Marcia Brady’s Lovechile tells all . . .

I can tell you one thing, and I mean no disrespect - just voicing my opinion base don my phone call with the lady at your fimr - I do not appreciate anyone who cannot answer questions. She did not like me asking questions at all.

Therefore, I am going to mull it over for a while and reconsider.

If you have any questions weren't answered by my staff, please direct them to me in either a PM here or an email to dwilliams(at)langhornelaw.com. I'd be happy to answer them.

In general, I've instructed the non-attorneys on my staff not to give any legal advice and defer any questions that require a legal opinion to me. If I'm not available at that particular moment, they can set up a time when I'll call back. I don't know if this is the situation that occurred in your specific case, but I just wanted to explain the general rule at my firm.

check your pm - thanks!

Jeff, your poor cat, he must be very patient to let you dress him up like that. LMFAO. Thanks :)

Not my cat. I don't even own one. I just found that pic online.

Wouldn't catch me eating that type of bread in the background anyway.

Hey, that could be some Zingerman's kick butt Sourdough dude, you sure?

R U referring to the Zingerman's in Ann Arbor?

Well, I just know it's not Winston's Irish soda bread.

Don't really care whose cat it is I still laughed. Have a good weekend all :)

Jeff,

I like the pic of the cat. Can you find me one for a new avatar? I'm getting tired of being referred to as the butch girl :oops: Amanda, I'm glad that you are on your way out of the pdl trap. I have spoken to a couple of diffrent members on the forum and they only have positive things to say about Langhorne Law so far. We need more places like this because a lot of places are afraid to get involved with payday loans.

I'm digging the cat . . . mind if I turn that picture into this year's Williams family Christmas card?

Marcia, I want to talk to you about the SOL thing explained in this post

[quote=Marcia]I believe what I said was that making a partial payment on an old debt does not renew the SOL because SOL's are based on the date the contract was breached. (i.e., when it went into default) So if I stop paying my Citibank bill in NJ, for example, I can be sued up to 6 years after the date each payment fails (as to that payment alone) until such time as the whole debt is accelerated. If a year later, I send them a few hundred bucks, that doesn't change the SOL as to each of the previous payments.

Where a lot of confusion arises is that the date of "last activity" is so crucial in determining how long an item can remain on your credit report. You could have a ten year old credit card bill that doesn't even appear on your credit report anymore - (because of its age), make a payment (ex., it they got a judgment, you might need to clear that up to buy or sell a house) and suddenly it can legally re-appear on your credit report because of the recent activity on the account. [/quote]

I understand from your post that legal actions cannot happen after the debt is past the sol period. And it won't get renewed with a small payment later. Right???? The sol stops legal actions after it is expired.

But suppose, if I make the payment anytime later, the date of default changes, isn't this again getting renewed and giving the new calculation date to consider for SOL and force legal actions?

No, it shouldn't renew the SOL if we're talking about a typical consumer credit agreement.

Let's say you owe Citibank $2000 on a credit card. Your minimum monthly payment is $75. As soon as you miss a payment you are in default on the contract, subject to any grace period written into the original document. Let's say it's this month's payment that you missed and you don't make any more payments. Late fees accrue, etc. Eventually, they are going to cancel the card and accelerate the debt. Once this happens the contract has been cancelled due to your default. Any subsequent payment you make would have to be credited to the overall balance, but, absent a new agreement between you and Citibank, it wouldn't reinstate the contract. So, depending on the state you live in (or, more likely, the state whose laws govern the contract)they have anywhere from 2 to 10 years from the date you originally defaulted to bring a lawsuit. But they cannot use the date of your subsequent payment as the start date, because the contract was already cancelled and no new agreement was formed.

The exceptions to this would be if:

(1) you made the payment before the original contract was cancelled and the debt, so the original contract remained in effect. (In my example, this would mean you got caught up with Citibank before they cancelled your card.); or

2) You made the payment as part of a new agreement in which you either (a) explicitly agreed to toll the SOL (assuming this is permitted under the applicable state law); or (b) entered a completely new agreement with Citibank, i.e., they agreed to give you a new card under a new contract.

