Refund after paying off PDL that are illegal?
Date: Mon, 08/30/2010 - 09:00
Thank you for all your help!
When you send your letter like some folks have posted in their t
When you send your letter like some folks have posted in their threads --- you can demand a refund of anything you paid over the initial amount borrowed as since they are illegal they are not entitled to any interest, etc. From what I have read some folks are sucessful at getting their money.....I jsut faxed my letter on friday....so I am waiting to see if I am! Good luck!
Did you send them the C & D letter or just a letter letting them
Did you send them the C & D letter or just a letter letting them know you know that they are illegal and would like your money back? Also, I plan on closing my account after this friday-once all the PDL's(well for the most part, most of them) have debited what I requested, how would they refund money?
Please keep me posted in regards to your situation! I appreciate any input.
It was one of the form type letters that folks had posted - tell
It was one of the form type letters that folks had posted - telling them I revoked my ACH authorization and that they were only to contact me via e-mail. Also stated the KS law and that since they were not licensed in KS, as required by law, they are only entitled to the principal amount I borrowed and no interest, etc...so they owe me over $1000.
I didn't close my bank account as I have a lot of other things set up out of it - but my bank put a block on them....and they are great about disputing things and will credit me back if something does slip through. I just hope this process doesn't take forever...what a nightmare!
bigtrouble, you may not need that money from your relative. If
bigtrouble, you may not need that money from your relative. If you've already overpaid them, why would you pay them more then ask for a refund? Can you give us more details? What state are you in (CA)? Who are your loans through? How much did you borrow? How much have you paid thus far?
i posted on another thread, i have 9 PDLs with most of them i've
i posted on another thread, i have 9 PDLs with most of them i've only paid a rollover fee of 1 or 2 times, meaning i have alot of principal to still payoff regardless if I send the C & D letters. My take is the companies did provide me with the money when I needed thus I have to pay back the principal but my plan is this:
I want to pay all the loans I can payoff with the money that i just borrowed from family and then after the accounts paid off, send a letter to this companies with the state law in California and asking for the finance charges that they charged me. I know its a long shot but I cannot do what most people have done and that is close the account then send letters out and wait for all hell to break lose. I work at a very high person in the company and if they start calling I will never be trusted again. I want to pay them back and with me having the cash to pay them now, I want to clear them up one at a time. My hope was pay them what I owe then send the letter asking for the finance charges be given back.....probably not going to happen but just wondered if anyone had any luck after the fact?