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This is an interesting read. A 36% cap on high-cost loans promotes financial recovery.... linky.

I just read on another forum someone say that if you pay off a collection it will reset and remain as a paid collectoin for another 7 years. My collections are all several years old and I have been paying them down .... If i have a collection that was reported 3/2004 and has about 80 dollars remaining in balance (which will be paid off this month) will this disappear in 3/2011 or in 3/2016 (assuming 7 years) If this is the case i really shot myself in the foot by paying these off...

I guess this would be the right place to put this. This is report that come out in February about Consumer Protection in the States. I have not read it all yet but it looks like a fairly intersting report if you have some time or maybe are bored at work. Take a look at it.

Hello, I have been here before, but it's been a while. I'll try to keep this short. I just discovered today that Calvary Portfolio has frozen my bank account. Their "lawyer" contacted me a yr ago, I asked them to validate (2-4-08), they sent me (dated 2-21-08)a copy of the judgement I (my husband) signed with the previous CA (entered 2-2-07).

I got a loan through them last year in October I think, i closed my account so they couldnt debit it anymore. I just couldnt afford it anymore. A lady named Evora from Red River Ventures left a message on my voicemail today. What happens if I cant pay this remaining balance back? I live in Alabama - GADSDEN, are they even legal to do internet loans here? The message says she is from Red River Ventures and when you call the number back its Cityview cash that answers...can someone guide me on what to do...?

Ok. Not really sure where to start but I feel like I am trying to fight this battle blind. I graduated from college in Dec 2006. I went to school to become a pilot (started in 2000) and have a 4 year BS degree. Since the feds would not recognize my flight training expenses as part of my tuition I had to get outside funding for the schools I trained at. I borrowed from Chase Education One and Key Bank primarily. When it was all said and done I was in the neighborhood of $130K. After graduating I received a job mananging an airport for a city since I was unable to find a job flying right away.

I have 3 accts in Chex that are overdrafts that had went to CA's. Over the past couple years I've been paying down on my DMP. In the next couple of months I will have paid all these off entirely. My question is what should I do in order to ensure Chex reports the balances as Zero (at this point they have the original default balances on there). Right now my DMP pays the CA, not the original bank...what can I do to make sure the reporting is correct?

What is the cost to consolidate debt (with your agency)?

I received a call today that was crude and threatening from someone, who it sounds like, has called a lot of people on this post. They said that they needed my information or my lawyers' and that they were letting me know so i could get a lawyer that i was going to be arrested at 7am sharp tomorrow for three charges including fraud for not paying them back for a payday loan. I have never received a payday loan. I applied for some in spring '08 but was denied all of them and these people told me i was granted one in 2007.

I have 3 loans out 500, 600 and 1000 on payday loans as you can well imagine I am paying alot in fees every 2 weeks. I have been looking for any debt consolidation companies that are reputable and wont scam me like I fear is PDL assistance any good they say they are BBB cert. but I cant find them anywhere in the database? any suggestions?