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Hey everybody. 6 pdls here, worldwide cash now, ICS, GFS, United cash loans, ameriloan, Cashnet 500. I have gotten behind on my car payment and mortgage because of these loans I very stupidly have taken out. I closed my checking account this morning. I have every intention of paying them back but its going to have to be in installments. I figured this was the lesser of two evils compared with having my car repo'd or the house foreclosed on. I guess my biggest fears are being charged criminally for fraud or something and being harassed at work. If anybody has any advice (or moral support) I would GREATLY appreciate it. Thanks everybody.

Art Vandelay
Vandelay Industries, George Costanza president

Posted: Fri Jul 07, 2006 9:59 am Subject:

Well I also did the same thing you did your not in the Boat alone here that is for sure! I have 4 PDL's out there and I closed my account about 2 weeks ago I have only gotten an email from one of my PDL companies , I also signed up with T & C and they will negotiate or whatever they do with these people so that they hopefully wont harrass me at work I also sent them certified letters about the usury laws etc here in my state as none of my PDL's are licensed in this state So we shall see what response I get from those

Posted: Fri Jul 07, 2006 10:09 am Subject:

Make room for me, because I'm in the boat as well. Blocked my account last Friday and I have received an email from one PDL (FSM Group) so far and received and email and a phone call from another (CashNet500). I had 5 total in this go around. I sent them all letters stating my situation and revoking authorization to debit. This is the second set of PDL's I'm adding to my consolidation program. I have a total of 11 that will be in my program and 4 that I have not heard from. That is a total of 15 PDL's and only one of them is a store front. I don't know what the heck I was thinking, but I was going through some hard times and I didn't know where else to turn. I have definatly learned my lesson in this and I will never look to another payday loan again in the future. I make a good amount of money now and I have a part-time job that pays me pretty well to, so once this is all over I will never need a PDL again.

Posted: Fri Jul 07, 2006 10:41 am Subject:

I'm with you when it comes to ameriloan and United Cash Loans. I'm trying to get them to refund all the interest they've charged. I haven't heard from them in a few days and I'm starting to wonder what's up...

At any rate, I'm positive that they can't charge you with fraud or anything else. You intend to pay the loans back. Most likely, the terms of their loans are illegal in your state. If they're threatening you, they're just trying to scare and intimidate you into paying more.

My husband and I just decided to close our bank account last night. Long story short, our bank was not helpful at all.

Hang in there! At least we're all in this together!

Posted: Fri Jul 07, 2006 10:47 am Subject:

I second you all doing the right thing by closing your checking accounts since there is no money left to pay towards these loans. Now that the loan companies won't be able to take any money from your accounts, some of them are known for using aggressive collections while some are calm with their approach. You have to talk with them and understand their pitch in working with you. Not accepting your proposal will not help in getting their money back. They have to work out some arrangements for you so that you can pay the balance in easy installments.

Art, have you explained the situation to your lenders? I had a loan with CashNet 500 and was in a similar situation like you. I called them and offered my proposal. They kept me on hold for some time before they finally decided to work with me. I guess you will also be able to work out positive things in your favor.

Posted: Fri Jul 07, 2006 10:54 am Subject:

WEll I just got one of the dreaded calls from Mycashnow They told me that the account is frozen and wanted to know if I was going to wire the money to them I asked them for a physical address and she said that they dont have one? What no physical address?
I did list them with T & C but really dont want the calls here at work and i informed her of that on the phone She said they will keep calling but there was no way to send partial payment on this to them as there is no physical address ?? What do you yall make of that besides a line of Crap

Posted: Fri Jul 07, 2006 11:04 am Subject:

I had the same problem with them and they called me at work to. They would not accept any of my proposals at all. I hadn't heard from them for awhile after going back and forth with them and then I received a call from the collection agency my account was sent to. I eventually set a payment arrangement with the collection agency on my own outside of my consolidation program and paid them off in two months. The only way they would accept payment though was from ACH from my checking account. I wonder if the address listed on the www.bbb.org website is theirs.

Posted: Fri Jul 07, 2006 11:27 am Subject: FSM

I recently got a loan with FSM Processing and Am trying to make payment arrangements with them because I had to close my checking account due to them continuously taking out charge after charge. I got an email with some kind of ach authorization form and in the subject field it says: Possible Fraud Investigation/ Final Plea. Am I going to go to jail for this?

Posted: Fri Jul 07, 2006 11:37 am Subject:

Hey guys...
Everything is going to be just fine. 6 months ago I was in the same boat as all of you..I had 6 pdls. Today I am completely totally pdl free...I don't owe a cent to any of them. My advice to all of you is to send a letter with proposed payment arrangements, if you don't have them listed with T&C. Also, send a cease and desist letter. If you contact THEM and let them know what's happening, there is no reason for them to call you at all. And if they tell you they can only take payments out of your account, that's horse poop. Keep at them, they WILL give you their address if they want their money badly enough. Do not-under any circumstances- give them your new account info.
All in all, my payback experience was pretty painless..I really didn't get any threats, and absolutely no calls at work, thanks to the cease and desist. Just relax..Things are going to get much better.
Good luck, all of you, and keep us updated.

Posted: Fri Jul 07, 2006 11:38 am Subject:

You are not going to go to jail. I got an email from them stating they received my letter and that my account was being sent to collections. They said I should here from the collection agency within 5-7 business days. If it's going to be somebody rude who practices illegal collection tactics I'm ready for them.

Posted: Fri Jul 07, 2006 11:41 am Subject:

Hey finsfan, just out of curiousity, did you consolidate any with T&C or settle them all yourself?

I'm a huge football fan too, btw. Sorry to tell you that the Broncos will rock the Dolphins this year, though. Smile

Posted: Fri Jul 07, 2006 11:44 am Subject: RE: Pink Lady

So I should write them a letter with my payment plan on it?

Posted: Fri Jul 07, 2006 11:50 am Subject:

hey krussell,
Broncos huh? LOL!!! Not without Gary Kubiak, and NEVER EVER with Jake Plummer at QB! But..Better them than the dirty Patriots!
No, I never used T&C. I did it all on my own, I had called T&C and talked with them, but it was just better for me to do it on my own. Things went really well, I even got a refund.

Posted: Fri Jul 07, 2006 11:52 am Subject:

KP,
sure, write a letter with your payment plan on it. If you're not with T&C it doesn't hurt to send a "good faith" payment along with your proposal. Make sure you send any correspondence certified, receipt requested. And keep a copy for yourself!

Posted: Fri Jul 07, 2006 11:55 am Subject:

Hey guys, I'm here with you. We had an enormous amount of pdl's both store-front and internet. I've been there with the phone calls, threats, etc. and you will make it through. I know Finsfan did it on her own but I've been using T&C and it's been wonderful so far. We had/have credit cards also so we really needed the debt management program. Don't feel alone, we're all here together and a lot of us are/were in the same situation. You've all taken the first step to be free from the pdl's and that's the best thing. Keep your heads up, PM me if you want specific information. Good luck and keep us updated! Smile

Posted: Fri Jul 07, 2006 11:57 am Subject:

Oh and we all know the NFC is the best fball league in the nation - sorry Fins - I'm a Bears fan you know!!! Wink

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