Ughhhh....Loan Shop Online
Date: Wed, 09/02/2009 - 13:48
Twice now they have come back and stated that since they've loaned me $100 that's what they want back regardless on whether or not that I've already paid $45 because that's the interest on the loan.
As of just a few minutes ago re-sent them my proposal letter with a little statement in it saying that according to IA state laws, internet payday loans are illegal and that since I've already paid $45 that amount goes toward the principal amount and the remaining amount of $55 would be sent to them upon the Loan Shop Online sending me their physical address.
No one said it'd be easy to get these pdl's paid off but geez louise! Loan Shop Online appears to be the worst when negotiating.
I've found an ol' discussion for you where members have discusse
I've found an ol' discussion for you where members have discussed about Little Loan Shop. Hope it'd give you the insight.
http://www.debtconsolidationcare.com/paydayloan/dealing-with-loanshoponline.html
IMO they are making an unjustified demand. If they are illegal in your state, the most they can get back is the principal since they actually have lent you the money at that time.
SC - thank you for sending me that link. It was most helpful al
SC - thank you for sending me that link. It was most helpful although now it seems that I've received another email back from the Loan Shop Online stating that they will settle for $100.00 and no less.
Now I'm not sure as to what letter to send back to them stating that I've already paid down a portion of it and I'm not going to give them another $100.00 on top of it.
I'm about ready to pull out my hair at this point....
all you can do is keep sending your letters. they cannot legally
all you can do is keep sending your letters. they cannot legally do anything to you but argue and make threats. just stand your ground, they will cave if they want to see a penny more.
