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Stay away from Payday Loans if you can (sm)

Posted By: Cambria on 2009-05-02
In Reply to: payday loans sm - CrispyCritterMT

I'm the poster child for what can go wrong with payday loans.  Because of the constant situation of low work I turned to payday loans.  I had every intention of paying it back on payday, which I did for the most part.  But because my paychecks never made it back up to where they once were, it turned into a fiasco, robbing Peter to pay Paul, or borrowing from another payday loan place to pay the first one back.  I got into a horrible situation with them.  I have paid them all back except for 2 which, now that I got a second and third account at work, my checks are getting bigger and I will be able to hopefully pay those off by June.  Some people can get PDLs and pay them back on time and move on.  But for people like me who used them to pay bills for too long it got out of control.  Last November my state (Ohio) did vote to lower the interest rate drastically on the loans and give people at least 30-40 days to pay them off.  But that would have put them out of business. Some of them closed down but the others found loopholes around the law.  Instead of calling them Payday Loans or cash advances, they simply renamed them, calling them Short Term loans or whatever. Plus they started buying and selling gold.  So even though they were all supposed to be put out of business, believe me, most of them found ways to stay open by finding a way around the new law that was passed.  If you can get one loan and pay it back and use that to supplement your income, fine.  But watch out, because you can get sucked into a never-ending vortex of re-loaning over and over.  I can't wait until these last 2 are paid off!   

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payday loans sm

The problem with these is that a lot of people don't pay the entire amount back plus the fee and that's it because they're short again on that paycheck so they roll it over and the cycle begins.  Sometimes they go to another lender to pay the first lender, then another to pay the second lender, etc. Storefront lenders at least are regulated.  Most of the ones on the internet are illegal and are more expensive.  In my state they passed a law last year limiting the amount of interest these places can charge.  A lot of them went out of business.  However, if you can use it once, pay it back and that its, you'll be fine.

We people? If they want to put it in early, that is fine, but payday is payday. If it is late sm
many of us are in deep trouble particularly folks like me that live from payday to payday because I am the sole support of my son and cannot afford a company that does not put the money in on time. Those companies that do that should be run out of business or banned from the MT community. They give MT a bad name.

I bet you are an MTSO who does not pay on time....you people? Gives me an idea as to the part of the country you are located too.

I know my company would die before they put it in early and heaven forbid if you complain because it is late! You are lit into like a light to complain if it is late by the owner. It will never happen that it is in there early and I doubt seriously that it will happen that it will ever be right either. It is never right and yes, I am looking for another job because there are too many good companies to work for to put up with bank charges in excess of $50 for paychecks that are not in there on time or are wrong.

I can't afford to stay with VR. If they paid more, I'd stay.
The situation sucks. I really liked this company when I started there. I know they read these forums, and they are aware that we are unhappy over VR line rates. They stroke us with cute emails and say we're the best, but I can't feed my family on praise. They're turning into another MedQuist, and so I'll be leaving.
According to the info I received there is a two-week lag from when you turn in your time card and when you receive pay for that time period.  It shows that on the list of pay dates and also in the Email info. 
I don't think there's a problem with the pay, just that maybe it has moved in house now and is not as automated as it was with the company that handled it before and there is a new payroll person handling it, experienced, I hope, so. . .

