How do you get out of the PDL Trap??
Date: Wed, 06/23/2010 - 12:51
I've got 5 PDL loans totaling about $1700 that I actually borrowed, but after fees I'll end up paying back over $3000!! It of course started with one, then another and another because I'm paid based on commission and if anyone out there is in sales, you know how hard the economy has hit our wallets.
Sonic - loan amount $770 / in default now and owe $1028
OneClickCash - loan amount $300 / balance $390
AmeriLoan - loan amount $300 / balance $390
VIPLoan - loan amount $300 / balance $345
FirstBankof Deleware / loan $500 / payoff in 6 payments to total $912
I live in NC - and it's PDL's are illegal here. But after doing some research - I don't think most of these companies are even in the US and when reading the fine print some even say that the laws of "there" domicile apply, not where the borrower lives.
Has anyone worked with these companies and had any luck dealing with them? I'm considering using Relief, LLC to consolidate, but you have to pay them $100 up front and a membership fee of $29.99 for the first 5 months of the program. That seems a bit shady to me...
Any advice??
Sonic - loan amount $770 / in default now and owe $1028
OneClickCash - loan amount $300 / balance $390
AmeriLoan - loan amount $300 / balance $390
VIPLoan - loan amount $300 / balance $345
FirstBankof Deleware / loan $500 / payoff in 6 payments to total $912
I live in NC - and it's PDL's are illegal here. But after doing some research - I don't think most of these companies are even in the US and when reading the fine print some even say that the laws of "there" domicile apply, not where the borrower lives.
Has anyone worked with these companies and had any luck dealing with them? I'm considering using Relief, LLC to consolidate, but you have to pay them $100 up front and a membership fee of $29.99 for the first 5 months of the program. That seems a bit shady to me...
Any advice??
Oh wait, the First Bank Of Delaware is not a payday lender, they
Oh wait, the First Bank Of Delaware is not a payday lender, they are an installment loan lender, so they are legal, just make payment arrangements with them, send their payments via the mail with money orders.
It is very important that you close your account, it will never be safe again.
Can you help me find the sample letter to send to stop ACH withd
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