Has Anyone NOT paid the PDLs No Principal OR Fees

The co I work for deals with about 1000 store fronts and over 200 internet merchants. I have coded loan documents myself for internet merchants. What you may be referring to is a LEAD Provider that takes your info and sells it to a PDL company. but if you go directly to the merchants marketing website then Yes they do have loan documents. And they are not that easy to be fly by the night. It takes a considerable amount of money to even get an ACH account going to give a lender the ability to credit and debit funds. I work in the short term lending industry dealing with storefronts, IPDL companies, installment plans, CSO's etc. I have coded loan documents until my eyes were about to bleed for webistes with the thought in my head of "Whats the point, no body reads this" After all, Most LEGAL companies do require you to submit an Esig and these are generated on the loan documents. And I was not referring to Banks as far as lending. I was referring to other STL's. And teletrack is not the only ones anymore. DB Bureau is a big one now. they report far more info then you would think. They will even alert merchants if you live in a "Hot address" or have too many different SSN's reported against your account. I work in this industry and if you have any questions please ask.

No, I'm not referring to the LEAD companies...I am referring to payday lenders. .

If it's not that easy, why are there so many of them operating illegally?? I would say it's pretty easy for most of these illegal companies to start an ACH operation, considering the exorbitant fees they charge on their paltry $200 and $300 loans.

And trust me, they CAN be fly by night - they aren't licensed anywhere - that's how they do it. They operate from other countries and lend illegally into our country. I would think you would have been aware of this phenomenon, being in the industry.

If these "merchants" you are referring to are payday lenders, again, if you don't intend to get back into the payday or short-term lending cycle, it shouldn't be a problem. They still don't report to your credit report. And if someone is reporting multiple SSN's against their account, I would think that might be considered fraud - unless I'm misunderstanding your statement.

Thank you, suebee! Our friend Christy keeps "skirting" around the issue of unlicensed/illegal pdl's. I don't care what she calls them (merchants). She never addressed the issue of them not being licensed to do business - period. Friend Christy, what about the overseas "merchants" who are lending illegally and using US "drop boxes" as an address? What about the "merchants" who use "verbal agreements" regarding loans? Should we have read the fine print on those? The verbal fine print? HELLO! What about the "merchants" who have 14 - 20 different addresses because they move from one location to another in a matter of months? What about the "merchants" who has all mail returned back to the customer as "moved left no address"? What about all of these? I don't give a crap if you code shit until your eyes bleed. Explain all of the above since you seem to be so "into" pld's.

I just wanted to update on my previous post. The two companies I still owed principle with finally contacted me. Both of them were dba's of MTE, I have been with both of them for years and both of them made agreements where what I had paid went straight to principle and all I owed was the remaining principle. I had already paid off the first one when the second one contacted me. I owed a bit more and countered with a chance to have two paydays to pay them back and they agreed. I feel good about this - I never intended to take the money and run. I fell into the PDL hell with the best intentions but over time I was on the path of destruction. I knew the interest and fees but like many of us I'm sure I was going to pay it right back so the fees weren't going to be an issue - but that never happened and soon I was borrowing more just to make the payments. I had things timed that just when the house of cards was going to tumble I would have two or three paid off so that I could get new ones. Eventually even that didn't work but their would be a tax refund or birthday money or medical cost reimbursement that would get me through without having the utilities shut off or an eviction notice on my door. Then came the day that I just couldn't take it anymore and I found this site. Now I have 11 PIF's on 15 PDL's and my life back. We need legislation to protect us from ourselves - you know many of these places have us in a database (MTE comes to mind) They should not be allowed to give someone multiple loans with these fees. How many times were you turned down and then just googled some more and tried some more until you found one that approved you? That is what needs to be stopped. (for a start) (rant over)

I have been reading Christie's comments and I have come to the conclusion that Christie works a company like E-Care Contact Centers. They handle the lead generation and the IPDLs such as Payday Avenue, Cash Transfer Centers, Sonic Payday, etc.

