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My cash Now

Date: Wed, 12/23/2009 - 17:52

Submitted by ldomrzalski
on Wed, 12/23/2009 - 17:52

Posts: 38 Credits: [Donate]

Total Replies: 6


Ok - so I have a PDL for $500 through MyCashNow that I haven't paid anything on at all, I am in PA and I have about 12 PDLs - so I was not able to pay anything on this and it went deliquent. I closed my bank account already, sent out letters - everything this site instructed to do. This PDL went to a third party collection agency called Professional Debt Mediation and they sent me a notice that I now owe $1000.00. I sent them a Debt Validation letter and they just sent me back my original loan agreement with MyCashNow showing that I borrowed $500 = plus a $73 fee. But the cover letter from Professional Debt Mediation still states I owe $1000.00 and says that I need to pay this in full in 7 days or they will continue their collection procedures. I know that I am only responsible for the original loan amount - but how do I know this is a legitimate 3rd party? The copy of the loan agreement is actually cut off on the sides and looks funny. I don;t want to pay them the $500 if this is not a real collection agency.


If you search the forums you can learn more about Professional Debt Mediation collection agency. IMO you must get everything in writing if you decide to settle with the collector.

Though payday loans are illegal in PA, you are still responsible for repaying the principal amount borrowed from the lender.


lrhall41

Submitted by SC on Wed, 12/23/2009 - 21:44

( Posts: 3937 | Credits: )


It is me - just too lazy to login - I did a search on PDM and they sound awful to work with. If they are a legitimate CA, why ar ethey tacking on an extra $500 to the amount owed?


lrhall41

Submitted by on Thu, 12/24/2009 - 06:18

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Did you receive all this via email or via the mail? You need to file a complaint against this collection agency with the FTC and your AG, explain in your complaint that you have TRIED to explain to this collection agency that they are attempting to collect on an illegal debt, you may also need to recap the entire situation but it's very important that you file a complaint! Let this collection agency know you have done so, and please follow through with the complaints.


lrhall41

Submitted by Shazzers on Thu, 12/24/2009 - 07:15

( Posts: 17344 | Credits: )


I will file a complaint - but the last time I filed one for another PDL company - the AG office said I didn't send enough info. What else do I send besides a letter detailing the situation? In this case, there are no bank statements to send since I didn't pay anything on this loan yet. I received this info from the CA via the mail.


lrhall41

Submitted by ldomrzalski on Sat, 12/26/2009 - 20:17

( Posts: 38 | Credits: )