Final payoffs on PDLs

Date: Mon, 01/01/2007 - 21:25

Submitted by anonymous
on Mon, 01/01/2007 - 21:25

Posts: 202330 Credits: [Donate]

Total Replies: 10

I am currently paying off 'many' PDL's that I defaulted on. Four of these are internet PDL and are not licensed in my state of Oregon. Can I refuse to pay any additional amount above the principle owed? I've read some horror stories on this forum, but so far everyone is working with me. The toughest to work with has been mycashnow. They have said they will talk about a final settlement after I have paid the original $1000.00 principle. I will have this done next month. I just want to know if I have some leverage since thsy are not licensed in my state. I have already contacted the Oregon DOJ, and they want all my copies of agreements from the unlicensed lenders when I am ready to send them in. I think they need proof that the lender made the loan knowing I am an Oregon citizen. This is clear since all the PDL contracts show my address.

Since they are not licensed in your state and your state laws re

Since they are not licensed in your state and your state laws require them to be, you are only required to pay the principal back. If we can be of any further help, let us know. Good luck.

lrhall41

Submitted by dbaker6 on Mon, 01/01/2007 - 21:44

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They will help . . . . . I live in Oregon and went that route.

They will help . . . . . I live in Oregon and went that route. They actually called some of my PDL's for me and demanded that they don't contact me again, and told them they are now being investigated and refunds will be pursued not just for me, but for all oregonians that they loaned money too.

lrhall41

Submitted by goudah2424 on Tue, 01/02/2007 - 06:58

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Goudah, that's great news. Congratulations.

lrhall41

Submitted by dbaker6 on Tue, 01/02/2007 - 09:06

( Posts: 1600 | Credits: )

loans

they are authorized in oklahoma but none are licensed and i talked to an attorney today, all i am required to pay back is principal! As well they can be hit for 1000 fine per transaction. Now i am waiting on the AG or department of consumer credit to call me back

lrhall41

Submitted by ssgnewtonj on Tue, 01/02/2007 - 15:34

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ssg - that's fantastic news! Definitely keep us posted!

lrhall41

Submitted by SUEBEEHONEY70 on Tue, 01/02/2007 - 15:47

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Just to make things clearer . . . They are still being investiga

Just to make things clearer . . . They are still being investigated in Oregon. No one has got a refund yet, and the PDL I'm dealing with still won't mark me PIF! They have stopped contacting me though. But it's nice that someone with some authority from the state will actually call them on your behalf.

lrhall41

Submitted by goudah2424 on Tue, 01/02/2007 - 15:50

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