logo

Debtconsolidationcare.com - the USA consumer forum

Forums
  • Latest topic

Best way to go about settling with the legal PDL companies?

Date: Wed, 02/04/2009 - 02:20

Submitted by timothy.ly
on Wed, 02/04/2009 - 02:20

Posts: 59 Credits: [Donate]

Total Replies: 3


After alot of reading on this wonderful forum I've figured out how to settle with the illegal compaines by sending them an ACH revocation letter and telling them I want to settle for the principal amount only.. but my question is.. What is the best way to go about settling with the legal PDL companies? Do I send them letters too and tell them that I can no longer make the payments as scheduled and that I'm going into debt consolidation and ask for payment arrangements? Thanks


The best way to handle legal lenders is to ask for an extended payment plan. If your legal pdl companies are CFSA members they must allow you participation in this plan. There are several legal lenders who are not CFSA members but still offer this option you just need to ask however there are also some who do not offer any kind of plan other than to buy down the loan requiring a larger payment when you go in to pay the rollover fee or extension as some call it.

How ever you decide to handle your legal lenders it is best to communicate with them. Staying in touch makes you look more credible as a person who wants to resolve a problem rather than run away from one.


lrhall41

Submitted by kfstaff24 on Wed, 02/04/2009 - 02:31

( Posts: 1448 | Credits: )


Some pdl companies claim they will not work with Debt Consolidation companies but many people here have done it with success and others have still received threats from these companies saying they will not work with the company you select for consolidation.

Make sure you research the company you choose. If you type the name in the box in the upper right hand corner of this forum (search) you may find information from other members who have used the company and how it worked out for them.

Good luck to you and remember you are not alone, we have all been through this process.


lrhall41

Submitted by kfstaff24 on Wed, 02/04/2009 - 02:45

( Posts: 1448 | Credits: )