logo

Debtconsolidationcare.com - the USA consumer forum

Forums
  • Latest topic

WebPayDay Help

Date: Tue, 02/19/2008 - 13:23

Submitted by anonymous
on Tue, 02/19/2008 - 13:23

Posts: 202330 Credits: [Donate]

Total Replies: 12


II live in VA and had a loan with WPD that I stopped payment on (I switched my bank account) in November. My initial loan was for $400 with what I believe was $100 in interest. I had paid (up until the day before I closed my account) $762.50 in both interest (rolled over from month to month) and principle (the 50 bucks or so they tack on after 5 renewals). I read somewhere else on this site about VA state law and how it is illegal to roll over payments. I've received calls from them in the past and usually threaten legal action and they back off for a while. I got a call from them today telling me that I owe 200 something made up on my loan and they will *eye roll* so generously reduce it to $192. What ammunition can I use/action can I take to get them to consider me paid in full and stop harassing me at work. I asked that they mark it P.i.F. and they said no that all the money I had paid thus far was toward interest only, with the exception of the 150 or so that they bundled with my interest payments. Any Help? Thanks so much in advance.


Hates, Here are the Payday loan laws for Virginia here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

If I remember correctly Web Pay Day has to be licensed in your state to lend in your state. I posted the regulators information as well. I would suggest you contact the regulator. I do know from checking the licenses that Web Payday is not licensed in VA. Since they are not licensed, you only need to pay back what you borrowed. Since you paid $762.50 and only borrowed $400, you have overpaid them. You need to write to them and inform them of all of this. Also file complaints with the BBB and VA Department of Finanacial Institutions. Filing sometimes help get the account marked paid in full. Check out this thread for a sample letter.

http://www.debtconsolidationcare.com/paydayloan/ipdl-address.html#319272

If you have any questions, please post.


lrhall41

Submitted by RoxyNY on Tue, 02/19/2008 - 16:44

( Posts: 4178 | Credits: )


HatesWPD, I'll tell you from my experience, you can deal with these jokers. Stop speaking to them. Only email them so you have documentation of everything. This saved my butt. Right now, and I mean now, file a complaint against them with the BBB, the FTC, and your state AG. They actually responded to my complaint to the BBB. They refunded my overpayment amount and was marked paid in full. Please file those complaints. Web Pay Day was the first one of my pdls to respond and it worked out just fine.


lrhall41

Submitted by cannr on Fri, 02/22/2008 - 19:14

( Posts: 9317 | Credits: )


How do you check to see if they are licensed in your state?? I am in Kansas!! And this week should be the last week that they are allowed to take anything cause i should be paid in full!!


lrhall41

Submitted by on Sun, 12/07/2008 - 17:38

( Posts: | Credits: )