· The government should provide comparisons among different lender in the consumer's interests.

What is a better option than pay day loans?

0% Credit cards are a better option than pay day loans for the following reasons:

· Flexible borrowing

· No big interest amount to pay

· Flexible Pay back schedule

· Suitable for longer term borrowing

Payday loans direct lender used to disburse Pay Day loans under their Go Credit Banner. These Pay Day loan direct lenders have since stopped giving loans and instead offer an advisory on these short term loans.

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