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Uugghh Payday Loans

Date: Mon, 02/05/2007 - 16:54

Submitted by peachdelite2001
on Mon, 02/05/2007 - 16:54

Posts: 10 Credits: [Donate]

Total Replies: 8


I have fallen victim to the payday loan trap. I currently have 3 active and 2 in default. I need help to get out of this rut. In addition to that, I have about 3 other accounts in collections. I'm working on sending letters to them all to find out about settlements. What do I do about the PDLs?

Tamika


Pdls in your state are prohibited!!

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

You can look up your state payday lending laws at paydayloaninfo.org. What internet companies are you dealing with? Most more than likely they are not licensed to lend. What amounts have you borrowed, and how much have you paid back so far?


lrhall41

Submitted by brownsugar on Mon, 02/05/2007 - 19:57

( Posts: 1389 | Credits: )


Now that you know that the IPDL companies are doing business in your state prohibiting pdl loans, you should notify it to your AG and the Dept of Corp. The pdl places have violated the laws in your state. How much you have already paid on the loan principal? Your state doesn't mention legal interests and fees to be charged on the loan.

You are just liable to pay back the principal amount and get the account marked closed by the IPDL company.

You don????????t need to make a settlement deal if you have already paid the loan principal.


lrhall41

Submitted by fatb88 on Tue, 02/06/2007 - 13:45

( Posts: 218 | Credits: )


2nd band, The Attorney General in your state is as hard as mine. NC was one of the first states to prohibit them. They will bust them good for you. Send those letters in they want to hear from you. Trust me on this one. KYSIDE38


lrhall41

Submitted by KYSIDE38 on Tue, 02/06/2007 - 20:04

( Posts: 2477 | Credits: )


Thank you all for your replies. 3 of the companies are Nationwide, BIG-int.com, US Fast Cash and the rest I have to locate their names. I believe I have already paid the principal back but will double check. I will connect with the AGs office.

Do the laws that govern the store fronts also cover the internet based PDL companies?


lrhall41

Submitted by peachdelite2001 on Wed, 02/07/2007 - 05:36

( Posts: 10 | Credits: )