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Debtconsolidationcare.com - the USA consumer forum

Pay day loan

Date: Thu, 01/06/2011 - 18:18

Submitted by mrsbntn
on Thu, 01/06/2011 - 18:18

Posts: 44 Credits: [Donate]

Total Replies: 16


hi
I live in TN and currently have 9 pay day loans. I am not at the stage where i am unable to continue to pay their outrageous charges. Today i filled out forms at my bank with revoke ACH authorization for each company. Tomorrow after my pay goes in and my account is back in credit i will close my account and open a new one. I have accel debt management which is a free service that is offered in association with my bank contacting some of the payday loan people. Is this a good idea? i know some of them are illegal but i just dont want a bunch of crap put on my credit. Two of them accel told me they wont deal with as the companies have always rejected any contact with them.
I have listed the companies below if anyone has any experience with them.
I contacted them today by email revoking ACH i have only had one email and one message back so far. PDY services say they will continue to try to get money Loanpoint USA want me to call them which im not going to.

loanpoint USA
loan shop
usfast cash
united cash loans
ssm
access processing
PDY services
bigskycash
pluto cash

Oh and to anyone who has had contact from the mysterious law firm with Indian/Pakistani employees called Jason dont worry about them i got calls even at work. my husband took great joy in being very rude and abusive to them and they didnt call any more. Also i reported them to the internet crimes people and the FBI. they called from a local number but who knows where they really physically are.


You have a lot of illegal lenders, so I am sorry to tell you this but they don't negotiate, and especially with a debt solution company, they are wasting their time trying to negotiate with them because illegal lenders are nothing but liars and criminals, they will rob you blind the first chance they get. Besides, due to the fact that they are illegal you shouldn't be negotiating with them anyway, all you legally owe them is the principal amount you borrowed, less any payments you have made, illegal lenders are not entitled to interest and fees. They can't sue you because their loan contracts are not enforceable in a court of law.

I will do some research on these lenders and be back with a list of the ones that are legal and illegal, meanwhile, CLICK HERE to find out how to deal with illegal lenders.


lrhall41

Submitted by Shazzers on Thu, 01/06/2011 - 19:28

( Posts: 17344 | Credits: )


Thank you i appreciate it . I certainly will not negotiate with illegal lenders. i will only pay back i think the one company where i did not pay back what i owed but i think i am only $90 off that with them .
Can they/do they report on your credit do you know and if so what can i do about it if anything


lrhall41

Submitted by mrsbntn on Thu, 01/06/2011 - 19:33

( Posts: 44 | Credits: )


I was just recently scammed and part of the money sent was obtained via payday loan. you can add advancemetoday to your list. It cost me 1000 or more to pay off a 400 dollar loan. I would not recommend this to ANYONE. It is nothing but highway robbery. In the last e-mail they sent me the address on the bottom was Costa Rica-why? Are they in on the scams too? These people are nothing but scum. I still do have the e-mail if anyone is interested in seeing it.


lrhall41

Submitted by Lisa Oberdorf on Sun, 01/09/2011 - 18:11

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Quote:

I was just recently scammed and part of the money sent was obtained via payday loan. you can add advancemetoday to your list. It cost me 1000 or more to pay off a 400 dollar loan. I would not recommend this to ANYONE. It is nothing but highway robbery. In the last e-mail they sent me the address on the bottom was Costa Rica-why? Are they in on the scams too? These people are nothing but scum. I still do have the e-mail if anyone is interested in seeing it.

"Costa Rica" yes, most Internet payday lenders are overseas, and no, they aren't legal, they are Internet criminals.


lrhall41

Submitted by Shazzers on Sun, 01/09/2011 - 19:32

( Posts: 17344 | Credits: )


Quote:

so really how DO you find out if they are licenced or not? most of these places have multiple addresses if they are even correct and big sky cash say they are on tribal land...not all states seem to obviously list their licenced PDL companies

Yes, Big Sky Cash is on "Tribal Land", and what they will tell you is they are immune to "State Laws" and follow their tribal laws, that is true, and if they were to pursue it legally it would mean they would need to forfeit their laws to sue in one of our state courts, they aren't about to do that because that would mean the interest they charge would be reduced to the what is specified per state. On the other hand, you are not bound by their "tribal laws", you are bound by YOUR state laws.

As far as the other lenders, I have spent countless hours and done extensive research on Internet payday lenders, I am not saying that I am an expert and always 100% right, but I always do my very best to locate a license (if one exists) for each payday lender I investigate.


lrhall41

Submitted by Shazzers on Sun, 01/09/2011 - 20:09

( Posts: 17344 | Credits: )