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I wonder if this will work?

Date: Tue, 12/05/2006 - 08:14

Submitted by KSpenneberg
on Tue, 12/05/2006 - 08:14

Posts: 27 Credits: [Donate]

Total Replies: 18


I have taken a total of 4 payday loans out with paydaymax.com

The first 3 were piad in full with me paying a total of $721.06 on a $400 loan.... $883.80 on a $400 loan ....and 831.79 on a $380 loan.

I'm in Indiana and I think my max interest is 15 dollars per 100.

I now have a loan that I defaulted back in August on and the total amount of the loan was $500. I paid a total of $167.58... which tells me i still owe $407.42.

I wonder though ifI can send them an email with my loan history and how much I overpaid and a copy of my state's laws and if they will mark my account PIF?


Payday Lending is Legal in Indiana under the following termLegal

Quote:

Status: Legal

Citation:
Ind. Code Ann. ???? 24-4.5-7-101 et seq.

Loan Terms:
Maximum Loan Amount: $500 (not to exceed 15% of borrower's monthly gross income)
Loan Term: Min: 14 days
Maximum Finance Rate and Fees: 15%: $0-$250; 13%: $251-$400; 10%: $401-$500
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One per lender; Two total
Rollovers Permitted: None (cannot renew, repay, refinance or consolidate)
Cooling-off Period: 7 days after 6 consecutive loans
Repayment Plan: After 6 consecutive loans, lender must impose a 7 day cooling off period or convert to an installment loan payable in more than 4 installments at a rate no greater than 36% APR

Collection Limits:
Collection Fees: One $20 NSF fee; additional charges may apply when check or authorization to debit was used to defraud another
Criminal Action: Prohibition

Where to Complain, Get Information:
Regulator: Indiana Department of Financial Institutions
Address: 30 South Meri dian Street, Suite 300 Indianapolis, IN 46204
Phone: (800) 382-4880
Fax:
Regulatory Contact: Mark Tarpey,, Supervisor, Consumer Credit
http://www.in.gov/dfi/


Polly has a good letter that you can use when dealing with IPDL, just change the information to reflex your state's information


lrhall41

Submitted by bdouble on Tue, 12/05/2006 - 09:39

( Posts: 354 | Credits: )


Give it a try send for the refund all they can say is No. KYSIDE38


lrhall41

Submitted by KYSIDE38 on Tue, 12/05/2006 - 09:52

( Posts: 2477 | Credits: )


KSpenneberg,
I was just dealing with them also. They turned my account to Credit Protection Depot. I spoke with a supervisor there because pdls are prohibited in my state. I paid 325 on a 300 loan and they said i still owed 600+ more dollars. I spoke with a supervisor named Jason and explained my situation with him and told him i was filing complaints with the AG's office. He turned right around and marked my account paid in few and within a few minutes of our conversation i had the PIF email.


lrhall41

Submitted by traci78 on Tue, 12/05/2006 - 12:02

( Posts: 106 | Credits: )


Traci..

Do you have a fax number for them or an email address?

Thanks!!
Kristin


lrhall41

Submitted by KSpenneberg on Tue, 12/05/2006 - 12:07

( Posts: 27 | Credits: )


I went to log into my paydaymax account today and it no longer exists. My passwords dont work...and i tried to reset the password and it still doenst work. Anyone ever had this happen?


lrhall41

Submitted by KSpenneberg on Wed, 12/06/2006 - 06:55

( Posts: 27 | Credits: )


Paydaymax locked me out right after i hung up with credit protection depot on 12-4-06. I tried to log in within minutes of hanging up with them and it said my access has been denied. I even tried again today and it is locked. Its odd though because i logged in the monday morning before calling them.


lrhall41

Submitted by traci78 on Wed, 12/06/2006 - 07:18

( Posts: 106 | Credits: )


My account with them does not work either. I think it stop working when they sent me a final notice. They were about to send my account to a collection agency. You best bet is to speak with a supervisor. I contacted them at least 3 times by phone and 10 times by email. I followed Traci78's advice and was able to get my account marked pif. Make sure you understand your state laws and don't back down.


lrhall41

Submitted by bdouble on Sat, 12/09/2006 - 17:27

( Posts: 354 | Credits: )


You have come to the right place for help, most of us have been there and have some experience dealing with these creeps. I have set up a one stop shop for new people coming on to the forum, you can access your state law and pull template letters all in one spot. Please be sure to read the tips first. You will defineately want to use your own wording and plug in your state information. In the letters I used Pennsylvania's information because that is where I live. You can copy, paste and edit these examples in word then send them however you choose.

To get there just hit my link in my signature section at the bottom of this post.

also, the page is a work in progress, would appreciate any feedback you may have on the poll that is going on for a new blog. thanks


lrhall41

Submitted by fedupinpa on Sun, 03/04/2007 - 09:19

( Posts: 1511 | Credits: )


does any aone have the ifo for T& C i really need to consolidate. I am really depressed over this MESS that I have gotten myself into


lrhall41

Submitted by on Sun, 03/04/2007 - 10:23

( Posts: | Credits: )