PDL NEED HELP

First of all we need to know what state you are in, the name of the company, is this an interent pdl or storefront pdl? How much did you initially borrow in principal and how much have you paid back? Answer those questions and someone that has tons more experience than I will help you. Welcome to the site by the way.

Welcome! I posted this on your other post so I am copying it over to here so you can get some additional info.



I can tell you right now PDLs are prohibited in NYS. That is where I reside and being a resident of this great State does have an advantage when dealing with PDLs. Jen has requested some info that will help us help you so please try and post it ASAP. First and foremost, you need to run to your bank and close your account. It is the ONLY way to keep your money safe. Which three of your PDLs carry the same number? I can tell you right up front ameriloan is part of MNE and I have dealt with them but I did get rid of them pretty quickly. Go ahead and post that info. Hang tight and help is on the way.

Thank you everyone! Here is the information that you requested.

All loans were for $300

NLS Paid back $429
NHCash paid $412.50
ameriloan paid $450
Midland Financial $360
CMS Group $360
SSM Group $480
MW Marketing $360

These were all done on line in NYS

Midland, SSM Group and CMG Group all have the same phone numbers. I put stop payments on these. My bank issued the stops by the companies names not amounts or form and has someone watching the account. I check it daily as well.

Thanks again!!!

The above post is from Kalja24 :shock:

Well, it looks to me that if all your loans were for $300, you have more than paid your dues. However, I do worry about your bank account. These guys are notorious for putting through debits under different dba's. If that doesn't work they will produce a paper check. Is there any way you can just close the account and start over? Also, have you sent out a C and D letter to these guys? It will cover any and all aspects of the loan particulars that you had signed with these slugs. You owe absolutely nothing to any of these PDLs. You have overpaid on all of them but to get them to stop you need to send that C and D letter, which you can find in the do it yourself section at the top of this page. If you don't they will continue to debit your account forever. And again, the only way to really stop the debits is to close the account they have access to. Give it some thought. Good luck and keep us posted on your progress.

kalja, llw is sooo right. Just putting a stop payment on these pdls will not work. They will change the name, the dollar amount, the date, etc. As llw stated, they will put a check through if they can't do an ACH. They will try anything and everything to get money from you. Is there anything preventing you from closing this account? Or at least putting it on a hard debit block?

from Kalja24 - first off, I'm doing something wrong when I attempt to post a message.LOL When I put in a username it tells me its already taken???

I'm going to call the bank today and work on closing the account out. After hearing how these jerks work, its not worth the risk. I was also wondering, when I send out the C&D letters should I tell them that I have overpaid them and request a license from them, which as I understand, they will not have?? Thanks again.

from Kalja24 - first off, I'm doing something wrong when I attempt to post a message.LOL When I put in a username it tells me its already taken???

I'm going to call the bank today and work on closing the account out. After hearing how these jerks work, its not worth the risk. I was also wondering, when I send out the C&D letters should I tell them that I have overpaid them and request a license from them, which as I understand, they will not have?? Thanks again.

You can use a template letter from this site which will cover pretty much every aspect of your loan contract or you can draft your own. Don't bother asking for a license. They are illegal here and you won't need it wouldn't need it anyway. You could mention your overpayment, but I am not sure that it will make a difference but it never hurts to try and recover your overpayment. But please, please get to the bank ASAP and DON'T, repeat DON'T send the C and D letter until the bank account is secure. If they get wind of it's closing, they will empty it out. Good luck. Keep us posted.

Last week, thanks to great advice on this board, I made arrangements with PayDayOne.
Yesterday, the "compliance department" at ameriloan was kind enough to settle with me on my debt.
I feel like finally I am on the right path!!!

Congrats on your accomplishments! Isn't it a great feeling to know that you are on the way to being PDL free? Before you know it you will be done with all of them. Keep up the good work and keep us posted on your progress.

Thats great to hear!! I am curious about the ameriloan as I also have one with them. Did you end up paying them more than your original loan? My loan was for $300 and I have paid them $450.

I had an ameriloan debt and after I filed with the BBB they settled for the original amount of the loan. Fortunately for me, when I came here, I had not overpaid any of my loans. You could certainly ask for the refund, but chances are you won't see it, but then again, miracles do happen! Once that C and D letter is received, and your bank account is closed, I think they'll get the hint that they are not getting anything additional. Go ahead and ask for the refund.

