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 Posted: Mon Oct 29, 2007 7:22 am |
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I am in illinois and i have looked at the laws, but i can not find out if they are licensed or not. I don't know what else to do. They have threatened to garnish my wages. I am now being contacted by pmd or pdm not sure. I talked to them and even sent the a copy of my statement showing that i have way over paid them. Not much help though! I am not positive about the names i have recieved emails under several different names its like they are operating in several different names or something. Are these companies licensed in my state. And what else can i do.
1. Midland Marketing $300 LOAN PAID THEM OVER $500
2. TJF CORP
3. SMJ
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qrtrms
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| Posted: Mon Oct 29, 2007 7:31 am |
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qrt, I am going to post your laws so you and everyone else can look at them
| Quote: | Illinois State Information
Legal Status: Legal
Citation:
815 Ill. Comp. Stat. Ann. ยง 122/1-1
Loan Terms:
Maximum Loan Amount: lesser of $1000 or 25% gross monthly income
Loan Term: 13-45 days
Maximum Finance Rate and Fees: $15.50 per $100
Finance Charge for 14-day $100 loan: $15.50
apr for 14-day $100 loan: 403%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Two
Rollovers Permitted: None (cannot rollover)
Cooling-off Period: 7 days after 45 consecutive loan days
Repayment Plan: Yes
Collection Limits:
Collection Fees: One $25 NSF fee (Presentment limit = 2)
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Illinois Division of Financial Institutions
Address: Consumer Credit Section, 320 W. Washington Springfield IL 62701
Phone: (888) 298-8089
Fax:
Regulatory Contact: Phil Sanson,, Acting Consumer Credit Assistant Supervisor
Regulator Website
http://www.obre.state.il.us/default2.htm
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RoxyNY
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| Posted: Mon Oct 29, 2007 7:57 am |
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qrt, We can help you. All of us have been where you are. Do not be scared they can not garnish your wages without a court order and it also depends on your state laws. Would you list how much you borrowed from each and the total of what you have paid back to each company. You need to do a letter to each company revoking any wage assignment you may have signed and fax, email and send it. All it needs to say is I hereby revoke any and all wage assingments I may have signed, and sign your name. Several companies have this in their contract so revoke it just in case. I checked the license database for your state and none of your companies are listed. And yes, the companies will debit or e-mail under different names. The other important order of business is your bank account. If you have not doen so already you need to close your bank account or atleast put a hard debit block on it so the companies can not debit your account.
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RoxyNY
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| Posted: Mon Oct 29, 2007 7:57 am |
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I dont mean to soud stupid, but i really don't understand them. I just don't know what to do. I know i have over paid 2 of them, there was a couple of times they even took out more than every other week. But i tried to set up a payment plan to just pay it to them, they would not except a payment plan though.
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| Posted: Mon Oct 29, 2007 8:04 am |
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You do not sound stupid. This stuff can be very confusing. We will help you along the way. Please though, be sure your money is safe.
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RoxyNY
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| Posted: Mon Oct 29, 2007 8:15 am |
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Guest, this is the best place to be for information. I have received lots of help and loads of information here. All of these ladies and Gents are very knowledgable when it comes to PDLs. I will be the first to admit that this stuff is overwhelming and very scary. But I listened and took all the advice and these illegal PDL companies will work with you on your terms...just be persistent!
Hang in there and listen and do as they say and you will find yourself on your way to PDL freedom!
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ginahill
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| Posted: Mon Oct 29, 2007 8:23 am |
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roxyny (you had stated that you checked and none of them are licensed in my state, but i just called a number from the attorney generals website and a lady told me that the midland marketing & the pdm associates that is calling me now was a domestic corporation in good standing. Could she of pulled up something else.
As for the checking account it was closed a couple of weeks ago. I filed a complaint with the BBB last week but i have not heard anything back from them. Here is a list of what i have paid to them.
Midland Marketing: $300 Took loan June 29th, first amount of $90 taken out on July 13. I know for sure i have paid them $540 total
TJF Corp/ Bahamas Marketing, corp; $200 Took loan August 31. I am not positive, but i do believe i paid them $240 total
SJM Marketing, $200 I am not positive the date i took this loan out, i believe it was Sep. 7, i do believe i still owe them a small amount, in which i have not been able to get them to return my emails.
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| Posted: Mon Oct 29, 2007 9:10 am |
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Qrt, Yes she could have or I did not look correctly but I did look on the Pay Day Loan section under your states licensing and none of them were listed. She told you they were licensed? as a PDL? BBB will usually take awhile. You also need to file complaints with the IL Division of Financila Instititons. Did you do the wage assignment letter?
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RoxyNY
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RoxyNY
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| Posted: Mon Oct 29, 2007 4:11 pm |
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Are Midland and PDM collection agencies? That might be the case. Sure, they may have turned you over to collections, but for an illegal debt. Are these the names of your pdls or the names of collection agencies?
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cannr
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| Posted: Mon Oct 29, 2007 5:15 pm |
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I do know that SMJ is an internet pdl. I had one loan through them. Not sure if they are legal or not, but they were decent to me when i first defaulted and tried to sort things out.
Have faith there are many good people here to help and guide you through this. It feels like the world is crashing, but believe me it gets sooo much better:)
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i2bcsi
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| Posted: Mon Nov 05, 2007 1:21 am |
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Removed per TOS - Goudah
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Mr Blair James
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