PDL Repayment Help

If you list the companies we can help you better.

If you know the amount you borrowed and how much you paid that would be helpful as well.

Little Loan Shoppe - $300 - no payments
Pay Day Max - $600 - no payments
Pay Day One - $1000, paid $329.66 & $227.19
Think Cash - $1250, paid $200
Cashnet - $806, original loan was $1000 I think

Little loan Shoppe as well as Payday Max are illegal.
Payday One is legal.
Think Cash is an installment loan not a payday loan so the laws do not apply to them.

Is the Cash Net just Cash Net or is it CashNet USA? CashNet USA is legal, Cashnet is not.

Secure your account first and then send the illegal lenders letters stating they are illegal.

You only owe what you borrowed. Any fees or charges you have made apply to that amount.

You can find a sample letter here. Scroll to the 13th post to find it.

You need to change it to you information and state laws.

For the legal lenders, contact them after the account is closed and make payment arrangements.

Nohiogal,

If a payday loan company is illegal, what exactly does that mean to me. I know I am obliged to pay the debt, but no additional fees, correct? By sending these letters saying they are illegal, what happens next?

It was Cashnet USA. I called the number on their web site and they said they "sold" my loan to DMP for collection and at that time I owed $938.04. DMP is NOT who is calling me now. It is Tri-Financial.

I am completely overwhelmed and baffled about how I go about getting this straightened out.

I sent Tri-Financial a certified letter on March 4 quoting the FDCPA section about Validiation of Debts and I received a return receipt that they got the letter on March 9. I have not received any documentation from them about what I owe.

Any help would be so appreciated.

When a company is illegal/unlicensed then you only owe back the amount you borrowed. Any fees or rollover charges you have paid apply to that amount.

You probably won't hear back from Tri-Financial as they probably can't verify the debt.

Actually, Tri-Financil has begun calling again. Even after I have received the green card confirming their receipt of my debt validation letter. I haven't called them back.

Think Cash and Pay Day One both had sent settlement letters to me on February 20. They look to be the same letter just from different companies. I could not take the settlement amount at that time and I called Think Cash today and now it's back up to the full amount due. Any thoughts on whether another settlement may be offered and if so, should I accept.

Oops. Those last two posts were from me. I forgot to sign in.

Think Cash is an installment loan so the payday loan laws do not apply. Payday One is usually easy to work with and will make payment arrangments.