LoanPoint USA
Date: Wed, 10/20/2010 - 10:14
I am assisting a family member with tackling 8 PDL's. The family member has a gambling problem, has already declared bankruptcy 3 years ago, attempted suicide a month ago and now is in counseling trying to get back to normal. They currently have 8 PDL's out there which total around $6000. They have not paid any of these loans in the past month and have recently closed their bank account because the bank fees were in excess of their paycheck every week. I have read some information on these forums and want to call the first lender, LoanPoint USA to negotiate. Here is what I know about the loan:
The loan was done online. However, the family member lives in Delaware and I've read LoanPoint USA has a storefront in DE.
The original loan was for $600 in February 2010.
Payments were made bi-weekly at $162, totaling over $2000 paid so far.
The family member called recently and was told that they still owe $762 plus fees (unknown amount).
I am looking for any advice on how to address this first loan. I have made a call and left a message with the DE Office of the State Bank Commissioner. My family member has contacted the AG's Office and claims that they cannot help them.
Any guidance is greatly appreciated. Thank you.
The loan was done online. However, the family member lives in Delaware and I've read LoanPoint USA has a storefront in DE.
The original loan was for $600 in February 2010.
Payments were made bi-weekly at $162, totaling over $2000 paid so far.
The family member called recently and was told that they still owe $762 plus fees (unknown amount).
I am looking for any advice on how to address this first loan. I have made a call and left a message with the DE Office of the State Bank Commissioner. My family member has contacted the AG's Office and claims that they cannot help them.
Any guidance is greatly appreciated. Thank you.
Quote:Originally Posted by WorksForBierI am assisting a family m
Quote:
Originally Posted by WorksForBier I am assisting a family member with tackling 8 PDL's. The family member has a gambling problem, has already declared bankruptcy 3 years ago, attempted suicide a month ago and now is in counseling trying to get back to normal. They currently have 8 PDL's out there which total around $6000. They have not paid any of these loans in the past month and have recently closed their bank account because the bank fees were in excess of their paycheck every week. I have read some information on these forums and want to call the first lender, LoanPoint USA to negotiate. Here is what I know about the loan: The loan was done online. However, the family member lives in Delaware and I've read LoanPoint USA has a storefront in DE. The original loan was for $600 in February 2010. Payments were made bi-weekly at $162, totaling over $2000 paid so far. The family member called recently and was told that they still owe $762 plus fees (unknown amount). I am looking for any advice on how to address this first loan. I have made a call and left a message with the DE Office of the State Bank Commissioner. My family member has contacted the AG's Office and claims that they cannot help them. Any guidance is greatly appreciated. Thank you. |
Have you checked to see if LoanPoint is licensed to do business in Delaware? I did not think they had a storefront, only internet services, but I could be wrong.
I've now talked to the State Bank Commissioner and they could no
I've now talked to the State Bank Commissioner and they could not find Loan Point USA or Geneva Roth as being licensed. I talked to LoanPoint today and they stated that the total owed has now reached $1100 since no payments have come in since September.
Quote:Originally Posted by WorksForBierI've now talked to the St
Quote:
Originally Posted by WorksForBier I've now talked to the State Bank Commissioner and they could not find Loan Point USA or Geneva Roth as being licensed. I talked to LoanPoint today and they stated that the total owed has now reached $1100 since no payments have come in since September. |
If they are not licensed to do business in your State, then you only owe them the principal balance. I would file a complaint with your State's attorney general's office. I live in Ohio and I had a payday lender that was not licensed to do business in Ohio. With the help of the State's Attorney General's Office, I was able to get a paid in full letter and refund!