PDL Assistance

PDL Assistance seems to have a mixed report among them. According to the BBB, 9 complaints are there against them within the last 1 year. Among these 9 complaints 3 are related to Service Isuues and another 3 with Refund Practices. 2 complaints against them are Contract disputes and 1 related to Credit or Billing. BBB report shows that all these disputes are resolved now.
According to Jennifer Bailey, one of our DebtCC member, who was earlier enrolled with PDL Assistance has said THIS.

Hi Melissa,
I don't know if you've done it already or not, but I suggest posting your information on this site and seeing what you can do on your own. It's sometimes frustering dealing with the PDL companies, but financially it may be worth it in the end. There were a lot of things I didn't like about PDL Assistance, but I do realize that for some people (i.e. people who's loans aren't illegal) it maybe an option. In the end, I managed to take care of all of mine on my own not paying another dime to PDL Assistance. If you've not done so already, try posting this information:
Your state:
The name of each payday loan company you have a loan with
The amount you borrowed
the amount you have paid them (not just principle, total, fees and all)
It's quite possible you can do it on your own. Really all they do is negotiate for you, they don't tell you the laws, and in some cases, they want you to settle for more than what you actually owe. I know it's overwhelming, but try posting the info and see if someone can help you. It takes time and effort, but it pays off in the end :)
Jen

I have filed a complaint with the BBB regarding PDL Assistance. I called and told them the 6 pay day loans that I had out and they (very quickly) calculated what I would have to pay and for how long to get rid of the loans. Also (very quickly) had me send my $200. I paid the $200. I then had a couple of questions and after many calls got through and was told of the 6 loans, they could only work with 3 since one truly wasn't a "pay day loan" (Think Cash) and the other 2 I had not yet defaulted on. None of this was told to me on my initial call and prior to sending the $200. I talked that same day with Town and Country and they could work with all my loans, for a lesser amount. I decided to use T&C and cancel with PDL. To cancel I had to speak personally with someone named Colin, which I did. I told him I felt like I got very bad information from them and absolutely NOTHING was done for me and I should receive a refund. He said sorry, 3 days had passed and they would be happy to help me with my needs at another time without paying another $200. Not a satisfactory resolution for me, so I filed the complaint. I rec'd a call yesterday from David Bartlett with PDL Assistance regarding my BBB complaint. I will be calling him back today. I'll post the results.

Thank you for the update Leslie, please keep us posted - as information and experiences such as this is very helpful to others who may be considering using their service. :wink:

I just got off the phone with David Bartlett. His number is the same as PDL Assistance, however he identified himself as being with their parent company. His notes from my initial call differ from mine (of course), but after a small amount of discussion he was willing to refund one-half of the initial $200. He explained that there were costs incurred by PDL and by keeping one-half that would take care of those costs. I am satisfied with the resolution. One thing he mentioned that I think is worth noting...he indicated that ANY company that says they can help a person with pay day loans that have not been defaulted on is encouraging illegal activity. A loan that is obtained with no intention of payment is considered fraud. I am going to check with Town and Country about this because 2 of the loans that I have them working on, I had made no payment to. Hope this helps someone decide which avenue is best for them.

Needless to say, I called PDL and out of the 6 payday loans I had they had only spoken to 2. I told them I wanted to cancel. I spoke with a guy named Colin. Tried to give me the big speech. Told him save it, they did nothing for me, I am cancelling. Now I need help trying to settle my payday loans.

I live in the state of Lousiana and my payday loans are as follows:

Sagamore - Borrowed $250 Paid $375.
Patinum B Services - Borrowed $250 Paid $375
Think Cash - Borrowed $1500 Paid $1234.09
Cash Bank - Borrowed $450 Paid 0
Cash Direct Express - Borrowed $300 Paid $397.50
Cash Net Usa - Borrowed $300 Paid $115.50
_________________

Melissa,
I borrowed this information Shazzers posted on another thread:

Quote:

So, can someone explain what all that means. Is my payday lenders illegal? How do I go about starting to settle these?

Okay Melissa,
I did a little more searching and found a post Goudah made, here is that information:

Quote:
Louisiana State Information

Legal Status: Legal

Citation:
La. Stat. Ann. ???? 3578.1 et seq.

Loan Terms:
Maximum Loan Amount: $350
Loan Term: 60 days
Maximum Finance Rate and Fees: $5 documentation fee + the greater of 16.75% of check or $45 (After default: months 1-12: 36% per year; months 13 and beyond: 18% per year)
Finance Charge for 14-day $100 loan: $25
apr for 14-day $100 loan: 650%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: None (cannot renew or rollover but licensee may accept partial payment of 25% of amount advanced plus fees and enter into new loan)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: One NSF fee of actual bank charge (if disclosed) + the greater of $25 or 5% of check (if disclosed); Court Costs; Reasonable Attorney's Fees
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Louisiana Office of Financial Institutions
Address: P.O. Box 94095 Baton Rouge LA 70804
Phone: (225) 925-4660
Fax: (225) 925-4548
Regulatory Contact: John J. Braud,, Deputy Chief Examiner


Email from the DFI and Whitenan:

I emailed John Braud, Deputy Chief Examiner of LA Office of Financial Institutions and asked him, if internet payday lenders(not residing in Louisiana) who lend money to residents of Louisiana, have to be license in Louisiana or do they just have to have a license in any state.

