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 Posted: Mon Apr 21, 2008 12:01 am Subject: Caught Between PDLs
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I need some fast advice, me and my husband have 10 PDLs between the both of us. They are all storefront and licensed in Arizona. At 3 of the locations we have loans at the same locations. My husband wants to settle or not pay his loans if he has over paid them. I want to get out of these loans as well but I don't think I can because I work for the bank that I wrote my loans on. If I put a stop payment on my loans I could jeopardize my job. So I advised my husband to do what he has to do with his loans and once he has his under control he can use the extra money to help pay off mine.
My husband thinks that the PDLs were we have loans together will try and hold me responsible for his loans and suggests we do them together.
Can his PDLs hold me responsible if he doesn't pay? I have probably over paid on some of my loans as well but I am afraid of losing my job.
All the PDLs are members of the CFSA so he was planning to ask for EPP on those we have not over paid. On the PDLs he feels were over paid he is planning to inform them that they have broken the law and demand a refund. Can he do that and won't that cause more trouble for me if I decide to still pay my loans?
By the way, his loans were written on a separate bank account from mine. Can the PDLs still come after me because my name is on his account?
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Evette0527
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Debtcc Points: 100
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Posted: Mon Apr 21, 2008 6:40 pm Subject:
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Hello, anybody able to give any advice on my situation?
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Evette0527
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Posted: Tue Apr 22, 2008 12:29 am Subject:
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Hi Evette, I do not know much about storefront pdl's, but I do know someone who does will be along to help you! Hang in there!
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momof1_1990
Joined: 31 Mar 2008
Posts: 95
Debtcc Points: 2043
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Posted: Tue Apr 22, 2008 3:44 am Subject:
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Evette, Here are the laws for Arizona
| Quote: | Arizona State Information
Legal Status: Legal
Citation:
Ariz. Rev. Stat. ยง 6-1251 et seq.
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 5 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
APR for 14-day $100 loan: 459%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: Three (extensions)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: $25 NSF fee + actual charges assessed by the financial institution
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Arizona Department of Financial Institutions
Address: Financial Enterprises Division, 2910 N. 44th Street, Suite 310 Phoenix AZ 85018
Phone: (800) 544-0708
Fax: (602) 381-1225
Regulatory Contact: Robert Charlton,, Assistant Superintendent of Banks
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Storefront pdls and internet pdls are very different and handled differently. Since the pdls are storefront and members of CFSA, they are most likely licensed and most likely charging you according to the AZ law so "overpayment" would not be an issue and they would not be breaking the law. You will need to work out payment arrangements with all of them. If the pdls are in his name, I would not think they could hold you responsible. You did not sign for his. There are quite a few members who work for banks and have been working to get out of the pdl cycle. It is possible. If you want to list the names of the pdl companies you are using, many times our members will have had experience with a particular company and will share their experience.
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RoxyNY
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Posts: 4091
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Posted: Mon Aug 04, 2008 8:42 am Subject: Help with PDL's
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I cannot pay these PDL's due to my company pay reductions. The companies are:
Cash 1
Ace Cash Express
ChecknGo
Moneymart
Speedy Cash
They have hit my bank account after I called all of them and asked not to deposit. they did it anyway and now NSF'd my account by over 600.00. My account is now closed and I only have enough money to bay rent and car payment.etc Barely enough for groceries. What a Nightmare...
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gdjebnar@cox.net
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