PD6 Ventures (Loanshop)

Welcome to the forum! Unfortunately, payday loans do not get paid down. Each payment that is debited from your account is just a refinance charge to rollover the loan another 2 weeks. The only way they usually consider a loan paid off is to take the principal + the finance charge all in one debit, and you usually have to call them to tell them to do that.

Depending on your state's payday loan laws, you've most likely been charged an illegal interest rate/finance charge. If you tell us what state you're in, someone can help you look up the payday loan laws for your state to see what the allowable interest for payday loans would be , or if they are even legal in your state. Once you have this info., you can contact your state's Attorney General to file a complaint, and you can also contact the company to let them know you've filed a complaint and want the account marked as "paid in full." I would also contact your bank and block any future debits from this company so they cannot continue to take your money.

I live in the State of Arizona. Any help would be appreciated. Thanks.

Surely, you have paid more than what your state allows. The loan company did everything illegal by adding astronomical charges on your loan. Be aware of your legal rights and the state laws. You will need to use it in your defense and get your account marked closed, claim for a refund. Draft letters to your attorney general explaining this issue. They will run a check on the company and help in getting your money back.

Go to your bank and follow the same procedure. Talk to the bank manager and show the debits done by this loan company. Ask them to dispute all debits done by the pdl company in the past and get it verified. These documents will come handy when pursuing legal actions against PD 6 Ventures. I know this company has done few refunds in the past.

Here the payday loan laws for the state of Arizona.

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Thanks for the information. I will be filing a complaint.

Defiantly make sure you prevent this company from making any further debits from your account. Talk to your bank about blocking the debits from this company, make sure they cover all the basis because if you just block the amount the company can try and change the amount or use an affiliate name. You can also prepare a letter to to send to the PDL revoking authorization to make any further debits...Good luck and keep us posted.

I will keep you posted. Once again, thanks for all the help you guys have provided me.

I recently took out a payday loan online for $300. (I am from Michigan)They tried to take the payment out of checking rather than savings and therefore sent my loan to a collection company and now want $670.00 to pay off a $300 loan 2 weeks later. I called this collection company and they were very nasty and threating. How can they do this. I don't even know where this TJF Corp and or Bahamas Mark is from is from. I did not even sign any paperwork to get it just talked to someone on the phone. They said they would verify my account and if they would have done this they would have verified it was a savings account. Can anyone offer any help. I have not paid them anything yet. Suzie

Suzie - Q please pm me and I will try to help.