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 Posted: Tue Jul 17, 2007 6:16 pm Subject: Question about PDL paybacks |
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I keep reading posts about getting refunds from the PDL companies if you've over paid them. What is the requirements for Indiana?
I have probably had 2 or 3 different checking accounts from different banks within the last 3-4 years when I got myself into the PDL HE!!. How can I find out how much I have paid on each loan? If I call the PDL company will they tell me? I haven't heard from some of them for years and I would hate to call them then they start calling me all of the time again. Would the banks be able to provide me any printouts?
Any help would be greatly appreciated. Once I get it I will probably have a lot more questions about how to possibly get money back for overpayments that I may have made.
I just want to thank everyone for their insights. This place is great and has a ton of valuable of information!
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landrylou
Joined: 04 Nov 2005
Posts: 310
Debtcc Points: 5184
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| Posted: Tue Jul 17, 2007 7:12 pm Subject: c38 |
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c38, you can get statements from your banks showing your transactions. They may charge you for them since it's been some time and you're not a customer anymore. But I'm sure you can get them. As for the Indiana law concerning pdl's - can someone post Indiana laws on here for c38? You can figure out what the maximum amount due back legally was. Now, are the pdl's from a long time ago? I would not suggest calling these pdl's at all. You're just asking for trouble there. If they are all paid off and over with, are you just trying to get refunds now? How long has it been? I'm only asking because if you come out of the woodwork after a long period of time and ask for a refund, you might be stirring up old wounds with them. However, you do what you think is best. If we can get your Indiana state law posted so you can see the maximum allowed amount and then you find out how much you paid all of them, you can work from there.
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9374
Debtcc Points: 124815
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| Posted: Tue Jul 17, 2007 7:48 pm Subject: |
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Personally I have always felt that refunds for our overpayments were icing on the cake after dealing with these people. I think once they have been paid off or disappeared for a while they will never answer your inquerys for a refund and I would be afraid they would start harrassment again for the balance of what they think you owe...but if you choose to go after them..file complaints first with the AG, BBB, and FTC. That might help. Here is the Indiana code:
| Quote: | Indiana State Information
Legal Status: Legal
Citation:
Ind. Code Ann. § 24-4.5-7-101 et seq.
Loan Terms:
Maximum Loan Amount: $500 (not to exceed 15% of borrower's monthly gross income)
Loan Term: Min: 14 days
Maximum Finance Rate and Fees: 15%: $0-$250; 13%: $251-$400; 10%: $401-$500
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: One per lender; Two total
Rollovers Permitted: None (cannot renew, repay, refinance or consolidate)
Cooling-off Period: 7 days after 6 consecutive loans
Repayment Plan: After 6 consecutive loans, lender must impose a 7 day cooling off period or convert to an installment loan payable in more than 4 installments at a rate no greater than 36% APR
Collection Limits:
Collection Fees: One $20 NSF fee; additional charges may apply when check or authorization to debit was used to defraud another
Criminal Action: Prohibited
http://www.in.gov/dfi/ |
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Morningstarr430
Debt Samaritan
Joined: 13 Jun 2007
Posts: 2337
Debtcc Points: 39294
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| Posted: Wed Jul 18, 2007 6:18 am Subject: |
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Thanks for the info. I agree on the refunds, I don't expect to see a dime I just wanted the information incase the PDL companies gets nasty then I have something to throw at them.
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landrylou
Joined: 04 Nov 2005
Posts: 310
Debtcc Points: 5184
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