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#17
07-08-2008, 04:47 PM
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it's me rthomas, still have not received email to reset password. i don't want to sound silly, but what is the difference between an installment loan and a payday loan? The company advertises as a payday loan company. No matter what I am closing my account ASAP.
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#18
07-08-2008, 05:20 PM
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From my understanding, an installment loan is typically backed by a bank. The company usually breaks your payment down over a period of months rather than you paying it off on your next pay date. They are very LEGAL and sometimes charge an outrageous interest rate. Be careful :?
A Pay Day Loan is a cash advance/short term loan that USUALLY should be repaid on your next pay date. PDLs are not usually backed by a bank and many are not licensed to lend. So many of them are quite ILLEGAL, but NOT all. Do not get confused with the rollovers, renewals, and exstension fees these PDLs charge you. These fees are not intended to be credited to your actual amount borrowed, they are simply just a fee. So even if you paid numerous amounts of these fees, you can still end up owing what you borrowed. This is where most of PDL companies make their money off of consumers  You need to review your contract with this company and look for an actual bank supporting this document. It will be clearly listed on the document naming them the financer of the loan. These PDL companies can be deceptive. Others will be along to give you more advice. Hang in there :P __________________
"We are what we repeatedly do. Excellence, then, is not an act, but a habit." -Aristotle-
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#19
07-09-2008, 10:45 AM
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It's me again, i still have not recieved my password. I have tried to check this company out they go by Advantis Financial. I could not find a license for them anywhere, on the loan paperwork it says "We are Avantis Financial. LLC ("Lender"), a South Dakota LLC, licensed as South Dakota Money Lender". That does not sound to me like they are a bank but maybe i am wrong. Will someone please help me figure this one out before I send them a c&d letter.
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#20
07-09-2008, 11:24 AM
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Try 9 for your password, then once you log in go to your profile and change it to whatever you want it to be.
They don't sound legal - They would need a CA license unless they are backed by a bank. __________________
How I make some extra cash I earn at least $20 extra every month doing offers. And you don't have to pay a cent.
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#21
07-09-2008, 11:36 AM
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Thanks, I was able to sign on and change my password.
I also thought they were illegal, so i will send them a c&d letter as well. I do not have a problem paying these loans back, but now that I am more informed and know that they cannot charge rollover fees due to the CA pdl laws I am so much more informed.
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#22
07-09-2008, 01:17 PM
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That is the way to be!
 Glad to see you can log in! Keep us updated on your progress, and be sure to ask any questions you may have! Good luck!
__________________
How I make some extra cash I earn at least $20 extra every month doing offers. And you don't have to pay a cent.
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#24
07-10-2008, 02:55 PM
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The first number is from Portfolio Recovery, a collection agency. Do a search on them here and you will find many posts on them.
The other number seems to be some sort of solicitation or scam call either for a lottery or to try and get you to make some sort of contribution. __________________
How I make some extra cash I earn at least $20 extra every month doing offers. And you don't have to pay a cent.
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#26
07-10-2008, 03:17 PM
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Hmm . . . . I googled the number and a few hits came up as collection calls, but the rest were for contributions or a lottery scam . . . . Very suspicious!
__________________
How I make some extra cash I earn at least $20 extra every month doing offers. And you don't have to pay a cent.
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#28
07-15-2008, 10:02 AM
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Well, here goes. I have been trying to close my account but have not been successful due to overdrafts and usfastcash today tried to send through a papercheck for $495. Good thing my account was already negative. I put a stop payment on them for the $120 they were deducting bi-weekly so now I am going to have to put a stop payment on the $495 as well. I am borrowing the money so I can close my account tomorrow.
This is a true nightmare, but i am not going to be defeated by these crooks.
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#29
07-16-2008, 04:30 PM
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I closed my checking account today. Woohoo!!! and sent out my cd letters to all pdls. I will wait to see what happens next.
Just to let everyone know, I only had to send out my cd letter to B.I.G twice before they stopped calling me. They were deducting from my savings account and I closed that one weeks ago. So looks like one down. Will keep you informed. :wink:
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#30
07-16-2008, 04:37 PM
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Good Job!!
__________________
"We are what we repeatedly do. Excellence, then, is not an act, but a habit." -Aristotle-
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#32
07-16-2008, 04:41 PM
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Yes you can. Stay positive abd keep us posted 8)
__________________
"We are what we repeatedly do. Excellence, then, is not an act, but a habit." -Aristotle-
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