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Past and current PDL advice

Date: Wed, 12/26/2012 - 11:18

Submitted by Mistic
on Wed, 12/26/2012 - 11:18

Posts: 11 Credits: [Donate]

Total Replies: 1


I am caught in the cycle owing numerous PDLs and have been trying to pay them off. In some cases I pay off current loans in full only to have to re-borrow to pay basic bills. I am stuck in an endless cycle of paying interest rates which are outrageous. I live in NYS and now realize that these loans are illegal and that I owe the principal on each and not the excessive interest. The question I have is that I have two PDLs which I repaid and took out numerous loans, can and should I ask for a refund of interest payments on the past loans? If there is a current outstanding principal balance, does my excessive interest payments on past loans cover that amount?




Yes you can and you should ask for a refund. If you do not have an account with the lender currently, the chances of seeing a refund for those look pretty slim. As for the people you have overpaid and currently have accounts open with, you should revoke ACH and then ask them to apply the overpayments from previous loans to cover the principal on your present loans.


lrhall41

Submitted by Steve Barris on Wed, 12/26/2012 - 22:46

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