PDL Question
Date: Tue, 01/26/2010 - 11:14
With that said, I've been working with a debt consolidation company, closed my bank account and retaken control of my finances which feels great. In mid february I'll have enough funds built up with the debt company to hopefully start reaching agreements to settle some of these PDLs.
Now, when I was younger I got in to a similar mess and ended up getting in to trouble with credit cards. If I remember correctly it was a few months before they even started making threats regarding garnishing wages or anything like that. Today, about a month past when I closed my account and these people stopped getting their money I got a call from a company, that has been told not to call me at work, saying they would be faxing paper work to my HR department to start garnishing wages.
Don't they need to go through a legal process first, receiving a court order to garnish wages? Am I completely wrong on this? Any advice would be great. I'm a lawyer by no means (unless watching so many hours of law & order counts) but from past experience it was a little more complicated process then that.
Thank you in advance to anyone and everyone for their help.
Before you commit to a consolidation company find out if your pa
Before you commit to a consolidation company find out if your payday loans are licensed and legal first. Hiring a company to pay them off if they aren't even licensed will be a waste of time and money! Non licensed pdl's will pretend to negotiate but after every thing is said and done they will come back and try to bite you in the butt! They are nothing more than criminals and no one wants a criminal to have their personal account information, so, please research them first and make sure you are dealing with licensed/legal payday lenders! That's my advice for what it's worth!
PDL's in Delaware
Thank you for the valuable advise I have received in this forum. I have been able to resolve 3 of my pdls. Unfortunately, I am having difficulty resolving two pdls which reside in the state of Delaware. Listed below is an exerpt from the response I received from East Side Lenders.
We did receive your email and understand your concerns, but Eastside Lenders is a legal company. Because we are not in the state of South Caroline we do not go by their state laws. We are in Delaware and go by the Delaware state law. I will provide that to you below. Since you took out a loan with us that would be the law that you would have to go by. It would be the same as if you were going inside a store and getting a loan, you would go by whatever rules or laws that store goes by. We are willing to work with you and even setting up a payment arrangement if you would like.
EASTSIDE LENDERS LICENSE #8673
East Side Lenders is responding to your correspondence regarding the above-captioned account.
East Side Lenders, which is located in Delaware, is licensed by the State of Delaware to make small loans. All such loans are approved and funded in Delaware, with repayment to be made in Delaware. The East Side Lenders loan agreement and website contain all disclosures required by Delaware and federal law and make it clear that all transactions are governed by Delaware law. On the advice of counsel, East Side Lenders maintains that the choice of Delaware law as controlling in the loan documents would be upheld, as all of the significant contacts in the loan transaction occur in Delaware. The loan agreement is legal and enforceable. In responding to your correspondence, East Side Lenders notes and reserves all available legal and equitable objections to the points you have raised.
East Side Lenders provided this service as a convenience to you. We still consider your loan to be outstanding and are prepared to go to arbitration as provided for in the Loan Agreement between us. As an alternative, if you are experiencing financial hardship, we will be happy to speak to you about payment arrangements through which you can successfully meet your payment obligations. East Side Lenders will consider doing so because of our continuing commitment to servicing our customers and not because of a legal obligation to do so.
I have already paid this company $300 on a $500 loan. Additionally My Cash Now, which also resides in Delaware, had a collector call me saying the same information.
Do I have any recourse? Thank you for your assistance.
Quote: We did receive your email and understand your concerns,
Quote:
We did receive your email and understand your concerns, but Eastside Lenders is a legal company. Because we are not in the state of South Caroline we do not go by their state laws. |
BUT, because YOU aren't in the state of Delaware YOU DO NOT go my thier laws.