After my issues with my student loans, my whole life fell apart.  The only credit card I could qualify for was a secured card with Capital One with a $300 limit.  As a result, when I found myself desperate for cash I would go running for a payday loan.  This became a vicious cycle for me, and I found myself in a very abusive relationship with one pay day loan provider, Instaloans which is connected with Cash Store.

I'm sure many students with destroyed credit reports from student loan issues have found themselves in the same position.  You may have been screwed by these payday loan places.  Cash Store lost their license, went bankrupt, and also lost a class action lawsuit against them.

Please, read here:  You may be entitled to a share of the settlement.

http://www.consumerscouncil.com/cash-store-settlement-notice" rel="nofollow - http://www.consumerscouncil.com/cash-store-settlement-notice

This four year old payday loan just appeared as a collection item on my credit report yesterday.  4 years ago they refused a payment arrangement when I attempted to escape a cycle of ever-repeating pay-day loans with three different payday providers.  They were the only company that didn't cooperate with me and the only company I didn't pay as a result.  I've ignored it because the interest is HUGE and it is now statute barred.  4 years later I am getting bitten for it.  I suffered through several bounced check fees.  Paid multiple additional illegal fees through their pre-paid credit card arrangement etc.  I suffered abuse and insults from them.  They absolutely refused to cooperate with me so that I could gradually pay this off and clear the debt once and for all.

Anyhow, yet another issue that stems from a destroyed credit rating thanks to the errors caused by Royal Bank with my student loan.