Collections

I have read that if the illegal pdl sells your defaulted loan and the ca is licensed in your state then that is a legal loophole they can use. I read on a thread somewhere that Sonci did this.

jn-I did some research and came up with this (http://www.paydayloaninfo.org/state_detail.cfm?id=NC) see if that answers your questions...Karen :D

If you knew PDL's were illegal why did you take out an illegal loan?

fyi, are you here to help or to be a jerk. DOn't you think we are all sorry to be in this situation? Stop talking down to us.

Most people do not know. I did not know that they were. Until I was unable to contact my internet pdls to make arrangements each payperiod to pay them off, they give you numbers that don't work, this is how they stick you for the continuous roll over fees which are illegal in most states. And most when you research are not licensed to lend in any state let alone their own state. And CA just recently took that stand on September 8, 2006. I can tell you from personal experience I was finally able to reach one of my pdls and I WAS NOT IN DEFAULT, told them I wanted to pay off the principal ($300) they said yes, BUT I HAD TO PAY $590! After I had already paid $210.

FYI - why waste time posting a comment if you do not have a good answer or some information.
I didn't know they were illegal at the time. Had I known, I wouldn't of applied for one. I have paid more than the loan amount and would just like it marked paid in full.

That's right jnmeads, if they are not licensed in your state and you have paid more than your state allows then start demanding they be marked paid in full.

I totally understand your dilemma...

I have to say, FYI is very helpful on this forum. She is a collector who has always been able to see both sides of the story, and can explain what will and won't work.