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WHEREAMI
Joined: 26 Aug 2006
Posts: 5325
71258 Debtcc Points
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 Posted: Mon May 21, 2007 7:50 am
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I think this is really great! Congratulations to the both of you. And way to kick some butt! 
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Fill out the form and get free debt counseling |
With DebtCC you can
- Lower your monthly payments
- waive late fees
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angellcries4279.
Guest
100 Debtcc Points
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Posted: Thu Jun 14, 2007 8:51 am
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Marauders11:
I commend you for all your hard work and the ability to put these payday lenders in their place. Unfortunately, I have not been so lucky with Payday One. I sent a letter similar to yours, only to have them claim that they do not have to follow PA law as they are licensed in Delaware. I then made note to them that according to Delaware Law a loan could only have a maximum term of 60 days, which mine grossly exceeded reaching a term of 210 days.
This was their reply:
| Quote: | Donna,
PayDay One is in receipt of your recent email. Each time you make a payment, without paying the full balance, you sign a loan agreement. At the time of your signature, the terms and conditions of the loan, as well as the length of the loan, begin again. You may log on to the web site and view your loan agreements at any time.
We have honored your request to stop ACH debits from your bank account. You remain responsible for the balance of $122.40 as of today. Late fees accrue at a rate of $5.40 per day. Your loan is currently 6 days past due. If you require payment arrangements, you may contact Account Services at 1-866-580-1227.
We hope this helps to clear up any confusion.
Thank You,
PayDay One Special Handling Team |
My question is now what????
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Guest
Guest
100 Debtcc Points
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Posted: Fri Jun 15, 2007 1:29 pm
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Marauders11:
Thank you for your post. I used a letter similar to yours for Payday-Advance.com. I just rec'd a response that my account was now paid in full! I came to this site to see if there was anyway out of the payday loan nightmare. You have helped me tremendously!
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WHEREAMI
Joined: 26 Aug 2006
Posts: 5325
71258 Debtcc Points
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Posted: Fri Jun 15, 2007 2:37 pm
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Guest, that is great news and congratulations!
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tlemley
Joined: 18 Jun 2007
Posts: 29
1045 Debtcc Points
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Posted: Tue Jun 19, 2007 2:11 pm
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I am in the process of writing letters to 2 payday loans, but my problem is I cant find them on the internet & when i try to call one I can never get an answer. Did you write them the letter before or after you had closed you checking account?
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TweedleDee
Joined: 05 Jun 2007
Posts: 79
0 Debtcc Points
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Posted: Tue Jun 19, 2007 2:14 pm
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I would close your account first, send the letters second. Because revoking your authorization to debit your account isn't going to stop them, even though the law says they have to honor your request. Close the account now, send the letters later.
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Guest
100 Debtcc Points
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Posted: Thu Jul 26, 2007 7:58 am
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Ok , this is awesome!! What are the laws in Ohio? I just closed my account last week. I have loans out with PaydayOK, Payday Select, Cashnet USA, Payday services, Quickest Cash Advnance, and one more. I have called Langehorne Debt solutions to help me. But they cant start until I pay the fee which I can't pay until August 30th because I am broke and I promised myself I would never take outa loan ever again!! Do you think I'm ok? I've gotteb one call at work all ready from Cashnet USA, the other loans won't know anything until the end of July, when they try to get there money out. Am I going to be ok? Do they report anything to the credit reports? Can they tke my wages?
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ladybug
Joined: 29 May 2007
Posts: 1947
18548 Debtcc Points
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Posted: Mon Aug 20, 2007 3:40 pm
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It is amazing what you have been able to accomplish. You write wonderful letters that are right on target and get to the point. Good for YOU:)
ladybug
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Guest
100 Debtcc Points
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Posted: Thu Nov 08, 2007 1:04 pm
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I just read your success story and I was just about to give up on dealing with my payday loans and came accross your post. Thank you so much for posting your letters and what you did to resolve your pdl's. I am going to do the same thing. I already started last week on making some sort of payment agreement with some of my pdl's. But; now that I know the law a little better (and I live in PA too!) I know that there is light at the end of the tunnel.
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TMBL
Joined: 11 Sep 2007
Posts: 115
2222 Debtcc Points
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Posted: Thu Nov 08, 2007 1:17 pm
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I would like to also congratulate you! Your letters are awesome! I have a few lenders I have over paid also according the the laws of my state and you have just given me inspiration!
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another pa person
Guest
100 Debtcc Points
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Posted: Thu Nov 08, 2007 11:41 pm
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i wanted to thank the original poster for the payday ok info. i emailed like you did, and not only got my current loan paid off, but also got the initial 250 settlement email first, then i pushed, and got the 500 settlement.
this worked out great. thanks!
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Nursie32
Guest
100 Debtcc Points
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Posted: Thu Feb 21, 2008 3:22 pm
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I too am in the same boat. I have 6 defaulted loans and am being hounded by nasty unprofessional collections agents. How can i find out what the statutes are for each of these companies so that I may word my letters. HELP>>> I am scared and desparate. I too closed my acct and opened up a new one, but everytime my deposit goes in I am scared.
Please email me with suggestions at nursienky@hotmail.com.
Thanks,
Regina
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