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reply from BBB decisions

Date: Fri, 04/25/2008 - 11:34

Submitted by whiterock73
on Fri, 04/25/2008 - 11:34

Posts: 376 Credits: [Donate]

Total Replies: 23


First off i have heard back from the BBB, but would like advise as to what to do now. I don't know how to transfer the response onto this site so it can be "analized".


IT WORKED!!!!!!!!!!!!
I borrowed $300.00 from this place. with the fees attached I owed $390.00. I paid $180.00 before closing my acct. Balance then went to $510.00 of which the company said they would not eccept anything else but the $510.00. once BBB complaint was filed and company responded the remaining balance is now $180.00 which totals to the $390. I am to respond to the BBB. Would appreciate any opinions/advise as to what i should do..
Thanks


On April 24, 2008, the business provided the following information:
April 24, 2008

Better Business Bureau of Eastern Oklahoma

1722 S. Carson Ave, Suite 3200
Tulsa, OK 74119

Re: Case #
Dear Mr. Wade:
We have researched this account and feel all of the terms and conditions have been met. The customer came to our website, they were provided with all of the terms and conditions before the application was even received by us. The customer was even asked a question whether the terms were understood, the customer had to answer, "yes" before the application could continue. In addition there was a 48-hour time frame they could cancel the loan without incurring a fee. An Account summary was also emailed to the customer before each debit once more explaining the terms and conditions, and the options for repayment available.
A copy of her agreement is available, it can be faxed, once we are given a number.
As a courtesy, we will assist the customer by reducing her current balance of $510.00 in collections to $180.00 until 05/11/08 only. She agreed to an original balance of $390.00 when requesting our funds, she has only paid $180.00 toward that original agreed upon balance.

This must be sent via Moneygram, instructions as follows:
Pay to: ameriloan
Receive Code: 4311
City/State: Miami, OK
Acct-Compliance-103801365

This money must be received by 05/11/08, or the account will continue at the full balance due, per the contract in collections.

No legal questions can be answered or addressed by this department.

Thank you for your time and consideration in this matter.

Respectfully,
Compliance Department


lrhall41

Submitted by whiterock73 on Fri, 04/25/2008 - 12:09

( Posts: 376 | Credits: )


White. . . .that is the exact same response I got from ameriloan after the BBB involvement. Correct me if I am wrong. You had a $300 loan with a $90 fee. You have paid $180 on that loan. They asked for $510 but have now reduced the payoff to $180. If you accept their offer of $180 to pay in full then you would be paying $360 total on the original loan. Am I correct in my figures? If so, you would need to make a decision on what they have offered. If you can afford the $180 and you want to be one more PDL free and feel that $60 is worth the price of being done with them, then I would say go for it. I did settle with Ameriloan for just about the same thing. I did it in a heartbeat to get them the hell out of my life. You still have time. May 11th is still a couple weeks away. Good luck with your decision. Keep us posted.


lrhall41

Submitted by llw1995 on Fri, 04/25/2008 - 12:42

( Posts: 1422 | Credits: )


Well I feel like an idiot! I can't add, SORRY!! You would actually be paying back $360.00, and IF they are illegal, all you are morally required to pay them back is the principal amount. Sorry about the error in adding, my mind is a little preoccupied today! :? Anyway, did you inform the BBB that they were illegal? My response would be, that since all you are morally obligated to pay back is the principal amount of $120.00, due to the fact that they (ameriloan) are not legal, and you will pay by money order ONLY, IF they give you an address to send the payment to. That would be my response, but that's your choice.


lrhall41

Submitted by Shazzers on Fri, 04/25/2008 - 12:53

( Posts: 17344 | Credits: )


i just stumbled here,been there,done that.you owe 120.00 not a penny more.i did the same tango with them.do not give in.they eventually will.


lrhall41

Submitted by paulmergel on Fri, 04/25/2008 - 12:55

( Posts: 15514 | Credits: )


My fault..I can't add. llw you are correct 180X2 is 360.00, but the amount that was financed was 300.00. since they are illegal in my state i feel that the $120.00 remaining on the original amount loaned is a reasonable solution. Yet i have to agree with your suggestion as to if i just want the people off my back.


lrhall41

Submitted by whiterock73 on Fri, 04/25/2008 - 12:59

( Posts: 376 | Credits: )


white. . . I agree, morally you are only obligated to repay what they deposited into your account. I overpaid by a few bucks myself but it was worth the money to be done with them. It was one less hassle. It didn't break me and I am now free of them. In the end I feel I made the right decision.


lrhall41

Submitted by llw1995 on Fri, 04/25/2008 - 13:41

( Posts: 1422 | Credits: )


then it is a personal choice,i wasn't gonna let an illegal bunch like that dictate to me.everyone is different.if you want to be rid of them accept there settlement.


lrhall41

Submitted by paulmergel on Fri, 04/25/2008 - 13:54

( Posts: 15514 | Credits: )


white. . .I jumped into this game when I wasn't very far into the PDL thing. I had not overpaid anyone when I found this board so I was in a position to play the game a little. I have settled three of my five PDLs at the original amount of the loan and the remaining two will be paid the same as the first three. . . .at the original amount of the loans. I can certainly understand and appreciate the fact that many on here have paid these loans many times over and that would certainly make a difference in the long haul. Do what you feel is right for you.


lrhall41

Submitted by llw1995 on Fri, 04/25/2008 - 14:00

( Posts: 1422 | Credits: )


whiterock,i would stick it out,think about it in this economy.they have harrased on an illegal
loan.that extra $$$$$ could go toward something you need.i just don't like an illegal pdl getting more than they deserve.


lrhall41

Submitted by paulmergel on Sat, 04/26/2008 - 06:03

( Posts: 15514 | Credits: )


paul, that is what i have decided to do. I would cost me extra money to send a moneygram as opposed to a money order. I would like to think that if they want their money, they would provide an address. Don't want to respond until tomorrow as i don't have my printer here and want to make sure i print everything up so i have a record of it.


lrhall41

Submitted by whiterock73 on Sat, 04/26/2008 - 13:01

( Posts: 376 | Credits: )