Seven PDLs, closed account - what to do?

From what I've read on the boards, Credit Protection Depot is either MyCashNow or PayDayMax. Have you had loans with either of them?

they are also discountadvances

I did have a loan with MyCash Now but it's paid off. Oddly, my statement lists MyCashNow by its own name. Whoever these people are, they will have to contact me by email if they want to get it sorted out I guess.

So many calls to make tomorrow! So many letters to send. I thought I'd send the emails when I get home from work. I'll have some time at work tomorrow to call BBB, FTC, NJAG et al. I'm actually pretty scared but I have to do this. Thanks again to all those here who have helped!

Our pleasure!

Good luck to you, and keep us posted!

$385 is the way I see it as well. Sounds like you are energized to get this job done! This board will do this for you. Please do keep us posted.

By the way, I just read your earlier post a little more thoroughly. I would definitely give a copy of the wage assignment revocation to your employer right away. That way if any of the PDLs decide to ignore it, your employer has already been informed and you don't get hit with any surprises.

And the laws go by the state you live in. It doesn't matter that you work in a different state.

I'm reading all over this board about threats of aggressive action by the PDLenders - garnishment attempts and legal action. I am a bit scared about what I have to go through. Has anyone gone through this process and come out the other side? Especially with 8 PDLs...

The fact is, my account was closed due to fraud, and I'm not getting a direct deposit on Friday, so it seems this is something I have to do. I am willing to work with the lenders I have not already overpaid, even pay some reasonable interest, but only by money order.

Today I will contact the NJ BBB, AG office, and NJ Banking Office. I will speak to my CFO and give him a copy of my template letter. Tonight I will email customized versions out to the PDLs, to both the admin addresses from the website and the ones provided earlier in this thread. I will then give copies of each to my CFO.

I am almost trembling, expecting an eightfold unleashing of fury. One of these loans is brand new. (But the likely source of the fraud). Anyone who has been through this, please post your results.

Thanks.

It will work out for you, there are tons of success stories on this board. Keep your chin up, you are doing the right thing, and keep in mind, YOU are following the law, these pdl's are NOT, they made their beds and now they need to lie in it. Just stay strong and continue to do what you are doing.

I've just spent an hour on the phone with various state agencies. It seems that nobody knows much about PDLs. The NJ BBB did not know they were illegal in the state! The NJ Dept. of Banking and Finance just issued me a ticket number and said they'd get back to me in a few hours.

I will simply use the websites they have to file the complaints. I have eight PDLs, and three or four agencies to send to - that'll be 24 or 32 separate complaints. I plan to do this tomorrow so I can send copies of the C&D.

Next is to go upstairs and see the CFO about my plans to revoke any wage assignments. Then tonight I will email all eight PDLs the C&D, customized for each. Looking at the letter, it calls for an account number, but all these lenders use is my SSN. No harm giving them that again.

ASI was typing, the NJ Department of Banking called! PDLs are illegal and they want me to file eight complaints. They gave me an address to send them to. "Enforcement Division - NJ State Department of Banking" is going on the CC at the end of the letter. Looks like a good start!

Definitely a good start!! Keep up the good work!! One step at a time and you will get there!!

I just got back from talking to my company's CFO. He told me it would take a court order to garnish my pay, and since the PDLs are illegal in NJ I don't think it will come to that. I hope not!

It feels like I got a lot of pieces in place. Tonight I "drop the bomb" via email. (I'll mail printed copies out over the next two days, return receipt requested, yes?) Thanks to a previous poster I have addresses for 6 of the 8 lenders. If I can't obtain addresses for the other two I suspect they will be contacting me! I stress again I have every intention of repaying all principal so far unpaid, and would even pay some reasonable interest to get these people off my back.

This process takes a lot of work and energy. But I am grateful to have found a place with so many helpful people. Thanks again to all of you.

Shazzers, if you're here, in another thread you mentioned sending a Validation letter before a C & D. Does this apply to me?
Thanks.

Good for you!! Keep up the good work and you will be pdl free before you know it!!

So I guess I don't need a Validation letter!

I've been reading in other threads where the PDLs claim that my state laws do not apply to them. What do I do when I get this response?

Thanks again!

Oops, I was Guest just then.

Must join forum!

I have just joined the forum officially and am now chroma601. I am still somewhat Troubled in NJ but things are looking up.