Idealgelt PDL-Alliance Asset Management
Date: Thu, 06/17/2010 - 09:16
I recently paid off 5 PDL's and am currently disputing one from Oneclickcash. Other than that, I was all paid up...or so I thought. I had completely forgotten about a loan of $500 that I had borrowed from Idealgelt, right before I took control of my financial situation. I think I forgot about it because they have virtually disappeared. I never heard from them after they deposited the funds, which would have been at the end of March.
Today I received a letter from Alliance Asset Management who said they now have my debt and it has gone from $500 to $825! The form letter looks very shady and I'm not sure how to respond. Should I attempt to set up payment arrangements directly through Idealgelt? They were very hard to reach when I was waiting for my loan to be approved. I want to pay the principle off but it will be a slow process as I literally emptied my accounts to pay off all these outstanding PDL's.
P.S. This forum has been so amazing! I fell into the PDL trap and was in WAY over my head. The guidance I received here was so wonderful and I greatly appreciate it!
I'd suggest first that you should confirm the legal status of th
I'd suggest first that you should confirm the legal status of this lender in your state. You can check out the pdl laws of your state here.
You may also draft a debt validation letter for Alliance Asset Management.
I am a little confused as to how to tell if Idealgelt is legal i
I am a little confused as to how to tell if Idealgelt is legal in Arizona. Also, the debt validation template starts out by saying I noticed the collection agency on my credit report. As far as I know, it is not on my credit report. I just received the letter from Alliance Asset Management, which looks very strange.
Idealgelt PDL is not a legal lender in the state of AZ.Did you r
Idealgelt PDL is not a legal lender in the state of AZ.Did you receive a letter of collection via the mail or email, from this collection agency? Sample debt validation letters are at the link below, you need to send it certified, return receipt requested or it will bear no weight in a court of law.
http://www.debtconsolidationcare.com/letters/sample6.html
Just edit the letter to suit your needs, you can remove the parts that don't pertain to you and add more information to suit your needs. Make sure you include the fact that Idealgelt is NOT licensed to lend in your state, which is a requirement, therefore making the loan illegal.
Thanks for checking on that! I applied for and received the loan
Thanks for checking on that! I applied for and received the loan in March, does that change anything or were they still illegal back then? I know AZ law has changed recently and wasn't sure if that pertained to Idealgelt.
The letter from Alliance Asset Management came via regular US mail. It was somewhat of a surprise, because when I was slightly behind in my payments, Cashjar sent me a certified letter immediately. I haven't heard a peep from Idealgelt since I had the loan approved. I will sent the debt validation letter on Monday, via certified mail with a return receipt requested.
Thanks!