Just want to know what to expect friday
Date: Sun, 12/18/2011 - 20:14
Question about pdl consolidation companies
Are any of these companies legit? If I set up a plan with them to make a one time payment a month to them, will this satisfy my pdl lenders and stop them from calling work and myself? Does anyone know which ones are legit if there are any?
Your loans are all illegal...why on earth would you want to pay
Your loans are all illegal...why on earth would you want to pay a fee to consolidate them? You need to pay them back principal only. Send cease and desist letters and file complaints with your state ag's office.
j2j
You don't say which companies you're dealing with, how much you
You don't say which companies you're dealing with, how much you borrowed, and how much you've paid back;let us know how much you've paid and how much you borrowed, could be they owe YOU money! As to what to expect once they find out they can't get into your checking account; it depends on the companies; some of them will quietly "fade away," but unfortunately many of them WILL make a lot of phone calls. Some of the worst are companies affiliated with MTE/MNE - Ameriloan, United Cash Loans, etc. Please keep us posted!
The companies I am dealing with are Ameriloan borrowed 200 Have
The companies I am dealing with are Ameriloan borrowed 200 Have paid back 1 finance charge of 60 so far. SSM group which I didn't even sign anything deposited 200 have paid 60 in interest so far, 123 wages 200 have not paid anything back yet, integrity advance 200 have paid 5 finance charges of 48 and 1 payment of 98 with 50 going to principal. loanshop 200 paid back nothing, and mycashnow borrowed 400 have not paid anything back yet.. When they start calling me friday what do I tell them? Should I try and set up a payment agreement with them for the principal only since they are illegal in my state of Iowa? I am really nervous they will start calling and harrassing me at work... I just want to know the best things to do before friday and what to expect friday... thanks
NewEngland, do you have an update on this? What I would do to d
NewEngland, do you have an update on this? What I would do to deal with the fear of your work being called is to tell your office manager or the person(s) who answer the phones there that you are a victim of identify theft and just discovered a bunch of fraudulent activity on your bank account and to expect some calls about it for awhile until you can get it worked out. The less details, the better, but that should keep people from questioning why you are getting calls.
I know a lot of people recommend sending a cease and desist letter to the customer service email address or physical address of each of the companies, but it's my understanding that if the people calling you are the original creditor, then they don't have to comply with it. You could still send it and say that you will only deal with them through email or your cell phone and ask that they not contact you at work as all work calls are recorded at your place of business. That might keep them from calling there.
This is an example of a cease and desist letter, if you need it:
[COLOR=black]I hereby revoke any and all ACH debit authorizations with your company from debiting any of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers.[/COLOR][COLOR=black][FONT=Arial][/FONT][/COLOR]
My employer does not allow non-emergency telephone calls from anyone; all calls to my employer may be recorded for security reasons. I direct that you do NOT contact me via telephone at my place of employment in accordance with the Fair Debt Collection Practices Act (15 U.S.C. ??160).
Please use United States Mail to my home address, email sent to (your email address), or calls to my cell phone at ________ for all communications. I will file suit for harassment and intentional infliction of emotional distress, as well as criminal charges of harassment against you, if you, your agent, any successive owner of this debt, or any collection agency calls me at my job; I will use this notice as evidence in any legal proceedings thereof.
[COLOR=black] [/COLOR]
Hey an update on my situation is not much has changed.. I have c
Hey an update on my situation is not much has changed.. I have closed my old bank account and this friday all 6 lenders will find out they cant debit any money... How long do you think it will take before they start calling me at work? I have not sent any letters/emails yet about anything.. What should I send to them? Should I send that copy of telephone policy at my work now or wait till they start calling? I wanna know what to expect friday.. and when they start calling me should I answer and talk to them on the phone about a payment plan or something? I know all 6 are illegal in my state.. I only owe 200 principal on 5 of them and 400 on the other.. Ive almost paid 1 completely off... Another ive made 3 payments and all the others just 1 payment so far. I just wanna know what to expect friday and please tell me what I SHOULD do in the next 3 days before they all find out friday they wont be getting anymore money.. should i contact them before friday and give them the heads up or wait till they call? And if they call should I answer it? Will that prevent them from calling my work if I answer their phone calls? I am gonna be stressed, but dont want them calling my work all the time either.. plz just tell me what I should do before friday... thanks
They'll call once they realize they aren't getting your money.
They'll call once they realize they aren't getting your money.
You need to set up arrangements to pay the ones you still owe principal. Make sure you set up payments you can afford and stick to. Do NOT pay them via check. Get a prepaid debit card and take care of it that way.
Also, you've overpaid on one loan, make sure you ask them for a refund of the overpayment.