Should I not use a Payday Loan Settlement Company?!
Can you afford the principal
Can you afford the principal amount you owe? If you can, then pay and relax. If you can't pay off them you can approach the settlement company to pay off your payday loan debt.
Submitted by Sanders Patricia on Fri, 08/03/2018 - 05:50
Thank you!! So I decided
Thank you!! So I decided yesterday to cancel my plan with the settlement company and try this on my own. After thankfully finding this forum and doing research, I thought I could do their work for free and save myself 20%! My first email went to Lendgreen...I told them they weren't legal and that they actually owed me a refund. To my complete shock after reading the part of the email where they are tribal and don't follow state laws...blah blah... the end said that as a courtesy they have accepted the payments I have already made and I now have a zero balance. I'll be keeping that for sure if I ever need it! So I went ahead and sent similar emails to all the rest. So thankful I found this forum!
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!!!
Good work Karen. you are on
Good work Karen. you are on the right track. You don't have to a single dollar more to the illegal lenders. Now negotiate with all of them one by one.
I hope you'll be out of your debts very soon :)
The settlement company would
The settlement company would have done the same thing that you're doing. Nothing special. Read the sticky threads. You'll get tons of information. More power to you. All the best!!!
Thank you so much! I have
Thank you so much! I have received emails from all Payday Loan Lenders that they have closed all loans and are listed as paid in full. Makes me wonder if the settlement company would have done that and I wouldn’t have had to pay. I think they would have just settled for less so they could also get paid instead of me not having to pay any more since they were all illegal and over paid. So happy I found this information before I was put any other money!
Great news! Yes, since they
Great news! Yes, since they are illegal, you don't have to pay them. Okay. do visit our forums again for more insights!
Submitted by Sanders Patricia on Fri, 08/10/2018 - 06:16