Internet's first get-out-of-debt community - 135,000 members

Posted: Wed Mar 07, 2007 2:08 pm Subject: Just a general feeling..

I was reading few posts and blogs here. I found that the state laws and ways of calculating the interests are shown incorrectly in a few posts. I say this because I read something different in some other post about the same laws.

Most of us here are struggling with our payday loan problems and we are learning from others experiences. Pdl calculations are very complex. If one is sure with the laws and the method in which the charges are to be calculated, others will get the right information otherwise they will be messed up because of what they read from this forum.

I am not pointing this personally to anyone, just a general comment. I know I am very weak in math and I used to be the last in my school exams. And I remember how sad my mom used to be!! Anyways, that's the reason I never tried to calculate the pdl rates on this board. I knew there are more knowledgeable people than me and they will do it right.

I started this topic just to make sure that everything goes right and no one faces problems from the pdl sharks. What are your thoughts??

Posted: Wed Mar 07, 2007 2:26 pm Subject:

I never had to deal with scum payday lenders but I agree with you on the math part. I squeeked by in math myself.Poor teacher gave a c for effort cause I was trying so hard and she probably got tired of that after school unpaid overtime too. Laughing

Posted: Wed Mar 07, 2007 2:36 pm Subject:

I agree with you. Pdls laws are very confusing. And the lenders always want to put people in troubles because they are not aware of the laws. So, it is important that someone posting the laws should have done a thorough research first.

Posted: Wed Mar 07, 2007 2:58 pm Subject:

I agree too. That's why I've been trying to post information about them and encourage others to post their questions here instead of going to blogs to get information and generic tempalate letters that may not contain the info they need.

If you post a question then you can recieve the experiences of many people. If someone is wrong about something someone else will come around and correct them. It's kind of a check and balance system. The more people that give you advice, the more knowledge you glean from the thread.

When someone sends a generic letter to a pdl with incorrect information it does nothing to help their case. These pdl's have lawyers, they know what they are doing. If you call them on the right laws and use the right calculations you have a much better chance of being successful with them.

New people coming here count on this information being correct. Those of us posting information need to be sure that it is correct, and if we aren't sure it is, make a note that it shouldn't be taken as a fact.

I've spent that last few days calling a bunch of different states and talking to officials in their banking departments. In doing so I've learned that some of the info is incorrect. I beleive that everyone wants to think that their state has laws that protect them, but they don't. Some states just don't. The laws aren't always what they seem, and we all have to remember that normal people don't write these laws. They aren't simple and easy.

I've noticed the atmosphere on this board has changed recently. So many people have had sucess with pdl's that it's almost like an attitude of "You have one? Don't pay it! You can get it marked PIF if you just recite some laws!". That is totally wrong! It actually taked work and research. Just because others do the research doesn't mean you don't want to consider checking it out to make sure it's valid. Plus, you need to know what those laws mean. Just reciting them may work occasionally, but you should know more than just what is written. Everyone's situation is different. There is no one letter or one way of doing this. It is dependent on several factors.

So in conclusion I just want to say that if you are new here, and want to get the most accurate information, post your situation or question, and wait until several people respond to your thread. Sorry for going off, but this has been on my mind lately too.

Posted: Wed Mar 07, 2007 3:26 pm Subject:

I agree with your point. It is always better to get your situation reviewed by different experienced people rather than copying and pasting from one place.

Don't copy and paste a generic letter because the lenders have professionals at their back and they will not miss any single chance to put someone in troubles. Get multiple opinions before reaching a conclusion.

Posted: Wed Mar 07, 2007 3:51 pm Subject:

I agree with your points. I always try to warn people when I put opinions out. I always suggest help other than me when dealing with court systems. If I don't know the answer,either research it or let someone else take a shot at it.

Posted: Wed Mar 07, 2007 4:00 pm Subject:

It's good to know I'm not alone on this . . . Users need to know that just because someone posts it isn't necessarily right.

I remember a few months ago a user was directing people to her "blog" and "template" letters and one user almost got arrested for extortion because of the info contained in her letters.

I just hate to see things like that happen to people here because someone decides they want to be the one to help everyone, and direct them away from the boards where the real help is.

Cajunbulldog - Out of curiousity, do you have a bulldog?

Posted: Wed Mar 07, 2007 4:15 pm Subject:

Nah,it reflects my nature when my fur gets ruffled!
Normally collectors harassing people on the board tend to get the evil me out sometimes! Mr. Green

Posted: Wed Mar 07, 2007 4:18 pm Subject:

Just sometimes????

Posted: Wed Mar 07, 2007 4:25 pm Subject:

If I let it out too often,might have to find another board and I happen to like this one quite a bit. Laughing

Posted: Wed Mar 07, 2007 4:35 pm Subject:

I agree with the info mentioned here - I think it's important to post factual information. I always try to preface my opinion with the statement "this is my opinion", and if I'm unsure about what I am posting, I will ask other users to clarify or correct it if they have better info.

I never want to steer someone in the wrong direction.

Posted: Wed Mar 07, 2007 4:39 pm Subject:

I think a part of the problem is sometimes people here want to help others so much, that they offer help in areas that they may not know all about. It comes from a good place, but is of no help at all.

I think a good rule of thumb for newcomers to use would be if someone keeps directing you to their blog for the info, or someone says they will only help you by PM, then look to someone else for help.

Posted: Wed Mar 07, 2007 4:44 pm Subject:

Is it just me that thinks the attitude is shifting from "keep working at it and maybe you will get a pif letter" to "it's so easy, just recite some laws and you will be fine" types of responses? Maybe it's just me, I had a response to a post I made the other day about a creditor bugging me even though they knew I was filing bk, and the response was (without asking anything about my state, or even if it was a pdl, which it wasn't) "Recite the laws and get marked pif"

Posted: Wed Mar 07, 2007 4:46 pm Subject:

That is also a good point.I try to post all my advice unless the information is getting to close too personal then I would recommend going to pm. Unlike some,I haven't found the extra time to try that blogging thing yet. Between working 14 hours a day 7 days a week and keeping up on the board,time is becoming a scarce thing these days. Sure hope I can get off this rig soon before I go bonkers!! Shocked

Posted: Wed Mar 07, 2007 4:47 pm Subject:

I think posting the info on the board is only fair to all. Directing people to contact you via PM for help, and not posting the info on the board keeps a lot of very useful information off the boards that may help others.

Posted: Wed Mar 07, 2007 5:27 pm Subject:

I am not all that savvy when it comes to the laws, and I depend on others here to give me the input from their experiences on handling different areas of the pdl world. I am sucky at math and I have a really do not know how to calculate the pdl rates. I would love to get a few PIFs, I was lucky to get one small refund. But it still doesn't stop the fact that in the long run I am filing for bk. I come on this forum because of the friendships that I have mad and because maybe in some way I may be able to help some on elike me feel not so alone in their trubles with the pdls our overdrawn accounts. I am just now becoming familar with finding links that match the subjects in the thread and trying to post them to give back some of the help that I have received.

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