Platinum B, the dirty b*stards!

notell39,

Hi there! I understand completely what you are going through. DO NOTlet them intimidate you. These are common threats of the lenders. Send each collection agency a debt validation letter and cease and desist letter by certified mail with return receipt. There is a company that consolidates payday loans and if you would like, I can give you the phone number. You need to close your account and open a new one and do not let them know you have another one. If you read the postings throughout the forum, you will see what we all have been through with these places.

$620 for a $250 loan!! How?? You must ask the agency to give you an itemized statement with perfect calculation of interest charges and other fees attached with it. The total should be shown to you how it summed up to this amount.

If you do not get the complete details, you must dispute on it with your explanation. It's important that you send these communications in writing through certified mail and keep one copy documented in a file for records.

As said by Brat, you must monitor your bank account closely. If there are unauthorized debits or any other fraudulent activities, you need to close the account. The bank will insist you to pay all the NSF charges. Explain to them that you are not the one to suffer for it if the company makes a fraudulent debit. I guess the bank will understand the situation and won't charge you anything for it. Have everything straightened out before you pay a dime.

Also, when you go to the bank, be sure to ask for the branch manager. Things seem to get handled easier when you go above the tellers. That has been my experience.

Brat, have you ever dealt with Platinum B and if yes, have you talked with their branch manager? My friend has a similar issue and he needs to get in touch with him. But, all his efforts to see him are going wasted. Any suggestions you have for my friend will be appreciated.

What I was meaning in the post above was that notell39 needs to speak to the branch manager where he banks. I have dealt with places just as bad as platinum b. I have found it easier to file a complaint with the attorney generals office and consumer protection office and let them handle it. I have gotten positive results using this method. You would be amazed at how quick the attitude of the payday lender changes and they are willing to work things through.

Like Carl wrote - definetly ask them to send proof of the total charges to you in written form and mailed.

I asked this of a place in which I owed less than I had already paid ( I payed around 3x the original) and I have not heard from them since so I have considered the matter closed.

I even received an e-mail from a different company that looked like them in which they invited me to re-loan based on my past successfull loan history. Most likely a scam to get my new checking account # so they could hit it again. It had to be them - how else would they have known of my past loaning history? I think some of these places assume that we are a bunch of dummies that took out these loans in the 1st place so they think they can scare and trick us into paying.

If you have already payed 2X the amount of the original loan then I cannot see them actually persuing it if you ask for proof in writting and inform them that you will be using it to verify the debt.

I even received an e-mail from a different company that looked like them in which they invited me to re-loan based on my past successfull loan history. Most likely a scam to get my new checking account # so they could hit it again. It had to be them - how else would they have known of my past loaning history? I think some of these places assume that we are a bunch of dummies that took out these loans in the 1st place so they think they can scare and trick us into paying.