Response:

You probably had difficulty finding information on this issue because activity commonly referred to as "payday lending" is subject to the Louisiana Deferred Presentment and Small Loan Act, LSA R.S. 9:3578.1 et seq. These loans are consumer loans subject to the Louisiana Consumer Credit Law, LSA-R.S 9:3510 et seq.

C. Except, as otherwise provided herein, that following agreements by a consumer are invalid with respect to consumer credit transaction, or modifications thereof, to which this chapter applies;
1. by which the consumer consents to the jurisdiciton of another state.
2. the fix venue

Therefore, the above provisions require that all consumer loans made to Louisiana residents should comply with Louisina laws, but lending licenses are issued to persons with business locations in LA.

John Braud
Cheif Examinor
Office of Financial Institution

Other emails from me to DFI:

Hello,

Do internet based payday loan companies need to be licensed by Louisiana to lend legally in Louisiana? Or can they be licensed in their home state as long as they don't have a physical location in Louisiana?
I have several payday loans and they are all licensed in other states.
They say they don't need a Louisiana license, and looking through the list of licensees I don't see any that are not located in Louisiana. Is that correct?

Thanks!

Response:

Ms. :

Lenders who do not have a physical locations in LA do not qualify for licensure. Those who have licenses are listed on our web site at ofi.louisiana.gov if you would like to do business with one of them.

John J. Braud
Deputy Chief Examiner
LA Office of Financial Institutions
(225) 925-7762
(225) 925-4524 FAX

What does this mean?

Internet companies must comply with LA law.

Internet based lenders with no physical location can't have a license from LA. They are all illegal unless they also have a physical location in LA.

Specific amounts may be charged.

No rollovers are allowed, however, they can allow you to pay 25% of your principle, and the fee, and then do a new loan.

Some of the emails courtesy of Whitenan. Thanks!

The first step would be securing the money you do have. Putting a hard block on your checking account, or closing it. There is a sticky post titled :IMPORTANT - Read before closing your bank account due to pdl Read it before you do anything else :)
Before you do anything. Talk to your bank and secure your funds.

Second, after your funds are secured. Check on the site I posted earlier and do a search for each of your payday lenders. See if they are listed as having a license in your state. It seems to me according to your state laws, that they must be licensed in LA in order to lend to you legally.

Next, send out letters or emails. I did all of mine via email, but you can do what ever your comfortable with. I requested this specific information:
1. Verification that the company is licensed in your state
2. Validation of the debt
3. A copy of the contact
4. Verification of all amounts paid by me toward fees or principle.

also include this information in your email:

5. Cease and Desist infomation.
6. Revoke ACH authorization (this is important, I think you should give a copy to your bank as well, this way if they attempt to debit your account again, you can go to their processors (if you can find them) and prove that you revoked authorization to debit your account)
7. Revoke any and all wage assignements that you may or may not have signed (Also important)

You will have to do some leg work to figure out if the companies are legal or not. Unless someone else here knows right off the top of their heads.

The ones that you haven't paid over the principle amount borrowed, I would try to make arrangements with the pdl companies to pay only what you borrowed. i.e. Cash Net USA you paid $115.50 so you would still owe $184.50.

Here is a sample of the email I sent to my pdl companies, I included a copy of the Indiana state laws. You should write your own suited for your needs and the companies you are writting to:

Quote:

That last post was me, I forgot to log in :oops: :(
Jen

Thanks...that helps tremendously. I had no clue where to begin. I will get started on my letters today.

Again, thanks!!
Melissa

Welcome! Jen has listed some great info to get you started. In fact, she has probably given enough info to get you all the way through this mess! I too sent all of my communication via email. I only sent one fax and nothing by snail mail. Please keep us updated on your progress.

Do I inform them that I only want to communicate by e-mail or USPS? I really don't want to deal with alot of phone calls.

It's really up to you Melissa, I would certainly tell them that you want to be contacted only via email or USPS. Otherwise they are relentless. Sometimes, they won't even honor that. I know one of the one's that I delt with called me at work, when I told him he was not allowed to call me at work he said "I can call you anywhere I want to". Just keep in mind not to take anything these people say personally if you DO have to talk to them. They are grasping at straws, because they know they are practicing illegally and they want to try to scare you into paying.

I seen some things that make me wonder about the sanity of some of these people. I wonder if it's a prerequesit that you must be legally insane to work for a pdl company. :roll:

Jen

I would certainly "request" that they do that but we all know that they have a mind of their own and feel that they are above the law. Doesn't hurt to ask though.

Anybody have information on Cash Bank? A phone number or address?

I found the cash banc information. I did some searching and found their website and got their address and phone number.

Cash Banc
29L Atlantic Avenue, Ste. 324
Ocean View DE 19970

Phone: (800) 979-0823
Fax: (800) 979-0825
Email: [email]info@cashbanc.com[/email]

I was going to go with PDL assistance also until I came across this web site. I am so glad for this site. It has given me so much info I needed. Everyone has been great and so helpful. I'm just in the beginning stages but I will not consider PDL asst any longer. If you stay with the assistance of eveyone on this site, I really believe that it will be in your best interest