Payday loan help

Sharlene, I am sorry, it is the only letter that i have. Perhaps someone will pop in that can be of help. You are doing a great job!

Need some advise.
Just got off the phone with 1st Bank of Deleware (associated with a # of pdl's); I have an installment loan with them so I'm trying to work out payment arrangements, which is going fine. However, I'm told my only payment option is ACH, money gram, credit card. I have 6 more months of bi-weekly payments due, and would like to avoid the additional cost and hassel of making special payment arrangements each and every time. Am I being paranoid not being willing to give them my new bank information? Has anyone, used a debit card from their pay pal account as a safe option? I've still have a handful of licensed pdl's that I need to make arrangements with and am anticipating a similar situation. When dealing with those companies that are considered legal in PA, can I stand my ground on insisting on payments by mail?

Sharlene, I've read others using PayPal. Just make sure there's only the EXACT amount in there for them so they can't take any more than agreed upon. Also, you can use a pre-paid card. Just deposit the EXACT amount on it, give them the "credit card" number for the payment. They can't get any more off of it than what you've put on it. They can't force you to do ACH debits. Do not give them your bank account information. You have every right to be paranoid. Yes, you can try desperately to hold your ground regarding sending in money orders (which is easier and less costly). I know some people have had luck with this. However, if you have no luck with this, try the pre-paid card. Give it as your "credit card" number, and they can only deduct the amount you have on it. Do you think that would work for you?

Thanks for the advise. I think it will work with the pdl's - but I may do the pay pal approach with 1st band of Deleware. When I spoke to them today, he intimated that there would only be so long that they would take the credit card payments verbally over the phone. I guess rather than use the prepaid 1 X use cards.

Well, since the First Bank of Delaware is a legal one, you can probably get by with the Pay Pal approach. As for the others, I would do the pre-paid card if you can't get them to give you a mailing address for money orders. I guess I'm just hard headed! I refused anything unless they would give me a physical address to mail payments to! :lol:

Need some advice. I'm trying to work out a settlement/payment plan with Payday One, and they have come back with 6 payments that total up to 841.00 for a $650.00 loan. Where do I go from here? They want the first payment in hand by tomorrow!

Is PayDayOne legal for you? if so, you'll end up paying the 841.00, unfortunately. So, they want payments of approximately 140.00? And they want it tomorrow? What? Is money going to appear overnight while you are asleep? Can you get them down any lower as far as the payments? Or can you get them to change the payment dates (not tomorrow!). I mean, I know I certainly don't have 140.00 to give someone tomorrow!

Cannr, Unfortunatly, since I'm in PA they're 1 of 7 'legal'loans I need to work out some type of payment plan. I'm not getting anywhere with them. I sent an email yesterday asking to extend the plan to 7 payments instead of 6, which made the amount more manageable. Lets face it, these aren't the only guys I'm dealing with, and I need to spread around the money to keep everyone happy. Per their last message "Late payments, missed payments, or other defaults on your account may be reflected in your credit report. A payment plan can only be extended for 6 payments, we can't change the payment plan below." Any suggestions, or is this the best I can hope for???

I've received 3 emails today from Credit Protection Depot trying to collect on 2 different loans. I don't have this company on my list of PDL's - is anyone aware of any other names they operate under?

Sharlene, they collect for my cash now and the pdls associated with them. TYpe the company name in the search box at the top right side of the page and you can see what others have posted about them. I would request validation of the debt from them. If you want my letter let me know and I will pm it to you. I have used it with the CA's I have been dealing with.

PayDayOne isn't budging on the payments? That's an awful lot of money. Actually, I would keep trying. That's just me though. I don't want to give up too easily. They might "break down" and extend it to more than 6 payments. Do you think you can keep trying? Hell, it wouldn't hurt to keep pushing for it. What's the worst that can happen? They say 6. Okay, at least you gave it a shot!

As far as Credit Protection Depot, I think they are PayDayMax? Or someone. Hang on because I just saw something about them or looked something up about them just yesterday. Let me look again.

Payday Max or Credit Protection Depot
Phone: (866) 645-1661
Address: no address
North Brunswick, NJ 08902

Credit Protection Depot
4601 W. Sahara Ave
Las Vegas, NV 89102
Principal : Aaron Shoaf, President
Phone Number: (702) 000-4601

I'll give Payday 1 another shot, and see what happens. If I just go ahead and send a smaller amount, what do you think they'll do?

As far as the Credit Protection Depot - this is strange. I do have a loan with mycash now (not legal in PA) but not with any of the others listed.

Okay, sharlene. Roxy says that Credit Depot collects for my cash now. ILLEGAL. So, let them fly. Lord have mercy on their souls. As for PayDayOne, give it a shot. Try for a longer payment plan. If they won't say "okay", ask them what happens if you run short one payment - can you make it up on the next - or how does their procedure work. Let them tell you what steps they take.

Yesterday I received several messages (work & cell) saying "This is officer Schmidt, its imperative you return my call about a legal matter today." Does anyone know which one of these yo-yos tries to pull this scare tactic? As far as I'm concerned, this has crossed the line and is now harassment. I'd like to report them - but not inclined to proactively invite someone to berate and abuse me.

