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 Posted: Mon Jul 02, 2007 3:28 pm Subject: Thanks to this site I just received $500 from PDL |
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Thank you so much for this site & all the information! Just a few months ago, I was so overwhelmed because I was in the unending cycle of paying on my payday loans every month without ever paying them down or any hope of paying them off. (I had 3 internet loans)
I came across this site and read and read and decided to close my bank acct and try to negotiate my loans. I closed my acct, but was too overwhelmed at trying to figure out the Texas Laws and tired of even thinking about these loans, so for about 2 months, I did nothing. I received calls ALL day long both at home and cell, but never answered or returned them.
Finally, about a month ago, I got the courage to face this and I emailed the one company that I knew I had better take care of due to what I had read... cashnetusa ... I did still owe them money since the loan was fairly new, so I offered a payment arrangement that I could do (3 months) and they emailed back that it was acceptable. Whew.. small load off my back.
Now for the other 2 that I had been paying on for over a year... paydayok & paydayselect. I came up with a very simple letter (EMAIL) to send to them ( I was very confused by some of the more complicated letters I saw and I still didn't understand the Texas laws so I just kept it simple) Here's what I sent to both companies (which are actually the same company afterall)
| Quote: | To Whom it May Concern,
Please mark my account PAID IN FULL. I have calculated my payments and I have paid back much more than what I legally owe you. To date I have paid $1600 toward the $925 that you loaned to me. (over $1100 in fees) According to the Texas Small Loan Rate Cap, I have overpaid you and I would like a refund of the amont overpaid. I have CLOSED my checking account that you debited from because of some other unauthorized transactions. Please cease all phone communications with me and mark my account Paid in Full and refund my overpayments. If this request is not upheld, I will be forced to inform my attorney general of your actions and your illegal operation in the state of Texas.
Cordially, |
I sent the identical EMAIL to both companies only changing the dollar amounts since they were different. This was on June 10th, I believe.
On June 11th they responded (both from Jessica S) with the same email offering a $250 settlement and saying they would fedex me a release. They asked me to verify my address. I emailed back & verified the address.
It took 2 weeks before I received the papers via FedEx, during which time, I called twice to check on this, and they were very friendly. I received the papers which were legal papers stating that I would never come back and sue them basically, and I had to get these notarized and sent back. Turns out that both went to the same office in my hometown of Fort Worth, TX, so I mailed it back the next day (last Wednesday)
Today, July 2nd, I received the 2 checks for $250 each!! ( I did read some posts that indicated that I probably could have called and gotten even bigger settlements, but I was just so anxious to get it done as easily & quickly as I could!) WOW! In less than a month all this took place!
I would never have been able to do this if not for all the great posts and advice that I read on this site! THANKS TO ALL the people who have taken the time to help others on here!
Warm Regards,
LB
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bribrad7
Joined: 27 Mar 2007
Posts: 2
Debtcc Points: 97
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| Posted: Mon Jul 02, 2007 3:31 pm Subject: |
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Congratulations!  That is really great news. Once you get armed with the knowledge on how to deal with these unlicensed internet payday loan companies and a little hard work, it is possible to overcome them and get out of pdl hell!
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WHEREAMI
Joined: 26 Aug 2006
Posts: 5324
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| Posted: Mon Jul 02, 2007 3:36 pm Subject: this site is what armed me with the knowledge |
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Thank you so much! It is such a relief! I would have never gotten out of this cycle if not for this site! I spent so many hours just reading posts before I felt courageous enough to act, and now I'm so glad I did! THANKS again!
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bribrad7
Joined: 27 Mar 2007
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| Posted: Mon Jul 02, 2007 4:05 pm Subject: sucess |
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Congradulations. I know this has taken a great deal of stress out of your life. Glad it worked out so good for you. KYSIDE38
_________________
RYDERS OF THE NIGHT
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KYSIDE38
Joined: 19 Jun 2006
Posts: 2502
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| Posted: Wed Jul 11, 2007 6:42 am Subject: |
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Wow, that is awesome!!!
Crazy that both of the companies are run by the same person. Enjoy that extra cash and the huge relief!
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surveygrrrl
Joined: 01 Jun 2007
Posts: 152
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| Posted: Wed Jul 11, 2007 6:45 am Subject: |
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Congrats!!! Feels great doesn't it.
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bflow30
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bflow30
Joined: 15 Jun 2007
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| Posted: Sat Jul 14, 2007 1:20 pm Subject: |
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BRAVO!!!
I love to hear these stories...keep 'em coming!
_________________
~A journey of a thousand miles begins with a cash advance~
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erzeke1
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Joined: 26 Mar 2006
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| Posted: Sat Jul 14, 2007 1:25 pm Subject: |
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That's fantastic!! Good for you! Now you can relax and enjoy yourself!
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"It's a treat, being a long-distance runner...."
Allan Sillitoe, The Loneliness Of A Long-Distance Runner
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finsfan13
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| Posted: Mon Aug 20, 2007 3:52 pm Subject: |
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It is great news to finally get some cash back from the place that has been robbing you blind isn't it. CONGRATULATIONS. I hope you bought yourself something nice.
ladybug
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ladybug
Joined: 29 May 2007
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