reply from BBB decisions

you could copy it from the email, if it is an email and paste it to your posting.

OK i will give it a try...If your ears start ringing you'll know it didn't work. (LOL)

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

Whiterock, is ameriloan legal, do you know?

Not in Oregon

Well, the $180.00 amount would have you only paying back the principal amount, so that seems fair to me, but, if it were me, I would pay by money order.

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.

I agree. If they want their money, then one would think that they wouldn't be afraid to give an address.

I agree with Shazzers on this one. DO NOT pay with your account number (check, debit card, credit card, or wire transfer) I would suggest only money order or one of those gift visa cards only put the exact ammount of 180 on the gift card and after you pay them cut up the card.

Shazzers, ameriloan is illegal. They're yet another of the many MTE companies.

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.

I am dealing with them too even though they are illegal I personally want to pay back the original amount of the loan I took out 150 and total paid them 45 so I am trying to settle with them a payback of 105 by money order. Unfortunatley I have not heard back from them yet.

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.

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.

I have a question, they are illegal but should the settlement be taken or not to eliminate any more involvement with them?

paul - i am struggling with that issue too. I borrowed 300 and therefore after paying 180.00 i should only owe 120.00 and that is it. i am also not going to do it by moneygram.

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.

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.

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.

thanks to all for the support..i am still trying to decide what i want to do at this point, i feel though that they deserve nothing more than what i borrowed and will only do it my money order.. will sit on it alittle bit longer and then send my response.

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.

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.

cool,keep us posted. 8)