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Refund on the way (hopefully)

Date: Tue, 07/26/2011 - 12:30

Submitted by stullj10
on Tue, 07/26/2011 - 12:30

Posts: 24 Credits: [Donate]

Total Replies: 9


Well, I started the process of getting out of my PDL trap in June.

Today, I got my first offer to settle for the principle amount only including a refund.

They have been cooperative and I did my homework on my State's laws and pushed as aggressively as I could. Those efforts (maybe) paid off in the end. We will find out if the check arrives.

This is a US lender as I don't expect anything from my offshore loans.

The moral of my small story is to keep pushing and stand your ground. Don't be intimidated and DO YOUR RESEARCH. It's your money at stake here. I have kids to feed and bills to pay and I refuse to get into this mess again.

Some other lenders have been not so easy to deal with but I'm enjoying the small victories.

I thought one decent story would help people on the forums. I feel bad reading so many desperate posts as I was in that position as well just a short time ago.


$1189 cleared deposit in my account. Now I'm working towards the same results with others. This was the biggest one so I'm quite happy with it.


lrhall41

Submitted by stullj10 on Wed, 07/27/2011 - 07:41

( Posts: 24 | Credits: )


I am presently struggling with 8 PDLs - can you tell me how you did it and which one settled with u? I am in the state of NJ and just getting started with dealing with them all with little luck so far!!


lrhall41

Submitted by buxomblonde00 on Wed, 07/27/2011 - 15:54

( Posts: | Credits: )


I followed the advice of this forum. I closed my account and blocked the flow of money for them. Then we had a stale mate for about a month. I sent some emails with some light wording stating my position but saved my most powerful one for last. I sent it including a 24 hour deadline before I would act. Complaints would have been filed with PA Dept. of Banking, PA Atty General, FTC and BBB.

I asked for only a refund of payment over the principle amount. I copied my states PDL laws AND usury laws to define the legal interest rates clearly.

Another lender has settled for me to pay them the balance I owe vs. principle only, no other fees.

I'm still dealing with National Credit Adjusters who bought a loan I had with SGQ so we will see where that goes.

Good luck


lrhall41

Submitted by stullj10 on Thu, 07/28/2011 - 05:34

( Posts: 24 | Credits: )


Today, I settled on another $700 refund from a second lender. It wasn't a full refund for overpayment but it was, in my opinion, very reasonable.

I've got two more that I'd like to see some money from but so far they have been VERY quiet. They were my smallest overpayments so if I had any that would be uncooperative, I guess those are the ones I'd prefer.

Keep pushing for your refunds from illegal lenders!


lrhall41

Submitted by stullj10 on Thu, 07/28/2011 - 19:04

( Posts: 24 | Credits: )


I wish I would get refunds. I have lost a lot of money w/ these idiots.
Do you mind saying which ones you got refunds from? I have sent out several emails and have only been lucky w/ 2 out of the 8 loans I have.
I have however filed complaints with the BBB, FTC and Consumer's Department.


lrhall41

Submitted by eeyorelover79 on Fri, 11/04/2011 - 18:56

( Posts: 84 | Credits: )