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PDLs in Ohio

Date: Thu, 03/08/2007 - 20:16

Submitted by tasheffey
on Thu, 03/08/2007 - 20:16

Posts: 10 Credits: [Donate]

Total Replies: 4


Ladies and gentlemen, I have multiple PDL's outstanding and am trying to figure out how to approach these companies regarding payment arrangements and the amount owed. I have spoken with several and the amount they state is several hundred dollars over the principal amount. Following are the lenders, principal amounts, amount paid, interest:


Lender Principal Paid Interest

Nationwidecash $400 $98 $80
(have made pmt arrangements they claim I owe
$682)

Impactcashusa $300 $270 $90
(have made payment arrangements;claim I owe $696)

Unitedcashloans $300 $360 $90
(have made payment arrangements;clain I owe $308)

ameriloan $300 $330 $90
(have made pmt arrangements;claim I owe $308)

Payday Cashlink $300 $90 $90

PayDayOk $500 $50

TJF Corp/BMG $300 $270 $90

JD Marketing $300 $270 $90

NetCash USA LLC $300 $295 $90

DollarQuick $300 $320 $90

CashDirect (GECC)$300 $230 $90

Payday Yes $500 $1060 $75
(interest is calculated using the add-on
method) (really weird lender)

Since I have made payment arrangements with several of the lenders already, can I renegotiate if what I paid and what they claim I owe is way out of scope?

Any advice would be greatly appreciated.

Thanks.


Go to your state website for the legal charges in pdls and compare the contract of the lenders. The charges should be in accordance with the laws stated there. Once you know the latest status of each account, call the companies with whom you have the outstanding balance and put your payment proposals. Get the accounts marked "PIF" once you have paid the loan amount.


lrhall41

Submitted by fatb88 on Fri, 03/09/2007 - 16:16

( Posts: 218 | Credits: )


None of the above companies are licensed in OH. You need to go to the Attorney General's website and file a complaint online against each one, the AG's office will also forward these complaints to the Dept. of Finance. If you have already overpaid the principal and legal interest rate that OH allows (by the way is $15 per $100, and roll overs are ILLEGAL), then DEMAND they mark you paid in full. You will get threatening phone calls, saying you are having fraud charges pressed against you or that you are going to be arrested. They are lying and they are comitting fraud by making those threats which are illegal. I hope you have closed and opened a new account.


lrhall41

Submitted by WHEREAMI? on Fri, 03/09/2007 - 16:27

( Posts: 5263 | Credits: )


Yes, I did the research on the license issue. And these companies are not following the rules of Ohio at all. And yes I have opened a new account in another bank. Having trouble with old bank doing something, like a hard freeze, on my old account, which is grossly overdrawn from all the PDL's. So they will have to do something or they will never get all their money. Still working on that issue.

Not afraid of the collectors, so they can call all they want.

Have moved all the ligit ACH withdrawls to the new account.

There is a light at the end of the tunnel!

By the way, Consumer credit counseling of America will help settle the store front PDL's if anyone is having difficulity. There is a fee, but it is another option.

Thanks for all the input !! You all have definitely made this ordeal less stressful !!

Stay frosty and let's put these so called 'legal' loan sharks out of business !!

Cheers !


lrhall41

Submitted by tasheffey on Tue, 03/13/2007 - 13:22

( Posts: 10 | Credits: )