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Need help with PDLs in Tennessee

Date: Sun, 09/04/2011 - 20:30

Submitted by pdaw09
on Sun, 09/04/2011 - 20:30

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Total Replies: 2


After my husband lost his job, i got into the internet payday loan trap and now have 5 internet payday loans. I owe, Ameriloan, $650/0 paid, United Cash Loan $500/$ $260 paid in interest, Sure Advance $400/ $270 paid in interest, GECC $450/$250 paid in interest, and PayDayOne $$850/ $900 paid in interest and rollovers...ugh. I live in Tennessee and need to find out what my options are. I have spoken with an attorney and he says close my account. Also I spoke with Progressive Debt Relief and they can help me settle. They have a C rating with the BBB. Any suggestions? I do not want these bottom feeders calling my work. Thank you!:confused:


You should contact with the Tennessee Department of Financial Institutions to know whether or not pdl companies are licensed to operate in your state. You will be accountable for both the principal and interest if the lenders are licensed in your state. You can get rid of the debts by paying them only the principal amount if the lenders are not licensed in your state. Licensed lenders can sue you because of non-payment of debt. So it is better to repay your debts. You may get help from a reputable debt relief company. Illegal lenders won???t be able to take any legal action against you. If you have paid them more than the principal amount, then ask them for the refund. You can get the contact detail of the Tennessee Department of Financial Institutions from the following link:
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html


lrhall41

Submitted by sandra.nelson15 on Sun, 09/04/2011 - 22:17

( Posts: 129 | Credits: )