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 Posted: Mon Jan 29, 2007 7:51 pm Subject: I had a pdl with Upfrontpayday.com |
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I had a IPDL with upfrontpayday.com, which they are the main reason my BOA accnt went $1100 in the negative. I originally borrowed $300 from them and eventully defaulted when I lost my job, by the time I finally got ahold of someone they wanted over $600. Now I just received a letter today from National Credit Adjusters saying they purchased this acct from then and now it is $760.00 they want. Any suggestions would be appreciated.
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traci78
Joined: 04 Oct 2006
Posts: 106
Debtcc Points: 587
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| Posted: Mon Jan 29, 2007 7:58 pm Subject: |
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First off, you have the right to validate this debt, which I would certainly do in writing. You can find all sorts of great templates on PollyandSay's blog. Second, as we all know, most internet PDL's are not licensed in the states they do business.
I would check to see whether they are licensed in your state and would also research your state laws for PDL's and allowable interest. And trust me, shaking you down for $600, which as we know is double $300, is not an allowable interest rate. I mean shoot, that's almost like 100 percent!!!!
You do need to payback what you borrowed, at the interest rate that meets your state law. For example, in California, the interest rate is 15 percent.
If this IPDL is not licensed in your state, chances are they won't do anything, as they don't want their shady practices exposed in court--but they WILL make your life miserable through phone calls, etc. Stay strong!
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kscornell
Moderator
Joined: 22 Jul 2006
Posts: 3615
Debtcc Points: 32897
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| Posted: Mon Jan 29, 2007 8:53 pm Subject: ** NATIONAL CREDIT ADJUSTERS ** |
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traci78; you got mail!
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texasconsumeractivist
Debt Samaritan
Joined: 23 Jan 2007
Posts: 680
Debtcc Points: 553
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| Posted: Tue Jan 30, 2007 7:48 am Subject: |
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According to my state laws, pay day loans are illegal and prohibited. So they are not licensed in my state. I did file a complaint last night about National Credit Adjusters trying to collect from and illegal pdl. I will also be filing another complaint about the pdl and will file a complaint to Kansas re: the collection agency.
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traci78
Joined: 04 Oct 2006
Posts: 106
Debtcc Points: 587
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| Posted: Tue Jan 30, 2007 10:12 am Subject: |
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atta girl traci!
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texasconsumeractivist
Debt Samaritan
Joined: 23 Jan 2007
Posts: 680
Debtcc Points: 553
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| Posted: Sun Feb 11, 2007 4:09 pm Subject: |
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receieved my letter on saturday regarding upfrontpayday.com from my state ag's office, they are forwarding all my info to the ag's office in utah where this company claims to be. i also found out this company sold the debt to the collection agency so i sent a cease and desist letter out to the collection agency
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traci78
Joined: 04 Oct 2006
Posts: 106
Debtcc Points: 587
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| Posted: Sun Feb 11, 2007 4:27 pm Subject: validate |
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Can someone clarify what you mean by "validate", I keep seeing it in threads. What is it? How do you do it? etc, etc.
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fedupinpa
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Joined: 22 Jan 2007
Posts: 1666
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| Posted: Sun Feb 11, 2007 5:01 pm Subject: |
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For fedupinpa:
Validation is a process guaranteed by federal law.It basically forces collector to verify that they have right person and it also tells you with proof that this is your debt and it would also tell you collector has the right to collect on said debt. Do a board search for a debt validation letter.
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cajunbulldog
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