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*Guest* · Posted: Mon May 12, 2008 9:36 am

Hello All,

I have 11 payday loans, and I just closed my bank account. I am in state of VA and they are all internet based. I am paying rollover fees and have overpaid at least 5 of these loans already. Can anyone help.

I was looking into going with PDL Assistance settlement company. Are they any good?? Been doing research and have not found much on them. Spoke with them and they seem real "Anti-Payday loan". So what do you suggest?

Got myself into a mess with 11 loans. Afraid they are too much for me to try and settle with myself. Any help wpuld be appreciated. Rolling Eyes

Posted: Mon May 12, 2008 9:39 am

Guest, Welcome to the fourm. We are more than happy to help. We need you to list the pdl companies you have borrowed from, how much you have borrowed from each and the total of what you have paid back to each. If I remember correctly, the internet pdl must be licensed in VA to lend to you. I will post your laws for you so you can see them and the other members can too.

Posted: Mon May 12, 2008 9:45 am

I was going to go with a PDL assistance company but then realized I could do it on my own. It's been stressful but I am making progress (one PIF plus a refund and two or three payment arrangements). Just know, there's a lot of support in this forum if you decide to go it alone!

Guest · Posted: Mon May 12, 2008 9:53 am

They are:

365fastcash: $200 paid 148
usfastcash: $300 paid 90
mte financial(quickest cash advance): $300 paid 270
sonic cash: $400 paid 0
World wide cash: $200 paid 534
Cash Relief Unlimited: $200 paid 534
3B payday laons: $300 paid 465
Amerlioan: $350 paid 0
Litte Loan Shop: $300 paid 540
Cash Transfer: $300 paid 0
Pay Day Max: $420 paid 570

Way too much interest on all of these as you see. I just closed my bank account and froze all future transactions. Today I want to call and notify my PDL companies os settlment offers but it will take time for me to pay them. I am clearly overpaying the smaller loans just by paying renewal fees, and I have clearly overpaid some loans. Should I use an outside settlement company to pressure them and get this resolved?

Hyla Cineria · Posted: Mon May 12, 2008 9:53 am

Here is a great article that discusses escaping the payday loan trap.
hubpages.com/hub/Escaping-the-Payday-Loan-Trap

Hyla Cineria · Posted: Mon May 12, 2008 9:56 am

You need to close that account and get your payroll to issue you a live check for a while. That is the only way to get control of this situation. Check with your bank to be sure that they do not have a force open policy for closed accounts when it comes to ACH debits.

Posted: Mon May 12, 2008 9:58 am

I have three of the same:

mte financial(quickest cash advance): $300 paid 270
3B payday laons: $300 paid 465
Pay Day Max: $420 paid 570

MTE is a pain in my butt... still working on them, 3b won't answer my c & d letter but payday max is willing to settle for the principal owed. Smile

Guest · Posted: Mon May 12, 2008 9:59 am

I am tempted to call the ones I have overpaid and ask for refund. I have always paid them and have overpaid them by hundreds literally. What do the laws entitle me too I am clueless on the PDL laws. Been doing research all day.

Guest · Posted: Mon May 12, 2008 10:27 am

I just called and sttled with PDM for principle amount. Does anybody have a loan with AIP. I need to contact them.

Hyla Cineria · Posted: Mon May 12, 2008 10:31 am

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 7 days
Maximum Finance Rate and Fees: 15%
Finance Charge for 14-day $100 loan: $15
APR for 14-day $100 loan: 390%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: None (cannot refinance, renew, or extend)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: $25 NSF fee; Court Costs; Reasonable Attorney's Fees (not to exceed $250)
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Virginia Bureau of Financial Institutions
Address: State Corporation Commission, 1300 East Main Street, Suite 800 Post Office Box 640 Richmond VA 23218
Phone: (804) 371-9657
Fax: (804) 371-9416
Regulatory Contact: Susan E. Hancock,, Deputy Commissioner, Consumer Finance

Posted: Mon May 12, 2008 10:32 am

WOAH.... PDM, please tell me that you are not paying them any more. I am sorry I left you hanging..I had to go..I am at work. According to VA law, the pdl must be licensed in VA to lend to you...if these are not licensed, you are only responsible for paying back what you borrowed. That is why I was saying please tell me you are not paying PDM any more...they owe you a refund.

Here is VA Law:

Posted: Mon May 12, 2008 11:17 am

I had a loan with 3bpaydayloan and overpaid $471.25. They did not respond to my cease and desist letters at all. I reported them to the BBB and AG and they never responded to them either; however about two weeks after I reported them I got an email saying they would refund the entire amount and I would be marked paid in full.

Have you reported them yet?

Guest · Posted: Mon May 12, 2008 1:02 pm

OK I been on phone all morning with these three:

3B payday: they agreed to stop debiting my account and I send in my final payment of 97.50 by mail Razz

Little Loan Shop: They are bogus for that 10 installment plan. Settled for $180 with mail in payments of $90 starting end of month and 1 in June Surprised

PayDayMax: Agreed to settle for principle balance owed of $270. I send in Moneygram as I did before receipt tracking Razz

I told them all to stop debiting my account, so far they have complied so far and was very polite.

Now the question is what do I do about the other companies like AIP, World Wide Cash, MTE? I heard these guys are rough to deal with. I already filed a complaint aginst AIP due to neglect of phone calls and emails. I have overpaid all three of these companies. Should I file with BBB and let them handle it. Most likely most of them will not respond. The loans will default this friday, so I am expecting calls mid next week from all of my PDLs I have not settled with. I am doing my reserach on the VA state laws. I see it is illegal to renew loans in my state, bt what about licensing of these companies? What can I do next. I will keep calling in hopes of settlment. I have been blessed so far, but I have other bills to pay as well. Rolling Eyes

Guest · Posted: Mon May 12, 2008 4:24 pm

Does anyone know if these are related or same company?

365fastcash: $200 paid 148
usfastcash: $300 paid 90
mte financial(quickest cash advance): $300 paid 270
sonic cash: $400 paid 0
World wide cash: $200 paid 534
Cash Relief Unlimited: $200 paid 534
3B payday laons: $300 paid 465
Amerlioan: $350 paid 0
Litte Loan Shop: $300 paid 540
Cash Transfer: $300 paid 0
Pay Day Max: $420 paid 570

Posted: Tue May 13, 2008 11:34 am

Guest....you overpaid 3b paydayloans by $165 why are you sending them another $97. If they are illegal in your state you owe them nothing more and they owe you a refund.

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