Am I on the right PATH to get outta this mess???
Date: Thu, 05/13/2010 - 17:00
I Live in MD...Today I decided I have had enough with these Payday loans. I have a total of 4 open the companies are
PAYDAYMAX- $300 Loan Paid w/$250 balance
QLOOT aka VIPCASH- $500 loan to date I have paid $150 every 2 weeks for a total of $1900.00!!! Balance still sits @ $500
CASH JAR- $500 loan, Have paid $987 dollars so far only $200 has been applied to principle.
National Payday- $300 loan- Balance sits @ $125.00
I started my research online and decided to try to end what looks to be an endless battle with these PDL companies. I came across this website and I have spent my whole day off, Handling this issue. I first called Payday Max and was prompted to enter my zip code, then I was advised by by the automated system that Loans are not available in my area! That Led me to speak to a rep and Ask since the loan is invalid could they just accept what I have already paid them and no longer Attempt to collect anymore? She told me that the loan was opened before the law took effect so I was still obligated to pay on it, Even though I had already paid the principle. So I contacted there collections DEPT Credit protection depot and as soon as the lady confirmed my info she Offered a PIF and said I owe nothing anymore, I didnt even have to give my long thought out speech that I had prepared in my head.
To make a long story short, I did the same Thing with CASHJAR, they tell me that I can settle for $300....UMMM NO! that would mean you are going to collect $300 in addition to the $987 i already paid...
The real shock came when I called VIPCASH and requested to speak with the collections DEPT. I advised that My account with them was in good standing and that would be coming to an end after tomorrow because I am closing my bank account! The guy connected me to someone who is "in charge" He got on the phone and I advised him that I was no longer going to pay on this loan that I have paid basically 4 times what I borrowed, with no end in sight. He sounded nervous and agreed that he would close out my account and I owe 0, sent me and email confirming the arrangement. Then I got a call saying that they were going to give me $400 back in good faith, basically told me to inform my AG here in MD that they zero'd out my balance and gave me some money back.
My Best friend is the Branch manager at my bank and He is going to close out my account tomorrow, he has already put Stop payments out for CASHJAR and VIPCASH, CAshjar is the only one that is now scheduled to come out tomorrow. Account will be closed and I can start to enjoy my damn paycheck more!
Cashjar lady told me that the payment tomorrow has to come back ACCount closed in order to offer me a settlement of $100. what do I do? pay a settlement to rid them or Push to have my overpayment of $478 refunded???
NATIONAL PAYDAY- only scheduled a min payment of $25 with them. Should I Just pay the loan off (not sure if I gave them $300 yet) or Demand PIF if I have already paid $300.
PAYDAYMAX- $300 Loan Paid w/$250 balance
QLOOT aka VIPCASH- $500 loan to date I have paid $150 every 2 weeks for a total of $1900.00!!! Balance still sits @ $500
CASH JAR- $500 loan, Have paid $987 dollars so far only $200 has been applied to principle.
National Payday- $300 loan- Balance sits @ $125.00
I started my research online and decided to try to end what looks to be an endless battle with these PDL companies. I came across this website and I have spent my whole day off, Handling this issue. I first called Payday Max and was prompted to enter my zip code, then I was advised by by the automated system that Loans are not available in my area! That Led me to speak to a rep and Ask since the loan is invalid could they just accept what I have already paid them and no longer Attempt to collect anymore? She told me that the loan was opened before the law took effect so I was still obligated to pay on it, Even though I had already paid the principle. So I contacted there collections DEPT Credit protection depot and as soon as the lady confirmed my info she Offered a PIF and said I owe nothing anymore, I didnt even have to give my long thought out speech that I had prepared in my head.
To make a long story short, I did the same Thing with CASHJAR, they tell me that I can settle for $300....UMMM NO! that would mean you are going to collect $300 in addition to the $987 i already paid...
The real shock came when I called VIPCASH and requested to speak with the collections DEPT. I advised that My account with them was in good standing and that would be coming to an end after tomorrow because I am closing my bank account! The guy connected me to someone who is "in charge" He got on the phone and I advised him that I was no longer going to pay on this loan that I have paid basically 4 times what I borrowed, with no end in sight. He sounded nervous and agreed that he would close out my account and I owe 0, sent me and email confirming the arrangement. Then I got a call saying that they were going to give me $400 back in good faith, basically told me to inform my AG here in MD that they zero'd out my balance and gave me some money back.
My Best friend is the Branch manager at my bank and He is going to close out my account tomorrow, he has already put Stop payments out for CASHJAR and VIPCASH, CAshjar is the only one that is now scheduled to come out tomorrow. Account will be closed and I can start to enjoy my damn paycheck more!
Cashjar lady told me that the payment tomorrow has to come back ACCount closed in order to offer me a settlement of $100. what do I do? pay a settlement to rid them or Push to have my overpayment of $478 refunded???
NATIONAL PAYDAY- only scheduled a min payment of $25 with them. Should I Just pay the loan off (not sure if I gave them $300 yet) or Demand PIF if I have already paid $300.
I just hope VIP Cash doesn't try to debit your account under ano
I just hope VIP Cash doesn't try to debit your account under another name, they are known to do this. Don't negotiate with any of these lenders, YOU are in control of your destiny, not them. I wouldn't give them another red cent since you have more than paid them off, however, don't take anything they ANY of them say as written in stone, because they are nothing more than criminals. CLICK HERE to find out how to deal with unlicensed lenders.
If you live in Maryland, I'd also suggest calling the MD Dept. o
If you live in Maryland, I'd also suggest calling the MD Dept. of Financial Regulation in Baltimore (address and phone #s listed on this site). They've been a big help to a lot of people.