#1 is common sense of course, and I doubt you were referring to that type of situation. And #2 is probably pretty rare these days. I used to see a lot of it back in the 1990's when I did consumer bankruptcies. Sears was big on offering people that filed Chapter 7's a new charge card if they agreed to re-affirm a portion of the balance on their old one. (If you aren't familiar with bankruptcy, reaffirmation means an agreement to allow a particular debt to survive discharge, subject to court approval.) Since the new bankruptcy laws drastically reduced personal filings, it probably isn't something most creditors would be interested in doing today.

But here's what Citibank could do in that situation. It can report the activity on your credit report, along with all the associated data (balance, status, etc.) for the permitted period of time following the date of that last payment. Even though the account might have been closed years before, your payment would be "activity" on that old account, and the Fair Credit Reporting Act allows creditors to report data for a specified number of years following the most recent activity on an account. So even though, Citibank might not be able to show the old 30, 60 and 90 day lates it could list the payment and, with that, the account status (i.e. "Charged Off.")

Hope this helps. If you need to know the exact number of years it can stay on a credit report under FCRA, I'd have to look that up. I used to be able to recite that law off the top of my head, but it's 1:20 A.M. here and I'm lucky I can remember my name right now . . .

Oh yeah, it's . . .

Dennis,

I have a question for you. I just disputed a CA on my Trans Union credit report. It was from a pdl lender who wrote my balance off. I have a letter from the lender and the CA that states this as well but they aren't going to remove it from my credit report. If I remember right, I send a validation request to the CA and they never responded to it. What can I do now besides file a complaint with the FTC?

If the information itself is inaccurate, you could file a lawsuit alleging that Transunion and the CA are in violation of the Fair Credit Reporting Act and, potentially, state defamation laws. (I'd have to research it to see if you need to go through the FTC first. You may need to "exhaust your administrative remedies" before a court can hear the suit)

But unless you can prove that you suffered a monetary loss as a result of this report, the only relief you're likely to get is an order compelling Transunion to remove the disputed item. So while this is a great idea theoretically, it isn't a very practical one.

It might make more sense to get yourself a roll of stamps and treat it as a credit repair matter. Every time Transunion says they verified the debt, send them another letter telling them their wrong. Don't let them punt it back to the CA either. The FCRA says Transunion is responsible for the accuracy of the report. Eventually, they will take it off.

Quote:

You might well be right, LCW. I can't claim to be an expert in credit repair. Most of my knowledge comes from the research I did into the FCRA and the Credit Repair Organizations Act back in 2003 for a start-up credit repair company. I don't recall that particular detail in the Act itself, but it may be something that appears in the regs the FTC adopted.

One tip I can give, though. I'm sure your aware that the Big 3 (Transunion, Experian and Equifax) are all in the credit repair business now, though they call it "Credit Watch" or "Credit Protection" instead. What one cost them millions of dollars each year (in labor and opportunity costs) turned over $100 million in revenues between them last year (according to one report I saw online, I believe on the Forbes website.) This is purely anecdotal, but I have a couple of friends that bought top tier memberships in some of these and everything they disputed with the CRA's was dropped from their reports, no questions asked.

Anyway, I'll look up a couple of things in the office tomorrow and see if I can't give you a more complete answer to your question.

I just want it removed, I disputed them online. So I will wait a week or two and drop a dispute in the mail with a copy of the letters that I have. Trans Union is really good about removing things though.

so mr. langhorne, if i don't pay the pdls and i pay you how does that work? if i have many pds can you help me get those done too? i saw your sight and it looked like you have fees that i would pay to you right? i just want to get rid of all of them i have more than 3 now.

