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tlw · Posted: Fri Apr 25, 2008 5:48 am Subject: Looking to start from a clean slate...

Hi All...

I browsed this site a couple of times and it has many resources and is legit...

I have gotten myself in a PDL mess during a transition in my life and need some assistance to know what to do next. I dont know WHY I got these loans, but now they are here and I have to pay them back, but I know I am in over my head.

Here are the PDLs I have:

Sagamore $200 ($60 fin.)
Ashland $200 ($60 fin.)
PDL Yes $350
SGQ Ltd $300 ($90 fin...I dont even know HOW I got this one and think it is a scam!)
Arrowhead Financial $200So, in total, that is TOO MUCH...I dont even want to add it up! Sad

I have not paid on them yet...and they just became due today. I am in the state of Arkansas

MY account is in the red over $700 and I just want to get out of this mess and begin to rebuild my credit. I could go into a long spill, but it is really draining...I just need to know what to do next.

Thanks so much in advance for your help AND for this website!

Meka

Posted: Fri Apr 25, 2008 6:06 am Subject:

Hi-

I am assuming all your PDLs are internet ones because Arkansas law states that the fees can be no more than 10% of the original loan amount + a $5 set-up fee, and your finance fees are all well more than 10% of your loan amounts.

Did you say you haven't made any payments on any of these yet, and today was the first day any of them debited your account?

According to your state's laws, PDLs are legal in Arkansas, but they MUST be licensed in Arkansas to lend. More than likely these are all illegal PDLs, but some others here are probably more familiar with these particular companies than me and can give you a straight answer.