Can I settle my PDL debts with PDL Assistance?

Well this depends if you physically wrote the check with intention of fraud. Also it depends on the state you reside in. I believe some states prohibit criminal charges on written checks.

Hi, I have just signed up for PDL Assistance and after reading some of these posts I am now wondering If I should try to negociate myself. Can someone tell me how to negociate with the PayDay loan companies? Also I have not paid my $200 fee yet with PDL, is there anyway I can still cancel? Any help would be appreciated. I have 5 Pay Day Loans all done through the internet.

Please tell us the state you are in and the names of the companies.

I live in PA and the compaines are:
Pay Day One
One click Cash
Loan point
Integrity advance
Next day cash

I am pretty sure the only legal one is PayDay One.

I will double check the PA database though.

In the mean time you can go here and read up on the steps to take when dealing with illegal lenders.

You only owe the amount borrowed. Any fees or rollover charges apply to that amount.

You can do this on your own.

Thanks for the help! I am going to attempt to do this on my own. One question, for the legal one, Pay Day One, how do I deal with them, or am I locked into just paying them back?

After you get your account secure contact them with an ACH withdrawl. If you can get it to them three days before the ACH is due to post then they may work out arrangments then. If not then the ACH will hit and be denied then you can contact them about payment arrangments.

They are very easy to work with and have one of the nicest customer service dept. They usually will break the loan up into four payments over four paydays.

Since they are legal you do owe them the whole amount.

Hanna,

Thanks for your help. I sent all my letters today, and I sent out emails yesterday. Here is one of the responses I got back from My Next Day Cash:

By revoking authorization on your account, you are, in effect, defaulting on your loan. In which case your account will be sent to an outside collection agency.


How should I respond back?

You have the right to revoke the ACH. That is not default.

They are not licensed. They can send to collections all they want. The loan was illegal and so is the collection on that loan.

You only owe what you borrowed. What did you borrow and what have you paid back?

I borrowed $400 and I have paid $240, in my letter I stated that the amount I borrowed, the amount I have paid to date, and the remaining balance which I am willing to pay once they send me an address where I can send checks and something in writing acknowledging that is the balance remaining.

I guess my question is, how do I proceed? If they do send it to a collections, and it is illegal will that still hit my credit?

In most cases illegal lenders use illegal collectors. They have to be licensed as well.

If an legal collector should happen to get the debt then when you inform them it was illegal they usually back off.

Most illegals do not report anything to credit bureaus. If they do then dispute it.

I would just send them the letter again and include that you are not defaulting as you are willing to pay what you legally owe if they will agree to the amount and either give you an address to mail payment or you could use a prepaid card.

Tell them no arrangments, no payment.

All good advice nohiogal.

Please do not put anything past any lender whether they are Illegal or Legal. Do as nohiogal stated and send the letters out for assurance.

I received a response from one of the illegal lenders today. It is a settlement agreement (it is a PDF not sure how to send it). Could someone help me read it, a lot of it is jargin and I do not want to sign without getting a second opinion. The only thing upfront that I do not like is that the loan is for $400, I paid the fee of $120 once, so technically I own $280, and they want to settle for $400. Your opinion/advice would be really appreciated.

Well we do not have to read anything to let you know that is a bogus settlement.

What is the PDL name?

The name is Integrity Advance. They say I own $835, but i initially borrowed $400. Should I keep pushing until they settle for the $280 that I actually still owe.

YES YES YES!! What state are you in? Did you verify they were unlicensed in your state?