Doing it on my own
Date: Thu, 03/12/2009 - 10:27
After many days of research & careful consideration and lots of time on this site reading all that I could, I decided to handle my own payday loan nightmare.
I live in NJ and through this site I have found that they are prohibited. A few of them I have already paid off according to this and some I still owe on .
I closed my bank account 10 days ago.
Today I sent Certified C & D letters to those I had addresses for and will email the rest. (i know not to fax from home or job) The ones that I owe money to I told I will pay back the original loan amount only - and will begin sending them payments each month starting at the end of this month.
I did consider Langhorne Solutions which was recommended by some on this site, but found that their charge was just too much and they dont take into consideration that the loans were prohibited in my state and they include the loans that should be paid off as part of the balance -if I went with them I would be back into the same situation that started me with the PDL's to begin with.
So now I am in the process of reporting to the BBB, FTC, and the NJ-AG.
Is there anything I am missing?
What should I do if /when they start calling? I already have all my co-workers prepared to tell them I am either not available or I dont work here any longer, but what do I say if they get me on the phone? I know all the threats are just that -I know I cant be arrested - do I just listen politely and thank them for their time when they are done??
THanks
teddiejan :)
Wow, You sure have done you homework. I think you covered eve
Wow, You sure have done you homework.
I think you covered everything. If I can think of anything I will post it.
Good Luck and keep us updated! :D
First thing, tell them you are not allowed to receive calls at w
First thing, tell them you are not allowed to receive calls at work. They have to respect this. It sounds like you have a good relationship with the folks you work with so I would pass it onto them to tell them you are not allowed to receive calls at work. This will stop that part of the harrassment.
Second thing, I would if they call you on any other number, cell, home..etc. I would just simply state the laws and hang up.
I found myself in the same trap and by reading this site it helped me tremendously.
i live in NJ and i have settled all of mine. it will be much eas
i live in NJ and i have settled all of mine. it will be much easier that you think! some of them are stubborn and none of them will admit that the loans are not legal but they know they're wrong here!
i would make it clear for them not to contact you, mine were not so bad. also, keep in mind that some of them take awhile before coming out of the woodwork.
this site gave me every bit of information I needed--I cant than
this site gave me every bit of information I needed--I cant thank all of you enough - I was so scared when I started and wasnt sure I could do it on my own but after reading about how many of you did it on your own and how much info was right here -- I was even shocked at how nice the people at the BBB and DOBI were!
Thank you also for the "I cant take calls at work" advice --that is keeping it very simple and easy to remember!! The only other number that they have is my cell & I have most of those numbers blocked already so hopefully that will leave them no alternative but to contact me by email or snail mail...
good luck, if you need anything else, please let us know! in st
good luck, if you need anything else, please let us know! in states where they are prohibited, it really makes it a lot easier. they make threats but they are just words, they cannot do anything.
If you have a State regulatory agency for financial issues, it w
If you have a State regulatory agency for financial issues, it wouldn't hurt to contact them, as well. Here in MD our govt. agency for financial regulation has been a great help to me and others. Good luck and there IS light at the end of the tunnel! Most of us here have "been there and back"
