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Posted: Wed Jul 16, 2008 1:24 pm Subject: PDL NEED HELP

Sorry if this is coming up in other places, I'm new to this. Can anyone tell me how to find out if a PDL company is legal? I am paying between $400 and $540 every two weeks and I can't get it to stop. Help!!

Posted: Wed Jul 16, 2008 1:33 pm Subject:

First of all we need to know what state you are in, the name of the company, is this an interent pdl or storefront pdl? How much did you initially borrow in principal and how much have you paid back? Answer those questions and someone that has tons more experience than I will help you. Welcome to the site by the way.

Posted: Wed Jul 16, 2008 2:20 pm Subject:

Welcome! I posted this on your other post so I am copying it over to here so you can get some additional info.

I can tell you right now PDLs are prohibited in NYS. That is where I reside and being a resident of this great State does have an advantage when dealing with PDLs. Jen has requested some info that will help us help you so please try and post it ASAP. First and foremost, you need to run to your bank and close your account. It is the ONLY way to keep your money safe. Which three of your PDLs carry the same number? I can tell you right up front ameriloan is part of MNE and I have dealt with them but I did get rid of them pretty quickly. Go ahead and post that info. Hang tight and help is on the way.

Guest · Posted: Thu Jul 17, 2008 6:24 am Subject:

Thank you everyone! Here is the information that you requested.

All loans were for $300

NLS Paid back $429
NHCash paid $412.50
ameriloan paid $450
Midland Financial $360
CMS Group $360
SSM Group $480
MW Marketing $360

These were all done on line in NYS

Midland, SSM Group and CMG Group all have the same phone numbers. I put stop payments on these. My bank issued the stops by the companies names not amounts or form and has someone watching the account. I check it daily as well.

Thanks again!!!

Guest · Posted: Thu Jul 17, 2008 6:26 am Subject:

The above post is from Kalja24 Shocked

Posted: Thu Jul 17, 2008 7:03 am Subject:

Well, it looks to me that if all your loans were for $300, you have more than paid your dues. However, I do worry about your bank account. These guys are notorious for putting through debits under different dba's. If that doesn't work they will produce a paper check. Is there any way you can just close the account and start over? Also, have you sent out a C and D letter to these guys? It will cover any and all aspects of the loan particulars that you had signed with these slugs. You owe absolutely nothing to any of these PDLs. You have overpaid on all of them but to get them to stop you need to send that C and D letter, which you can find in the do it yourself section at the top of this page. If you don't they will continue to debit your account forever. And again, the only way to really stop the debits is to close the account they have access to. Give it some thought. Good luck and keep us posted on your progress.

Posted: Thu Jul 17, 2008 7:56 am Subject:

kalja, llw is sooo right. Just putting a stop payment on these pdls will not work. They will change the name, the dollar amount, the date, etc. As llw stated, they will put a check through if they can't do an ACH. They will try anything and everything to get money from you. Is there anything preventing you from closing this account? Or at least putting it on a hard debit block?

Guest · Posted: Thu Jul 17, 2008 8:11 am Subject: PDL NEED HELP

from Kalja24 - first off, I'm doing something wrong when I attempt to post a message.LOL When I put in a username it tells me its already taken???

I'm going to call the bank today and work on closing the account out. After hearing how these jerks work, its not worth the risk. I was also wondering, when I send out the C&D letters should I tell them that I have overpaid them and request a license from them, which as I understand, they will not have?? Thanks again.

Guest · Posted: Thu Jul 17, 2008 8:12 am Subject: PDL NEED HELP

from Kalja24 - first off, I'm doing something wrong when I attempt to post a message.LOL When I put in a username it tells me its already taken???

I'm going to call the bank today and work on closing the account out. After hearing how these jerks work, its not worth the risk. I was also wondering, when I send out the C&D letters should I tell them that I have overpaid them and request a license from them, which as I understand, they will not have?? Thanks again.

Posted: Thu Jul 17, 2008 8:26 am Subject:

You can use a template letter from this site which will cover pretty much every aspect of your loan contract or you can draft your own. Don't bother asking for a license. They are illegal here and you won't need it wouldn't need it anyway. You could mention your overpayment, but I am not sure that it will make a difference but it never hurts to try and recover your overpayment. But please, please get to the bank ASAP and DON'T, repeat DON'T send the C and D letter until the bank account is secure. If they get wind of it's closing, they will empty it out. Good luck. Keep us posted.

raveyn06 · Posted: Thu Jul 17, 2008 10:37 am Subject: my two cents

Last week, thanks to great advice on this board, I made arrangements with PayDayOne.
Yesterday, the "compliance department" at ameriloan was kind enough to settle with me on my debt.
I feel like finally I am on the right path!!!

Posted: Thu Jul 17, 2008 10:41 am Subject:

Congrats on your accomplishments! Isn't it a great feeling to know that you are on the way to being PDL free? Before you know it you will be done with all of them. Keep up the good work and keep us posted on your progress.

kalja244 · Posted: Thu Jul 17, 2008 10:45 am Subject:

Thats great to hear!! I am curious about the ameriloan as I also have one with them. Did you end up paying them more than your original loan? My loan was for $300 and I have paid them $450.

Posted: Thu Jul 17, 2008 10:49 am Subject:

I had an ameriloan debt and after I filed with the BBB they settled for the original amount of the loan. Fortunately for me, when I came here, I had not overpaid any of my loans. You could certainly ask for the refund, but chances are you won't see it, but then again, miracles do happen! Once that C and D letter is received, and your bank account is closed, I think they'll get the hint that they are not getting anything additional. Go ahead and ask for the refund.

Guest · Posted: Thu Jul 17, 2008 10:50 am Subject:

Should I be concerned that payments were returned to NLS because I put a stop payment on it, and I have not been contacted by them? a couple of weeks ago my account got overdrawn from these fools and when there payment was returned for NSF they called me right away....

Posted: Thu Jul 17, 2008 11:50 am Subject:

I know it's scary, becuase I just recently went through it myself, don't give up and don't give in to them. And most importantly, do NOT let them intimidate you!!

llw stated they are all illegal in your state. When you send out that letter, do what I did. Tell them that you KNOW they are illegal, copy the state laws to show them you know what your talking about and that you mean business.. Post on each email that you have over paid your original debt and post the amount you've overpaid. Tell them that you want a refund of the amounts overpaid (that doesn't mean you'll get it, or that they'll even consider, but it's worth a shot). Tell them that you will be filing a complaint with the attorney general, and when you do send the letter off to the AG, copy the pdl company, their processor, and anyone else you can find who is involved with them. I called it a "Carpet bomb". I think they are most moved to act when we show that we are not afraid, and we know what our rights are and what the laws are. Smile

If I'm wrong correct me Very Happy

Jen

edit>> I almost forgot, I would seriously look into closing your account and opening a new one. If they think they have a clear shot, they'll take it. You can do it. I did it in 38 days Very Happy

Just got my last PIF two days ago.
Very Happy

Jen

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