I need advice on loan with illegal pdl
Date: Fri, 12/12/2008 - 05:36
I have four payday loans, all illegal. I live in Maryland and payday loans are illegal here. I have paid money on two of them and two of them I haven't paid anything. I already contacted someone at the Maryland Office of Financial Regulation and she told me contact her if any of the companies try to send me to collections. I also already sent out my cease and desist letters (at least 3 to each of the companies but they ignore them).
So that is the backstory, my actual question is about a phone call I got yesterday. Initially I set up a payment schedule with one of the companies called Outback Bucks saying I would send in money orders, but I am not in a position to send them anything, because my other bills are more important. The manager called me yesterday asking why I didn't send in my payments and tried to explain it to her. I got a little frustrated with the conversation and I basically told her that since the loan was not legal I don't have to pay them anything. At the end of the call she told me that the call had been recorded and she was going to forward my case to the fraud department. My question is can they do anything to me, even though they are lending illegally, since they have recorded me saying that I have a loan with them? I plan to pay them back eventually since I know that is the moral thing to do, but I am not in a rush because other things are more important right now.
Thanks in advance for any help.
reply
they really can't do anything as they lent you illegaly.be prepared for threats and verbage like that from all four at some juncture.just contact the lady at the office of financial regulation about your talk with OUTBACK BUCKS.you are right pay them when you can,not when they say to.
Payday loans are not legal in my state and most companies were p
Payday loans are not legal in my state and most companies were pretty good at accepting a little at a time until the principal was paid. good luck, i know it's all going to work out :)
Pay day loans
The right thing to do is to repay the principle. If not in full do it in installments and keep track of what you have paid. Payday loans are illegal in Maryland and they are not allowed to solicite, take applications or lend to Maryland residents. YOu will be fine.
