Marcia Brady’s Lovechile tells all . . .

If this is true, then it is great. Training your new staff on how to legally collect a debt would be wonderful. I have never fallen for the "We're coming to getcha at work or home" threat, but I can see from many posts here that others have and it isn't legal. Not to mention what it does to that person's mental health. And after all, the company is trying to collect on a debt I can tell you from my perspective as a debtor, I am more willing to take a call from a collector and work out a reasonable agreement for both parties if I am not being threatened illegally. So I am less likely to take the call or open the letter when I know it is filled with baseless threats. Because in the end both parties want the same thing, the matter to be settled. I do understand that the pdls are taken for money from those who never intend on paying a dime back. But I think you can see from these many posts that most people have paid back far too much, what is legally allowed. And the section in the contract that states the borrower agrees to the lenders state laws from what I have learned can not be enforced, and I have learned that from the government. And I have also learned that a company operating over the internet claiming to be from NM (even states in the contract) isn't licensed in that state to operate, and yet they want to claim they go by NM laws. I also believe there are internet pdls that intentially set out to rip people off. But I have also worked with a few internet pdls that follow the laws and I did not have a problem with them or paying them back.

I do not believe you are a bad person and don't judge you. I hope what you are saying is true. This would be great for the consumer who wants to payback their debts. I hope you will keep us posted.

Sorry Dennis I reread your post, the first time I just got stuck on who you are really with. But it would be awesome if what you say you are going to do is true, being pdls worst nightmare. I think this industry exploits and takes advantage of the poor, those with poor/limited credit who find themselves in a desperate situation. And when somebody is in a desperate situation regardless of the reason, is a time when a person isn't thinking rationally or able to make the best decision, and the pdl companies know this and take advantage of it. That is just my personal opinion.

Thanks for the feedback.

Just to be clear, though, we aren't collecting debts for anyone. What I'm having everyone trained to do is to renegotiate debts for the consumers. Basically, the plan is to use everything I know about how payday lenders operate against them.

In case your interested in seeing more about what I'm doing, here's our new website:

Link deleted as per forum rules - Mike

Great website. Yes, I reread your posts and realized that you weren't doing debt collection, sorry.

Dennis,
I have read your prior posts and have gotten much insight from them and know that it took guts to come forward with your true identity. I just have one question: why the switch? What made you change focus?

Wow. It is really good. I see you have really been paying attention to the posts and the nightmare the internet pdls have put members through. I have a feeling you will be busy once word gets out.

Kscornell you have to go to his website, it is really good, and looks legit.

I will do that! Thanks!

Just went to the website and what I see looks very promising.

And I have to say that Marcia was always my favorite Brady, lol. But Dennis, after going to the website, which I am impressed with, I still want to know: why are you "coming to Jesus" after all of this time? What made you come back from the dark side? Just wondering...

I think he has a conscious and morals and knows that what the pdls are doing is wrong and in some instances illegal. I am impressed with the site as well, very good info.

Interesting stuff Dennis...
May I ask what brought this turn around?

Let me explain the switch . . .

I was a consumer bankruptcy attorney when I first started practicing law, so my roots were always on the consumer side. After a few years I accepted a diplomatic appointment, stopped practicing law and went overseas. When I came back I started doing corporate law and took on a few payday lenders as clients. That's when I made my big mistake. I agreed to do collections for one of them . . . and let's just say sometime we make decisions we wish we could take back. But a contract is a contract and I believe in keeping my word. So I fulfilled it. But when it expired I closed the firm down and waited out the contract's non-competition period before starting the "new" version of my firm.

I really believe I'll be able to go after the pdls, especially the online guys, a lot more effectively than some others in the industry. I built their model, so I know how to tear it down. I also know what they will and won't do to collect a debt and what pressure they respond to. So there's very little guessing involved.

Besides, I have a lot of their home telephone numbers . . . so everytime my client gets a harassing call from a collector, I can return it. ;-)

That is GREAT! I think alot of us here know what it is to sign a contract and wish we could go back in time and change what we have done. Will you also work with storfront pdls? I have a coworker who is in dire straits I will refer to your company, and can a person use your service if they live outside PA. You are providing HOPE for many people who feel they are in a hopeless situation.

