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 Posted: Wed Feb 28, 2007 9:58 pm Subject: PDL Hell! Help |
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I am in a mess. I have about six internet payday loans and i have had to close my acct because of fraud. I need to know where to go from here. Can anyone help!!
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prettygurl_6212001
Joined: 27 Feb 2007
Posts: 16
Debtcc Points: 386
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| Posted: Thu Mar 01, 2007 6:45 am Subject: |
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First question is what state are you in? Also who are your loans with? There are many people here that can point you in the right directions and help you achieve your goals. You are not alone in this at all. By reading the posts here, and listening to what people have to say, you will be able to arm yourself with the knowledge on how to deal with these people. Be strong and and know that there is a lot of help here for you.
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2nband
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Joined: 30 Jan 2007
Posts: 2078
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| Posted: Thu Mar 01, 2007 7:16 am Subject: |
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i live in tennessee
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| Posted: Thu Mar 01, 2007 7:24 am Subject: |
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sorry i was not sighned in
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prettygurl_6212001
Joined: 27 Feb 2007
Posts: 16
Debtcc Points: 386
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| Posted: Thu Mar 01, 2007 7:30 am Subject: |
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Who are your loans with?
How much have you borrowed from each?
How much have you repaid to each?
| Quote: | Tennessee State Information
Legal Status: Legal
Citation:
Tenn. Code Ann. §45-17-101 et seq. and Tenn. Comp. R. & Regs. § 0180-28-.01
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: the lesser of 15% of the check or $30
Finance Charge for 14-day $100 loan: $17.65
APR for 14-day $100 loan: 459%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: 3 (2 per licensee)
Rollovers Permitted: None (cannot renew or otherwise consolidate)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: One $30 NSF Fee; Court Costs
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Tennessee Department of Financial Institutions
Address: 511 Union Street, Suite 400 Nashville, TN 37219
http://www.tennessee.gov/tdfi/ |
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Morningstar
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Joined: 06 Feb 2007
Posts: 1650
Debtcc Points: 10674
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| Posted: Thu Mar 01, 2007 7:37 am Subject: |
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Morningstar, you beat me to it. LOL
Prettygurl ~ If you provide the additional information, there are a lot of people here that can help you with your problem. It helps to have a little more information and do not be afraid to ask questions.
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2nband
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Joined: 30 Jan 2007
Posts: 2078
Debtcc Points: 35995
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| Posted: Thu Mar 01, 2007 8:09 am Subject: |
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i have to find my notebook,do you guys know about the mte finacial thing i have three with them, ihave also been paying 400 a month on a loan that is only 500 dollars
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prettygurl_6212001
Joined: 27 Feb 2007
Posts: 16
Debtcc Points: 386
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| Posted: Sat Mar 03, 2007 7:54 am Subject: |
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Ameriloan-bal-445 i was paying 105 every to weeks
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prettygurl_6212001
Joined: 27 Feb 2007
Posts: 16
Debtcc Points: 386
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| Posted: Sat Mar 03, 2007 7:59 am Subject: |
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Net cash 120 every two weeeks bal 520
PapercheckPayday 200 every two weeks bal 585
USGQ this is one that just appeared in my acct 90 every two weeks and my balance was still 390
Mte Finacial had been closed or so i thought then they took 120 right before i had to close my acct
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prettygurl_6212001
Joined: 27 Feb 2007
Posts: 16
Debtcc Points: 386
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| Posted: Sat Mar 03, 2007 8:01 am Subject: |
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Make sure you file complaints against each company with your Department of Financial Institutions. I'm guessing you should be done paying most/all of these. A $500 loan shouldn't cost you more than about $620 in total. A $445 loan shouldn't cost more than $560.
_________________
The only people with whom you should try to get even are those who have helped you.
-John E. Southard
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Morningstar
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Joined: 06 Feb 2007
Posts: 1650
Debtcc Points: 10674
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| Posted: Sat Mar 03, 2007 8:04 am Subject: |
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so do you think that i should call them and tell them, no one has called me or my job or anything is that weird or do you think that it is just to soon
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prettygurl_6212001
Joined: 27 Feb 2007
Posts: 16
Debtcc Points: 386
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| Posted: Sat Mar 03, 2007 8:06 am Subject: |
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when that says criminal action prohibited does that include store fronts because they go to court around here all the time
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prettygurl_6212001
Joined: 27 Feb 2007
Posts: 16
Debtcc Points: 386
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| Posted: Sat Mar 03, 2007 8:19 am Subject: |
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i just got an email from ameriloan
ANNUAL PERCENTAGE RATE 730.00 % The cost of your credit as a yearly rate. (e) Payment Schedule
You must make one payment of $455.00 on 3/15/07 if you choose to pay off your loan rather than renew.
Security Interest. The loan is unsecured.
Loan Fee/Prepayment: The Renewal Charge consists solely of a Loan Fee that is earned in full at the time the loan is funded. Although you may pay in advance all or part of what you owe without penalty, you will not receive a refund or credit of any part or all of the Finance Charge. (e) The Annual Percentage Rate is estimated based on the anticipated date the loan proceeds will be deposited to your Account.
RENEWAL CHARGE $105.00
The dollar amount the credit will cost you.
Amount Financed $350.00
The amount of credit provided to
you or on your behalf.
Total of Payments $455.00
The amount you will have paid if you select to renew
your loan and make the payment as scheduled.
The Account: You have debit account on file at
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prettygurl_6212001
Joined: 27 Feb 2007
Posts: 16
Debtcc Points: 386
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| Posted: Sat Mar 03, 2007 8:26 am Subject: |
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"when that says criminal action prohibited does that include store fronts because they go to court around here all the time"
If a debt is legitimate (and sometimes even when it isn't), the creditor/collection agency to whom it is owed can file a lawsuit in civil court to obtain a judgement on the amount (plus attorney fees, interest, court costs).
I don't know much about storefronts. They may be backed by a bona fide bank, and as such, subject to different laws. If your ameriloan was an iPDL, then those terms sound very bogus.
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The only people with whom you should try to get even are those who have helped you.
-John E. Southard
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Morningstar
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Posts: 1650
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| Posted: Sat Mar 03, 2007 8:29 am Subject: |
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Additionally, if fraud actually occured, then the storefront can file criminal charges. A bad debt, in and of itself does not constitute fraud.
_________________
The only people with whom you should try to get even are those who have helped you.
-John E. Southard
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Morningstar
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Joined: 06 Feb 2007
Posts: 1650
Debtcc Points: 10674
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