What is the best PDL out there?

"I think that's a HELL of a lot of money for a $200 loan. A year and a half ago, I had two loans that I paid over $2000 on, and they were only for $200. I had a lot of difficulty getting those two companies to see it my way"

Wow, thats a lot of moneyto overpay. If you ever need a loan just let me know:)

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I agree with who ever said the best PDL is NO PDL! I learned my lesson too.

I work for a company that deals with subcontractors and have to say if the subcontractors we hire screw up, it falls back on us because we are the ones that hired them. The way I see it, if your "collectors" went too far, it still is your problem because you are the one that hired the subcontractor. I don't give a poop whether they work on commission or not, the collectors have not right to treat people like crap! If your agent is like a "teacher" then they are teaching them wrong.

You said according to your lawyer, you are operating legally, yet according to many attorney general offices, companies like yours are not legal in all states. I am in NC and pdls are prohibited and according to my AG's office, I should not have been loaned to at all.

You may think that you are doing a service to people, but in reality you are not. I feel companies like yours prey on people who get in desperate situations and just charge outragous fees and don't give a damn about the customer. All that is cared about is the all mighty dollar.

Don't mean to rant, but this is how I feel.

I guess its my turn. I consider all pdl's worthless and extremely harsh on the debtor. The fact that you acknowledge that collector's are not following fdcpa is speaking very badly for your firm. I leaving this stinkin thread now!

2nband, I agree wholeheartedly with you about PDLS.

On PDLme's website there is a very big disclaimer that impressed me. It actually said what states pdls are not allowed in. It also says that Pdls are not for everyone.

You are absolutely right..PDLS are not a service to anyone. I personally don't see how they can be used responsibly, the interest is always disgustingly high, and collectors for most of these companies are downright evil.

I am enjoying this discussion with PDLme very much, though..He or she is being very candid. I have been here over a year and have seen many PDL reps on this board, always nasty and aggressive. It's really fascinating to have a civil discussion for once.

I am hoping that anyone who may consider a loan with any PDL company will find this thread and read it thouroughly..Because it definitely spells things out.

I do appreciate PDLme answering to the posts. It is interesting to hear what he/she has to say, but I just don't agree with that business. Grant it, I had to learn the hard way and of course, still dealing with a couple and even had to respond back to the BBB against Midland Marketing, but I am not going to lwt them get to me, not any more!

Exactly, dealing with it the hard way is what keeps us from going back for more!

We are all educated and can't be fooled. It's great to hear what they're thinking, though!

And believe me, I have been discouraging any one and everyone from using them and have been preaching at my son too. He will be adventuring out on his own soon and am trying to make him aware of all these types of thing!

"What is the best PDL out there?"

Based upon your answers, it would not be yours.

Finsfan - Did you notice that nowhere in the list of states they can't lend in was NC?
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Good call Goudah..I didn't notice that. Plus, I didn't know that PDLS are legal in Colorado and Kansas..The only thing I was sure of was that they are not legal in Georgia.

They are also illegal in NY and a few other Northeastern states I can't remember off the top of my head.

Yeah, that's why it's strange that they have it all wrong on their site . . . This guys site looks like it was put together by a sixth grader . . . . .

How are these individuals allowed to get on this board? It is called debt consolidation care not give me a payday loan care. Gosh.

You answer as to which payday loan is the best payday loan: THERE IS NO GOOD PAYDAY LOAN. Payday Loans were created to get individuals, usually low income people, to borrow money on money for a higher rate. Then you end up robbing Peter to pay Paul, Mary and Sue.

i work at a payday loan company and i can tell you that no matter how many times you reiterate the fact that "these loans are not meant to meet long trem financial needs," 95% of customers come in and rewrite on their due date instead of paying it off entirely. usually it's bc most people cant afford to be without that 200 dollars (or whatever amount) until they get paid again. so it becomes thsi vicious cycle, as though it were just a part of normal monthly expenses. what most people dont know is that they end up paying something like 267.67 % interest over a period of 12 months. my suggestion is to try this: lets say, for example, you borrow 200. in tn, the finance charges for 200 come to 30. so thats 230 that you have to pay on your next payday. if you cant afford to pay the entire amount, then you can slowly start writing it down. come in on your due date with the 230..instead of rewriting for 200, rewrite for 175. the total (in tn) will come to 205 after the finance charge. the next due date, rewrite for 150, and so on. eventually,it will get down to 25 and you can pay it off and forget about it. i realize that noone asked for my opinion, but i thought it might help someone.

That makes sense for the storefronts..I was in a vicious cycle of that with checksmart until i finally broke down and asked to borrow the money from my mom amd she was gracious enough to give it to me so that i could out of the cycle

I like that one not allowed in WV. LOL If you get any bright ideas about bringing loans into this state change your mind really fast. Attorney General will be after you just like all the other companies that are paying back money to the consumers. PAYDAY LOANS ARE CRAP!!!! KYSIDE38

No what was sad was that I was going to a payday loan company, storefront, and one day when I came back to reborrow, an ex boyfriend was in there and he was the manager! I guarantee that he was looking at my credit report. I decided to pay the loan out and have my account go to another payday loan just to avoid him. Would you believe that the people that worked thought that he was crazy? And I dated the man. Wow.

I was so afraid of what he might have done that I kept checking my account and my credit report. Creepy.

I have a question PDLme, why would a pdl company knowingly lend more than the allowed amount of money for a particular state, at an illegal interest rate, but quote over and over in the contract it is not meant to be long term????? Instead if you truly are out there to help people with bad credit why don't you just simply offer the same no credit check but in a legal format for each persons state??

Sorry for the delay but I have been very busy lately. Our business is booming and I am currently in the process of adding more staff.

Most of the questions directed towards me have been aimed at the loaning to states where some people here think it is illegal.

I will let you know that my team of lawyers goes through the laws with a fine tooth comb. They are some of the best in the business and we make sure that we abide by the rules as they interpret them. So far I have not run into any problems.

"I have a question PDLme, why would a pdl company knowingly lend more than the allowed amount of money for a particular state, at an illegal interest rate, but quote over and over in the contract it is not meant to be long term????? Instead if you truly are out there to help people with bad credit why don't you just simply offer the same no credit check but in a legal format for each persons state??"

Obviously I am not running a not-for-profit organization. I am in the business to make money. As I previously stated I am running a completely legit operation. I am not out there to save people with bad credit. I am providing a service that helps people who can't afford to wait for their paycheck, maybe get groceries for their family or get a new alternator for their car.

We state that these aren't meant to be long term loans. If the borrower chooses to make them long term that is their decision.