My pay has always been in on Friday mornings. I check my account every day before work and I start at 6. This is the first time in my 1 year with TT that it was not in on Friday morning, so I have changed my budget planner to reflect TT paydays based on the payroll sheet they sent out. Sigh. Friday paydays were great for us because my husband got paid on the opposite Fridays, so it always seemed like we had a little bit of money between pay periods. HAHA. Guess it had to come to an end sooner or later. I just hope this doesn't cause serious problems for people. I pay bills electronically so I was able to change some dates luckily.
I am a new KSer also, and am figuring on Tuesday at this point, with nothing in my account. The paperwork does say if it falls on a weekend or holiday, then next business day. I forgot this was President's weekend, and this is my first paycheck.
Tomorrow is payday
Are you saying that you have not received your check from last pay day? If you have not, please call HR immediately.
When is the next actual payday for TT?
I will be starting soon. When does the current pay period end, and then when will the check for this pay period be paid? Is the pay period Monday through Sunday, then it is paid by the following Monday? I will have DD and want to plan my finances this weekend. If I can get a pay date for the next check, I can plan ahead for every two weeks. I forgot to ask the recruiter and don't have my packet yet. Thanks.
Next payday at Transtech?
I start there soon and wonder when the next paydate is and what calendar days it covers? I just would like to determine when I will get my first check. Thanks!
Payday is Monday and that is when I sm
anticipate being paid. My check is always there on Monday, never sooner. You are lucky your bank floats it sooner. Most banks don't.
DON'T do a payday loan!
You will borrow around $300 and end up paying something like $900 back! That happened to a friend a while back. I know that our state is trying to outlaw these payday loan companies. It was on the news and in the newspaper not too long ago. Their interest rates are also illegal.
$100 at a payday place near me is $120 sm
on payday.  $200 is $239.  Come on, we are not talking about exending a payday advance for months on end.  If she needs it now and absolutely pays off the $120 on payday, not borrowing more, it's an option.
etrans payday
haha...I've been thinking the same thing all morning! Duh!
Keystrokes, payday
Isn't today payday for keystrokes?  I had no direct deposit and no email yet.  I sent an email, but have yet to hear back?  Seems like the dates of getting paid aren't consistent.  Sometimes the 1st, sometimes 31st, sometimes 14, 15, 16.  What gives?
Payday supposed to be 1st and 15th.sm
Received it 10 to 15 days after that date. I do not think we are talking about same company. I worked for BTS, not Sten-Tel.
Yes, tomorrow is payday at TT, every other Monday. nm
PS This was Saturday the 15th, payday
Mine has always been in on Saturday and not before. Since payday is not until
TT has it's faults but they've never been a single day late on a paycheck and have paid early for holidays many times. I don't think they can be blamed for not paying us early.
Mine is always there on Friday, but Monday is payday.
If my payday falls on Saturday we are usually paid
on Friday, if Sunday, then we are paid on Monday. We also have a pay schedule that is published at the first of the year so we know when our paydates are.
If your company hasn't paid you come payday and

promises it will either be overnighted to your or in your account by the end of the day and it isn't, and the next day the money isn't there and they wait until the end of the day to tell you they don't know when you'll get paid doesn't that sound very fishy?  I think the CEO should have issued a statement and outlined exactly what the issue is.  If it isn't a matter of money (like they don't have it) then why not say what the problem is. 

Someone mentioned this situation yesterday or the day before and got reamed, but I think this is now a MAJOR issue.  Fortunately for me I got a big tax return and I haven't paid all the bills yet so I'm not hurting, but I can imagine there are more than a few who NEED their checks NOW.  

Today is not payday. DD will be in bank tomorrow. nm


Agree with you. Payday is Monday, this is the Friday..

before payday. Some people will whine about anything. As I said before, plan your finances better and you won't be relying on DD. Why don't you call payroll and whine to them, see what they tell you?

I'm with you on the payday thing. That's the only real down side. sm
And I have not noticed a lot of ESLs on the accounts I do either.  The main account I work on, there are 2 woman (American born, I assume) who are far worse than the ESLs I have done.  Still, it is much easier than acute care.  After 30 years plus of being an MT, I was kind of burned out on acute care, so this is a nice change. 
I know that payday is on the 15th, but since the 16th is President's Day, sm

do you think we will be paid on Friday like we were last payday?  This is only my 2nd payday, so I was just curious.  If I have to wait until the 17th, then so be it.  I don't want to be lectured by those I have seen about people expecting to be pair early.  As I said, it happened before, and I just wondered.  Since it is getting late and I have not yet received an email with my paycheck stub, it is looking like probably not. 


You talked about gambling in the payday thread too. nm

Actually you are wrong about the payday thing. It states clearly that sm

the pay dates are 08/03 and 08/17, so unless your bank magically gets money for you, it has nothing to do with posting dates. 

As for the insurance thing, I'm like the other poster.  I didn't even get my new cards until last week and until then I thought I had screwed up and didn't even get the extra coverage.  I'm not bashing Keystrokes.  I just think they could have waited one more pay period and given people a heads up, this is coming thing for those of us not as wise as you obviously are.

DD is usually 1 day early. If holiday falls on payday DD may be a day late, but
never more than that.     S/L company could be having $$ issues is problems with DD.
I'll tack it onto your tab which is due Monday 'cause that's PAYDAY.
That's not true, my friend owns a payday business
and if you borrow $300.00 you pay $45.00 for that loan ending up paying back a total of $345.00.  Maybe that was just a very unfortunate situation of your friend. 
Keystrokes drops a mini bomb the day before payday! sm

I know to some this is not much, but the DAY BEFORE PAYDAY, they send out the paystubs with an email saying that starting this check, they will be taking out double premiums for the added vision and dental since it wasn't done before.  It only amounts to $30 I wasn't counting on but the timing really sucks!  It would seem more appropriate to warn folks that it will happen with the next check.  I only got my freaking cards last week.   As I said, to most, $30 is not that much, but this hurts. 

