Here's my situation. I got caught in the pdl trap this year, and I really wish I could go back in time and slap some sense into myself to avoid this. In lieu of a time machine being invented, I've got to deal with it. I live in Texas and am currently dealing with the following pdls (some of these numbers are as close approximations as I can figure), they're all internet based =
1. CashnetUSA = Borrowed 500 still owe 502.05 paid 482.71
2. ameriloan = Borrowed 300 still owe 325 paid back 75
3. UpFrontMoney = Borrowed 200 still owe 289 paid back nothing
4. mtefinancial = Borrowed 300 still owe 390 paid back 75
5. acc (The Cash Spot) = Borrowed 300 still owe 375 paid back 75
6. AmOnlineMktgEnt = Borrowed 300 still owe 390 paid back 90
7. loan point usa (centruion) = Borrowed 400 Still owe ? paid back nothing
8. Pay Co = Borrowed 200 still owe 289 paid back nothing
9. Zip 19 = Borrowed 500 still owe 657.90 paid back nothing
To deal with this mess, I signed up with PDL Assistance. I closed my checking account and have opening a new one. The PDL deductions have stopped. PDL Assistance have got my $200 enrollment charge are set to take my first $432 payment on Jul 1st for a six month program. Seems fair enough to me, still a lot less than what I'd be oweing...
But now I'm NERVOUS.
Why? Because I'm hearing mixed things and don't know who to believe. I saw some negative stuff posted on this forum about PDL Assistance, but I've seen positive stuff posted about them, too. The stuff that really scares me is this =
All of the pdls have since told that me that either 1. They don't deal with third party companies or 2. The company will have to contact them and set up a proposal, not vice versa. I tell this to PDL Assistance and am told ""They all say that, don't worry, they'll deal with us eventually." I have faxed cease and desist letters to all the companies I could find, but two have called me back since then (one TODAY, on a SUNDAY). MTE Financial left a message saying "We received your fax, we advised you before that we don't deal with third party companies, call us back or there's nothing we can for you." Cashnet USA called today and left a message to return their call.
So who do I believe? Are these companies really bluffing me like PDL Assistance says, or does PDL Assistance not know what they're talking about? Also, here's an email I got back AOM after telling them twice that I was dealing with PDL Assistance:
"Again, we do not do that so if a proposal is not send to our company and no payment is received,we will sent this account to collections and report it for non payment. Any legitament debt consolidation always sends out a proposal. We have been in this business for many years and know just how this works. We do not go by he said she said. It you your past due debt, not ours.
AOM Internet Cash
Phone: (800) 285-8781
Fax: (800) 307-0987
So? Who do I believe? I would really prefer to stay with PDL Assistance if what they've told me is accurate, and these companies are just trying to scare me. But I need some kind of reassurance. I am calling them tomorrow morning and seeing if I can get some - I particularly want reassurance that they have dealt with these specific companies before.
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.