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Need Help with PDL,s please, in over my head

Date: Wed, 05/19/2010 - 11:11

Submitted by anonymous
on Wed, 05/19/2010 - 11:11

Posts: 202330 Credits: [Donate]

Total Replies: 8


I currently have 4 of these PDL's out and this is my first go around with anything like this and I'm way over my head. Here is the info I think you need, any help would be greatly appreciated!

ace cash-original amount $350, have paid $180
ameriloan-$400, have paid $90
northway financial-$300 paid $300
cashyes- $575 paid $148

Live in the state of maine


Were any of these lenders storefronts? I can find ace cash listed in Maine's licensee database, but not the others. The first thing I recommend is to check out your lenders and make sure that the loans are legal. Ameriloan has already been cited by Maine's office of consumer affairs for offering illegal loans to Maine residents. If they are illegal, then you only have to repay the principal.


lrhall41

Submitted by OVLG Attorney on Wed, 05/19/2010 - 11:36

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They were all internet no storefronts. Just noticed the ace cash, was actually ace cash services. Who would I contact to find out if they are illegal? Also if I close my bank account and open another one, I'm still going to owe them money and I'm sure they will start calling me and so forth. I'm probably nieve here but could you explain to me what that would accomplish, seems like it would just cause more headaches.


lrhall41

Submitted by on Wed, 05/19/2010 - 12:32

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Quote:

Originally Posted by Ian Campbell
So as far as I can see none of these companies are licensed in maine, does that mean they are illegal and I should only have to pay back the principal?(even though I have already payed a hefty interest fee)


not only that,but anything in so-called fees goes towards the loan
example:

you borrow 300.00
they debit 3 90.00 fees
you only owe the illegal pdl 30.00

see what i mean?


lrhall41

Submitted by paulmergel on Wed, 05/19/2010 - 14:21

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