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Many months ago, I quit refinancing all of my pds's cold turkey. I was over my head and I had just had enough. So I just let them all go. From keeping tabs on different posts, I found out that many of them were illegal and surprizingly enough, very few of them have pursued me in paying....Except for one. It is a storefront pdl company that has turned everything over to collections, etc. I haven't heard from them in a long time, but today, I receive a "final notice" letter stating that if I don't submit full payment by Sept 9, then they will have exhausted all methods of resolution and it would be handed over to attorneys to file suit against me. I have heard that the storefront pdl companys are legal and action can be taken, but the fact of the matter is, I still don't have the full funds available to pay just like when I was trying to keep them refinanced. I live in Texas and am not sure of what I should do. Is this another scare tactic or is this something I should worry about. I've never had any judgements against me and don't have a clue of what to expect if this should go through. Any advice will be greatly appreciated.




Have you spoken to the storefront PDL and tried to make some payment arrangements (arrangements that would be easier for you to pay)? I would try that first if it were me.

Sub: #1 posted on Tue, 09/02/2008 - 21:13

Lorri Lorri
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What if they demand all of the money up front without any kinds of arrangements? My main concern is if this can go to court, and if so what will happen?

Sub: #2 posted on Wed, 09/03/2008 - 18:23

rsriley rsriley

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I'm not certain about the Texas PDL laws, someone will hopefully post those for you, but i think I've read in Texas they're are no wage garnishments allowed is that correct? If yes, then I don't really know what good taking you to court would do them.

Sub: #3 posted on Wed, 09/03/2008 - 19:05

lmale lmale

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the government can withhold wages (defaulted student loans, etc), but nothing else. i'm just not sure how to go on from here. i just don't think they'll take less than the full amount, but who knows.

Sub: #4 posted on Wed, 09/03/2008 - 19:44

rsriley rsriley

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They might be willing to settle on a payoff of a lesser amount. Try and see---you never know.

Sub: #5 posted on Wed, 09/03/2008 - 22:35

Lorri Lorri
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