Concerned about phone calls to friends and family
Date: Sat, 08/19/2006 - 09:58
When I applied for my PDLs, my lenders required "personal references". I assumed these references were similar to other lending experiences and stuff where they use these people to come find me if they can't get a hold of me for some reason (i.e. change of address, change of phone numbers, etc.). I listed my parents and a co-worker friend of mine.
Now that I have defaulted on my loans, I don't plan on hiding from them but I'm going to send them letters to not call me and to just send me letters and stuff but I want to keep the communication open until I can resolve the loans. Resolution of these loans may not come for another month or so while I try coming up with the money.
Can and/or will my lenders call my references to harrass them about the money I owe? From what I can recall, it is against the law for them to mention my personal business to others, however, the law doesn't seem to usually stand in the way of these people from what I've heard. Thanks and I'd appreciate any input.
Hi eamuscatuli All lenders use different approaches when dea
Hi eamuscatuli
All lenders use different approaches when dealing with their customers. Some are very much famous for their aggressive behavior and do not co-operate with people in anyway. Some of these companies are discussed in the forum here and you will know what type of tactics they use.
There are a few who understand the problems of people and do as you insist. I am not sure which lenders you are dealing with, but since you are defaulting on your loans, it will be the best move to call and explain them about your situation. Tell them that you are likely to pay the full amount by next month. Explain everything very politely and I hope they understand you. You don't want your friends and relatives to be bothered by the loan company. Assure them of your payment plans first because it is the baseline on which everything depends.
neighbors and friends
Hi There, Unfortunately I know from past experience the online lenders will call family and friends and even your employer. They are a hard bunch of people to work with. Maybe just explain it to your family and let them know what to expect. Good Luck KYSIDE38
Two questions... what should my family and friends expect the le
Two questions... what should my family and friends expect the lender to tell them? And how long will it take before they start calling them?
Hi eamuscatuli At the most, I will assume that the lenders w
Hi eamuscatuli
At the most, I will assume that the lenders will try to locate you through your personal references if they don't hear anything from you. But if you keep in touch with them and explain your situation, they don't have any reasons to call other people. It's important that you present yourself in front of them before they reach other people and put you in an embarrassing situation.
I agree with Christina... As long as you keep in contact, th
I agree with Christina...
As long as you keep in contact, there really is no reason for them to call anyone else.
Even though you may not have the money to pay them for another month, get a hold of them NOW to prevent this. It looks much better if you're up-front and tell them exactly what will be going on.
Good luck..I've been right where you are, and it doesn't have to be completely ugly. Let us know how it goes.
Hi those lenders will do anything to get their money. But if you
Hi those lenders will do anything to get their money. But if you keep contact with them there might be a chance that they won't call others. The lenders shouldn't talk to the family and friends about the debt. They should just asked where you are and how to get in touch with you.
Good luck with everything. I will be praying for you.
Do what the others have suggested and stay in touch with them.
Do what the others have suggested and stay in touch with them. I also know from experience that they will call your references especially family members, we had one call my mother-in-law and tell her they needed to talk to my husband about "bank fraud". What a bunch of baloney, bank fraud but she was concerned to say the least. We kept our families out the mess and have now almost recovered from all of it. Like fins said it doesn't have to be completely ugly and most of us have been there unfortunately. Just remember we are here to help and listen whenever you need us.