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Posted: Mon Apr 24, 2006 6:17 pm Subject: Woo-hoo! Interesting new facts!

Hey cats! Guess what I just found out!

I had a couple of friends over for sup last night, and the subject turned to cell phones, one of my guests had a call, and she didn't know the number, so she ignored it. He fiance went on to say that it was probably one of "those collectors" who really should leave their name! I went on to talk about my old jobs in collections and my knowledge ofthe laws. As it turns out, they're pretty FDCPA-savvy too! They also knew something I didn't!

The situation was, my friend's ex-husband illegally used her name and ssn to get a payday loan online which he forged her signature electronically! So, not is the debt only fraudulent, it has been repeatedly invalidated because every time she would offer to make payments, they would refuse her payments! Hence, completely invalidating the debt!

I did not know this! She does! And she is winning! The payday loan charlatans are not backing her into any corners at all! She is not being threatened with arrest or any of that crap. Since the debt is officially invalid, no matter how nasty they are, she still tells them to pound sand and there is nothing they can do about it!

There you go guys! Some new fresh ideas to chew on! I hope this helps!

Posted: Mon Apr 24, 2006 6:22 pm Subject:

Tell me if I am understanding this right, if a pdl refuses to accept payments then the debt is invalid? Or am I seeing this wrong?

Posted: Mon Apr 24, 2006 6:29 pm Subject:

That's what she said! They refused her payments, so the whole thing was moot! She still tells them to get bent.

Posted: Mon Apr 24, 2006 6:30 pm Subject:

Especially if the documents were signed electronically! E-signatures make the whole thing even more of a joke.

Posted: Mon Apr 24, 2006 7:11 pm Subject:

There is more and more info that is just showing how illegal the online lenders activity is, from start to finish. E-signatures not being valid, illegal to require ach withdrawals to get a loan...

Posted: Mon Apr 24, 2006 9:02 pm Subject:

Do you know who the pdl company was?

Posted: Thu Apr 27, 2006 7:22 pm Subject:

It could have been any of them. She said her ex-husband illegally used her SSN, I'm not even sure she knows since she didn't volunteer a company name. In Pensacola they are all Cash America and Cashland. Since she also mentioned e-signatures, there is no telling which one it was. The point is this, e-signatures prove nothing, and she was the first to extend an offer to right the wrong, and they snubbed her offer. That is why the issue is moot.

Posted: Mon May 01, 2006 11:57 pm Subject:

What?
What if you've made payments, but the company decided to send your account to an outside collector anyway? Isn't that the same as refusing to accept payments?

Posted: Tue May 02, 2006 12:11 pm Subject:

It will be in the best of your interest to contact the payday loan companies and arrange a payment plan with them. Explain your situation to them and offer them a realistic plan. If you stick to it, the company won't harass you.

Do all your correspondences in writing. This way, you will be able to file everything for records. Keep a follow up over the phone.

Posted: Tue May 02, 2006 6:38 pm Subject:

Thanks for stepping in David! Always a good team player!

Posted: Wed May 03, 2006 8:33 am Subject:

Thanks Ari for the compliment. Smile

Posted: Wed May 03, 2006 6:36 pm Subject:

Anytime. I'm not always 100% about payday loans, so I'm glad to have you at my back, and Tammy too. I am 100% on the FDCPA and am proud to be able to have all your backs when the stuff hits the fan.

Posted: Wed May 03, 2006 7:49 pm Subject:

Since we are discussing PDL's maybe someone can offer an answer to me. If so many of the online PDL's pull all of this illegal garbage and use shady tactics how do they remain in business? I don't mean how come people go to them, but isn't there some type of "watchdog" type of service on the internet that could have some type of control over the dishonesty. I know that the Internet is still relatively new and this might be part of the problem. I would imagine that in the Internet of the future this problem could be eliminated through newer technology. However, in any era of history and technology there is always a criminal element present.

Posted: Thu May 04, 2006 9:49 am Subject:

A lot of these payday lenders present a "Dr. Jekyll and Mr. Hyde" persona. They are a sweet as sugar when you are a borrower, they also approach you online, in your e-mail, in the form of spam with a headline that reads "Get $500 deposited today!". When the going gets tough, their Mr. Hyde side appears and they are as disgusting as can be. They also get around it because they are many and they are scattered throughout the world, and any given Attorney General has so much jurisdiction. Payday lenders that are based outside the U.S. slip through the cracks because they are difficult to trace. It isn't over yet though, they are beginning to be taken down one by one. What really cracks me up is that after you square away one loan, Dr. Jekyll returns, kisses your bottom, and tries to ply you with another loan.