PDL Help in Tennessee
Date: Wed, 10/24/2012 - 22:40
Hello! My husband and I are in PDL hell.
My husband has two loans:
Mobiloans
Borrowed: $700 total
Paid to date: $735
Plain Green Loans
Borrowed: $2000 total
Paid to date: $2043.06
I have one loan:
Plain Green Loans
Borrowed: $750 total
Paid to date: $295.20
We are located in Tennessee. Are either of these two companies legal? What do we need to do to get out from under the high interest payments. Also, I am willing to pay the company the rest of the principal payment that I owe.
Thanks in advance!
My husband has two loans:
Mobiloans
Borrowed: $700 total
Paid to date: $735
Plain Green Loans
Borrowed: $2000 total
Paid to date: $2043.06
I have one loan:
Plain Green Loans
Borrowed: $750 total
Paid to date: $295.20
We are located in Tennessee. Are either of these two companies legal? What do we need to do to get out from under the high interest payments. Also, I am willing to pay the company the rest of the principal payment that I owe.
Thanks in advance!
All the lenders you mentioned are illegal lenders in TN. Your hu
All the lenders you mentioned are illegal lenders in TN. Your husband needs to stop paying on his two loans as he has already overpaid. As for your loan, pay them nothing more than the principal. Both of you need to send out copies of ACH revocation letters to the lenders and to your respective banks. You can then go ahead and repay the principal balance ONLY using a prepaid debit card or money orders.
DO NOT give them any card/banking information. Remember: Legally, you owe these people nothing. Morally, just the principal balance which you are free to repay as and when you wish, completely at your own convenience.