Then of course at the next payday will be the lovely treat of waiting extra days to get paid.  The 1st is on Saturday.  Most companies would go ahead and pay that Friday instead but not Keystrokes ........ you can sit your broke behind at home all weekend and wait until Monday.  That will happen 2 paydays in a row. 

Paydays are the 1st and the 15th. If the payday falls on a weekend sm

the official rule is that we get paid the following Monday. However, the last 2 times it fell on a weekend and it was a Saturday, we were paid the Friday before (yea!!).  There is a listing of all of the official pay dates for 2009.  You should ask S for it. 

Stay low and stay very, very quiet. Do not
ask questions, do not talk to the supervisors unless forced to. The answer will always be the same, that you are the only one who has an issue, everything else is perfect. Never mention anyone's name. This place has the mentality of the Borg, everyone has been assimilated, which means if your supervisor does not like you, or does not like your friend, you have no chance. You associate with so and so, so you are exactly like them. That quickly goes through the Borg network and every team lead, ROM, and person in management, including HR, is aware of it. You'll be labeled a trouble maker and your life will not be worth living. Any trial to clear your name will be done in the fashion of the trial of witches. You are in a dunking chair - if you drown you are innocent but it is too late by then.

Remember, a ROM never makes a mistake and never tells something that isn't true. They are perfect (and nastier than a pack of hiennas.)

If you run out of work, it is your fault. You are just lazy. Can't make enough to take care of your family? Too bad, you need to work harder.

And forget getting an answer from management. It doesn't
happen. So, as before, stay low and very quiet.

And do a good job? You can be assured that if you do a good job, do what you are supposed to do, and stay quiet, no one will even recognize your name. They have no idea where you work, what your schedule is, or that you even belong to Transcend.

Learn to budget. If you need to go to payday loan places, it's YOUR OWN FAULT. sm
Your pay has not changed, just the dates. Why should that matter. Pay your bills when they are due. Don't spend every penny. Learn to not be paycheck to paycheck.

If you tell me you are not earning enough to get out of that rut, think it through because if you are a good MT, there are only 2 reasons that you cannot make it to the next check.

1) You can't afford your lifestyle and should scale back.

2) You don't work hard enough, long enough or smart enough to earn a decent check.

Both can be fixed. Stop whining and work.
TransTech pays early too, Payday is Monday but I get my direct deposit
late Friday night or Saturday.
Stop putting up with adults who are children. It is IRRESPONSIBLE to go to a payday loan place. sm
As transcriptionists, we have options. We can take on more work with the company we are with, move to another company, get a second job, get our own accounts.

If everyone would be mature and take responsibility for themselves, there would be no problems.

By the way, for your information, I AM A SINGLE MOTHER OF 3 WONDERFUL CHILDREN and I have been for many years. Transcription allowed me to buy a house, pay my bills and be able to buy nice things. I knew when I was getting divorced that I either needed to cut corners or earn more. I did both. My kids and I live in a nice home but my girls share a room and my son has his own. I pay cash for cars and drive them until they cannot be driven or are not safe. We eat at home with home-cooked meals rather than eating out, except when celebrating something like a birthday or good report cards or an award one of them receives. They have nice clothese, a clean house and everything they need. I work while they are in school but make every minute of my work day count, and I have an extra job that I work on weekends in the early mornings when they are sleeping and evenings when they are asleep. We have friends, go to church and have a close family. I have never had child support and have never had to be on welfare.

I budget carefully and have a savings account. I only make 35,000 a year on average but I make it work.

Excuses are just that. People need to do for themselves. If they have medical issues or a tragedy, that's one thing, but so many of the people I have worked with just spend all their time whining and none of that time making their lives better.

I am not going to apologize. I am not a mean person, just tired of hearing people complain about EVERYTHING in this profession. Yes, it has changed, but we still have options. Many other fields do not.
No problem :) No matter how long, it is too long for me - I am broke the day after payday. Kids wi
do that to you!

I know that they have worked very hard to make sure that checks are never late and I can say that in the past two years, I have had one problem (2 days late) and in the past 18 months, they have all been on payday and perfect.

I know that there are a lot of hard feelings in MT in general. I also know firsthand (and I am not mgmt) how hard KS has worked to get things going good.

