Hi,
So I gave all of my information and then the site said that there aren't any reps available. Then it said to call a number and it said that they don't serve in my area!! What the hell?? Should I cancel my account? Because I don't want them to take money out of my account and I haven't received anything nor do I want to anymore!! SOMEONE HELP!!!!!

I think so

One day I was researching payday loans online, for the first time ever. I came across this website mypersonalmoneystore.com, it looked very legit and very personable. I looked all over the site, read there lousy 'money-blog'. Everything seemed legit, and I thought i'd found the temporary solution to get me through till my next payday. So I did the application. Put down a lot of personal information, including *cringe* my social, work information, etc etc. Got to the end, hit submit, and waited for a response....Only to be redirected to a page with an application for a visa card. I'm still waiting to here was I approved, declined....Nothing. So I call this number that's soppousidly there customer service. A recording played in loop saying "Please hold, our loan consultants are currently assisting other customers". I waited a while then hung up. Tryed again, and finally got a body on the phone. It was a woman, who sounded about as enthusiastic about her job as the kid on fries at a mcdonalds. Who gave me a scripted response when I explained my situation, that they basically couldnt find a lender for me at the time. So I asked her about the floud of emails I was recieving, various spam offers. She suggested I respond to those emails, that they "might be the lender i'm looking for". I quickly asked her about deleting my info....She responded she had no access to the information, it was encrypted somewhere. She also claimed that when I did the application theres a place to opt-out so they can't sell your information. TRUST ME, theirs no place in the app to opt-out. I conclude this is how they make your money, by hawking your information to the highest bidders. Meanwhile you didn't get the loan you needed. So fast forwarding, I've recieved HUNDREDS of spam emails. A handful of PHONE CALLS, even text messages. To stop the harassing i'm just expected to block all these emails, reply to the text stopping the ads, and ask these telemarketers to remove my number?. I now have to change my phone number, but I do plan on getting on every website imaginable and spreading the word about this scam. They're profiting off people who are in compromising financial situations, and they need to be stopped!

THANKS HOUSE FOR SUCH A WONDERFUL WORK. I WAS LOOKING FOR GOOD CONTENTS FOR MY BLOG WHEN I STUMBLED UNTO YOUR SITE. I WAS ACT ABOUT HAVING AN RSS FEED FROM PERSONALMONEYSTORE.COM, BUT DECIDED TO CHECK IF IT WAS A SCAM STUFF.
THANKS A LOT, BECAUSE IF NOT FOR YOU I WOULD HAVE HELPED DRAINED PEOPLE.
PLEASE CAN I GET YOUR RSS FEED FOR MY BLOG SO PEOPLE CAN BE PROPERLY GUIDED.
THANKS

I also agree with Steve. There is no way the Personal Money Store (or "PMS") charges people 300% interest. Take Steve, for example. He was charged 20% interest for a two week loan. At that rate, his compounded annual interest payment would have been 300*(1.2^26)=$34,342. That's the interest rate, compounded by the number of periods, times principle.

Think about if your money earned 20% every two weeks. If you started the year with $100, and it gained 20% per two weeks, you'd end up with $11,447. And some change. Who wouldn't want to be in that business?

Part of the reason there are no comments on this page is because people don't fully understand what they are getting into. You can't imagine that the PMS says things like "just sign here for your 10,000% loan". They say, look, we get you through till next week, and it will only cost you 20%.

Call it whatever you want, predatory lending, loan sharking, usury, or payday loans. Ultimately, it's a rip-off and as close to criminal as you can get without breaking the law.

Yes, Steve. It's a joke. And the joke is on you and your employer, the Personal Money Store.

By way of explanation, UCAN recently made it difficult for the Personal Money Store (which is a scam) to enhance its Internet presence by posting stupid blogs on our Web site and then linking to their pay-day loan site. That is why we posted the blog above about the Personal Money Store. "Steve" who authored the comment below this one apparently objects to this policy, which is why I have included links to the Predatory Lending Association at http://www.predatorylendingassociation.com/ in his post and this one.

Yes, the PLA at http://www.predatorylendingassociation.com/ is a spoof Web site that makes a joke out of the predatory pay-day loan business and its lackeys like "Steve."

The people who work at, and own, the Personal Money Store deserve to be scorned. They prosper from the misery of others. And if "Steve" is upset about my blog at http://www.ucan.org/blog/money_privacy/money_saving_tips/payday_loan_war... it is because the first article to show up on a google search for the Personal Money Store is the one on this page at www.ucan.org, which makes it very obvious that the Personal Money Store is a rip-off.

And just so anybody reading this understands, let me say it another way: doing business with the Personal Money Store which offers pay-day loans is a bad idea.

The Personal Money Store is a pay-day loan vulture that feeds on the rotting carcass of the American Dream. If you do business with the Personal Money Store, your dreams could rapidly turn into a nightmare. My name is Charles Langley. It is my real name, unlike "Steve" who makes his living by enabling and defending the likes of the Personal Money Store.

Oh, did I forget to mention that this blog is about the Personal Money Store which offers pay-day loans? Did I neglect, perhaps, to let you know that you can learn all about companies like the Personal Money Store by visiting the Predatory Lending Association at http://www.predatorylendingassociation.com ?

Sincerely,

Charles "We do not endorse pay-day loans" Langley
Public Advocate, UCAN, "we dislike pay-day-loan stores like the Personal Money Store"
The Utility Consumers' Action Network

Seriously? You're using the "Predatory Lending Association" (PLA) at http://www.predatorylendingassociation.com as a source? Your investigative skills don't appear to live up to Langley, VA standards, Mr. Langley. At the very least, this piece is hardly up to the useful standard other pieces on UCAN have set.

Readers, check out the Predatory Lending Association's site at
http://www.predatorylendingassociation.com

It is an unoriginal attempt to mock the Community Financial Services Association's Web site. Read the PLA's site. It is humor. It is a joke. It is a thinly veiled assassination piece.

You're careless with your words in paragraph four, Mr. CIA. I'm a former payday loan customer, and I've found through my own research that "391% interest" should actually refer to a rather different concept, Annual Percentage Rate. When I took a $300 loan - and I took 1-2 per year at most - I paid $20 per $100. Thus, I paid a $60 fee for the two-week loan, which is 20%. The Truth in Lending Act and FTC requires rates be clearly stated, but they use APR as the standard. APR isn't a useful statistic when you refer to a two-week loan, and that's where the Predatory Lending Association has it wrong. If you don't believe me, check them out at http://www.predatorylendingassociation.com/

You shoot yourself in both feet, the hands and the gluteus maximus with your suggestion that readers go to the PLA Web site at http://www.predatorylendingassociation.com for any real information. Are you attempting to increase UCAN's own Google link juice through frivolous means, Mr. Langley?

Seems to me that you do yourself and your readers a disservice with pieces like this. And either UCAN has an open blogging policy or you don't. You insult your readers' intelligence by insinuating anything inbetween.