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Guest

I hope this can start a genuine conversation. My question is this..why do payday loans go after some people (harassment, threats, collections etc..) but then ignore others. I took out foud loans 3 years ago and defaulated on them, along the way my phone number was changed and my banks changed. They got minimal amounts of payments before my account was closed for being oevrdrawn. Now I live at the same address yet I have never heard from these people and nothing shows on my credit reports. Why do they pick on some but not the others?

Posted: Fri Mar 23, 2007 6:55 pm Subject:

Are you speaking of internet or storefront payday loans?

Guest · Posted: Fri Mar 23, 2007 6:57 pm Subject:

Sorry i am speaking of Internet, I have not had any experience with storefront but I suspect that the collection procedures for them is different than Internet.

Posted: Fri Mar 23, 2007 7:01 pm Subject:

Posted: Fri Mar 23, 2007 7:05 pm Subject:

Perhaps they don't have the same skiptracing resources that real collection agencies use?

Guest · Posted: Fri Mar 23, 2007 7:21 pm Subject:

I really wasn't asking about my particular situation, I just used me as an example, why do they go after one person but not another?

Posted: Fri Mar 23, 2007 9:11 pm Subject:

I would think it has to do with their ability to contact the person. If they can't contact you, they are probably going to give up fairly quickly. If they can get a hold of you, they use their tactics to try and collect. I'm sure it also depends on other factors like company policy, what state you live in, how much you've paid, and all that stuff.

Posted: Sat Mar 24, 2007 8:05 am Subject:

It may also depend on whether or not they are licensed to operate in your state. If they are not, they don't want to deal with the consumer protection agencies and face fines for their illegal practices.

Posted: Sat Mar 24, 2007 11:13 am Subject:

Guest,
This is an excellent topic to discuss! And I have no idea why that is and am with you in that I really would like to learn why! In my case, I am paying off 5 PDL's, and am paid in full officially on two of them. Out of the 5, noone's called me, except ameriloan, which has been so bad that we are now filing suit with the Dept of Corporations in my state. So I really don't know why 4 of them have been reasonable and one has been impossible to work with...

Posted: Sat Mar 24, 2007 11:32 am Subject:

This is also true with the storefronts!! I've came across some that will accept payment arrangements, but there is this particular one that wants their money in full. You would think they would accept the payments b/c they will not get anything in a BK!!

No, I'm not advising anyone to file BK. As a matter of fact, this storefront has been good to me, but since I defaulted, I was willing to pay them in payments, but they won't go for that. The collector for this storefront was just harassing me. It wasn't about collecting the debt, he just wanted to call and threaten and harass, so I feel I have no other choice, but to include them in my BK.

Posted: Sat Mar 24, 2007 2:59 pm Subject:

That is wierd but to be truthfull when I "defaulted"(I use that term losely because I well overpaid them) some called me a couple of times and then I never heard a thing again, while others still harass me and a couple never sent me a word

Posted: Sat Mar 24, 2007 3:36 pm Subject:

I didn't get harassed too badly, either..

I think only 2 of my 6 made any attempt to contact me, and only one of them was mildly aggressive. I had wickedly overpaid on all of them, though, and I think they recognized this and backed off.

Posted: Sat Mar 24, 2007 3:49 pm Subject:

The only one I had issues with was a storefront, but that's all taken care of now. Rt. 66 hassled me for a while, until I found this site Very Happy

and started fighting back because they were asking for a huge amount more than I owed them. They actually left me alone, even though I legally owed them about $23. I haven't heard from them since late last year.

Posted: Sat Mar 24, 2007 5:54 pm Subject:

That is a really good question! I have one storefront that is giving me a hard time with calls about once a week, and I think one is going to take me to court, despite the fact that I informed them that they are included in my bk, but I haven't heard from the others. In fact - I haven't even heard from the ipdl places either.

Cindysunshine

I have the same question,,, I had 6 payday loans, 3 with the "same" company that I paid alot to- I complained via email ONCE and they immediately marked all 3 paid in full and the other 3 have only made a couple of attempts and I have not heard anything in months, I continue weekly to send an email with the state of Illinois payday lending laws requesting WRITTEN documentation and they do not respond! I have paid nothing to any of the 3 existing and I am willing to pay what is rightfully due but they will not respond to me with anything. wierd!