Summit Group and NorStar PDL's. Please help!
Date: Wed, 06/10/2009 - 11:03
Hello Everyone,
Just started reviewing this site. I have found some incredible information and advise but I am looking for specifics regarding Summit Group LLC. My husband took out a PDL with Norstar and Summit Group back in April each for $300.00 and a finance charge for $ 90.00. Since then we have paid that amount to both but they have "rolled-over" the loans. I emailed Norstar as it is illegal for them to loan to California Residents and all we legally owed was the princle balance which we paid. I have looked at forums on Summit Group and it seems they are emely nasty to deal with. They sent us a statement last week stating we owe $180 in finance charges and a full loan balance of $480.00 this is on top of the $390.00 they have debited for our account to date. We have paid exactly what was borrowed as well as the finance charge so i would like to stop this before paying more like so many poor people were stuck doing. I am looking for advice on how to deal with them. Thanks!
Just started reviewing this site. I have found some incredible information and advise but I am looking for specifics regarding Summit Group LLC. My husband took out a PDL with Norstar and Summit Group back in April each for $300.00 and a finance charge for $ 90.00. Since then we have paid that amount to both but they have "rolled-over" the loans. I emailed Norstar as it is illegal for them to loan to California Residents and all we legally owed was the princle balance which we paid. I have looked at forums on Summit Group and it seems they are emely nasty to deal with. They sent us a statement last week stating we owe $180 in finance charges and a full loan balance of $480.00 this is on top of the $390.00 they have debited for our account to date. We have paid exactly what was borrowed as well as the finance charge so i would like to stop this before paying more like so many poor people were stuck doing. I am looking for advice on how to deal with them. Thanks!
If you are in California, I don't think that Summit Group LLC is
If you are in California, I don't think that Summit Group LLC is licensed there. I checked the licensed database of CA "http://www.corp.ca.gov/FSD/licensees/default.asp" and did not find them. So they must be illegal and you need to pay them only the principle amount borrowed and not other charges.
