PDL LOAN EDUCATION

I guess that was guest's "proper" way of calling us all *******, don't you think?

stanley: you have got to be kidding me. all you provide here is one side of the story, dont' you?

It seems the Guest above does not understand what Stanley has said above. Come on, read it again - loudly and properly...

Guest in one of your previous post, you asked if anyone had been threatened with violence into paying back a PDL. While not violent, I would say that being threatened with arrest, that someone would be at my job or home by 5 pm would be close to it. They are counting on the customer to be stressed enough into paying more than necessary

I'm new at this so bare with me. Re: PDLs, I would just like to say that I was aware of the high interest rates but I needed the money and convinced myself that it was just a one time thing. Then, I saw how easy it was to get these loans and you could get more than one!! What I think is a person's ability to repay the loan should be evaluated. Cash Transfer Centers loaned me $1000 at one time and that is a little more than half of what I bring home a month and I already had 6 other PDLs and they all supposedly use Teletrack...doesn't other PDL's inquiries show up there...they should have know or assumed or even asked if I had other loans.

I will say that right before I discovered this site, I had decided to close my bank account and was a little scared and stressed about the consequences until I found this site.

I am not paying any of them back. Most have received their payment plus some. I'was in the payday loan trap for almost two years.

A Lisa Burton called me today from Cash Transfer Centers and said that if I couldn't call her back by 5pm today..she would not longer be able to "help me"....this was on my message machine. I wonder what that means? I just refused to talk to anyone, I did send emails and letters about my inability to repay at this time.

I'm a single mom with two children and I am so behind on all of my other bills I just cannot and willnot attempt to repay any of the PDLs...sorry to anyone that this might offend.

No offense taken! :D

anyname, your post says that you realize the mistake of taking a payday loan and also refuse to pay anything more than the principal and the legal fees (which you say have done). You have covered your base.

Right. You don't need to pay any more back. You've done what is required of you by law. If you tried to do what the PDL "requires," you'd be paying the rest of your life. Good for you for getting out of the "PDL trap!" P.S. Welcome to this site.

Anyname, Welcome to the forums. Arden said it right you have covered your base here. I would do as dbaker said and pay no more. KYSIDE38

anyname1970--

In your post, you had said that Lisa Burton from Cash Transfer Centers had called you. Well, this is proof that CTC and Paydayavenue are all the same company b/c Lisa Burton has called me before from Paydayavenue. Sonic is also another name they use.

If you take out a PDL online,and if the PDL co.doesn't have a license in the state of NJ,is he illegal to lend money out from state to state without a license?

PDLs are prohibited in NJ.

I had fraudlent activity in my bank account and closed my account.I changed my account and do not want give them my new account # to avoid more fraudlent activity.I want to pay back what I borrowed but,I hear on the internet that people are being robbed of more $ even after they have paid off the loan.

Definately do NOT give them your new account info. Demand a physical address to send the payment in by money order. Which company is this, somebody may have the physical address where you can send the payment.

Get in contact with your Attorney Generals office immediately. Payday loans are prohibited in your state. Also NEVER NEVER NEVER give them your new bank account information. KYSIDE38

Juan is right, FILE COMPLAINTS WITH YOUR AGs OFFICE.

Apollo Group is the name f the company.If they are illegal,they should not be paid any more $.What kind of legal action could they take against me?

Contact your Attorney Generals office tomorrow. Consumer division. They will help you out. They are illegal there. They will threaten you with everything but they should not have gave you the loan they are not allowed in your state. KYSIDE38

Thank you for the info KYSIDE38. I am not worried about being threatened / I read on this website how these lenders and debt collectors threaten you to pay them more $.It never stops!!!!!Would it hurt my credit though? I just got my credit back.

Payday loans usually do not report to credit bureaus. KYSIDE38

QUESTION?????? I had a pdl loan with Cash Advance Network and I paid that off thru money order payments. I am still waiting on the PIF letter. Ok, I reopened my account @ my original bank since I had paid them off. I checked my bank account and now I see that they have debited $228.50 out of my 2 week old acct. WHAT TO DO?????

Nat what state are you in again?

I think she's in NC. But natdust, why did you open the new account again?

NC...I had this loan before I was aware that they were illegal. So, then, I went and closed my account and opened a new one @ a different bank. Then I waited a while and went back to my old one b/c that is where my employer direct deposits. The only problem is, they allow companies to debit using ss#'s. I thought that since I had paid them off, that it would be safe to reopen @ my old bank, but guess not...

KYSIDE38 -I didn't finish paying the loan off yet.My question is,should I still continue to pay them off even though they are prohibited in this state?

They should not be allowed to get into your account. Call your Attorney General and complain. My AG was the one that helped me. I would also raise heck with that bank. KYSIDE38

Natdust--

Are you sure is was Cash Advance Network, or could it have been another pdl?

Sorry, it was cashadvance.net...

And on their website, they plainly state that they do not loan to NC customers. Why did they loan to me in the first place?? And when I asked them about it, they say that they still loan to previous NC customers. I had a loan with them back in 2004 and they still say that even though they are prohibited in NC, they can still loan b/c their interest rate isn't above 36%. If they can loan to me, a previous customer, what is the difference in loaning to a new one in the same state??

Tell them they are not supposed to loan at all. It is prohibited. KYSIDE38

My bank account was compromised by another company via the PDL! :twisted: They took out money using a "no signature required" check for long distance service I never agreed to. Anyway, the rep at the complaint dept. at my bank knew exactly what happened even though I practically stuttered (I was steaming mad) through the conversation. She was very helpful in telling me about the account compromise form where you make a list of all the checks you know you wrote and debits and/or credits from/to your account that are still pending. For 30 days, they'll allow ONLY the companies/individuals on your SIGNED form that YOU filled out to receive their due payments or deposit money into your account (like if you have direct deposit at work or social security checks) WITHOUT those people knowing your new account number unless you give it to them yourself. All other debits/credits will bounce back to that person or company and they'll get an "Account Closed" message.

Example, on my list I include the phone company, my job and the cable company. Oops, I forget to add the gas company. The phone and cable company get their money from my new account (via the old account number) and my job is able to deposit my pay (also via the old account number) for 30 days. But the gas company (having been left off the list, even inadvertantly) has been informed that my account has been closed. And those sneaky "others" who've been charging me and stealing money from me for a service I didn't sign up for is none the wiser. Oh, but of course I will tell my job and utility companies my new account number. I just won't sign up for anymore PDLs with my new number since I now know how they just love to share my personal account information without my knowledge!

But I'd like to know why the bank, if they're already aware of this crazy situation that is frequent, doesn't block these types of transactions until they get your permission. Like call and authorize the check that said "no signature required" BEFORE they allow the shady jerks to withdraw the money? Don't credit card companies call you if a weird charge appears on your statement? Anyway, I'm done with online PDLs! It's not worth it anymore.