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#2
08-09-2007, 10:15 AM
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Can I ask why you were wondering? Pretty much everyone is encouraged to pay back what they borrowed, even in states that PDLs are illegal or prohibited. If the PDLs are allowed in a state, people are told to pay what they, including the correct fees that these companies are allowed by law.
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#7
08-09-2007, 12:39 PM
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It is a moral obligation, but the ultimate decision is up to you. many of us have or are in the process of just paying back the actual loan amount.
again, it is a moral issue weather to pay back or not. We make no judgements here .
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#8
08-09-2007, 02:00 PM
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understandable...which is why I am questioning paying them at all.. I know that some of them are illegal which is exactly my point... why should I pay someone when they are screwing people?? I know it is a live and learn type of thing and morally I should pay back the principal amount, but logically I think that I have been taken in by people like this too many times and want to hit them where it hurts....
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#10
08-09-2007, 02:07 PM
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Actually, it depends on your state's contract law wether or not the whole contract is void if part of it is illegal. There have been many court cases that have held that only the illegal part of the contract is void, and the rest of the contract stands. This could vary from state to state.
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#11
08-09-2007, 03:39 PM
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I believe you should pay back the principal and whatever interest and fees your particular state allow. Anything more I don't believe you should pay. If you take a PDL with the purpose of not paying them back anything then you are committing fraud and depending on the amount borrowed it could be considered a felony. Why turn into a criminal because some PDL is being shady.
That is just my opinion, no offense intended 
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#12
08-09-2007, 05:00 PM
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Look at it this way, do 2 wrongs make a right? If you choose not to pay back at least what you borrowed, are you any better than them? You are technically stealing the money like they are stealing money from people, and just because they are doing it, does it make it right for you to do the same thing?
You have to choose for yourself what you are going to do. You are the one that has to live with knowing that you stole that money and by not paying back at least what you borrowed, that is what you are doing. This is how I feel about it, but again, it is your choice.
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#13
08-09-2007, 05:10 PM
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I agree with 2ndband (love your new avatar by the way) and in one of my emails from my DFI office here in Indiana ...it was "suggested" I pay back what I originally borrowed..beside being the moral thing to do...it shows that you are not scaming them...and have been truly taken advantage of.
__________________
If you think you can, you can...if you think you can't, your probably right...
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#14
08-11-2007, 06:33 AM
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I think that morally paying back the principal amount is the right thing to do, too. I sleep much better knowing that I did my part in paying the companies back. As far as their outragious fees are concerned...they can bite me. But since I did use the money that they deposited, I think it's only right to repay it.
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#15
08-11-2007, 07:03 AM
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I battle this constantly. In my mind it is a given to pay back the principle borrowed but then I even stress over the fact I feel responsible for getting into this mess. BUT when I started the spreadsheet of all of the loans and payments over the last 3 years it made me sick. I now have two loans where I didn't pay the principle back yet. Because I had been with these lenders for years I can come to terms with not paying them because of all the interest they got from me over those years. I will most likely have to pay them but I'm not doing it without being asked to and so far I haven't heard from them.
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#16
08-11-2007, 08:46 AM
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I also agree with those who poasted before me...I rather not sink to the level of the pdl's. It is my obligation ot pay what I owe and any legal fees. It was difficult enough for me to come to terms with my situation. The only thing that has kept me sane through all of this (besides the moral support fom the people here) is knowing I have done the right thing by meeting my legal obligations. Even though these companies have gotten A LOT of money from me and I get ill every time I thinkabout it, I am using legal channels which will help myself and others in the long run...again like everyone else, that is just my situation and opinion.
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