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Payday Loans

Date: Fri, 05/21/2010 - 23:25

Submitted by anonymous
on Fri, 05/21/2010 - 23:25

Posts: 202330 Credits: [Donate]

Total Replies: 7


Hello.

Here is a breakdown of my payday loans:

~ Emerald Marketing, borrowed $600.00, have paid $825, email sent req. PIF
~ Elastic, borrwed $1,400.00, paid $1,462.50
~ CMG, borrowed $300.00, paid $270.00
~ National Group, borrowed $300.00, paid $270.00
~ Prestige Marketing/Vince Enterprises, borrowed $300.00, paid $270.00
~ Payday1/Solomon Finance, borrowed $600.00, paid $1,020.00, sent email req. PIF & refund of $210.00
~ Think Cash, borrowed $2,300.00, paid $2,793.66
~ Greenlight & "Goldmine" (same company I guess), borrowed $1,925.00, paid $4,088.50, sent letter req. PIF & refunded of $1081.75
~ Store Lenders (I know these are legal, so I will pay them off over time)

I have already started taking some action on these loans.
Thing is, I left my bank account open.
I am not sure if I have time to change my direct deposit right now, plus I am super scared they will start calling me at work and harassing me. I work for a small company. I also have those India scam artists calling me (at work) saying I owe on a loan for a company that doesn't exist (I know it's a scam, I am current on all of my loans).

Also, on all of my letters (whether electronic or postal service, I copied the BBB and MN Attorney General's office, and it shows on my letter).

I have already started to take some action, wondering if I should change my direct deposit to new bank (I already have 2 bank accounts, one has been for secondary reasons, but I could change it to my primary).

I am in a position to pay the ones off in full mid June, I wonder if 2 weeks to pay them off is enough to satisfy them in between, without harassment???

Also, has anyone ACTUALLY gotten a refund from these? I never heard of that before. I just always thought you had to take it in the a** from these people.

Any advice you have would be greatly appreciated.


What state are you in?

Honestly, you put the cart before the horse.

You should have closed your account first before you "took any action"! Would you clarify what type of "action" you actually took? If you sent letters to them stating you are aware they aren't licensed, then you should RUSH to your bank and CLOSE IT NOW! Those lenders will wipe you out as soon as they even suspect you have realized their legal status.


lrhall41

Submitted by Shazzers on Sat, 05/22/2010 - 04:44

( Posts: 17344 | Credits: )


1. Emerald Marketing, borrowed $600.00, have paid $825, email sent req. PIF
2. Elastic: Still owe. They are legal, so will pay off in installments.
3. CMG: Waiting response to my PIF request, but it appears they are going to comply.
4. National Group: Received PIF
5. Prestige Marketing/Vince Enterprises: Received PIF
6. Payday1/Solomon Finance: Received PIF. No reference to refund I requested. Will accept PIF.
7. Think Cash. I know they are legal, so will pay off over time.
8. Greenlight & "Goldmine" (same company I guess): Received PIF & REFUND!!!

Thanks to this site and the laws in my state (which I was made aware of from this site), I received 7 PIF's in about 3 weeks time, and a refund (which by the way, took a little over a week to receive, not bad at all!!!).

Thank you for all of your help.
I feel like I can breathe again. Feels Unbelievable.

Although some do not agree, I think it actually helped me to start working with each company before even touching their nasty collection departments. Everyone I dealt with was prompt, courteous and easy to work with. Only received 1 phone call at work, asking basic info. what was going on. Very pleasant conversation. By the way, I only asked for refund on those which were excessive. I wanted to be a responsible borrower and try to make outcome positive for both lender(s) and myself. That strategy totally worked for me.

Wish everyone the best of luck!!!


lrhall41

Submitted by on Sat, 06/19/2010 - 17:46

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To respond to Shazzers reply (sorry, I just reread your reply). I could not close my account as it was in a negative status. I am closing it after I can make it positive (end of month). Called the bank and explained to them what was going on, and they were very helpful.

I did open a new bank account, so I can pay bills without worrying if one of them is going to come and yank more money out of my account.

What I did (I was up til 3am on a Friday night, about 3 weeks ago, but it was completely and absolutely worth it!) was write letters to all of my lenders, and send it to them via email (with a pdf attachment). I copied the BBB and my states attorney general (cc on bottom of letter).

I heard back from all lenders, except one, but they have not deducted a fee from my account since I sent the letter, so I am assuming that one is paid in full.

I feel I received a fairly quick response from everyone, and was surprised at how pleasant everyone was to work with.

I only had 3 companies debit my account (They were fairly new, so I wanted to wait to send them letters until I had paid more than what I borrowed, to be fair) and had returns due to NSF. I contacted them the same way, asking for PIF status, with same letters I sent initially to other lenders. I informed them of the returned items they would be receiving, and they were fine with that (I informed them prior to returns). I am still waiting to hear back from one of the last 3, but I think it will go in my favor. I paid all of those $60 more than I borrowed ($60 to each of the last 3).

It took a lot of time, I was stressed about how they would react but it all worked out well for me.

Thank you again for this site.
My results were amazing.


lrhall41

Submitted by on Sat, 06/19/2010 - 17:56

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