JJ- I've reviewed the information and spoken to the office. This is how it works(briefly), they take the total amount of your principal(not the interest and fees)and they get 25% of the total, if your plan is 6 months long that is it, if the plan goes beyond 6 months then there are administrative fees. You save the alotted amount every month, they get a specified amount out of the savings everymonth for their payment, the rest remains saved until there is enough for Dennis to begin settlement of your loans. It may actually occur that you have saved more $ then necessary, that is yours when all is said and done. For more information I urge you to contact his office for a consultation, there is no obligation, and they are very friendly. Good Luck to you.

pauli, 25% is more than i pay for some of my loans, how can that be better???????????????

JJ, if you are only paying 25% interest on your loans or have gotten the companies to agree to settle for 25% of the principal only that you owe, you are doing better than the rest of us at negotiating with the PDL people and you should share your secrets with the rest of us.

The only thing I was doing was answering your question with answers I got from Langhorne Law themselves when I actually called and spoke to them. If you want more specific answers than I have given I urge you to contact them and ask your questions. I don't work there I was just sharing info I had gotten. And by all means I was not saying it was better than what anyone else is/was doing, it is just another option for anyone who wishes to exercise their right of choice.

JJ when she told you that they get 25% that is based on getting your loans settled at 50%, so you would be saving money. Ex: if you have $1500 in pdl debt, they would get that settled for $750 and they would charge 25% based on the $750 not the $1500. Does that help?

Steelers1 to the rescue again. Thanks for clarifying that I couldn't get the words out right :)

It was VERY nice of you to go out of your way to make that phone call!

I had my reasons also but I don't mind sharing what I found out. Thanks..did you get your HOF votes yet you don't have your banner yet.

I have to send in my pic., I'm having trouble though, I don't have any downloaded and I can't download any until I find the thing that hooks up to the computer to download them. I may have to go buy another, I tried scanning one but it came out strange.

And if the PDLs aren't licensed here, he'd negotiate for even less, I think he said about 20%

Ok here is my opinion so take it as you will ... (I have not viewed the website the link has been taken down)

Your trolling for client's .... Hence the postings on this site, which is very reminiscent of Solidium. I applaud what you are attempting to do; most bankruptcy attorneys have turned to becoming negotiators. This is not a surprise to me. It is about money. What will your fee structure be like, will you go with the traditional "we will charge you x % of what we save you?" or will you go with a flat fee basis? . Where will you make your money, cause unfortunately the majority of the law field (I know quite a few) are not in it for the love ... they are in for the money. How will you apply yourself to arbitrations claims (where applicable and enforceable) more so how will you apply yourself to the client when a DC files a motion for ADR and it is granted, i.e. particularly PA where when a motion is submitted to the courts for ADR and there is no response from the "debtor" that a default judgment will placed against them?

What is going to make you stand out and shine with all of the "predatory" Debt Rescue organizations popping up and being shut down every day? Will you Escrow your clients money? Will they hold their own?

Again I have not seen your website, so a lot of the questions may be answered there. But from what I can see this is just advertising, a debt negotiator is really nothing but a debt collector talking to another debt collector in the scope of things.

It is always about the money where can it be made now ... Economy is "supposedly" on the rise so more people will be rebounding from the spot that made them get a pdl. They're more money for you.

If you want to proclaim a true "I've seen the light" story then use your skills to undo what you have done, you know the model break it down. Unfortunately PDLs are needed. But not at Loan Shark rates, work on that and then you can be a ???????savior??????? other than that you are charging people for ???????your personal relationship with the lender --- Which by the way in most cases don????????t mean squat, due the fact PDL paper is being turned faster than CC accounts are. ------ Most DC agencies out there that are specializing in PDL collections are utilizing and prepared to go to Small claims and/or Arbitrations, There are people with x2 judgments already filed against and live in an apartment (meaning no property assets) that are being filed on.

Please respond....


Just Curious

I'm wasn't aware that I'm trawling for clients, Curious. If I were I'd be writing a lot more posts myself (to keep the link live no matter how vigilant the moderators are) and I would be PM'ing everyone that writes a post seeking help in their personal situation. I haven't done either. In fact, there are few if any posts that I've written where I even include my firm's name. (The picture to the left doesn't is just a .gif file. It isn't a link. If someone searched "Langhorne Law" it would not cause them to be directed to anything I've written.)

