It would be hilarious if it wasn't so depressing. If you read over the thousands of blogs concerning payday loan places, you really begin to wonder about the intelligence of those who frequent them. Payday loan places, that is. The only thing apparently sadder than the human who seem to be getting these exorbitant loans are those who fail to pay them back. State and federal rules have long required payday loan websites publish and distribute borrowers' rights information with the loans they issue, yet the internet is full of questions, posted by the worried who appear oblivious in regards to what payday lenders could and cannot do. This piece of writing will help you separate the payday loan fact from fiction.

Am I going to get imprisoned for not paying my pay day loans?

When was the last time someone was arrested for not paying your water bill? In the US, there is no such thing as debtors' prisons. You can thank your founding fathers for that. These used to be in England, but they do not exist here. It really does not make a lot of sense, our founders decided. After all, if you're in prison, how could you work to pay for your bills? What can happen, however, is that the payday lender can commence with a civil charge against you and take legal action to recover the cash you borrowed from them.

I can't pay. What are my options?

Well, whatever you do, don't ignore them. Many payday advance places will attempt to work something out for you. Some require, however, that you just make contact with them before the loan is due to make arrangements for repayment. There is something called "hardship repayment" that a lot of do not advertise. Given our current economy, if you have had something happen such as becoming unemployed, you might be qualified for a settlement plan. It is essential to ask for this though and many won't be much easy about offering.

What's a repayment scheme?

Rather than rolling over the loan and continuing to pay interest, a payment plan, also called a hardship repayment plan, converts the loan, if you will, into a longer term loan. In this situation, your entire loan is broke up into payments, usually not more than four, and the interest or finance charges stop. So, if you borrowed $500, which, with the finance charge would be $588, that repayment system might look something like four payments of $147 to be made every two weeks (every pay day).

Are they really permitted to call me non-stop?

Unhappily, yes. You can request them to stop calling you every hour on the hour, but they are not a third party collector and thus officially allowed to make contact with you ad nauseum, if they want. You can however ask them not to call you at work

See, you got yourself into this mess and now you're going to have to get yourself past this confusion. Part of this needs you take action and make yourself responsive to your rights and options. Get the phone and call. It may not be easy, but the truth is you might be surprised that several companies are ready to work with you.

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