Settlements Living in CA
Date: Tue, 12/12/2006 - 17:26
Anyone have a clue how this will be received? I just sent out the letters 2 days ago and have not heard from anyone. I'm waiting for the phone calls to start which will be a huge problem for me at work (I've changed my home number so they won't reach me there!)
I gather that with PDL companies I cannot tell them to STOP phoning me like I can a collection agency- does anyone know if that is true?
Sorry for the long message....just at wits end!
mskimmers, Are the lenders licensed to do business in your state
mskimmers, Are the lenders licensed to do business in your state? Are you dealing with ipdl's? if so which ones.
I would give them a little time since the letters just went out.
You can ask them not to call you at work and provide thm with an alternate # and they are suppose to stop calling you at work.
As far as I can tell (and talked to the Dept of Corp here in CA)
As far as I can tell (and talked to the Dept of Corp here in CA) none of them are licensed. The companies are :
CTC
ameriloan
Starlight
GFIS
Apollo
Cashnetusa
I've spoken to Cashnet but that's it. I emailed everyone except Apollo who I had to send snail mail to. The contact info for the others all listed email addresses on their websites so I figured it was ok to deal with just email. I hope that's correct.
Talk about losing sleep over all this. Last night I was awake from 330 onwards!
Under the fdcpa, you can ask that they only contact you in writi
Under the fdcpa, you can ask that they only contact you in writing. You need to know that even if they call you and say the CHP, the County Sheriff and God are on their way to arrest you, that this is a LIE!! Defaulting on PDL's in CA is NOT a criminal offense, but a civil matter.
They will probably send you a bunch of threatening emails, but since they are not licensed in CA, they wouldn't risk going to court. I would, however file complaints with the State Dept of Corporations.
Storefronts, however, do follow the law, so I would take care of any storefronts first.
California State Information
California State Information
Legal Status: Legal
Citation:
Cal. Fin. Code ???????? 23000 to 23106
Loan Terms:
Maximum Loan Amount: $300
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot charge fee for extension)
Cooling-off Period: None
Repayment Plan: Voluntary (no fees may be charged in conjunction with payment plan)
Collection Limits:
Collection Fees: $15 NSF fee
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: California Department of Corporations
Address: Financial Services Division, 1515 K Street, Suite 200 Sacramento, CA 95814
Phone: (866) 275-2677
Fax:
Regulatory Contact: ,
I thought the fdcpa didn't apply to PDL companies? Am I wrong (
I thought the fdcpa didn't apply to PDL companies? Am I wrong ( I hope so)
Fair Debt Collection Practices Act or the FDCPA laws are followe
Fair Debt Collection Practices Act or the FDCPA laws are followed by collection agencies only. Creditors or any of their internal collections dept. is out of the laws.
OK so they can call and harass me as much as they want :(
OK so they can call and harass me as much as they want :(
Unfortunately, this may not be what you wanted to hear, but yes,
Unfortunately, this may not be what you wanted to hear, but yes, they can. You can't throw anything legal if they are making repeated calls.
But yes, if you request them not to call your place and work out an arrangement, the lender will stop calling until you stick with your plans.