Payday loan help requested

Welcome drburr! Someone who can interpret your state laws will be along shortly to help you with getting the process started. I see that you have already listed your state of residence, who your PDLs are with, amounts borrowed and repaid and that they are all internet. That is a very good start. You have done your "homework". Hang tight. Help is on the way.

Well, I am still researching the amount paid. Since the bank account in question was closed awhile ago, I need to go to the bank and request a full statement. The amounts listed are the amount listed on my credit report and the amount of the original loan.

In most cases, I believe I have paid at least the principle, but I will add that in as I can locate it.

Just a quick update, a quick search of the IL DFI shows no licenses for any of the companies listed. Is it then safe to say that none of these companies are located in IL and that I am only to be held responsible for the principle?

The main thing I want here is to have them taken off my credit asap, I actually have no problem with working out a payment plan and actually paying what I am legally and morally accountable for.

I am still waiting on the bank to send me a full statement, but I have decided to send DV letters to the collection agencies on these. The next question I have is, if the CA can fully validate (I used a letter that I found on here as my sample, requesting 13 or 14 different items from them, including license numbers), and then I find that the pdl's are illegal in IL (I believe they are), what would I then do? Offer the Collection Agencies the remainder on the principle to settle?

drburr, I am not sure how that goes. I am assuming that they are asking for more than what you owe on the principal? I guess if I were in that situation, I would send a copy of my C and D letter off to them as an FYI that I only owe x number of dollars and that would be what I am willing to pay. I am assuming that they will come back with the validation of whatever dollar amount has been forwarded to them from the PDL. I never dealt with any third parties with my PDLs. They were illegal here in NY as well but things never got that far. I was able to eliminate them based on their illegal status. Perhaps someone will come along who knows exactly what you can do.

I've never sent a C&D letter to any of them. In all cases, I simply defaulted and either tried to deal with the pdl company or they just sent it straight to collections as soon as I had closed my account.

To the best of my recollection, I have never been contacted by any of the collection agencies (most likely because they didn't have a valid number or address), the lines just appear on my credit. It all sounds very strange, but I am thinking that the CA just stick it on my credit in hopes that I would notice it, freak out, and pay them to have it removed.

I actually have another question posted in the Collection Agency forum here about whether or not they are required to validate, since these are over 30 days old but I do not believe I have ever been contacted.

I finally got access to the online statements from the account that I had closed.

Does anyone know if MTE is affiliated with any of the loans I have posted above? I have some withdrawals from them, and I want to add it to the totals, if any of the debts come back validated.

the top three are MTE.which means they are illegal.you are only
obligated to pay back the principal.the CA is probably unlicensed
therefore illegal too.i doubt they can validate.

Paul, aren't you in IL? (I thought I saw that somewhere on here)

Lisa Madigan pushed something through at the end of last year that states that the collector must validate all debts and (unless I am misinterpreting) removes the 30 day limitation (for the debtor).

Basically, I am sending out the letters tomorrow for validation, then they have 30 days, then, because I am a nice guy, I am sending a second letter allowing them an additional 15 days, then the whole mess goes to the credit bureaus. I am actually only concerned about the Magnum Financial item, as that is reported on all 3 bureaus, the rest are only on my Trans Union report

yes d, iam in IL also,you are also right about ms madigan's push
for the validation in IL.ain't she great,she really fights for our
rights. :D 8)

She is, and it's actually kind of funny to get a really pushy collector. Just let them rant and scream for awhile and the quietly say "You realize I'm in IL, right?" Shuts em right up.

Does anyone know offhand if Preferred Cash, United Cash, Payday Loan Yes or First Cash Financial Services do business as, or are associated with Cashnet or Northway?

I went through my bank records and I can only find deposits by Cashnet, Northway, Magnum Funding, and Cash Advance Credits. The Magnum and Cash Advance ones I can see on my credit. The Northway one managed to slip the Wage Assignment (calling it a garnishment) to my payroll department a year and a half ago, so they got their money (overpaid, but I'll tackle that later). I'm trying to link these companies with the tradelines based on the deposits into that account. If they don't match up, then I honestly do not know what the accounts are.

Also, does anyone have a contact for Northway? The Wage Assignment letter they sent had Cash Transfer Center listed. Due to the Wage Assignemtne, I have overpaid on that one to the tune of $355, and I would like my money back

after further scrutiny none of your pdls are licensed in IL.i would
get an AG complaint against northway aka cash transfer center.
if they got a wage assignment and it was executed and they are still collecting on it.our AG should know this.

They did execute a wage assignment (didn't know I could revoke, it was well before I found this forum), but it was completed in (I believe) either June or July 0f 07.

Who do I send the email to for an AG complaint in IL? I would actually like to get the ball rolling on Magnum and Cash Advance Credits. I owe 455.19 and 160, respectively, on the principles for these two.

I have already sent DV letters to everyone on my credit report, as well as dispute letters to the bureaus. I am hoping I can either get them removed or get enough information from the collection agencies to end run around them and get PIF letters from the originals.

I have a question that is kinda similar... I'm trying to get an apartment. I've never had a credit card or a car payment, and both of my parents are retired. I dont know anyone who makes 4X the amount of rent per month to cosign. All i have on my credit is medical bills. I have had a pay-day loan, and it didn't show up!!! is it not supost to? because it would be nice to have on my account since its a good thing.
please e-mail me
[email]ebsneko@hotmail.com[/email]