Thanks!

I'll work with storefront loans, too, but I'm trying to limit myself to people with at least one internet-based loan, as well. I'm also focusing on the people that have multiple loans of all types.

Storefront loans are basically legal, and I'm not confident I can routinely negotiate enough of a reduction to make it worth someone's while to pay both me and the store. If my fee is 25% of the original loan and the store ends up with 75%, I haven't done anyone any favors, right? My goal is a blended rate of 50 cents on the dollar, with stores getting a little more and internet guys and other illegal and semi-legal operators getting a LOT less, if anything.

I will work with people outside of PA and NJ, where I'm licensed as an attorney. What I do in those cases is have the individual fill out a limited power of attorney so I can act as their personal representative without violating "unauthorized practice of law" restrictions.

Thanks again.

Since ya let the cat outta the bag are you going to register now?

I guess. But what would I do with all those points?

Donate them to another member, or cash them in. I really think it is great what you are doing.

So if I have a total loan balance on internet pdl's of $1000...
You're take on this right off the top is $250, and you negotiate the pdl's for half, $500...
So the total the custumer owes on a $1000 pdl loan would be $750???

Correct. But paid over 6-12 months. Instead of paying $600 a month in fees (at the typical $30/$100 internet model) and never getting ahead, you'd pay $125/month (assuming a 6 month plan) and be done with all of them. Meanwhile I guide you through how to keep them from debiting your account, send out all the C&D's and Validation letters and do all the fighting with these animals for you. (Plus, you all know what it means when you tell a PDL you're going to your AG. What do you think will happen when I file 200 AG complaints simultaneously against that lender? The threat alone should be enough to end all debate)

Plus, if I can settle the loans for less the savings goes back to the client. (I only offer internet guys less than the 50% that I advertise) The client just needs to give me as much information as they have about their loans and make sure I know about it if someone bypasses me and contact them directly.

How do you handle for example a person has an internet pdl, to date they've paid $875 on a $300 loan and the legal interest fee in OH is $15/$100? Do you just offer settlement for $150 or do you go after them to deduct the over charges?

First, I never offer settlement at 50 cents on the dollar to an internet pdl. Closer to 20 cents, regardless of the circumstances.

In a case like what you describe, though, the goal is to make the debt go away entirely, at least, if not get a refund. Forcing a refund might require litigation, which is expensive and usually requires outside counsel (unless I happen to be licensed in the consumer's state). So my immediate goal is to end any effort to collect the debt . . . by any means necessary.

Not as good as a refund, I admit. But my focus is debt negotiation rather than litigation and I would still consider getting the lender to write off the debt as paid in full an honorable resolution. It alleviates any immediate problems the consumer is experiencing with that lender and prevents any negative impact on the person's credit report.

Where my program is lacking, and where I would appreciate input, is helping people avoid the payday loan trap in the future. My experience is that most borrower wouldn't need payday loans at all if they were better skilled at managing their money. I will help them budget for the settlement program and any "change" left over is the start of a savings account, but I do not have the expertise to help guide people once the payday cycle is broken. Any ideas where I could refer "graduates" of the program for that kind of mentoring?

I have to agree with you there, Dennis. I have personally almost gotten out of the PDL trap, but circumstances have forced me back in it, which is so disheartening. What is the point of getting out when you have to get back in, right? If there is a way just to end it, that would be great.

I just did the calculations on the web site and it looks like I can save at least $150 a month from what I'm paying now. I've emailed you and look forward to hearing from you!

Sometimes it is a person's personal spending habits that get them in the situation, they fail to save for an emergency and they end up getting pdls. Sometimes it isn't the spending habits, its lack of income or a person may have a savings account but some unforseen circumstance arises and they need additional funds to cover the emergency and they wipe out their savings. My situation was the latter, I never would have dreamed that I was going to be hit with two situations at once and they were costly and had to be dealt with. The scenrio I gave you is one I am in currently, ($875 on $300 internet pdl) I have 2 of them left that have yet to respond to me and I have defaulted on them almost 2 months ago, I also filed complaints with the AG's office in OH, so I'm not sure if they are just lying in wait to attack with worthless threats or they are just ignoring my complaints and are just going to go away (somehow I doubt that) I have also e-mailed you for further consultation.