Should I be concerned that payments were returned to NLS because I put a stop payment on it, and I have not been contacted by them? a couple of weeks ago my account got overdrawn from these fools and when there payment was returned for NSF they called me right away....

I know it's scary, becuase I just recently went through it myself, don't give up and don't give in to them. And most importantly, do NOT let them intimidate you!!

llw stated they are all illegal in your state. When you send out that letter, do what I did. Tell them that you KNOW they are illegal, copy the state laws to show them you know what your talking about and that you mean business.. Post on each email that you have over paid your original debt and post the amount you've overpaid. Tell them that you want a refund of the amounts overpaid (that doesn't mean you'll get it, or that they'll even consider, but it's worth a shot). Tell them that you will be filing a complaint with the attorney general, and when you do send the letter off to the AG, copy the pdl company, their processor, and anyone else you can find who is involved with them. I called it a "Carpet bomb". I think they are most moved to act when we show that we are not afraid, and we know what our rights are and what the laws are. :) If I'm wrong correct me :D
Jen

edit>> I almost forgot, I would seriously look into closing your account and opening a new one. If they think they have a clear shot, they'll take it. You can do it. I did it in 38 days :D Just got my last PIF two days ago.
:D
Jen

Thank you for all of the information and support. I plan to put it all in action. I am amazed at how widespread this is but am also so impressed to see everyone come together to help one another. Thanks again!

At this point I'm not worried about getting any of the money back that I have over paid to any of the companies (now stands at about $900). I just want to make sure that I have a leg to stand on by telling them I've paid you in full now take a hike. This may be an obvious questions but what is the difference between an online and a store front? From what I can gather all of the ones I have are actually illegal.... llw1995 - you said that all pdls were illegal in NYS right? Thanks again everyone.

to answer the above, i had probably overpaid a bit on ameriloan. However, closing my bank account wasn't an option for me due to other circumstances - so I had to try the best I could to find a way to work it out. I did send them a c&d letter, and within a day of receipt they had referred my account to the compliance dept. The lady was awesome and what ended up happening is that my payoff was $450 (including fees) and she settled for $200. Also, with PayDay One, they set me up where I am making 5 payments on the principal balance.
I still haven't done anything with CheckNGo, its a storefront. I'm going to just try to pay it off. However, having the other two "monkeys on my back" resolved is helping me to sleep at night (which was a serious problem) and hopefully soon enough my ulcer will be better as well.

Oh yes, they are definitely illegal in NYS and I do think that gave me some extra leverage in clearing my PDLs. Just keep sending that same C and D letter with the State Laws attached. You have to be consistent and persistent with them. Don't let up until you get what you want.

Thank you both for your input, llw1995 I really appreciate all of your guidance during this. raveyn06 I wish you well and many more restful nights!!

I sent out a C&D letter to ameriloan on Friday and received a call from them this morning. (even though I specifically told them to only contact me via e-mail) Anyway, they claim I owe them $460 on my $300 loan. I have already paid them over the $300. I explained to her that I had already paid more than my $300 and asked that they send me a breakdown of how they arrived at the $460 along with their state license number. She said she could not provide me with the number so I told her I would take a paid in full letter instead since pdls were illegal in my state and that the interest that they are attempting to collect is also illegal given that NYS max is 25% which I have already paid on top of the $300 I owed. She said she would send me the contract that I signed. I again told her not to contact me via phone again. I am going to send them another C&D letter today. I am trying to wrap my head around all of this and make sure I'm doing the right thing.

she will send you a copy of the contract.i heard that one too
with my ameriloan.that contract since it is illegal is good for
the following.

a)wrapping fish
b)potty training a puppy
c)lining a bird cage
d)emergency coasters

as a legally enforceable document,not so much.i also never
received my contract when they said they would send it so
don't wait for it.

LOL! I won't hold my breath then :-). Thanks!!

Kalja. . .good for you. You are doing a great job! Actually ameriloan was pretty easy to get settled. Just keep sending that C and D letter, and since you repaid what you borrowed, don't back down. paul is right. They will promise you anything and produce little much. The contract means squat, especially to us here in New York. It's prohibited, plain and simple. It's illegal, end of story. You fulfilled your obligation. Keep us posted.