Wow...Did I ever wade into a giant mess
Date: Wed, 06/30/2010 - 10:03
Elderly mom went into hospital. I have her POA and started looking over her bills and checking accounts. At this moment, there is at least 5-10 PDL loans. I have no idea for how much or with whom. I spoke with the state financial regulatory agency and out of of all the names that showed up on the checking account only one was registered. The checking account is now restricted for outgoing ach's and will be closed within 30 days. I also have an appointment with her attorney. I have changed her phone number and will have her mail intercepted. Until I meet with the attorney, what else can I do or expect happen?
Someone will be along to help you out, but first - do you have a
Someone will be along to help you out, but first - do you have any idea at all of the names of the PDL's, or the name of whoever's been making the withdrawals from your mothers' account? Once they know they can't get into the bank account, some PDLs' will "fade away," others will start with calls, etc., immediately. Also which State does your mother live in?
Until I can speak with her attorney, I have to be deliberately v
Until I can speak with her attorney, I have to be deliberately vague but her residence is Florida and one of the companies is Northway Financial. I looked on their website and they're located in Malta. That can't be good. Hoping to insulate her from harassing calls, I had her phone disconnected before I put the block on her checking account.
My dealings with Northway Financial was a PDL that I got from Zi
My dealings with Northway Financial was a PDL that I got from Zip19.com. it showed up as northway financial on my bank statement. They are out of Malta and are not able to give loans in the US if I remember right.
Thank you for the answers. I have another question. Most of th
Thank you for the answers.
I have another question. Most of the ACH's will be denied tomorrow and that's when I expect the crap to start hitting the fan. My mom had been borrowing (and paying back) these loans for a couple of years. Will the companies keep records of their loans and the amounts paid back and will they make them available if requested?
Quote:Originally Posted by AnonymousThank you for the answers.
Quote:
Originally Posted by Anonymous Thank you for the answers. I have another question. Most of the ACH's will be denied tomorrow and that's when I expect the crap to start hitting the fan. My mom had been borrowing (and paying back) these loans for a couple of years. Will the companies keep records of their loans and the amounts paid back and will they make them available if requested? |
I wouldn't count on that happening. If she obtained these loans online, the chances of them being legal lenders are slim, that being said, if her lenders aren't legal they will tell her she owes WAY more than she does, and will change their names and debit from her account over and over again, under various names. It's hard to block them out of an account once they have all the personal account information. All this applies IF the lenders are unlicensed/illegal. I can't really make that determination without more information though:
-Names of each pdl company.
-Whether they are store front or Internet.
-How much you borrowed.
-How much you paid so far.
-The state in which you reside.