But it is always nice to see someone out there counting my money for me. Perhaps I can fire my accountant and let you do it for free.

Gratuitous digs aside, you've "called me out," I will take this opportunity to respond. What makes me different from all other debt settlement companies is that 1) I am real lawyer and 2) I am the only one out there that is willing to take on payday loan debt on a full-time basis. Call any of the debt settlement outfits that advertise on this site or in paid searches on Google or Yahoo, and you will get the same response. They won't take you on as a client unless you have at least $10,000 (some require $15,000) in credit card debt and they will not include payday loan debt in their plans. So the payday loan borrower is left with less options - credit counselling, do-it-yourself debt settlement, keep paying outlandish fees, or close their bank accounts and keep their fingers crossed.

What also separates me is my background. I collected payday loan paper, but that was a very small part of my practice. Most of my practice was corporate work for payday lenders - creating their business models, assisting them with licensing and advising them on legal issues that arose. I don't have to guess what lenders are going to do, and I don't going to waste my clients' time by treating payday loan debt the same way I would handle conventional debt. I know what pressure they will respond to and I know how to bring that pressure when necessary.

As for client funds - I do not escrow client money. I take only my fees. My clients all have an option. They can save the money themselves to fund any settlements they reach, or I can help them get set up with an FDIC-insured special purpose account through a third-party vendor. But it's always their choice. More important, it's always their money and they are always in complete control of it.

As for your claim that debt collection agencies are getting 2X judgments, you have a very rich imagination. Most pdl's do their collections in-house to avoid fdcpa complications and I defy you to show us a single case wher ACA, PD Recovery, Fred Kelly down in Houston or any of the very few third party collectors handling this paper have filed suit or gone to arbitration.

It isn't about who I know, Curious. It's about what I know. And you and your friends in the industry would do well to remember that. (BTW - Tell the boys in OLA that next time one wants to play agent provacateur, they should do a better job at it. I doubt anyone reading this thread believed you were "Just Curious.")

I'm well aware that this thread has been closely monitored by the lenders. (One has even gone so far as to .pdf the entire thing and circulate it among the industry trade group.) Perhaps if you and the rest of the industry actually did some of the things you say I should make you do, there wouldn't be a demand for my services.

MBL:

I for one am very grateful for your "about face." You have given very informative, valuable information in your posts. Also, I have talked with a few of your new clients, and they are very satisfied with the proposals that you set up for them. Please know that the ones commending you very much exceed the skeptics.

Thank you, dbaker6. I'm an educated man, but I don't have the vocabulary to tell you how much it means to me to read what you've written.

You're more than welcome, MBL. You are a very valuable asset to this forum.

I very recently became a client of Langhorne Law, and although I have only been with them a short time and have not begun the orientation as of yet, I am very impressed with what I have seen and Joan has been an invaluable asset with any questions I have or concerns that need to be addressed. I will be happy to keep everyone updated on how things go, but this is the most promising resolution I have seen yet! :lol:

I am currently in the process of working with Mr. Williams and his firm on clearing up all of my payday loan debt. I wanted everyone to know what a wonderful, knowledgeable and courteous person he is, as are those who work for him. Already the harrassing phone calls have stopped and I sleep better at night knowing that this is being taken care of by a professional that knows the system inside and out. Feel free to check out Mr. Williams with the PA bar, it all checks out, I know because I checked. For anyone else in my same situation, I strongly recommend that you consider using Langhorne's services to clear up your Payday Loans. :)

mrsnawahine, i have talked with them also but don't share the same feelings. i have $900 in payday loans and the bottom line is that they can only save me $225 over the 6 months and then when i tell my loan companies that they were doing this for me they told be they don't work with this company as he is still in the payday business with some other guys that are not on the up and up. it sounds just like another way for someone to take my $$ and i don't like it at all.

