Internet's first get-out-of-debt community - 122,000 members

Guest19 · Posted: Fri Apr 04, 2008 4:37 am Subject: My attorney laughed at payday loans!

I currently am in the process of declaring bankruptcy. Yesterday, my attorney told me that he thinks I should try credit counseling and a debt consolidation group instead of bankruptcy. I am sitting there shaking in my shoes completely scared that all these defaulted payday loans would show up on my credit report. NOT EVEN ONE THAT WAS REPORTED TO A COLLECTION AGENCY DID. He laughed at the payday loans and told me to quit talking to them and they will eventually go away. He said they can't do anything to you.. they cannot garnish your wages in PA and they are all lunatics. I hope this helps for ANYONE that is in trouble with them. He said that they can't do anything to you and ignore their craziness.

Posted: Fri Apr 04, 2008 4:40 am Subject:

They can however send a wage assignment , if you have not revoked any that you may have signed. No one can garnish your wages anywhere without a court order.In the state of PA, a pdl is considerd legal if it is licensed anywhere, so you do need to be careful. Ignoring is not always the best plan of action, as you can get into a bit of trouble. Store fronts are also handled differently than internet.

Posted: Fri Apr 04, 2008 4:59 am Subject:

Guest, as Kash stated you do need to be careful. If it was as easy as what your attorney told you, this fourm would not exsist and none of us would be here, we could all default on pdls and walk away. Many of us here, through our experiences know this is not the case and your attorney's statement is incorrect. There are many members on this fourm who have had negative entries on their credit report from an internet pdl or have had a pdl find them and debit their new account or have had their case turned over to a collection agancy, only to be harrassed by them as well. Each and every situation is different and as Kash stated, internet and storefront pdls are handled differently and in many cases, the laws are applied differently. Your attorney may want to check with the PA Department of Banking before he dispenses that advice again. It appears they have a different perception on the matter...

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Posted: Fri Apr 04, 2008 5:33 pm Subject: pdl

On my credit, it's NOT the ACTUALLY PDL that is 'negative, it is the CA that is collectingfor the PDL, that is on my CR. I thought PDL's were illegal to report to CB's?

Posted: Fri Apr 04, 2008 6:04 pm Subject:

Sd, there have been several members who have posted about being reported to CB's over pdls. They disputed the entry with the CB. It took some effort but it was removed. I know Cannr was one member who went through this. I am sure if you pm her and ask, she will tell you exactly what she did.

Posted: Fri Apr 04, 2008 7:50 pm Subject:

Your attorney (?) said to ignore these pdls, not talk to them, and eventually they will go away?? Huh? Is your attorney aware that the state of PA will "allow" internet pdls if they are licensed SOMEWHERE? This means that it would be considered a legal debt. A legal debt that can be collected upon. Now, I know storefronts are prohibited in PA; however, licensed internets are "allowed". Is your attorney aware that these pdls can legally collect this money? Is your attorney aware that the collection agencies for the legal pdls can/will report to the credit bureaus? Is your attorney aware that these pdls can sometimes track down new bank accounts and debit without your knowledge until it is too late? I know all this has been posted above; however, seeing it in one place might make you ask your attorney these questions. He might want to brush up on the pdl law of PA. Maybe he would like to get in touch with the Regulatory Contact: Jim Keiser Administrator of Non-Depository Institutions?

I do hope that others in PA who are reading this realize that this attorney apparently does not know all the facts. We check the state law, we email the state agencies to find out how internet pdls are handled, etc. Does this attorney do this? I would think "no".

Posted: Mon Apr 07, 2008 7:03 am Subject:

I can't believe any bk attorney would recommend to a client to just ignore their debts!

Posted: Mon Apr 07, 2008 10:24 am Subject:

This is all so confusing to me.

Posted: Mon Apr 07, 2008 10:38 am Subject:

What exactly are you confused about? Maybe we can help . The point here is that someone was told to ignore their pdls, when in fact that could lead them into a lot of trouble.

Posted: Mon Apr 07, 2008 10:42 am Subject:

It's just confusing that an atty would tell someone to ignore their debts, knowing that a person could get into trouble. I know it is different from state to state and I have went to the sticky that explains the differences. I just thank my lucky stars that none of mine were licensed anywhere!

Posted: Mon Apr 07, 2008 1:28 pm Subject:

I think this lawyer probably thought that since pdl's are prohibited from being physically located in PA, that all pdl's were illegal.

Most people don't know much about payday loans. But for any lawyer to recommend to a client to not pay a debt is just wrong.

Posted: Mon Apr 07, 2008 2:32 pm Subject:

So if the atty thought that the IPDL's were also illegal would he have been correct by his statement?

Posted: Mon Apr 07, 2008 2:47 pm Subject: reply

only if he advises them to talk to the pdl about the BK,and to give the attorneys #.that is only when they made the commitment to bankruptcy.

DDT · Posted: Wed Apr 16, 2008 5:37 pm Subject: Wage garnishment/assignment

Depending on the state the only garnishments that an employer can take out of your check is Federal and State Taxes, Child Support and Student Loans. My advice is to contact your payroll department asap and find out what a payday company can or can not to in regards to your wages.

*Name:
*Email:
*Phone:
*Zip:
Debt

	* denotes required field

Internet's first get-out-of-debt community - 122,000 members

My attorney laughed at payday loans!

Members Area

Free Debt Counseling

Ask the community

Featured Discussions

Featured Articles

Question of the Month

Useful Links

Recent Forum Discussions

Recent Blog Post