The consumer-protection agency has also filed lawsuits against Payday Financial LLC of South Dakota for trying to garnish wages of its borrowers and threatening to sue them in the Cheyenne River Sioux tribal court.

The FTC says the company has no authority to garnish wages or to file cases against nontribal members in a tribal court. Online payday lenders are the fasting growing segment of the industry, accounting for more than 10 billion a year in loans. Only a fraction how long it takes to get a personal loan that money goes to tribal affiliated lenders. Angela Vanderhoof of Olympia, Wash.borrowed 400 from OneClickCash in October 2010, not realizing she would eventually pay 690 in interest on her loan or that she would be hit with as many as four overdraft charges on her checking account in a single day.

The withdrawals left her nearly penniless, she said. When she talked to the Center for Public Integrity last fall, she wondered if she would ever be able to get any of that money back. Today, shes one of the borrowers listed in the FTC court documents.

How long it takes to get a personal loan

Apply for your payday loan online in minutes, without driving around, tons of paperwork, and long waits. Easy Application. Complete our online application.

It's quick, easy, and secure. Fast Decision. If youre accepted you will be connected directly to your lender, usually within 90 seconds or less.

How long it takes to get a personal loan

Please see below for a cost comparison. • Nonsufficient Funds with Bounced Check Fee: 45 total charge, 1173. 21 APR • Overdraft Fee: 40 charge, 782. 14 APR • Late Fee: 20 charge, 521. 43 APR • Short Term Loan: 10 charge, 260. 71 APR. Implications of Late Payment.

If you are unable to repay your loan on time for any reason, please contact your lender as soon as possible. Late payment fees are set by your lender in accordance with the regulations in your state, and lenders also determine their own policies in regard to how they handle late payments.

How long it takes to get a personal loan