Hi everyone,
I was doing research on Payday Loan settlement. I was drowning in Pay Day Loans so I signed up with a Pay Day Loan Settlement company. I really wish I made my way to this forum sooner!
All of my loans are illegal in Massachusetts:
North Cash
Lendgreen
Greenline
Big Picture Loans
American Web Loan
After I signed up with the settlement company they went ahead and sent out all the cease and desist letters, the revocation of ACH etc. All of the payments stopped. I realized after I forgot about 2 loans I hadn't included: Spot Loan and Amplify Funding. So my research brought me here and I emailed them both yesterday to stop the ACH withdrawls and I also emailed that they are illegal. I got a reply from Amplify saying they are a tribal lender and state laws dont apply etc. Now this has me thinking. Do I even need the Settlement company? I could probably do this on my own? I figured out I have overpaid with Lendgreen and sent them an email yesterday. Haven't heard back, but not sure I will since I'm with a settlement company. Now, I don't know how to get out of the settlement company contract. I've only paid 1 payment to them. Any advice? Should I stay with them or would I be better off doing this on my own?
Thank you in advance!
Sub: #1 posted on Fri, 08/03/2018 - 05:50
(Posts: 1234 | Credits: )
So they settlement company takes 20% of all the debt I owe as their compensation. What is crazy is I'm not sure they would have gotten Lendgreen to agree to close the account and I wouldn't have to pay...I would have paid that unnecessarily and also paid them their 20%. Now I'll just wait to see if I get my first payment back that I already made to the settlement company. They said the refund would take 30 days and the amount would be less "administrative fees". Oh well, I think I'm on a much better road thanks to all the info here! THANK YOU!!!
Sub: #2 posted on Fri, 08/03/2018 - 08:24
(Posts: 4 | Credits: )
I hope you'll be out of your debts very soon :)
Sub: #3 posted on Sun, 08/05/2018 - 23:29
(Posts: 432 | Credits: )
Sub: #4 posted on Mon, 08/06/2018 - 02:19
(Posts: 425 | Credits: )
Sub: #5 posted on Tue, 08/07/2018 - 15:13
(Posts: 4 | Credits: )
Sub: #6 posted on Fri, 08/10/2018 - 06:16
(Posts: 1234 | Credits: )