Pdl lady in pdl trouble too!

Also, I asked her what my payoff was as of today. She told me it was $1534.00. How can this be? I borrowed $1500.00 in October '06 and have to this date paid them $979.00. I need some help as far as how to handle Corporate....don't think they will be so understanding. WHAT WOULD YOU DO? What is a fair and legal amount to agree to pay these people? I live in Illinois....HELP!!!!!!!!!!!

candiceann, is Americash a storefront or
internet pdl?

I will talk to supervisor of Americash and ask for an itemized statement showing all the previous payments done on this account. You need to make sure that $979.00 is posted to your account. Definitely check whether this company is charging according to your state laws. I assume they are either adding excessive charges or not posting payments on your account because the outstanding balance never got down. If possible, go to their office and resolve the matter.

This is a Storefront loan....thanks Berra that is probably a good place to start. The state laws leave me a little confused...from what I've read under the Illinois state law....is that they are only allowed to loan up to $1000.00 and that interest is only to be $15.50 per $100 loaned.

Here is a full summation of the payday loan law in IL.

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Do you have the fine print from Americash? You may review it thoroughly and see if the contract is according to the laws of your state. If anything is wrong, fill up the dispute / argument form and file it with the company for correction.

Be careful with the storefront loans. From what I had read on this site, they are usually licensed in your state.

Wow, that's amazing that the lady who is giving you the loan is also in the same boat. When I paid out my loan, the man who is the clerk at the office told me that he had to go borrow money from a finance company to take care of something. You will be amazed at the number of collectors out there who know what we are going through because they are going through the same thing.

Be careful of loans, as someone said on this board. Storefronts are harder to get out of, in my opinion.

Storefronts are definitely something to use caution with, when trying to pay them off. Try to work out a payment arrangement with them if at all possible. Storefronts, for the most part, follow the law of the state they are located in, and therefore, have the ability to pursue legal action against you, including a judgement and garnishment of your wages if you don't pay.

It's so typical that the PDL lady is also in the same boat. Probably the PDL place she works for doesn't even pay her peanuts!