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 Posted: Tue Dec 05, 2006 9:14 am Subject: I wonder if this will work? |
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I have taken a total of 4 payday loans out with paydaymax.com
The first 3 were piad in full with me paying a total of $721.06 on a $400 loan.... $883.80 on a $400 loan ....and 831.79 on a $380 loan.
I'm in Indiana and I think my max interest is 15 dollars per 100.
I now have a loan that I defaulted back in August on and the total amount of the loan was $500. I paid a total of $167.58... which tells me i still owe $407.42.
I wonder though ifI can send them an email with my loan history and how much I overpaid and a copy of my state's laws and if they will mark my account PIF?
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KSpenneberg
Joined: 06 Oct 2006
Posts: 27
Debtcc Points: 1134
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| Posted: Tue Dec 05, 2006 9:25 am Subject: |
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Good luck I am in Indiana as well. I haven't delt with this company..But good luck. I say send the letter contact the AG and hope for the best. The law is on your side.
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shellparks
Joined: 01 Nov 2006
Posts: 73
Debtcc Points: 1930
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| Posted: Tue Dec 05, 2006 9:49 am Subject: |
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Hi KSpenneberg welcome to the boards. It can't hurt to try. Just be very precise and eacat with your letter also send it certified mail. Also if it doesn't work the first time try it again, IPDL companies are wishy washy. Good luck and keep us posted
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PDLFREE
Joined: 07 Oct 2006
Posts: 1264
Debtcc Points: 18243
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| Posted: Tue Dec 05, 2006 10:21 am Subject: |
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The pdl place should know that you are aware of your rights and the laws in your state. They are not supposed to charge more than the permissible amount. Send the letters and claim for a refund.
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mcranberra
Joined: 14 Aug 2006
Posts: 527
Debtcc Points: 7151
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| Posted: Tue Dec 05, 2006 10:23 am Subject: Thanks everyone |
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Can anyone give me the smaple letter for the state of Indiana?
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KSpenneberg
Joined: 06 Oct 2006
Posts: 27
Debtcc Points: 1134
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| Posted: Tue Dec 05, 2006 10:39 am Subject: |
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Payday Lending is Legal in Indiana under the following termLegal
| Quote: | Status: Legal
Citation:
Ind. Code Ann. ยง 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: Prohibition
Where to Complain, Get Information:
Regulator: Indiana Department of Financial Institutions
Address: 30 South Meri dian Street, Suite 300 Indianapolis, IN 46204
Phone: (800) 382-4880
Fax:
Regulatory Contact: Mark Tarpey,, Supervisor, Consumer Credit
http://www.in.gov/dfi/
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Polly has a good letter that you can use when dealing with IPDL, just change the information to reflex your state's information
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bdouble
Debt Samaritan
Joined: 15 Jun 2006
Posts: 356
Debtcc Points: 4447
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| Posted: Tue Dec 05, 2006 10:52 am Subject: work |
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Give it a try send for the refund all they can say is No. KYSIDE38
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KYSIDE38
Joined: 19 Jun 2006
Posts: 2502
Debtcc Points: 37316
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| Posted: Tue Dec 05, 2006 11:10 am Subject: |
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I would definitely say to at least try. Sometimes, when push comes to shove, these places will cave in just to avoid problems. Good Luck!
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Lorri
Moderator
Joined: 27 Apr 2006
Posts: 1728
Debtcc Points: 20969
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| Posted: Tue Dec 05, 2006 1:02 pm Subject: |
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KSpenneberg,
I was just dealing with them also. They turned my account to Credit Protection Depot. I spoke with a supervisor there because pdls are prohibited in my state. I paid 325 on a 300 loan and they said i still owed 600+ more dollars. I spoke with a supervisor named Jason and explained my situation with him and told him i was filing complaints with the AG's office. He turned right around and marked my account paid in few and within a few minutes of our conversation i had the PIF email.
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traci78
Joined: 04 Oct 2006
Posts: 106
Debtcc Points: 587
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| Posted: Tue Dec 05, 2006 1:07 pm Subject: Who |
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Traci..
Do you have a fax number for them or an email address?
Thanks!!
Kristin
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KSpenneberg
Joined: 06 Oct 2006
Posts: 27
Debtcc Points: 1134
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| Posted: Tue Dec 05, 2006 1:08 pm Subject: loan |
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Credit Protecion Depot 866-645-1661 KYSIDE38
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KYSIDE38
Joined: 19 Jun 2006
Posts: 2502
Debtcc Points: 37316
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| Posted: Wed Dec 06, 2006 7:55 am Subject: You wouldnt believe this |
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I went to log into my paydaymax account today and it no longer exists. My passwords dont work...and i tried to reset the password and it still doenst work. Anyone ever had this happen?
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KSpenneberg
Joined: 06 Oct 2006
Posts: 27
Debtcc Points: 1134
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| Posted: Wed Dec 06, 2006 8:10 am Subject: loan |
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Sure did with my cash now. they locked me out. KYSIDE38
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KYSIDE38
Joined: 19 Jun 2006
Posts: 2502
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| Posted: Wed Dec 06, 2006 8:18 am Subject: |
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Paydaymax locked me out right after i hung up with credit protection depot on 12-4-06. I tried to log in within minutes of hanging up with them and it said my access has been denied. I even tried again today and it is locked. Its odd though because i logged in the monday morning before calling them.
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traci78
Joined: 04 Oct 2006
Posts: 106
Debtcc Points: 587
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| Posted: Wed Dec 06, 2006 8:23 am Subject: info |
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my cash now did the same to me. Credit protection depot is the payment center for them both. KYSIDE38
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KYSIDE38
Joined: 19 Jun 2006
Posts: 2502
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| Posted: Sat Dec 09, 2006 6:27 pm Subject: |
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My account with them does not work either. I think it stop working when they sent me a final notice. They were about to send my account to a collection agency. You best bet is to speak with a supervisor. I contacted them at least 3 times by phone and 10 times by email. I followed Traci78's advice and was able to get my account marked pif. Make sure you understand your state laws and don't back down.
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bdouble
Debt Samaritan
Joined: 15 Jun 2006
Posts: 356
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