I would not want to walk in an MTSO's shoes for any amount of money, but that's just me. I like to finish my work for the day, forget about work when not working and get paid on payday. I never want the other things that go with mgmt or owning a company of any kind :)
Stay away from

Stay away from OSI then...
Will promise you the world, but then it crumbles beneath you!
Stay away . . . stay far away! (sm)
Not only do they offshore (& offer you the opportunity to earn pennies editing the accounts you worked so hard to develop normals for, etc), but they're one of the companies that docks your lines for the ENTIRE report if you make an error that the client complains about. TRS does that, too.

Make certain about the pay dates -- the employee handbook said they pay the Friday following the end of the pay period on Saturday (i.e., 6 days), but the pay schedule I received showed they make you wait 13-15 days after the end of the pay period.

Were you offered transcription or SR? I've heard good things about the Dictaphone platform they use, but the general opinion seems to be the SR part doesn't work. They offered me 8.5 to transcribe (to start) but 3.5 for SR.

Also do make certain to factor in the several hours you'll spend in uncompensated time printing out all their documents and downloading all the stuff from their FTP site. They don't supply equipment because the recruiter said that 25-50% of the units arrived damaged. Strange -- other companies don't seem to have that problem. I spent 9 years with ddi --> MQ, had probably 5 computers sent out in all that time with nary a problem.

In conclusion, make absolutely certain what you're agreeing to. Personally I find the huge corporations unpleasant to work for -- why should I transcribe to pay layer upon layer of executives, vice presidents of this and that, etc.?
stay away

they have had problems with pay and work load.  I had to find a new job.

I will stay and see if I can do it
depending on the requirements of part-time and as long as I can have flexibility to make my schedule when I want it!
I'd stay away...
I was recently offered a job with them, it was for a QA position, allegedly, but then it turned out to be editing on a voice recognition account. I accepted and started getting set up with downloading software, I'd email with a problem and not get a response for days, if I got a response at all, then I'd discover that the guy was responding to me via Yahoo Messenger, not email, even though I haven't been logged on to Yahoo for a week and he didn't bother to tell me that I could expect any communication from him to come via Yahoo. I'm not particularly impressed with the level of professionalism displayed by these people.

Pay is pretty low, I think they start out their entry level transcriptionists at some ridiculously low rate, it was 2 or 3 cents/line, but I heard it's gone up to like 5. I was offered 7 cents/line for transcription and 3 cents/line for editing with five years' experience.

They claim to have a bonus/incentive program, but I asked for specifics and was completely ignored.

They require you to work three days doing five jobs a day at no pay as an "evaluation period."

They were going to sell me a foot pedal at a discount, I sent them a check, and the guy claimed that he'd send it as soon as their shipment arrived and I'd receive it in two business days, but a week and two days after this shipment allegedly was arriving, I still hadn't received it. No email informing me of why, when it would come, etc.

Apparently there were some issues in the past with paychecks bouncing, which I hear has been fixed, but I don't know. I had an oogy feeling about them from the start, and I only accepted the offer as a "just in case" type thing, in case none of the other companies I'd applied to offered me a job.
It's been slow but due to them overhiring. I'm still new at this so when the work slowed down I freaked. Do you have any idea what months are the slowest?
I would stay put- sm
If I were you, I would stay put. I was doing 250-300 lph at MQ, they have now adjusted my lines and am now doing 130-160 lph. No benies. You are actually doing pretty good and I make 10.25 cpl. I had one day I made $12.40 for one hour. I would stay put if I were you, at least you know the system and the doctors.
I'm still there, but trying to stay
Which isn't easy. QA program isn't exactly fair from a money standpoint as they don't give you any context from which to learn from the presumed errors in order to get to 100 percent. They only tell you the word you got wrong, no context, no copy of the report. There's no way to challenge or clarfy what QA says (I've tried). If there is an error that's in a macro or normal, you'd never know in order to change it. QA needs revamping, and QA rules your income potential. As they say on M-TV NEXT!
I would stay with MQ
definitely stay where you are at.

You have the best position right now.  Working for nationals or otherwise at home is just bad nowadays.  I would really like to be in-house and paid hourly, and I am keeping my ears and eyes open for a position.  Take care.

Stay away
I worked full time for them and never had enough work.  The pay is horrible and the VR is the WORST!!!!!!!!!!  SO glad that I left!
almost all ESL and going to VR stay put nm
stay away!!!
They are a horrbile company to be associated with in any way!  They lie, they have horrible ethics and...I could go on and on!