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PDL Nightmare

Date: Thu, 04/19/2012 - 09:06

Submitted by imscrwd05
on Thu, 04/19/2012 - 09:06

Posts: 4 Credits: [Donate]

Total Replies: 8


I live in the state of PA and I have like 6 or 7 pdl's all out at once. I know I'm a moron but it got the point where I'm supposed to have a over a 1,000 dollar paycheck but by the time there done taking what I owe them out of my account im down to almost 200 bucks and none of that is going towards the principle. I have paid back the principle amount on some of the pdls but some I have not yet. What would happen if I close my account and have my employer send me a paper check. When they call I plan on saying someone hacked into my account and I plan on settling and setting up a payment plan with all them which I will send them money on which we come to an agreement on like once a month or something just on a prepaid card or a money order. Is this possible or am I completely screwed and will have a lot of issues if I try this. Please help and give me some feedback because I dug myself deep into a hole and can't get out.


Please share more details with us so we can better assist you.

What are the names of each of your online lenders?

How much did you borrow from each? (if you've had multiple loans with the same company, add up all of the deposits)

How much have you paid to each? (again, if you've had multiple loans with the same company, add up all the money they debited from your account)

PDLs are illegal in PA but there are some loopholes.


lrhall41

Submitted by OhioGal1 on Thu, 04/19/2012 - 09:22

( Posts: 5253 | Credits: )


United Cash loans-$ 400 no payments made yet

Fourseasons Cash-$ 650 second loan just started paid back first loan in full

Loan Shop/Riversi-$300 no payments made yet

GreatRock/SOAKAOG-$500 no payments made yet

Spot on loans-$450 second loan paid back first in full

Lakota Cash-$500 loan paid back $157.00 so far

Ameriloan-$300 loan paid back $535 so far

Peak3-$300 loan paid back $640 so far but I did call them and they took off the $90 fee and are taking 50 out each pay until the principle is paid off

Island Day Loans Pay-$300 loan paid back $540 so far

Fox enterprises-$300 loan paid back $810 so far


lrhall41

Submitted by imscrwd05 on Thu, 04/19/2012 - 10:23

( Posts: 4 | Credits: )


OK, first things first. None of your lenders are legal. You need to immediately close your bank account and open a new one. Make sure that no transactions can "reopen" the old account and that the new one is not connected to the old one in any way.

You can follow the step by step instructions in the link below (in my signature line).

United Cash loans you owe $400

Fourseasons Cash - when you say you "paid back the first loan in full," how much did you end up paying altogether?

Loan Shop/Riversi you'll owe $300.

GreatRock/SOAKAOG you'll owe $500.

Spot on loans same question as above, how much did you pay back on the first loan?

Lakota Cash - you owe $343.

Ameriloan owes you $235.

Peak3 you have already overpaid. They owe you $340.

Island Day Loans Pay owes you $240.

Fox enterprises owes you $510.


lrhall41

Submitted by OhioGal1 on Thu, 04/19/2012 - 10:49

( Posts: 5253 | Credits: )


So if none of my lenders are illegal are you sure I won't get sued if I close my account.

And are you saying what ever I paid on the first loans that is above the principle amount to subtract it from the new loans and just pay the difference.

Also will I be ok just to pay them in low monthly installments until I pay off the principle


lrhall41

Submitted by imscrwd05 on Thu, 04/19/2012 - 11:14

( Posts: 4 | Credits: )


I think you misunderstood. I said none of your loans are LEGAL. They're ALL illegal. So yes, close your account right away.

Quote:

And are you saying what ever I paid on the first loans that is above the principle amount to subtract it from the new loans and just pay the difference.


That's exactly what I'm saying.

Quote:
Also will I be ok just to pay them in low monthly installments until I pay off the principle


You can pay them however and whenever you want. They're illegal. They have no choice in the matter.


lrhall41

Submitted by OhioGal1 on Thu, 04/19/2012 - 11:20

( Posts: 5253 | Credits: )


I'm sorry I know I'm bieng bothersome but I'm just pdl illiterate. What about the loop holes you were talking about does that not apply to these lenders because the are not legal.


lrhall41

Submitted by imscrwd05 on Thu, 04/19/2012 - 12:03

( Posts: 4 | Credits: )


about 11/2 yrs ago there was a loophole in PA law that stated the loophole of if the pdl had license in any state you had to follow those pdl laws.PA finally came to their senses and totally prohibited pdl's.the other loophole is the CSO(credit service organization)as they are not pdl's and therefore not subject to pdl laws.those are the loopholes ohiogal was referring to.


lrhall41

Submitted by paulmergel on Thu, 04/19/2012 - 12:18

( Posts: 15514 | Credits: )