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Hi.

I have been dealing with PDL loans (3 of which were not licensed). I have paid enough interest on all three to pay the principal and more. I reported them to the AG's office, who referred the case to the Ohio Dept. of Commerce, Division of Financial Institutions. I told them that the companies were not licensed in Ohio and that I had paid more than the principal in fees and that I wanted them to mark the accounts Paid in Full.

This is the letter I got from the Division of Financial Institutions:

After reviewing the information regarding your complaint against XpressCash, the Division has determined we are without authority to investigate your complaint. XpressCash is not a financial institution licensed by the Division. We highly recommend that before you enter into financial relationships with lenders in the future, please consult the Division to discuss their licensure. As a licensing agency, the Division only has administrative authority over those entities that we license. Accordingly, the Division is closing its file on this matter.

What do I do now?

Posted: Sat Oct 07, 2006 3:09 pm Subject:

Have you tried settling with them yourself?

Posted: Sat Oct 07, 2006 3:14 pm Subject:

I mailed a template letter for PDLs from pollyandsay's blog two days ago

Posted: Sat Oct 07, 2006 3:14 pm Subject:

I mailed a template letter for PDLs from pollyandsay's blog two days ago

Posted: Sat Oct 07, 2006 3:37 pm Subject:

ok..Give it some time. The good news is, the AG's office obviously thought enough of your complaint to refer you to the DOFI. Your complaint was aknowledged.

Posted: Sat Oct 07, 2006 3:42 pm Subject:

Thanks, finsfan13. I'll wait and see what happens.

Posted: Sat Oct 07, 2006 3:45 pm Subject:

I've got my fingers crossed..By the way, I got a refund myself using that very same letter last spring. A lot of us here have been very successful with it.

Posted: Sat Oct 07, 2006 3:53 pm Subject:

That's what I'm hoping for. You guys have paved the way, so maybe they'll just do it without waiting for a call. I'll let you know what happens. Thanks again.

Posted: Sat Oct 07, 2006 4:11 pm Subject:

The person I've been speaking with with the Fin. Division has told me they are compiling a file of all these complaints they are getting, please do not think that they are not going to do anything, they are looking carefully at what WV, MA, NY, CA, and NC are doing and are not ignoring these complaints and they are taking them seriously. Your complaint isn't being tossed aside. I'm surprised at Xpress Cash, they settled me as paid in full real fast.

Posted: Sat Oct 07, 2006 4:16 pm Subject:

My complaints were the first ones that they received. I don't want you to give up, you can stand up to the pdls and have success like the others. I have also been writing representatives to draw attention to the matter, if we want to make a change we must take action.

Posted: Sat Oct 07, 2006 4:50 pm Subject:

Thanks, Steelers1. I am going to take yours and Finsfan13' advise. I'm not giving up. I still have the number you gave me of the person that settled with you quickly. If I get another e-mail from XpressCash, I'll call him. I'll let you know what happened. Thanks, guys.

Posted: Sat Oct 07, 2006 5:00 pm Subject:

What is Xpress Cash saying to you?

Posted: Sat Oct 07, 2006 5:33 pm Subject:

First, they said I had defaulted on my loan and they needed me to contact them. I sent them an e-mail, stating I needed proof of the contract. That was on Sept. 25. They didn't get back to me until Oct. 2 at which time they said since they had not received any correspondence from me, they felt it would be in their client's best interest to recommend that they verify employemnt and proceed against me for the debt, after which I e-mailed them an abbreviated copy of the template letter against PDLs, asking for an address that I could get in touch with them at. Then on Oct 5, they sent a general flyer saying they were having an "Oktoberfest special" and that if I contacted them immediately, they might be able to forgive many of the fees and interest and only have me pay the principal (this is a loan that was originally for $300 that I had paid $540 total on).

Posted: Sat Oct 07, 2006 5:35 pm Subject:

In the letter I sent them a couple days ago, I did tell them I revoke any wage assignments that I may have previously agreed to. I also sent a letter to my employer, instructing them not to honor any voluntary wage assignments.

Posted: Sun Oct 08, 2006 5:23 am Subject:

Wow, it seems that things have changed since this past winter. I handled all of my complaints through the consumer protection office in Ohio and it was very helpful to me. I contacted the division on different occassions and would get different answers to the same questions. I guess it depends on who you talk to but I was able to settle with the majority of my lenders on my own. Things will turn around for you. Keep us updated on your progres.