PDL Loan unwilling to work out plan, then what?
Date: Wed, 01/13/2010 - 10:50
If these payday loans are illegal and you have offered to set up payment plans but they are unwilling to work with you, what do you recommend. I took out a PDL w/US Fast Cash and they are demanding that I pay them in full in 3 payments of over $260.00 each - I don't have that kind of money and I told them that - I told them I will pay them but it has to be a lower amount and I also mentioned that their payday loan is illegal in MA and they said it doesn't matter because they are in OK and that I need to abide by their laws and I told this girl that I spoke to an attorney from the American Bar Association and that he said I am protected by the state that I reside in - she wasn't willing to work out any other lower payment with me and hung up on me. Any recommendations on how to deal with people in this kind of situation would be greatly appreciated. AM3738
Quote:Originally Posted by alice.marandaIf these payday loans ar
Quote:
Originally Posted by alice.maranda If these payday loans are illegal and you have offered to set up payment plans but they are unwilling to work with you, what do you recommend. I took out a PDL w/US Fast Cash and they are demanding that I pay them in full in 3 payments of over $260.00 each - I don't have that kind of money and I told them that - I told them I will pay them but it has to be a lower amount and I also mentioned that their payday loan is illegal in MA and they said it doesn't matter because they are in OK and that I need to abide by their laws and I told this girl that I spoke to an attorney from the American Bar Association and that he said I am protected by the state that I reside in - she wasn't willing to work out any other lower payment with me and hung up on me. Any recommendations on how to deal with people in this kind of situation would be greatly appreciated. AM3738 |
two questions
how much was borrowed
how much was debited before default
if the amount in debits equals the principle you owe them nothing.i would file AG,and FTC complaints against this illegal lender.i personally wouldn't talk to them further as they are illegal,and chances are good you owe nothing if not next to nothing.
Since it was an illegal loan to begin with I would send them a c
Since it was an illegal loan to begin with I would send them a cease and desist letter and forget about them. You also need to close your checking account and open a new one to protect yourself from illegal withdrawals. Finally I would suggest staying away from this type of business and credit cards also.
