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pdls nightmares

Date: Fri, 10/27/2006 - 10:09

Submitted by anonymous
on Fri, 10/27/2006 - 10:09

Posts: 202330 Credits: [Donate]

Total Replies: 4


Pls. let me know what i should do. I have 4 pdls. I think i have paid gfsil like three times what i owe them. I'm thinking about closing my bank accnt. and reopening a newone, and make arrangements to pay later,since right now, I'm behind on my water and light bill,and my daughter's school. I really can't sleep at night, I have nightmares about these loans, I wish i would've never found their site!!!! I did have financial problems before but was always able to pay my bills, thing that I can't do now. pls. give me advice. :(


At some stage, you'll need to close your checking account if you seriously want to stop your money going to GFSIL. Close the present account because your info is with them and they will continue to debit as long as it remains active.

Why are you thinking of paying more when you feel already paid them three times the principal amount? You don't have to make arrangements anytime if you have covered the principal amount. Their charges are BS because they don't follow any of the state laws. You are just supposed to pay them principal amount and as you have already done that, take a strong stand


lrhall41

Submitted by ArDeN on Fri, 10/27/2006 - 12:37

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What state are you in? We can provide a link to help you understand them and then you can go from there. But ArDen is right, you wil need to eventually close that account or this company will continue to take your money. And if you have already paid 3x the original loan amount and significantly over the legal interest rate I would demand they mark your account paid in full, and don't fall for the threats of charging you with fraud or arrest.


lrhall41

Submitted by WHEREAMI? on Fri, 10/27/2006 - 13:03

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I'm in Puerto Rico. I already went on saturday and placed a stop payment on all of them, but I'm not sure if that alone would work, I still feel like closing my accnt. I don't trust just blocking them, I feel like they can still get to my accnt. What do you recommend.


lrhall41

Submitted by on Mon, 10/30/2006 - 06:15

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This is what I found on Puerto Rico's pdl law, they are required to follow your pdl laws and a cap is set at 36%. Try reading the article at this link: http://www.consumerlaw.org/initiatives/payday_loans/pay_menu.shtml and scroll down to the III section. It discusses Virgin Islands and Puerto Rico briefly. I'm not sure what your bad check laws are, but I know that in OH pdls can not seek criminal prosecution for pdl default or prosecution of cancelling the pdl check and closing the account. I at first put a block on my account and at the request of my credit union, closed and opened a new account.


lrhall41

Submitted by WHEREAMI? on Mon, 10/30/2006 - 08:01

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