Help!! PDL Fraud Question

i believe payday loans are not legal in your state, which means you are dealing with illegal lenders. someone please correct me f i am wrong. but if they are not legal, than they do not have any say in any court.
after you default, send out the letters and request a physical address to make payments for the principal amount borrowed only.
there is a link here dealing with illegal lenders but i am not 100% sure about your state's laws. The loans will tell you that you have committed fraud but if you planned on paying this all along and something else came up, i think you are fine. :) others may not agree with me, but if i were you, i would just concentrate on trying to pay them back.

Just to be sure what are the names of the pdls?

AAA Payday
Cash Jar
Discount Advances
United Cash Express
500Fast Cash
Ace Cash Services
500Fast Cash
The Loan Shop
GECC
Payday-Loan-Yes
DMA II

You took out 11 loans , closed your account and made no payments????? WOW

I would ignore that last comment, we are not here to judge you, we are here to help you pay what is morally owed to the companies :)
Just by looking over the companies, I do not think any of these are legal.. I am sure someone else will help me with that. My sister is dealing with Cash Jar and she said they were pretty understanding and allows her to make small payments. You can pay these back on your terms, as they had no buisness even doing any kind of buisness.

go to the scond sticky on this forum.it will tell you how to deal with illegal lenders.we can help from there.

How much did you borrow from each, when did you borrow and have you paid anything by way of fees to any of these companies?

I believe that the op stated she did not pay anything to any of the lenders. What are the ramifications due to closing the account before paying. It looks like they were taken out with the intention of closing. I hope that was not the case, and the op will repay as they said they would. I know we have all fallen prey to this and I hope we can offer sound advice to help the poster

well the op did say that the account was compromised.i understand,but let's not jump to conclusions.

I saw that about the account, but I also saw that they borrowed money from 11 PDL's (I believe) and now before they have even paid one single fee they want to make payments on all of these. If the average IPDL is $500 (just an estimate), that means that they borrowed $5500 in the last 2 weeks and now wants to use the information that we provide to get out of paying anything back other than the principal. I understand that the lenders may or may not be licensed in CT, but that is not the issue. The issue is that we try to help people get out of bad situations, not capitalize on our efforts.

$5000 with no payments!!! You can spin it as you wish, but the guest's comment was spot on 99% of the time. If I missed something, I apologize.



To the OP,

Good luck with your situation. There are others that will give you good advice and the benefit of the doubt....

true,but i'm reserving judgement.let's see what the op does with said information first.

Yes, but we are seeing WAY to many posts like this in the last month or so!!

yep i know it does sound fishy,but if that is the case it will come out eventually right?so far the op has not given any indication yet.let's see how they respond to our give and take.

i do agree that it sounds bad but i really do not want to judge. if the op takes our advice, than s/he will be on the right track and everything will be paid, as it should be.

Geez what is going on in here :shock: I hope we did not scare off the OP!

Anything could have happend in this situation. Lets see what we can do to possibly help. I hope the OP returnes to provide more info :?

Quote:

I found a post from the OP earlier this week that shows the amounts borrowed:
AAA Payday - $1000 total, loan is $800
Cash Jar - $1031.50 total, loan is $825
Discount Advances - $803.25 total, loan is $680
United Cash Express - $520 total, loan is $400
500Fast Cash - $520 total, loan is $400
Ace Cash Services - $390 total, loan is $390
500Fast Cash - $520 total, loan is $400
The Loan Shop - $650 total, loan is $500
GECC - $556 total, loan is $400
Payday-Loan-Yes - $440 total, loan is $350
DMA II - not sure original loan amount, fees are $165 every other week.

I would say that is quite a bit, and she has a LOT of work ahead of her! My advice to you is to get all your ducks in a row, and contact these companies ASAP. They aren't the most polite people in general, but I am unsure how they feel when a customer hasn't paid anything. Legal or not in your state, it's a moral obligation to pay back the principal amount. Good luck in your endeavor!!

you see.that is where we come in.the way they posted they sounded like they didn't pay,but they were caught up in the notion that the fees didn't count.they overpaid on everyone if the numbers on the left are accurate.

Are taralaroux and the guest one in the same? I ask because tara specifically stated that she has not paid anything on them yet. Some of the amounts in the first coulmn look like total owed for the loan amount in the second column.