Yesterday - clearly not the best day. Over the week-end I received a letter from CashnetUsa, (legal in PA), offering a reasonable payment schedule that I could live with. Then I have a urgent voice mail message that I need to call them before 11pm. Dutifully responding, I'm get someone from their overseas collection department, and this woman has no idea that a settlement offer was made. Wanted me to read it to her (which I didn't do), and then suddenly was able to 'download' the letter. Surprise, surprise, the bi-weekly payment had now increased by almost $50. Wouldn't you know there's an urgent email this morning that I have to contact them ASAP. Can I even trust these guys to honor their settlement offer? I'm envisioning going through this process, paying more money than they really deserve, and still not getting them to send a pif letter.

Sorry for the ranting and raving - but trying to manage all of this while still keeping everything under wraps @ home and work is starting to get to me.

Sharlene, this is one place you can feel free to rant and rave. That is what we are here for and we all can feel for you. I would do everything I can to make them adhere to the first payment offer. Did you file with your state regulating agency, and are they helping...if so, I would make them aware of this situation. I would also file a complaint with the BBB on this particular situation. As for the Officer Schmidt, that is probably Credit Protection Depot. I would most certainly report them ...I would also send them a letter requesting they validate the debt.

I know things are rough. I kept this from my family as well....still am 7 months later. You know we are here if you need us. Hang in there.

Thanks Roxy. One thing I haven't done is file complaints with the varrious agencies. How do I go about doing that?

If you don't mind my asking, how did you manage to keep this from your family. My husband works nights, so I'm always worrying that he's going to pick up the mail and there's going to be some letter with a name plastered across the envelope! I've been thinking about getting a po box and having my mail forwarded for a while.

You can file complaints with the Better Business Bureau (www.bbb.org), the Federal Trade Commission (www.ftc.gov) and your state attorney general. I just googled "my state" attorney general and the site came up. You can file on line with the BBB and the FTC. It depends on your state if you can file on line with the AG. Some can and some have to download the complaint forms, fill them out, and mail them in.

Sharlene, I have my own cell phone, and kept the ringer on vibrate or silent and I did get my own po box and when I sent letters, I used that as my address. Other than that, nothing came through the mail. Work was a little more difficult becuase we work in the same place...but I have voice mail and told the operator to put any calls through to me. We do not share a bank account, never have, we both had lives before and becuase he was divorced and paying ungodly child support and we were living in his house before we got married so we just never set up a joint account. I hate lying by omission however, he is so uptight about $$ that ..and I hate to say this....it is better for both of us to keep him in the dark.

Roxy - really appreciate your candor. Sounds very much like my situation, including the cell, bank account, and living in his house! Only difference is the divorce is on my end not his. I'm going to open the po box tommorow and hopefully that will help ease some of the stress. Thanks again

Sharlene, Any time. I did not want to make him out to be a bad guy...he really is easy going most of the time. but he does have issues...as I know we all do..and his are about $$. If you need anything else I am here for you. Like I said, I know this is a difficult seceret to keep and everyone handles their situation differently...some tell their significant other, some do not...I am one who did not..We all have reasons for doing what we do. No judegements.

Tell somebody? :shock: My 'secret life' is RIGHT HERE. No one else knows. Do they need to know? I don't think so. Even if it is your husband. I'll probably get smacked by some people for saying that; however, everyone has their reasons. If it's better left unsaid, then so be it.

You go, roxy! :wink:

Cannr....forever my biggest supporter :D

Just giving my opinion! As you stated, no one gets judged on this forum! 8)

I'm really having a hard time dealing with Payday One, who operate legally in PA using their DE license. I've been trying to work out a payment plan but I'm not get them to move off of their 1st offer. They want $250 over the original loan, and insist on 6 bi-weekly payments of $147.00. I responded by email saying I can't afford this and would need to use a 8 payment cycle to satisfy the debt. They responded saying 6 payments was the maximum they'd consider and oh by the way the meeter is still running as long as your not agreeing to our terms!

Since they insist on playing hard ball with me I think I've got to give up the email exchange and call them directly - but before that happens I need some clarification/advice. If I understand correctly how this works - companies that are licensed by another state can legally loan money in PA but have to follow DE statues - correct? Did I understand the DE law correctly - loans have to be $500 or less? If that's the case, have they violated DE law by lending me $650? Can I use this at all to my advantage?

Since I'm being told that fees are still accruing, what's my best move?

It was payday loan that can provide you a smaller amount of money but a good starting capital for a small business entity.
If you improve your financial planning, you won???t need a payday loan as often. Of course it???s difficult to make ends meet at times, especially with the way the economy is going. However, financial planning is the hot topic for this New Year as many, including myself, are struggling with the economic downturn and desperately searching for ways to improve or stabilize financial situations. The number of people in need of debt consolidation is quickly rising, mounting hand-in-hand with the unemployment rate. The other day, however, I was on the payday loan money blog at PersonalMoneyStore.com and read an article explaining some things we can and should do this year to prepare for unfortunate events such as unemployment, which more than 2.5 million people suffered from last year. Being conscious of a few money saving tips can definitely help you cover some financial difficulties. You can learn more money management tips through this article on the