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Help with IL PDLs

Date: Tue, 12/14/2010 - 08:38

Submitted by Steven Boonstra
on Tue, 12/14/2010 - 08:38

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Total Replies: 2


Well I need to figure these PDL's out. I started out with PayDay1 and I understood that I either had the choice of paying back $500 plus like $90 or I could have payments with interest. That was fine. Then I tried a couple more places and as I thought it was the same deal as PayDay1, its not. It's got all of these reinstallment and renew loans that basically get you nowhere with what you owe them. I'm gonna payoff PayDay1 as they worked well with me and I understood what I was getting into. The other 3 are manipulative. Now I checked the IL laws and I noticed a couple things.
1. Maximum Number of Outstanding Loans at One Time: Two
2. Loophole Loans over 120 days: No Cap (not sure what this means)


Details:


PayDay1-$500 I've made $628.25 and have 4 more payments of $89.75 (I am paying this one back)
OneClickCash-$400 I've payed $480 balance hasn't moved
PayCheck Today-$300 I've payed $360 and my balance hasn't moved
Ace Cash Services-$350 I've payed $420 balance hasn't moved

All done through internet.

I want to close my bank account and get rid of these other 3, any advice, help, or input would be great, thanks.


Paydayone is your only legal lender and you have more than paid off the illegal ones. Yep, I would close my account if I were you, then call Paydayone and make payment arrangements with them, just explain that your account was compromised and you had to close it so you will need to make payments via the mail with money orders, I would also make it clear to them you are not going to obtain a new account so all payments will be made via the mail. And whatever you do, do not give your new account information to ANYone, if you decide to obtain a new payday loan online after you close your old one, your new account info will be compromised again because Internet payday lenders share information and are all somehow connected. CLICK HERE to find out how to deal with illegal lenders.


lrhall41

Submitted by Shazzers on Tue, 12/14/2010 - 09:02

( Posts: 17344 | Credits: )