Am I Doing Too Much to Get them off my back...
If you have not already closed your checking account please do so prior to sending anythinh to these companies. They will go in like vultures and take everything. They will not listen to you asking them to stop debiting. They will take forever unless the account is closed
thanks for the info on closing the account.
Oh and one more question... if they contact an attorney or firm to contact me regarding the debt, will I be able to use this same letter with that firm?
I am with Kash on this one; I would definitely close my accounts before sending these out.
Your letters sound great and cover everything under the sun; at which you do need to do....but it won't make them stop debiting from your account.
Good Luck and hopefully you will get what you need to rid these pdl's....
eulogy, even though the loans are illegal in your state; have you paid back anything on these loans? I just know that on this forum they do advocate to at least pay back the principle on your loans.
I've seen some posts where they've said don't pay back anything...
However I have paid several "service fees" (I haven't done an actual estimate of what I've paid on the loan and what the principle is) on most of these accounts since January which were $90, $75 and $65. CTC takes the full amount out and doesn't let you renew the loan, but I don't have it and I can't afford to be $600 in debt, I'm a single mom of 5 with a deadbeat exhusband and found myself caught in a debt web.
I'm willing to pay it back eventually but I can't afford to pay them all back at once. My biggest fear is now I am actively trying to get myself out of debt... that this will ruin my credit even more than it already is :(
Oh... I've noticed that some people have said if they are licensed in another state then it still applies to the state of residence and others have written that it doesn't matter, they have to be licensed in the staate of residence.. I'm confused on this matter, which is it? does it matter what the state laws are? and it makes a big difference to know who to deal with first with settling out.
I have a payday with CTC and they are very hard to work out a deal with. I owed them 635 for a $500 loan and couldn't afford to pay it all back at once. I called and spoke with Don and of course he tried a scared tactic. I told him that I work in an office full of lawyers and if he called to harrass anyone there he could expect to be sued. I also told him that I could work out a payment arrangement with him and he didn't want to to that. I sent him a partial payment last Friday and he called me and said that he could hold my file until my next payday. I knew he would if he wanted his money. They are VERY VERY nasty at CTC.
I am no expert here; but if you already know your laws and it is totally prohibited then you have no worries. There are some states that do say these companies have to be licensed in the state that they loan; and some states allow the pdl's just to be licensed anywhere. Hope that makes sense.
Sorry to hear you have a deadbeat X - and 5 children to fend for; my heart goes out to you.
I would take it one at a time and let them know what you can pay at your own time and pace. As long as you feel you want to pay back the principle.
take care and good luck
Purplegirl is right - It's really on a state by state basis who's laws they must follow. But for your state, you are correct - They must follow your laws.
Thanks for all the advice everyone, I'll keep you updated
If the PDL has an attorney or firm to contact me regarding the debt, will I be able to use this same letter with that firm or do I need something else because it's a third party?
These attorney's should know better than to prey on people about payday loans... this is ridiculous.
Insensitive Joke of the Day:
Why don't lawyers ever get bitten by snakes?
Like your joke...
Not sure about your question above if the pdl's get an attorney in regards to your matter. As I read out here; I haven't seem much where they have; but their normal steps are just to send you to collections; which normally are internal collections. But, I would keep all correspondences to and from your pdl's showing that you are trying to come to a settlement on your terms. And since they are illegal to lend to you I don't think they would want to get an attorney for your case.
Good luck and keep us posted.