Seven PDLs, closed account - what to do?

Well, that is a first. It will be interesting to see if they even respond to the complaints you have filed. Most of the pdl's do not...

I am eager to repay the principal, but they are mum on that. Odd...

Time for an update on my case. Upfront Payday is still calling every few days, telling me in a recorded message that if I don't respond within 48 hours I will go to collection. I have heard nothing from East Side Lenders since my last post.

I suppose it's time to resend the certified letter to Upfront. I guess all I can do with East Side is wait. Everything else has been quiet.

Thanks again to the people at this site who have been such help. My next step is to get going clearing out my credit card debt. I'd been waiting for the other shoes to drop on the PDLs.

chroma601

I need help with finishing this letter to send out. The part where it states the following:

The legal amount that could have been charged to my loan is the principal amount, even IF your Internet pay day loan were legal anywhere in the U.S.. I am willing to pay the principle amount of the loan only, however, this is only if you provide me with a physical address where I can send payments.

Do I need to include this. I feel like I have overpaid. I borrowed $300 from both of them and have paid to Paydayonline $630 and Loan Shop Online $720.

I need help with this part!

I would delete that paragraph and instead just tell them you want a PIF or a refund, since they are not legally allowed to lend and you have paid way more than you borrowed.

Thank you! What does PIF stand for? Sorry to sound so dumb at this. Again thank you for your help.

PIF means Paid In Full. And welcome to my thread!! We're all in the same crazy boat here.

chroma is there a step by step process, or list of some sort found on this website that you used as a guide to combat these PDL congrats on your success so far btw

It ain't over till it's over! Please feel free to peruse this thread as it does kind of make the procedure evident. The people here, particularly Alias and Roxy, were incredibly helpful. It's vital to get complaints filed with your state banking authority/AG/BBB. The most vital step is closing your bank account. And every PDlender gets a certified C&D letter.

I was also lucky because I'm in NJ, and PDLs are illegal here. They go to bat for you just by being listed on the complaint.

Just start your own thread and people here will help you through it. In your opening post, list all your PDLs, amount borrowed, and amount paid. Tell us your state. There are links embedded throughout my thread that can help you too. There are templates you can use to base your letters on. Good luck!

Credit Protection is a DBA of MyCashNow.com

Please see my post for HELP IN PA.
I haven't reveived any responses yet...time is closing in on my next due date...please please help!

Please see my post for HELP IN PA.
I haven't reveived any responses yet...time is closing in on my next due date...please please help!

Close your bank account at once. Open a new one. Write each PDL a letter similar to what I posted, except I don't live in PA, so look here: http://www.paydayloaninfo.org/state_detail.cfm?id=PA

Note that PDLs seem to be more legal in PA than NJ, but odds are they are exceeding the small loan cap. You might try a search here for Pennsylvania.

Hello I have been dealing with the same issue as many above.
After some research and reading I discovered the Indiana payday regulation. Of coures I have found this information about year to late and have paid thousands of dollars in interest on PDL's that according the Indiana PDL regulation were not legal in the state of IN. So I started contacting many as yes I had many PDL's outstanding and after e-mailing them many times quoting INndiana PDL regulation on rates etc. and sending copyies of such laws and lots of sticking to my guns. All but two companies have back-off and made my accounts PIF. The two companies I am having trouble with are MTE Financial and Little Loan Shoppe. Both companies have paid way way more in interest pat then the orginal loan amount.
Does anyone have any advise on these two companies.
Yes MTE today told me they are now turning me over to some collection agencey. I have paid them alot of money in interest so far so I feel and think I only owe them nothing.

Thanks
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I am also having similar problems only my payday loans are store based not over the internet. I have three of them but they are depleting most of my paychecks which is making it hard for me to pay my bills. How can I get them off my tail. Can they accept partial payments for me to get them paid off. Oh and I also live in Ohio where they just passes strict laws on payday loans.

I live in kentucky and some of the payday stores here will let you make payments. The way they do it is send it to the bank as nsf then the checks comes back to them. Then they set up a payment plan for you. It won't hurt to ask.