Can we get clarification from tara and/or the guest?

i agree, the op might have meant that they only paid fees, i am also confused

I intend on paying ALL the lenders back the principal and yes our checking account was compromised so we had to close the account out. I realize that it looks back but as I already stated in my original post, I intend on paying ALL lenders back. I did pay on some of the loans, just not all of them. One of the loans, Ace Cash Services, I never signed anything from them, electronic or otherwise.

And no, I am not the Guest poster.

The second amount is the principal which is what I intend on paying back in full to ALL lenders.

taralaroux, i am glad you came back :) did you send the letters out yet?

The amounts are what the loan was for and what it would be with fees. Nothing has been paid yet.
A 400.00 loan carries 120.00 fees total is 520.00. What letters should be sent if she paid nothing towards the loans. I am confused. Should't something be paid

Paulmergel
nothing was paid on these.
Loan amount and fee amount equals the total that should be paid.
We were right as you were, nothing paid yet

No, not yet. I planned on emailing all of them today.
I closed our checking account or at least tried to last week. On Friday, our direct deposits from our jobs went through into the closed account and all the fees were taken out as well. I called the bank and they reversed all the PDL fees and moved the direct deposits to our new account. Today, ANOTHER PDL withdrawal was taken out from AAA Payday and I honestly have no idea why when they already took out money on Friday - yes, I know, that Friday payment will be returned. The payment that was taken out today was not because the payment on Friday was sent back. I would imagine that the PDL companies don't even know that all the charges have been returned as I haven't received any phone calls yet.
Should I still email those letters or wait??

I DID pay on some of these loans, not just all of them.
So if I intend to pay all the principals back, you're saying that I am going to be arrested for fraud?

First you said you paid nothing, now you say yo paid some.....
Whatever, you will not be arrested for fraud. You will not be arrested for anything. Do not worry about that.

I apologize about the confusion. Some loans were paid on but most were not.

It was never my intention to not pay these loans off. Things started being withdrawn out of our checking account that we did not authorize. We went to our bank and asked them if we could stop all ACH transactions and they said the only way they could do that is to close the account so that is what we did.
I realize some of you think this was all premeditated but I can assure it was not.
I do have to say that you all now have me worried that we will be arrested for fraud because some of these loans have no payments towards them and I closed our checking account out to prevent further fraudulent action.

Tara

You still have not listed who the lenders are, how much you borrowed and how much you have paid in fees to date...

PDL Owner
All of that is listed above I think. But it looks like nothing was ever paid. It changes post to post

You will not be arrested for fraud. You were already told that in a post above. It does seem a bit odd that all of there were taken out in a 2 week period, account closed and nothing paid.
Whatever, you need to pay back what you borrowed.

So, when do you plan on making pay arrangements

Who are you??? Tara or Guest?????

guest is answering tara

I am going to send out the emails to the PDL companies today and once I get a physical address for payment, I will start sending them their money.

Thats great Tara. Good luck to you

Tara you are doing a great job! Dont let anyone intimidate you and keep us posted of your progress :wink:

Well, I received my first threat of being arrested by Payday-Loan-Yes.com. I sent them the cease and desist letter and it was as if they did not read any of it. They replied by saying my email doesn't forgive the debt or absolve me from paying back the loan - NO KIDDING! That's not what I said to them at all. I told them lending in my state of illegal and I wanted a physical mailing address to send payment. This is what they said about where I live being meaningless:
Governing Law
"Both parties agree that this Note and your account shall be governed by all applicable federal laws and all laws of the jurisdiction in which the LENDER is located, regardless of which state you may reside, and by signing below or by your electronic signature, you consent to the exclusive exercise of regulatory and ad judicatory authority by the jurisdiction in which the Lender is located over all matters related to the Note and your account, forsaking any jurisdiction which either party may claim by virtue of its residency".

All the other lenders have been surprisingly decent - so far. I am sure as time goes on and they don't get all their money as quickly as they want it, they will get nasty.

they might not get nasty tara, some places are happy as long as the money is coming in.
keep trying with payday-loan-yes and do not cave in until they meet you on your terms.

Eastside Lenders sent me the same crap. If you go to the CFA website, it plainly says that loans are governed by the laws of the state of the applicant.

got the same idiotic e-mail from paydayloanyes.that is what all illegal pdl's resort to.