Illegal PDL's that I still owe principal

Date: Mon, 04/06/2009 - 18:21

Submitted by anonymous
on Mon, 04/06/2009 - 18:21

Posts: 202330 Credits: [Donate]

Total Replies: 6

I have 8 illegal payday lenders that I still owe principal in the state of Oregon. I have almost paid the principal on 3 of them, but have realized that with my other debt I might have to file for bankruptcy as I just can't make it having to pay all the interest every 2 weeks. I feel morally like I need to make good on these loans as I only took them out 2 months ago, so I was wondering if anyone has had success sending letters to these illegal lenders telling them that you will only pay the principal when you still owe principal. Here are the lenders if it helps:

One Click Cash
Loan Point USA
PayDay Yes
EZ Cash Media
Red River
Ameriloan
Arrowhead Investments
Laser Lending

Also, can I still file complaints with the BBB and FTC as they are loaning without a license to people in Oregon? Any information would be greatly appreciated.

Quote:but have realized that with my other debt I might have to

Quote:

but have realized that with my other debt I might have to file for bankruptcy as I just can't make it having to pay all the interest every 2 weeks.

KittyCat have you closed your bank account? If not please do ASAP! You should not be paying renewal fees if these guys are not even LEGAL or Licensed to lend.

lrhall41

Submitted by Cool_Abyss on Mon, 04/06/2009 - 18:32

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yes you can file complaints.also with your state AG as well.can you recall how much was debited by each.include fees and rollovers as they go toward the loan as these are illegal lenders.

lrhall41

Submitted by paulmergel on Mon, 04/06/2009 - 18:34

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I think all of those are illegal except maybe be Laser. I have n

I think all of those are illegal except maybe be Laser. I have never heard of that one. You should close your account.

With illegal lenders your only owe what you paid borrowed. All those fees and interest you are paying are not going to the principle balance on the loan which is what you really owe.

Please go here and read up on the steps to take when dealing with illegal lenders.