Many Payday Lenders bank on your need for fast cash that you probably can not pay back. And be forewarned Payday Loan debt collectors are some of the most aggressive out there!

There are alternatives to using payday lenders, including social service and faith-based organizations. If you are on Social Security, you might be eligible for help with food, rent, mortgage payments, energy bills or cash assistance that you don’t have to repay. To get help with improving your credit and finding alternatives to payday lenders, meet with a reputable nonprofit credit-counseling agency that is a member of the National Foundation for Credit Counseling (NFCC). To find one, contact the NFCC at 800-388-2227 or nfcc.org.

To help prevent your assets from being garnished, don’t take out loans that must be paid from your checking or savings account or prepaid debit card. If you do, do NOT have your paychecks or social security payments sent to the same bank where you have loans that are automatically paid from your checking or savings account. Avoid taking out loans from banks that are linked to a checking account where you receive benefits by direct deposit.

Avoid loans that promise to improve your credit score or come with fees or terms you don’t understand. Many factors influence your credit score, and taking out subprime loans can actually hurt your score.

If you are being harassed by Payday Loan debt collectors in violation of the Fair Debt Collection Practices Act (FDCPA) please give my office, The Law Offices of Todd M. Friedman at (877) 449-8898.