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Posted: Wed Nov 14, 2007 9:34 am

I'm a Florida resident and have been trying to negotiate payoffs with payday lenders (all internet) prior to the loans defaulting or any payments being returned. Several have agreed to my proposed payment plans and have agreed to stop ACH debits. Others have not. Here's a summary of my situation with the lenders who will not work with me:

The Loan Shop a/k/a Isle Ventures? - Loan amount $300
Paid $90 to date (only payment required) Tried to make arrangements and was contacted by a collection attorney threatening to report me to Telechek, etc due to returned ACH. The point is...nothing has been returned to date. He said I owed $488 but after I gave specific amounts and dates, he reduced it to $390 if paid within 7 days, otherwise, he will "prosecute"

SJM Marketing, LLC - Loan amount $300; deferred payment until end of month with no added fee

Zip19 based out of Malta? - Loan amount $1000; fees charged of $200 each time it is paid. Have to pay it off at $1200 and request new loan for principal each time. Will not make arrangments

Pay-day Loan Yes - Borrowed $350; will not make payment arrangements until a payment is returned; would not provide an address

BIG, LTd - borrowed $200, paid $80 in fees so far, cannot reach anyone to make arrangements

Any tips you have would be appreciated. I have sent some letters to revoke ach debits. The one I am most concerned about at this point is The Loan Shop due to the reaction of the company by sending it to the attorney before I even defaulted!

Posted: Wed Nov 14, 2007 9:59 am

Big is highly illegal and out of the US

Payday loan yes idk i havent been able to get with them either

the other two i havent heard of but im sure someone will be along to help you out

Posted: Wed Nov 14, 2007 10:01 am

T...click on this link and it will give you the laws for Florida. It is very detail and Im sure it will help. I had Loan Shop/Westbury Ventures and overpaid them so they were willing to release me from the debt. Good Luck. If they are illegal and report you to a credit bureau, you can dispute it and have it removed from your credit report after asking them to validate the debt from an illegal company.

http://www.debtconsolidationcare.com/florida/paydayloan-help.html

Posted: Wed Nov 14, 2007 11:42 am

Tfarris, here are the laws for Florida...

pinky2083 · Posted: Mon Dec 03, 2007 2:23 pm

I regret ever taking a loan out with them. I get harrassing phone calls at work from some people from India. They've cursed at me and even left my personal info on my general office phone number that anyone can check. I HATE THEM and i'm not gonna pay them back!!

Posted: Mon Dec 03, 2007 5:46 pm

t, I don't believe any of yours are licensed/legal in Florida. Someone will correct me if I am wrong. The Loan Shop will not "prosecute" you. Good Lord. They are nuts. And BIG is horribly illegal and will hound the living hell out of you. You can try to contact them; however, they will contact you if you default. Also, they will debit you to death, even if you've paid in full. Just a warning about that one. Check your state licensee database to see if any of these are even licensed/legal in your state.