Can I settle PIF?
Date: Wed, 02/07/2007 - 10:49
I have one IPDL i want to try to settle (to email them a letter before this Friday's renewal comes out of my account). It was for a $300 loan and I have paid thus far 360.00 on the renewals. Come this Friday I would have paid $500.00 on renewal costs. Per MASS laws, the cap is 23% on the small loan rate. Do you think I will be okay to send them a lttr to PIF now with only paying them back the 360.00 or should i wait until they take out my renewal on Friday? Your thoughts? Just trying to clean it all up and with you help i am .. thank you VERY VERY MUCH!
Since the loan was in the amount of $300.00 and you have paid ba
Since the loan was in the amount of $300.00 and you have paid back the $360.00 you don't owe them anymore money. You did your part. Send and fax the letter ASAP to them. Also, have your bank put a block on this transaction so they can't get anymore money.
Definitely do as Tammy says and have your bank block any future
Definitely do as Tammy says and have your bank block any future debits from this IPDL. Even if you send a letter requesting that your acct. be marked PIF, the IPDL will most likely still hit your acct. and withdraw funds.
