Renewel fees - Does all PDL companies charge it?
Date: Fri, 07/06/2007 - 19:17
Say if I am taking $100 as PDL, how does the whole cycle work.
- (if paid) - 14 days - $100 + $15
- (else) - 14 days - Pay $15 + (is there a renewal charge?) + ($100 still remains due for next 14 days)
- (if paid) - 28 days - $100 + 15
End of the cycle (after 28 days) did I pay $130 or more? Are there other costs like account creation etc. Can some explain me more about PDL processes.
Your Racker.
You won't find much interest in this topic because that type of
You won't find much interest in this topic because that type of loan has lead to personal & financial ruin of many here.
I can tell you for a fact that all PDL companies charge renewal,
I can tell you for a fact that all PDL companies charge renewal, or rollover fees, because that is how they make their profits. And in most cases, the interest rates are way over those allowed by state law.
Cajun is absolutely correct. There is nothing good about PDLS. T
Cajun is absolutely correct. There is nothing good about PDLS. They are dirty and usually don't follow lending laws..and are very rarely licensed anywhere. Plus, they end up being a huge financial burden to anyone who takes one.
Here's what I saw when I had PDLS> A lot of companies would charge no fees if you pay the loan off after 2 weeks. So..A $300 loan would only cost you $300 if you pay it back right away. But, if you can't pay it off, then it's $60 every two weeks, and they are not even applying any of this to the loan. Then, with many companies, after 4 2-week periods, they will start taking $50 and applying it to the loan. This is in addition to the $60 fee. Isn't this fun? This is how so many people end up in hell due to PDLS
And I think in some states, even if you payback before the due d
And I think in some states, even if you payback before the due date, you STILL have to pay back that fee! Absolutely no fun, no fun at all....
Not at all! A 300 loan can end up costing you over a grand from
Not at all! A 300 loan can end up costing you over a grand from some places because they disappear and you cannot get a hold of them to pay off the loan in full. IN my experience, they all charged a finance fee of 60 bucks or more even if you paid it in full after two weeks-thats how they generate revenue! Stay away from PDL's!
