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FL Storefronts

Date: Sun, 08/02/2009 - 06:59

Submitted by anonymous
on Sun, 08/02/2009 - 06:59

Posts: 202330 Credits: [Donate]

Total Replies: 6


I have been tied up in this for several years with the same company and can not seem to find a way out. My loan amount is $500.00 and the fee every 2 weeks is $51.00. The minimum that you can pay on to pay down is $25.00 so with the $51.00 fee, I just have never been able to do that. Is there a way that I can stop this. I pay this man $102.00 a month and sometimes $153.00 a month. I need help!!!


I know that the storefront is legal - I just wanted to know if there is a way to discard the fees and pay off the loan amount. Isn't there some kind of agreement something to propose to the owner of the business?


lrhall41

Submitted by on Sun, 08/02/2009 - 09:02

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I roll this thing over every two weeks. This is the kind where they actually have a check of mine and if I do not come in, they will deposit it and that will cause more problems. I can't afford to pay it all at once, I was just thinking I had read in here something in regards to this type loan and a way to pay out. I would like to get it where the 51.00 I pay every two weeks would go to principle. Do you or anyone else know how to properly do this?


lrhall41

Submitted by on Sun, 08/02/2009 - 09:50

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Its illegal for them to roll over your loan no matter what. Florida strictly prohibits roll overs. They broke the law. You may be able to use that to your advantage. They either give you a statement that your debt has been paid in full, or you tell the attorney general's office about their illegal roll overs.


lrhall41

Submitted by Anthony Lemons on Sun, 08/02/2009 - 10:27

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I am sure that the when the OP uses the term of roll-over, they mean that they pay the loan in full and then take out another loan on the same visit.

As for getting the PDL to settle for something less that the full amount, you can ask. Stranger things have happened, but I would guess that they will not settle for less than the face value of your check.

Depending on the company, if they are legal they have many rights and will use them. Do not make threats that hold no water.


lrhall41

Submitted by PDLOwner on Sun, 08/02/2009 - 10:57

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