3 PDLs, need advice

There are quite a few members here who have all information regarding these companies. They will be by shortly to give you great answers. Keep checking back. Welcome, by the way.

Hi Alie-
With regard to PA law, if the PDL is licensed in any other state, they can lend to PA residents.

You said your account was closed and you reopened a new one...are the PDL's debiting from your new account?

They can if she inadvertently signed an o.k. to debit from any account that she has, in any bank. Its usually in small print. If there wasn't this forced agreement, then she may have opened a new account in the same bank as the old/closed account.

Oh yea I've seen that before, and I think I was just wondering if she/he actually gave the pdl's access to the account like gave them the new account info.

If they arent debiting the new account (or any account) then she can control her $ at least.

Alie-How much have you actually paid these 3 you listed? I see the loan amounts and the interest debits, but how long has this been going on for?

I do know that Little Loan Shop and 500FastCash won't be licensed. I'm not sure of PayDayOne.

You mentioned "that Little Loan Shop and 500FastCash won't be licensed". What does that mean and does it help me?

All told I have paid $540 to PayDayOne and $360 each to Little Loan Shoppe and 500FastCash. (It makes me sick to look at those numbers!)

I had to close my bank account because someone was withdrawing funds from my account w/out my consent. Somehow my account number had been stolen.

While I was in the process of changing accounts (using the same bank) Pay Day One attempted to process a payment but it was returned, so it appears they do not have access to my new account and I have not given them the new #. I do not know if the other 2 had clauses in the contract for access to any accounts of mine.

alie, when I say that the Loan Shop and 500FastCash are not licensed/legal, yes, this does help you. You reside in PA where pdls are prohibited. However, PA will "allow" an internet loan if the pdl is licensed SOMEWHERE. If the pdl is not licensed SOMEWHERE, then it will be considered an illegal debt in your state. The two I mentioned are not licensed/legal. So they would be considered illegal loans. PayDayOne, I'm not sure if they're licensed SOMEWHERE to see if your state will "allow" it. I can check on that, unless someone gets to it before me. But, let me tell you, that if the pdl is licensed SOMEWHERE, you would have to abide by the state pdl law where the pdl is located. However, this doesn't matter for you on at least two. I can check on the other. Does this make any sense? Post any questions! :D

Payday One is licensed in just about every state it lends in. They are lending in PA under their Deleware license.

Thank you, goudah! alie, since PayDayOne is licensed, you will have to abide by the pdl law of Delaware, okay? If you need this law posted to be sure they are following it, please post. We can help you further.

Wow. It never even occurred to me that they might be illegal. Since 2 are considered what can I do? Can I refuse to pay more than what I originally borrowed? What is my next move? Do I contact them? Refuse to pay any more?
I'm think I handle just paying PayDayOne but all three together are killing me!totally draining me.

Alie: Some members take a different, moral view when it comes to illegal payday loans, but I tell everyone to not pay back a dime to an illegal payday loan company. To pay back is like rewarding them for being crooked. Thats my moral stance in regards to these unlicensed companies. The choice is yours.

alie, you need to focus on your PayDayOne pdl since they are licensed/legal. The other two, put WAY back on the back burner. Now, we do have a letter you can send to your pdls. All of them. In order for us to send you the "example letter", you will need to register and become a member. We can then pm (private message) to each other and I can send you an "example letter" to send them. They can't get your money any more since your account is closed. Good. However, focus on the legal one. You will have to pay according to the Delaware law on that one. The other two can basically go to hell, but we can send them a letter stating that. You do need to file complaints on the illegal ones with the BBB, the FTC, and your state AG. Just post if you need the Delaware law posted for you (or you may already know it) so that you'll know how much to pay PayDayOne. Also, go ahead and register as a member and then we can "pm" each other. Okay?

Thanks!
Since PayDayOne is legal does that mean I have to pay the late fees, services charges, etc. that I owe too

Will these companies work with me to arrange alternate payment methods i.e. payments on other dates than the pre-assigned ones, or payments via money order since I do not want to give them my accoutn info anymore?

FYI, the invesitgator at my bank thinks it is highly likely that my account info was stolen from one of the databases or possibly an employee at one of the PDL companies I ow.

Usually it's an uphill battle to get the pdl's to agree to payment terms other then what's in the contract. But what you can do is just send them a payment every month, with a letter outlining your plan. They will usually cash the money order.

And, yeah, since Payday One is legal, and operating under DE law, they are within their rights to charge you what they are. DE has no cap for interest rates . . . .

Thanks, goudha. I know they won't be happy about it, but I plan to paying what I owe to PayDayOne and following the rules since they are a legal lender.
But I also need to be able to pay my rent, car, insurance, medical, etc. and if that means PayDayOne gets less than what the want, I'll have to deal and so will they.

alie, as you can see Delaware is "pdl playground", they have crap for pdl law. I'm posting the Delaware law for you to see what you have for PayDayOne. It's crap!

You will find the Payday loan laws for Delaware here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

I have manged to get PayDayOne to work with me (sort of). They are accepting money orders because I won't give them my new account numbers.
500fast cash and Little Loan Shoppe have started calling demanding payment. What do I tell them?

alie, if you have any questions with the pm's, just let me know. :wink:

I have a loan through little loan shoppe too and am wondering what it means when they say they aren't licensed. Any answers.

t, that means they are not licensed/legal to do business. They are lending illegally.

I sent all of my letters out and sent emails to the ones that i had email addresses on. Haven't heard anything back yet, but i guess i should give them some time. It felt so good to mail those letters out and take back control of my money. Thanks for all your help.

t, give them time. They will swoop like vultures. God love them. If you get anything "nasty", just let us know and we can help you out.