first bank of delaware/think cash

It was supose to be First Bank of Delaware not Fist.

I have one too. I am pretty certain that it's not a PDL. It is an installment loan with fixed payments that have a fixed schedule and a stopping point. PDL's don't stop....they just keep rolling over!

They are not a PDL. They are legal just about everywhere. We have 2 loans with them. Haven't paid them in months. They never call....I called just today to see what the status was and was told they are both written off and were no longer being charged interest. I working out a plan of action now, the only thing the girl ask me was "are you going to take care of these loans" I said yes and we hung up.

FBDL is licensed to rob people of their hard earned money!!!! It amazes me what they get away with just because their business is located in Delaware. I have a loan with them and I cannot wait until I am finished paying it. Our lending laws nation wide really need help.

I'm so glad that I made my last payment in December, I am through with pdl's forever.

lmale, when I defaulted on my loan, it went unpaid for a month or two then I was able to speak with someone who set me up on a 6 month plan to pay the loan off, no more fee's were added, they just divided my balance into 6 payments. I set it up to come out from my debit/cc card everymonth. I was also able to call & have them change the date by a week or so if there wasn't enough money at the time.

For some reason, I try to make my own thread and I keep getting an error message so I am replying to this one.

I am in MN. Took out loans with First Bank of Delaware and Payday 1 last February. (I had reloaned with them). Anyways, I got 2 emails (1 from each company) willing to settle my balance at 60% of just the principal. So Friday I paid Payday1 the settlement with my check card. The lady assured me that the card would be deleted after the settlement was paid.

Today, I called FBD and made 2 payment arrangements for the settlement amount with my check card and now I am worried that they will give out my number to the illegal lenders that I am not paying anymore because I have paid WAY more than the principal on those.

Has anyone ever had any trouble. Both ladies at the those companies were very friendly and assured me that my information was not stored (only last 4 of the card number).

Why do people take loans that they have no intention of paying back?

PDL loans get alot of negative hype (it's almost always all negative) only because people don't want to pay it back.

You agreed to the loan, nobody put a gun to your head.

Furthermore take out a government loan and see if you can default on that.

I've tried PDL's for years and never had a problem.

Daniel Robinson. You are an idiot.

Why do people take out loans they have no intention of paying back?

Every payday loan I ever took out I paid back several times over. The socities of every country on this planet are set up with a system of have and have- nots. Have- nots live paycheck to paycheck as the amount of money they make only covers the basics. These people have limited resources. Any unexpected turn in life that requires money can be devastating. And the wolves lie in wait. In what world can you justify a 400% interest rate on a loan? This one.

Sometimes it is just a matter of the have- nots trying to reclaim a little dignity. God knows we deserve it.

I had two pdl's one with delware and one with 500 fast cash. I had some issues so I stopped paying them but now I'm trying to get the address for them so I can send them payments because I don't trust giving them my banking information.

Hopefully, I can shed some light being an insider of said Bank.

The payday loans (PDL) are not suppose to be for long-term use. If you really break down the 365% or so, the Bank is charging you 1% interest for every day (365 days in a year) you have the loan/balance outstanding.

Most people see getting $1000, but never really sit down and do the calculation of their payemnts over 12 months at $200 (or so), so they can see the difference of $1000 vs $2400. There is a hefty price to pay for needing that $1000 in your account within 24 hours that "some" people really don't do the math over.

When you default on the loan, yes they are written off, but the Bank will always take something on an uncollected account. I posed in another thread, if you "slick wit it", you can call and negotiate a pay-off amount which at tme scan be as low as 50% of the balance if you pay in fullor work out some payment terms. The only caution I tell people, is that if your account sits as a chargeoff and The Bank or someonethey sell the receivables to reports your credit in hopes of collecting after reporting you, it's a hard sell.

The reps are trained to detect when customers call in and want to pay their balance, which they do not negitiate and try to get the most if not all of it out of you. They are noting everything in the system. But if you call and go straight for negotiation, you will not leave them any room to wonder if they can get all the money.

If you read up in recent news (2011), The Bank and Thinkcash's relationship has ended, so if you are carrying a balance, I would call in to make sure you know who is holding your account, your personal information, and more importanly, are they reporting to the credit reporting agencies.

Hope this helps.

Thank You Daniel Rodriguez. The fees and interest are spelled out clearly. They are expensive. You will pay more than twice the principle amount if you do not send more than the minimum. BUT you are the person who agreed to these terms. So do not complain about them. If you qualify for a cheaper form of credit. Use it