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Date: Thu, 02/19/2009 - 19:57

Submitted by Tessira
on Thu, 02/19/2009 - 19:57

Posts: 7 Credits: [Donate]

Total Replies: 21


I've been looking around and reading, and I'm not really sure if I can do all of the things that have been discussed on here. Apparently the laws in Missouri are more lender-biased than in some states. Even though I haven't paid much more than principal on some, I'm literally drowning in PDL debt as most of you are/have been in the past. So sad that I have a job making pretty good money, yet don't see a penny of my paycheck every two weeks. Any help or info on my situation is greatly appreciated.

I live in Missouri and all of my PDLs are internet only.

500FastCash - Borrowed $400, Paid (as of 20 Feb 09) $945
Unitedcashloans - Borrowed $300, Paid (as of 20 Feb 09) $360
Oneclickcash - Borrowed $250, Paid (as of 20 Feb 09) $300
Nationwidecash - Borrowed $400, Paid (as of 20 Feb 09) $480
Paydayone - Borrowed $500, Paid $138.20
EastsideLenders - Borrowed $600, Paid (as of 20 Feb 09) $360


Quote:

500FastCash - Borrowed $400, Paid (as of 20 Feb 09) $945
Unitedcashloans - Borrowed $300, Paid (as of 20 Feb 09) $360
Oneclickcash - Borrowed $250, Paid (as of 20 Feb 09) $300
Nationwidecash - Borrowed $400, Paid (as of 20 Feb 09) $480
Paydayone - Borrowed $500, Paid $138.20
EastsideLenders - Borrowed $600, Paid (as of 20 Feb 09) $360


I as I suspected only one is legal which is PayDay One. For the others you only owe the principle on the loan.

500FastCash - Illegal, they owe you $545

Unitedcashloans - Illegal, they owe you $60

OneClickCash - Ilegal, they owe you $50

Nationwidecash - Ilegal, they owe you $80

Eastsidelenders - Illegal, you owe them $240

PayDay One as I stated is legal and they are an easy company to work with. You can make arrangments with them.

With so many illegal lenders they best advice I have is to close you bank account. You can make arrangments to pay PayDay one using moneygram or a prepaid Visa.

You can go here and learn about how to deal with the illegal lenders.

Make sure your bank account is closed BEFORE sending out any letters to them or they will attempt to debit.

I woud not get your hopes up about any refunds from these lenders. Most people just get a PIF (Paid in Full) and are happy to be done with them.

We are here if you have have more questions or need advice.


lrhall41

Submitted by nohiogal on Fri, 02/20/2009 - 02:26

( Posts: 2582 | Credits: )


I've finally made a bit of progress so I thought I'd post an update. Thanks to those who offered their advice btw. You all are extremely helpful!

Anyway, I went to the bank today and surprisingly had no trouble closing my account. They are going to let me make payments to bring it back to 0 as it is currently seriously negative.

Beyond that I'm working on getting letters ready to mail out, as well as making phone calls to make arrangements with the two "legit" lenders I still have to deal with.

Between payments to the bank and paying off these last two loans there still won't be much paycheck at the end of the week, but at least I'm in control finally.


lrhall41

Submitted by Tessira on Tue, 03/03/2009 - 17:01

( Posts: 7 | Credits: )


Congrats on making progress. Did you ask PayDay One for and EPP? That might help you get in control. You mentioned you have 2 legit lenders. Who was the other? If you just owe them part of the orignal loan amount (to the "other" one), pay them what you can each payday and don't overextend yourself. It is more important that you pay the bank and do what you can with the others.


lrhall41

Submitted by 1susan1111 on Tue, 03/03/2009 - 18:53

( Posts: 46 | Credits: )


The other legit lender is First Bank of Delaware for an installment loan. Neither of them can debit automatically now due to the account closure, so once I talk to the bank tomorrow to figure out a payment plan I will work out something with them.

I have not asked Paydayone for an EPP yet. I will try that tomorrow. First Bank of Delaware is already an installment loan with payments of $98 every two weeks, but I'm not sure I can afford that much right now. Hopefully they'll work with me too.

I have emailed the letters to the illegal lenders, but hope to get the hard copies mailed by the end of the week. In other words...I'm sure the real fun is yet to begin once they don't get their money for the first time this Friday. How long can I expect the harassment to last? I'm not exactly the most confrontational person in the world so I'm not looking forward to that part.


lrhall41

Submitted by Tessira on Wed, 03/04/2009 - 21:49

( Posts: 7 | Credits: )


So it starts...

Got the first response today to the letters I emailed out to PDL's a couple days ago. It happened to be from Nationwidecash. I'm going to copy it below. Please advise how I should proceed. I'm not sure if I should respond to him and let him know that I'm NOT still taking out payday loans or if it's best to just ignore him. I'm assuming it's all hollow threat and scare tactics, but I'm just starting this journey so I'm not sure. Any words of encouragement/advice are GREATLY appreciated.

Here goes...

Mr. smith had sent me a copy of your email I am the recoveries manager my name is Dave Schofield, I am going to respond to by email. The first thing I need to ask you, if our loans are illegal in your state, may I ask why do you keep to apply for payday loans on the computer? I also did my research, so that when you file your complaint just make sure that you do tell (B.B.B AND F.T.C) that you are still taking out loans, because when they ask us about your account and history we will have to let them know.
With this being said, I was reading over all the notes on your account and didn???t you tell your loan rep that you understood and agreed to all the payment options offered, see you could of paid your loan back on the first payment but you chose to only pay the finance charge, you never called us to pay off your loan so that means you understood only the fee would be taken, so this leads me to believe that you had planned this all along to only pay a couple of fees file a complaint and think that we would agree to make your account paid in full. This is where you made your mistake we will enforce the contact that you esigned and sent us. I know for a fact that you applied for at least 2 other payday loans beside our company.
At this time I would like to mention that if we do not receive a call making some type of arrangement we will have to take action.
Thank you and have a nice day

Dave Schofield
Recoveries Manager
Nationwidecash.com Inc
[email]dave@nationwidecash.com[/email]
Phone 877-711-1199 ext 543
Fax 866-808-7187


lrhall41

Submitted by on Thu, 03/05/2009 - 15:46

( Posts: | Credits: )


I was thinking the same thing kfstaff. If you're going to have someone threatening people with legal action and all sorts of things, it's probably a little more effective if they seem to be at least a little educated.

FYI - I did send him a reply in which I told him that he was taking a lot of liberties in assuming he knows my situation. Also told him he could rest assured that all of the necessary agencies are aware of my situation. I threw in there that I have stopped "dealing" with them now that I know they're illegal, but his mistake was knowingly operating illegally. His problem, not mine.

Haven't heard back yet.


lrhall41

Submitted by Tessira on Sat, 03/07/2009 - 16:32

( Posts: 7 | Credits: )