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Multiple PDL's some legal some illegal

Date: Fri, 04/12/2013 - 11:32

Submitted by anonymous
on Fri, 04/12/2013 - 11:32

Posts: 202330 Credits: [Donate]

Total Replies: 4


I have been reading through this site. I have several loans that are about to eat me alive with charges. I looked on some of the links you posted and it looks like a couple of the lenders are legal in my state and the others are not. What do I do about the legal ones? I have paid back the principal of the loan on both. Here is what I have:
Speedycash - loan for $1000 paid 147.30 since July 2012 every two weeks
CashNetUSA - loan of $500 been paying $70.70 since Jan 13 Paid them 353.50
SpotLoan - loan of $600 paid 87.48 since Jan 13 and now have a balance of $743 I belive and they told me the total will go up everyday with interest.
American Web Loan loan of $600 paid $180 and then stopped payment - they never told me what my total owed was just that I would pay $180 a week and could make extra towards principal
Advance America (storefront) - $375 owe 400.25- have made a couple of draw downs started at $425.
From what I have read American Web and Spotloan are illegal in MO which is where I am


Yes, you're right. Spot Loan and American Web Loan are illegal in your state. Pay back the amount you have borrowed. There is absolutely no need to pay the interest rates or fees. The rest of the lenders are legal in your state. You'll have to pay off the loan along with the interest rate and fees.


lrhall41

Submitted by ditchdebt on Sun, 04/14/2013 - 20:25

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Speedy Cash, CashNetUSA and Advance America are all CFSA member lenders. If you are having trouble repaying them, call their local/corporate office and ask for the EPP. Under the new plan, the interest accrual is going to be frozen and your remaining loan balance is going to be spread evenly over 2-5 pay periods.


lrhall41

Submitted by Steve Barris on Sun, 04/14/2013 - 21:53

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What is EPP?? I am not sure what I need to ask for. Can I still revoke ACH on them so that they will not take anymore money out. I have no problem paying them just can't pay the amounts they want.


lrhall41

Submitted by ChristinaE on Mon, 04/15/2013 - 14:39

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an EPP is an Extended Payment Plan - they may tell you that you have to go into collection to be able to work out a payment plan - best to call the corp office and talk to some one directly - tell them that you just can't afford - tell them the situation and what you can do when.. I would revoke their ACH authorization - when you call them to talk to them tell them you are shutting your bank account down and you will need to arrange another way to pay them. Make sure that you make sure your bank account is secure prior to this ... legal or not they may try to go after the bank account..


lrhall41

Submitted by HelpinAZ on Mon, 04/15/2013 - 15:04

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