remember after closing bank account!!!

Pay day loans are "real debts" You still owe what you borrowed. Legal or not , you got the money and used it. You are intimating in your last paragraph that these are not real debts.

Quote:

Intimate \In"ti*mate\, v. t. [imp. & p. p. Intimated; p. pr. &
vb. n. Intimating.] [L. intimatus, p. p. of intimare to
put, bring, drive, or press into, to announce, make known,
from intimus the inmost. See Intimate, a.]
1. To announce; to declare; to publish; to communicate; to
make known. [Obs.

well then what about pdls in states where they are illegal would they then still be "real debts"?

:lol: :lol: :lol:

I believe that yes, they are still real debts. All of my 8 were illegal, but I did consider them real debts and paid each one what I borrowed.

Well if you have borrowed money even from an illegal PDL you should still give that amount you borrowed back. I don't say you should pay the crazy fee's or the interest but you did take their money and pretty much tied it up on them so you should pay it back and be done with them.

The problem is how do you get them to just take the principal back and not harass you on the phone or by email or calling work or your references for the next year? From all I have read the C&D letters are pretty much ignored by the illegal lenders even if your in a state that won't allow them to collect from you.

The original Creditor does not have to abide by a Cease and Desist. That is for third party collectors according to the FDCPA. This is why most companies will continue to call and harrass you. However, there are specific limitations (ex. place of employment harrasment, etc..) taylored specifc for each state that are outlined for Debt collectors to follow. You can call the FTC to get more information on this when dealing with these companies.

argh - i re read my original post and see how if you dont know me or my mannerisms how that could be interepreted. The ones I dont consider "real" debts are the ones who will not honor an ach revoke, c&d, revoke wage assignment, and who after you have paid over 900.00 on a 300.00 loan, still insist that you owe them 390.00. These are the type people who have changed my definition of a "real" lender.

I am not happy i owe paydayone, but i do have to brag on them. They are a "real" pdl. They are legal and licensed in my state. They honored the revoke ach and the c&d. I did not have to send them a debt validation letter, because everything was available to me. They call me one time a day and have told me that they have to until a concrete payment agreement with dates and amounts is agreed to by both of us. I dont like it, but thats my problem because i do owe the money. They never have been rude or unethical. That is a "real" debt to me.
I dont mean to irritable, but lets not pick each other apart. Arent the pdls doing that enough? I simply wanted to remind folks to not make a bad problem worse by bouncing phone, car notes, or power bills.

no need to explain shmlt.i got the jist of what you posted.we all advocate paying back what was borrowed.i too don't consider a 300.00 pdl that debited 900.00 a "real debt".i consider that the pdl owes me 600.00.the pdl's don't see it that way though.that is why this great site exists.

Agreed!

Shmlt said "recurring payments" and was referring to automatic payments - those that are set up via online banking or automated billing for a preset amount to be paid to a company on a particular date every month. For example, many insurance companies allow this as a customer convenience.
How did anyone manage to confuse these with "payday loans":?:

Well what about all the debit transactions they made from my account before I closed it?Now they want to say I owe them $1500 fro a $300 pdl loan?

Also if they with drew biweekly $90 from my account for 2 months,why do I owe them now $1500?Shouldn't there be money taken of from the $300 that the original loan amount was for?