A lot of payday lenders will state they don't work with debt settlement or debt consolidation programs. They told me this when I entered into debt consolidation with T & C last winter but they cashed the checks. I think the service that Lanhorne Law is providing is a great relief to many. He used to be a collector for the payday loan industry so he knows the tricks of the trade. I think this will be a great benefit to his clients. I've only heard positive things about this. :-)

Here is the scenario.....Williams will take your money to settle debt instead of you just paying your debt off with that money, then you will default on your payment plan, your pdl company will take you to court for default and guess what, Williams is the one who makes all the money, you still owe the debt and you will look like a complete fool. My guess is this will be the case about 85% of the time. You know the old saying, snakes or lawyers, who knows!

I believe, I could be mistaken, that there is a written agreement regarding the settlement or else they don't get any funds to go towards the settlement agreed upon for the debt. People can settle debts on their own if they choose, but some don't know how or prefer to have a company or another person, which may be an attorney do this for them for a fee.

Actually, I think you should get your facts straight before saying anything, guest. One person who Langhorne Law is working with said that the client is responsible for saving up so much settlement money per month, putting it in his/her own account (which will add interest, as well) until the time comes that Langhorne Law negotiates on the settlement. How can you be so down on a firm you obviously know nothing about?

are you kidding me. get the facts straight. you are trying to tell me that Dennis Williams who has been in bed with the pdl cos for years has all of a sudden turned over a new leaf? he is taking money from us and trying to feather his nest because he knows that people will pay him to "settle" debt. the reality is you are only saving about 25% off of what you owe aftewr you pay him. how can you not see that?

Get your facts straight, he is actually getting people's accounts marked paid in full without paying another dime. Have you requested his services? If not how do you KNOW what he is doing for others? Time will tell, and any savings his clients receive is a savings and to some tht 25% may be alot.

Is there anyone who has been through this process with Langhorne Law who can give specifics on this?

I just was talking to Langhorne Law today and was informed that they send out the settlement offers and negotiate with the pdls to get a settlement, when a tenative settlement is agreed upon with you (the debtor) they inform the pld manager and then you send the $$$ via money order directly to the pdl manager. I am now at this process and so excited to be ending my nightmare of PDL....NEVER AGAIN will I do this to myself.

OK. Now this is quite the oposite of how they tell others they operate and should be a red flag. Now haven't they told some that they have you build up a "savings account" and once it reaches a certain amount THEN they contact the pdl companies to negotiate a settlement, and Langhorne uses your bank info to withdraw your savings payments? And didn't they tell others THEY send the settlement payments to the pdls? Hmmmmmmmmmmmm, YOU send the settlement payment DIRECTLY TO THE PDL? Hmmmmmmmmmm What the hell are you paying them for? You can do this on your own.

Steelers, perhaps I wasn't clear. I have been over the last several months saving my $$ and now since I have reached my goal Langhorne will begin negotiations on my behalf with the PDL's. When the PDL Manager agrees to their settlement offer(s) then they get the manager to sign off on the agreement and notify the client who at that time, sends the $order to the PDL. When the $order is received by PDL then they sign that debt is paid in full and Langhorne then sends you copy of the document. I haven't received any calls from any of my pdl's and personally I would rather go to the bank and put the $ in the mail myself, that way I know where it is going and have a receipt of the $order, rather than anyone taking out of my account to send on to a pdl, then I wouldn't be sure if it really went where it was supposed to go. I have been very pleased with Langhorne.

Gotch ya. It didn't say you had reached your savings goal for settlement.

my bad, but I have done it and oh boy what a stress reliever that is :)

Hi,

Do you help consolidate store front pay day loans in Aurora,IL. They are check n go, the paydayloan store. I live only a few miles away and they are both in serious default. Please help.

Thank,
James

James this is just a thread started by Dennis about his company which helped make the internet pdls what they are today, he is saying he is now helping the consumer get out of pdl debt. But he won't answer your question on this thread, you will need to contact him.