She is probably working there because she can't get another job. They pay their employees just over minimum wage and she is based out of B.C. or Winnipeg, Manitoba.

Thank you, PDL. I second that opinion. Christie can go back and tell her "boss" she's been on here trying to "help us understand". Oh, please............

Not quite, See, these type of companies are there when you need $300 and nobody else will give it to you. Not even the bank that makes money off of you but when it comes time to paying it back then everyone cries. Nobody forces you to take out multiple loans. Why in the world would you ever enter into a verbal agreement with anyone and turn over your banking info, give out your employment info etc? If you are going to borrow, then borrow SMART. Take ONE loan, do not roll it over and take out another one. Do not borrow what you cannot afford to repay. Why is "everyone" skirting THAT issue?

Minimun wage? Not at all but then again, I am not the one in debt either.

And I already stated that I am very familar with the ones based in the US. I am not aware of one company based overseas nor would the industry I am associated with even touch those. Our company does as much as it can to assist these PDL's in being as complient as possible.

All I'm going to say on that point is if people were able to follow that advice you would be out of a job and PDL's would be a non-issue because since it wouldn't be a lucrative business it wouldn't be around anymore. Do you honestly think that PDL's form with the intent to be there for those with poor credit to help them with $300 for the low price of $90? I think not - they intend to make thousands on their $300 "investment" and most times they do.

Christie, WTF? I don't quite understand why you are even on this site. What is the point? To argue with the members here who so obviously disagree with you? To argue your point that pdl's are "pure and innocent"? And to judge people that you don't even know the situation or all the facts? How about the people who have an emergency arise? Let's say a sick family member who needs immediate care and they have no money? Let's say a person who has had a family member die and didn't have the money to pay for the expenses? Let's say a person who had no way to get to their job and no where to turn for money? Who are you to judge anyone for why they took out a loan? You have no idea of anyone's situation or circumstances. You know nothing. Christie, until you walk in these people's shoes, you should shut your mouth. Until you have lived the lives of these people, you need to keep your opinions to yourself. Here at this forum we do not judge people. We help people. If you are here to justify illegal companies taking unauthorized debits from people's bank accounts, then you've come to the wrong place. What about the people that have paid off their pdl's, only to have the pld's hit their account again for the full amount - getting twice the money back? What about that? You do not know all the facts, but yet you feel free to give your opinions.

See everyone misses the point. Like you said, people have had to take them out on an emergency basis. So it was there when they needed it. But because they charge a high fee that means that they should not have to pay it back? Who started judging people first? I was very polite up until that point. Of course these companies are in it for money. Who lends money for FREE? Please tell me because I really could use a loan. Oh and if all the PDL companies went out of business I would still have a job. There are still store fronts, check cashing, title loans, installment loans etc. I have never justified illegal companies taking debits from accounts. Show me where I stated that please? All I stated was IF YOU AGREE TO BORROW $300 dollars and pay back $375 then you should TRY to honor that agreement. I am not on a SIDE at all. I have read many topics here off and on with companies I am very familar with and even pointed them to a thread here and there to make them aware of what people think about them hoping they would listen to consumers. But you know what, consumers have to hold some accountabilty also.

I would not throw a blanket statement over all STL companies.

Are there illegal ones out there that will continue to make your life hell over $300 dollars? YES

Should they be put out of business? YES

Should you fight those?? YES

Are there ones operating within state laws? YES

Should you try to pay those back? Yes

Should a blanket statement be made over the short term lending industry that they are all crooks and all be banned? NO. Then where would those people who need money fast go for a loan?


Oh and I have needed loans in the past but I was never sure if I really could pay back $300 in two weeks so I never took out the loan. I am leery of giving anyone access to the same checking account that my pay goes into and my bills go out of.

