Internet's first get-out-of-debt community - 134,000 members

I am fairly new to this site and first of all thank you for all the good info. so far. My question is...is it better to fight the internet PDLs on your own or go through an agency or is there any agencies that will work with internet PDLs? It seems like I have seen some people on this site refer to some agencies. Any recommendations will be appreciated.

Posted: Tue Mar 27, 2007 5:41 pm Subject:

I think if you are only dealing with one ore two PDL's it is much more efficient to just try and work with them a payment arrangement. At one point in time I had like 10.......therefore I needed help. I went through T&C and they consolidated my loans, spoke with the companies and came up with plans so that I didn't have to. However, you do have to pay them for their services thats why it wouldn't be worth it for just a loan or two. If you have a lot, then yes I would definitely recommend using them. They are very helpful!

Posted: Tue Mar 27, 2007 5:43 pm Subject:

Most people have had luck going it alone. All you need to do is a little research and familiarize yourself with local loan statutes.

I too have 10 PDLs. Were they able to make arrangements with all your PDLs? Were the payment plans good? I have already paid so much on theses PDLs. Sorry, I have so many questions.

Posted: Tue Mar 27, 2007 5:48 pm Subject:

I have seen where many have gone it alone. I have been reading the various messages on this subject in this forum. I guess I just want to get as much info. as I can.

Posted: Tue Mar 27, 2007 5:49 pm Subject:

No, don't be sorry. Believe me I had a million questions when I first found this site and was trying to get familiar with all this too. I know exactly how you feel though. You are trying to get yourself out of debt but how can you when your whole check is going to just the "interest" on your loans and no principle at all. Believe me I am there.... So far they are doing their best to work with most of them however I'm still looking into finding some addresses for them to send their letters to them. They will go over more details with you as every situation is different, depending on how much you still owe these creditors, who all you are adding into it etc... everyone's first payment is 155$ to get started and then it goes weekly from there. No matter what though it is A LOT cheaper than paying interest on all your loans, trust me, I finally got to see most of my last paycheck and it felt GREAT!! Smile

Posted: Tue Mar 27, 2007 5:51 pm Subject:

It would be great to have control of one's life again.

Posted: Tue Mar 27, 2007 5:54 pm Subject:

I know, it is great and we are all here to help. I'm pretty much in the same boat as you, just one step ahead but I'll answer your questions the best I can and if not I can refer you to some great people who have good advice that will help you! Keep your head up, you found the right place, things will get better!!

Posted: Tue Mar 27, 2007 6:02 pm Subject:

tali 1956...

Read the threads that pertain to your situation. Get to know who your enemy is and their strength and weaknesses.
Know what is legal for them to do, and what is not!

The pdls will threaten you with arrest,jail,downloading you,my personal favorite,and a meriod of unpleasantries,all of which are illegal for them to do. They will also threaten you with fraud for writing "bad checks."

Arm yourself with knowledge!

Posted: Tue Mar 27, 2007 6:11 pm Subject:

I am trying to arm myself. I have found as it appears many at this site that many of my PDLs are not liscensed in my state or operating legally. I guess I am just a little scared to get going but feeling more empowered with each visit to this site and getting ready to jump in there!

Posted: Tue Mar 27, 2007 6:34 pm Subject:

Well, Tali, what I had to do was go through a debt consolidation company (T&C) to get to my pdls because they wouldn't negotiate with me. One of them, (dreaded Rio Resources) wouldn't have anything to do with T&C instead accept $75 payments per month. However, in February, I sent letters to these companies seeking settlements. Ten Dollar (Rio Resources) agreed to my settlement offer, actually less than the offer. Recently, I have had sucess with CashnetUSA and Cash Central for settlements.

I think that what you have to do is know the laws in your state and also know the laws regarding internet payday loans. Also, you might want to try to negotiate a settlement with them or try a debt consolidation firm. Most of them want to see you make consistent payments before they agree to a settlement.

Good luck to you.

Posted: Tue Mar 27, 2007 6:41 pm Subject:

If you have the patience it is cheaper to do it yourself, you will deal with some nasty people and you will have those that are willing to work with you. You have to take a deep breath and jump in as you said earlier. Do your research, know the laws governing your state and the laws that govern the state that the pdl is located in. Always, Always file a complaint with your attorney generals office, this seems to make the pdls more compliant and willing to work with you.

Have you listed your state and the companies you have loans with anywhere?

Posted: Tue Mar 27, 2007 7:00 pm Subject:

When I was beginning the whole process of getting rid of the PDLs, etc., I found myself so upset and confused that it was better for ME to have a company like T&C do the talking and negotiating for me. I didn't have to think about it and I am a major worrier so it was a relief. Paying them to be the "bad guy" eliminated a lot of my stress.

So only you can decide the best way to deal with the situation. If you are strong and stubborn and able to think clearly when stressed or dealing with dumb collectors, etc,. then I say go for it.

Posted: Tue Mar 27, 2007 7:44 pm Subject:

Yes I did list them earlier. However, they are some of the ones I see listed at this site as troublesome.
They are: Authorized Payday, Quickest Cash Advance, Paycheck Today, Upfront Payday, 500 Fast Cash, Payday Cash Link, ameriloan, GFS, Advance Payday, First Bank of Delaware. I have paid over the original loan amount on all of them except First Bank of Delaware my most recent loan.

Posted: Tue Mar 27, 2007 8:05 pm Subject:

i think it's a personal decision whether or not to go with a consolidation company. There a many users here that have posted their experiences with the companies, and you can get a good idea of what it's like. You will also find may examples of people going it alone.

It just depends on how much energy you have to put into it, how much time you want to put into it, and how well you think you can deal with the downright crazy lies these pdl's will try to tell you. Consolidation is an extra cost, but it may well be worth it to not have to deal with these people yourself. But as has been posted, it's still cheaper then what you've been paying in "interest".

If you do decide to go it alone, please read up on what these companies will try to scare you with. If you are prepared for it before hand, it's not as scary, although I knew what to expect but was still very rattled when it happened.

There's a wealth of information on this site and many people online that can help you with their experience and knowledge.

Good luck with whatever way you decide to go!

Posted: Tue Mar 27, 2007 8:14 pm Subject:

I am doing both..I figured the with ones that are way overpaid it was really easy for me to send them emails..4 of them marked my loan pif immediately..4 others where playing hardball and now I dont even hear from them at all..2 I am trying to make payment arrangements with and 3 I consolidated payments.. being like $70 bucks a month for 5 months..So read up more about these pdls on here and trust me you'll figure it out..Tomorrow marks my second paycheck I will be seeing in the last 9 months.

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