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Posted: Fri May 09, 2008 8:42 am Subject: Refunds from PDLs?

If I were to go about requesting a refund from a PDL that I overpaid, what would the letter say? I mean, is there a good template or do I just ask?

Thanks!

Posted: Fri May 09, 2008 8:50 am Subject:

This might be a dumb question but can you request refunds from past loans? Like with PaydayMax I've way overpaid on the loans that I've now repaid. I didn't know any better than but if they refunded me from that then I could pay off the principal of the current one. Just talking out loud maybe...

Posted: Fri May 09, 2008 8:59 am Subject:

Hi Minsmi! I sent a C&D letter to the two pdls I had overpaid on (both overpaid by over $1200 each!) and one of them I suprisingly got a refund from!! Im still working on the other! I send a C&D letter to the other company every day and also fax a copy. Hopefully the will just get sick of me and refund me my money like the other company did!

Posted: Fri May 09, 2008 9:03 am Subject:

I did that with My Cash Now. I still feel like I owe them $280 but have paid them tons of interest fees on loans taken, and reloaned, for the last year. I haven't gotten a response yest but I am trying. I have also requested refunds from the other two. I sent a letter that sounded like this:
During the cycle of lending with your company I have paid numerous illegal interest charges. Working with the NC Attorney General as well as the NC Banking Commission I have determined that on the last loan taken with your company I had paid a total of $480 on a $200 loan. I am requesting a refund of the illegal interest charges of $280 a long with a confirmation that this loan has been marked "paid in full". If this can not be accomplished further action, by way of complaints, will continue to take place with the NC Attorney General, The Office of the Commissioner of Banks, the Better Business Bureau, as well as the ACH Processor that handles your ACH debits and credits.

Be advised that you are "attempting to collect" on a debt for a payday loan that is illegal in the State of North Carolina. According to N.C. Gen. Stat. § 53-173, payday loans are not allowed in the State of North Carolina. Any further implications or action that results in this illegal debt being reported to any of the 3-major credit bureaus is an underhanded violation of the Fair Credit Reporting Act (FCRA). You will leave me with no choice but to swiftly seek legal counsel your company will be placed in a position to validate the legality of this debt along with the claim that "services charges are accrued each day".

Posted: Fri May 09, 2008 10:30 am Subject:

I am looking into getting a refund from Paydayone.com, as I had taken out several loans over the past year and have always paid them off and re-loaned. Does anyone know if I can request a refund from them? I'm in Wisconsin, so I guess if they're legal I can't even ask for that money back?

Posted: Fri May 09, 2008 10:45 am Subject:

So Fastmoney911 has offered to refund my money but is sending it to my bank account which is closed. I told them that and emailed my address to them. We will see if they will actually send a check.

Posted: Sat May 10, 2008 12:16 pm Subject:

I am working with mine pdls for refunds too. I have gotten two so far. It has not been easy but it is worth it. I got one of the pdls to give me half of what they owed me. I should have held out for more. And the second one gave me the full amount that was overpaid. It took them about 8 emails, bbb complaint, and AG complaint to which they responded to none but I got an email just the other day stating I would be refunded and paid in full.

Posted: Mon May 12, 2008 7:28 am Subject:

Well, Fastmoney911 said they mailed a check on Friday for the refund... we will see! If they did, they were the easiest to work with!

Posted: Mon May 12, 2008 7:48 am Subject:

The loan shop was pretty easy for me. I had to only send them about 2 letters requesting the refund. I did not even report them at that point nor did I fax or mail a copy of the letter just sent by email. I went really quick. It was funny though the first email that was sent to me from then said in response to your bbb complaint. I had not even complained yet. The letter said if they did not respond I would complain! After seeing on here there has been a few people that have gotten refunds from them lately. I think they are running scared and it was just a templete that they are sending to those who have sent them the cease and desist letter.

Posted: Mon May 12, 2008 8:38 am Subject:

When I get the check, is it OK to cash it at my current bank?

Posted: Mon May 12, 2008 11:12 am Subject:

Minsmi....is this a new bank account or the same one that they were debiting from? If it is new I would not chance it. I believe that if you put it in your bank account they will be able to see what account it was deposited into. Someone correct me if I am wrong.

Also did you ask for a check or money order. I ask them to send me money orders and then I take them to a bank that I have not banked with to cash them. They charge like $5 but I rather pay it then let them have access to my new account. Loan Shop kind followed my request. I had asked for a money order but they sent a cashier's check. I still took it to a bank and cashed it there just paying the fee.

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