ExtraFund/PDL Ventures

Before you will receive a paid in full letter you have to pay off the principle amount of the loan borrowed. So far you've paid $180.00. They need to send you a current address (no exceptions) where you can send your pay / payments to pay off the $120.00 or purchase a money card and make your principle payments that way. You also need to file a complaint with the AG, FTC and BBB in CA against this company and provide copies to them. That seems to be the only thing that works.

Tell them your state law prevails.

IN SPITE OF MY CEASE AND DESIST LETTER, I received a phone call, at my office from one of the "account managers" who promptly proceeded to tell me that they are exempt from the Federal Laws that govern collection practices because their collections are handled "in-house." The young lady said that they will continue to call me at home, office and any other location they have a telephone number to, because they are EXEMPT. I asked this young lady if I could record the call - and she said why do you need to do that....you signed a legal, binder contract and now you owe the principal, plus interest, plus late charges. Prior to this call I received an email from another account manager that said....

"When you completed this application over the phone and signed your documents online you were given the opportunity to review your loan documents where it clearly states in red on the very first page that we are in fact licensed to loan to you as we are not directly through any individual state. You agreed over the phone with Christine when you took out this loan that "your legal commitment is the same, and is as enforceable in a court of law as if you had physically signed a loan document." Attached is a copy of those same loan documents for your record that clearly state all of our licensing and your agreement to this loan and any fees that may incur if you do not pay in full on your first pay-date. Near the bottom of the first page it also states that you are agreeing to go through our licensing, that there is an "exclusion of any state court or regulatory body." :mad:

First of all, I do not know who Christine is and second, I would never have signed away my rights. Has anyone ever heard of this type of tactic? Is this legal? :confused:

I filed a complaint today with the FTC detailing our conversation. I also filed with the AG in California and I have already lodged complaints with the BBB.

I would appreciate your thoughts regarding this PDL's behavior....I told this young lady that I am happy to repay the unpaid principal of $120 and not a penny more. The organization is doing business illegal as they are not licensed by the State of California.

It's a typical scare tactic. The more you talk to them, the more they will call. Hang up immediately! Do not give them anyone to argue with, it serves no purpose other than to try and scare you.

Received another email stating that they are not subject to the collection practices because they are not a third party. Also stated that they will not lower the amount and that all payments must be made via "pre paid debit card"?

Anyone have any thoughts and/or suggestions?

Thanks.

Load the amount you owe on a prepaid card Wal Mart money card works great, call them and give them the information. Trust those of us on the forum they will take your payment. Only load what is owed and if you have to make payments load that amount. You control the situation, not them. They are illegal your not!!

Okay; I borrowed $300. They have taken $180. She says that they will not lower the amount to $180, that I must pay the original $300+90....any thoughts on how to proceeds?

Thanks.

Tell them to shove it where the sun doesn't shine.

I am going pay the $120 balance and call it a day