Woo-hoo! Interesting new facts!

Tell me if I am understanding this right, if a pdl refuses to accept payments then the debt is invalid? Or am I seeing this wrong?

That's what she said! They refused her payments, so the whole thing was moot! She still tells them to get bent.

Especially if the documents were signed electronically! E-signatures make the whole thing even more of a joke.

There is more and more info that is just showing how illegal the online lenders activity is, from start to finish. E-signatures not being valid, illegal to require ach withdrawals to get a loan...

Do you know who the pdl company was?

It could have been any of them. She said her ex-husband illegally used her SSN, I'm not even sure she knows since she didn't volunteer a company name. In Pensacola they are all Cash America and Cashland. Since she also mentioned e-signatures, there is no telling which one it was. The point is this, e-signatures prove nothing, and she was the first to extend an offer to right the wrong, and they snubbed her offer. That is why the issue is moot.

What?
What if you've made payments, but the company decided to send your account to an outside collector anyway? Isn't that the same as refusing to accept payments?

It will be in the best of your interest to contact the payday loan companies and arrange a payment plan with them. Explain your situation to them and offer them a realistic plan. If you stick to it, the company won't harass you.

Do all your correspondences in writing. This way, you will be able to file everything for records. Keep a follow up over the phone.

Thanks for stepping in David! Always a good team player!

Thanks Ari for the compliment. :)

Anytime. I'm not always 100% about payday loans, so I'm glad to have you at my back, and Tammy too. I am 100% on the fdcpa and am proud to be able to have all your backs when the stuff hits the fan.

Since we are discussing PDL's maybe someone can offer an answer to me. If so many of the online PDL's pull all of this illegal garbage and use shady tactics how do they remain in business? I don't mean how come people go to them, but isn't there some type of "watchdog" type of service on the internet that could have some type of control over the dishonesty. I know that the Internet is still relatively new and this might be part of the problem. I would imagine that in the Internet of the future this problem could be eliminated through newer technology. However, in any era of history and technology there is always a criminal element present.

A lot of these payday lenders present a "Dr. Jekyll and Mr. Hyde" persona. They are a sweet as sugar when you are a borrower, they also approach you online, in your e-mail, in the form of spam with a headline that reads "Get $500 deposited today!". When the going gets tough, their Mr. Hyde side appears and they are as disgusting as can be. They also get around it because they are many and they are scattered throughout the world, and any given Attorney General has so much jurisdiction. Payday lenders that are based outside the U.S. slip through the cracks because they are difficult to trace. It isn't over yet though, they are beginning to be taken down one by one. What really cracks me up is that after you square away one loan, Dr. Jekyll returns, kisses your bottom, and tries to ply you with another loan.

Hey Ari,

Isn't it considered soliciation on the part of the pdl when they send you emails offering you money?

Certainly is! I always spam block those messages. Those charlatans sent me an e-mail offering me a job! Can you believe that? A payday lender's commission is 80%! How f'd up is that?

very f'd up in my opinion. I have all the emails from these places sent straight to the spam folder.

I would never accept such a low, slimy job exploiting people. I hate commission jobs anyway, they come complete with office politics and a pecking order just like at Protocol.

80% commission, you are very correct that is screwed up. That must be why they are so desperate to get their money then. :(

That is precisely the incentive I was offered to work from home as a so-called loan officer. What a crock! Other silly 'tard spams I get include farcical "approvals" for a new Mercedes-Benz, I make $25,000 annually right now! No way am I getting a Benz! Also, free laptops. And this one takes the cake- offers to join a lesbian dating site. Not that I have a problem with lesbians, I just think spamming is a desperate measure! :lol:

Tammy---Is solicitation illegal on the Internet. Or maybe should I ask what you mean by solicitation. I always thought that the emails you get were just like flyers you get in the mail.

Solicitation on the internet is spam, just like on the phone it is telemarketers, in the mail it is junk mail. American Express has an "Opt Out" program where cardmembers can sign up not to get mailings, e-mails, or phone calls. I would imagine your ISP has something of the like available.

So if these pdl's are signed electronically, does that make them invalid or illegal?

Hi rtcmom

Payday loan companies use digital signatures in order to make the contract legal. But by law, you must have the contract signed in person. You must also have the copy of the loan contract before the money is put into your account.

thanks john!!

Yes, thanks John for having my back! You are such a good team player!

one comment about the refusal of payment, It is my understanding that this refers to a refusal to allow you to tender payment as you see fit, meaning that if you offer to mail via money order/cashiers check and they state that they only want to receive it electronically then that is a reason to invalidate the debt.. a creditor always has the option top accept or not to accept partial payments and not accepting partial payments does not invalidate the debt

Thanks Ari for the appreciation. :) We all will make this place rock!!

Good show JJ and John! I know I'm not the Omniscient Ex-collector, so am just so appreciative when you guys have my back!

Quote:

I think Dell Computers and payday loans are in two completely different ballparks. Dell is high tech, and a legitimately operating business who probably has authorization to use e-signatures. Payday loans are a load of crap, and who knows how much they are doing that they are not authorized to.

I used the digital signature against Sonic in my letter to them, not to mention about their voluntary wage assignment.

Good, good, good. Use all the muscle you have to bring them to their knees!