Christie, forgive me if I have taken your responses the wrong way. I, personally, get a little defensive only because of the illegal pdl's. And I do apologize if I gave the impression that you were an advocate for them. I see that you understand the illegal ones are illegal and worth fighting over. That was my main point. And, I'm not going to "bash" your job at all. That was not my intent. However, I do wonder why people in your business come to these sort of debt sites and pour over information. Please explain to me why this is. Is it to get a "heads-up" on what customers are doing? I'm curious. You are not the first and you won't be the last. It makes us put up our guard when a "guest" comes and posts and tells people to "just pay your loan".

Actually I was googling a "client" and came to this forum. It is not the first time I have been here and I am all for fighting for the consumer. However, this thread posted by the OP seemed to give the "impression" of taking out a loan and just not paying it back. You may be hurting a company that is actually performing within legal rights due to a blanket statement or a blanket image over short term lending options. I read another thread about someone getting loans in NC and then sending a letter stating that they did not have to pay it back due to loans being illegal in NC. Being an "Internet" lender a lot of people slip through the cracks. You are dealing with call centers handing tons of applications a day not to mention lead providers giving incorrect information at times or missing information that can allow these people to slip through. Does that give you the right to hit each company and then get your loan written off? Is that not some type of fraud itself? Once someone alerts a lender that "Hey, I live in NC and you cant lend to me" then most LEGAL US lenders will then block consumers from those states. In order to help people get out of this cycle they also need advice on how to not get back into it. Not a bunch of legal jargon to relive them of obligation. I actually came here to offer advice on some companies that I am aware of but advise here on out will have to remain as a "guest" and under another alias. After all, I have a family to support as well.

Completely understandable. And you have some good information. I will say though, that we do advise anyone who took out a loan, even if finding it illegal, to pay back what they borrowed. After all, they did receive the funds and used the funds. Now, for the person who refuses to pay a dime back, that's not for me to judge. I just want to clarify that we do advise people to pay the amount back that was borrowed. The issue of paying or not paying comes up quite often. Some people choose to not pay at all. However, the majority choose to pay back what they borrowed, even if it was an illegal loan. If we find that the company is licensed/legal, we do advise people that they must abide by the laws because the company is licensed/legal. I just wanted to clarify that. This is not a place where we advise people to not pay back any money. That is not the case at all. Whatever an individual decides to do on their own is nothing we can control. Christie, if you have been on this site before and poured through threads, I'm sure you've noticed not just the "negative" things, but the "positive" things as well. Such as posting state laws for people who don't know them. Or informing them of which company is licensed or unlicensed. It's information that people are not aware of until they are in "the cycle". I do hope that you've noticed that and not just the negative issues posted.

Christie - If you were to read some of the threads in this forum, you would see that anyone that has a legally operating pdl company is told to make arrangements with them to pay off their debt. The only companies we tell people to fight are the ILLEGAL ones.

These companies are NOT members of the CFSA (wich you can't even spell right).

I totally agree that NO ONE should take out a loan knowing it is illegal just to screw the company and not pay it back. That is fraud to me and those people should be arrested. I always tell people that even with the illegal loans they should pay back principle.

I have no problem with companies that are following the law, and lending legally. I have a problem with the companies that are illegal. The ones that tell a single mother that her children will be taken away if she doesn't pay $1000 by 5pm, the ones that tell people the police will be at their work in 20 minutes to arrest them for theft, when they've already paid $800 on a $200 loan. These companies are vultures and need to be stopped.

I would also like to address the issue you brought up of people taking out multiple loans. I beleive this is due in large part to the pdl companies not telling people of any options. They will tell you that if you cannot pay on your due date, that they will get you for a bad check. So what would most people do? Get another loan to pay that first one off. After all, most people think more debt is better then a criminal record. It's all a matter of education. If more people were educated as to what their options were, they would not feel so much pressure to pay off one loan with another.

I would like you to stick around. If you feel the need to post as a guest, that is your choice. But you don't have to submit any personal information to register.

Licensed companies or not, people should avoid them all. To me, a license changes nothing in how I view them. Crooks with a license is just the same as one without one.

And Christie...I might add...we are trying to educate ourselves and others how not to fall into payday loans...if you look over our blogs you will see that many of them concern finance and how to make ends meet, living within your budget, etc.