Setting up repayment with illegal PDL's
Date: Mon, 04/06/2009 - 08:00
My question is, when setting up repayment, how much authority do I have to dictate the terms? Like if I say 'I can afford to send you $50 a month', do they have to accept whatever I decide to send them?
The first round of e-mails will go somethly l ike "Sorry you owe
The first round of e-mails will go somethly l ike "Sorry you owe (whatever your principal is)... plus fees" and we are completely legal bs. You might have to send a few reminders that they are illegal before they accept your terms.
But ulitumately (sp) you have the upper hand seeing as they are illegal, though they will say they aren't, and threaten that they will sue you. Just remind them that they are illegal and you can only afford so much towards whatever principal balance you have left with them.
Figure out what you legally owe according to your states laws an
Figure out what you legally owe according to your states laws and pay them that. Only use a prepaid debit or money order. They will insist on an ACH but they are not allowed by law to require that as the only form of payment.
Besides, be documeted for whatever you communicate wih them, thi
Besides, be documeted for whatever you communicate wih them, this is going to help in near future.
i just wanted to add that, yes if you are 100% sure they are not
i just wanted to add that, yes if you are 100% sure they are not legal, you can ditact and pay them back on your terms, what you can afford. they most likely will not admit to being illegal but eventually usually give in to your terms. either way they cannot pursue legal action, all they can do is make uselss threats.