I'm very impressed. What you're doing sounds wonderful. The best of luck to you.

Dennis,

I think it is very brave of you to come forward like this and I hope you help the consumer against these illegal pdl tactics. Like Steelers 1 said, the majority of us here had no intention of just taking the money and running. I had paid the majority of mine over by hundreds or even thousands of dollars per my state laws. I think we have banned together so we can stop the harassment like the arrest threats and to pay what our state laws state that we owe. I believe in my state laws, if they are not licensed, then the contract can be null and void. I still did the right thing by entering into debt consolidation to pay them off. Then I paid them on my own and I was in the fight for my life. I am curious about the license model that you are talking about. Are you able to give us more specifics on that? If not, then I completely understand. I hope things go well for you and your new staff :)

Dennis,

I am out of the pdl cycle and it's hard not getting back into it at time. Right now, money is tight but I have to remind myself where I was a year ago and I know that pdl's are more hurt than help for me. I know some people can take one in their life and be done with it. I got my first one because I was poor at managing money and got caught short with bills. I had to keep going back to just to make ends meet. Then one led to two, so on and so forth. I think a course a managing money would be wise as I am still learning this one. I worked a lot of over time this summer to help with my debt settlement payments and some other bills. Right now that is cut and I'm hurting because we've had other things pop up as well. We are learning but if you find some type of course, please share it with us on the forum.

So Marcia Brady, what you are saying is that you were in the pdl sides and now you expect that we believe that you are now on our sides? How can you possibly be the inventor of the internet payday one one hand and then use it to "help" others? sounds like you are trying to make money off of us just like you were in the past.

you know they say that a skunk cant change is stripe?

I just called your law firm today and talked Ana. I really hope you all can help me. I am going to be sending my first payment later this week. I just want to get from under this "PDL CURSE". They lie to you and some are not willing to accept arrangements. My question is what do I do in the meantime. I have 2 that are calling me and one of them refuses to send me anything in writing on the debt that he claims that I owe. Please help.

JJsmith, people do change, and I don't think he is going to make as much money off of us as he did with the internet pdls.

I'm sorry that you feel that way, JJ, but I can't say I blame you. Right now, I understand that all you have are my words. Give it some time, and judge me by my actions.

But when you say I haven't changed my stripes . . . you've got a point. I never gave a client less than 100% - whether it was a consumer bankruptcy client back in 1998, a payday lender in 2003 or a payday loan borrower today. That IS NOT going to change.

JJsmith, all I can say is visit the website and see for yourself and contact them. They are a member of the BBB and you can also check their records with the BBB. Keep coming back because I am sure people will be posting their experiences with the services and then maybe you will be able to better judge this switch for yourself. I have a feeling that if you (not you personally jjsmith) are in a pdl cycle with no way out you would want somebody who previously worked with the companies in the past on your side. Who would know how to handle them better?

Steelers1:

I know, JJ, it's very hard to trust people after you've been burned once (or in many cases, several times) by PDLs. However, I have gone to their website, and I believe that they're being upfront. At some point, we have to trust people again. I myself am very thankful that Langhorne Law did "change their ways." You're an answer to our prayers, Langhorne Law!

I have a question that has nothing to do with pdl,but something you(MarciaBradys lovechile)posted some time back. I was looking for some info for someone else,and I ran into a post,can't find it now,where you said that people were mistaken thinking that if they made a payment it started the SOL back up. I believe you stated that wasn't necessarily true? If I got this right,could you please explain it a little more? Thanks..KAren

Hey Dennis,
Got your email saying that someone would call me today and noone did. Can I call you if I still don't hear anything by tomorrow?

They called me today, the e-mail i got said they would call me yesterday. I figured they were probably busy, but somebody did call, I didn't have my answering machine on so I called the number on my caller id back and they put me through to the CSR that contacted me and she set up a phone appointment for me to talk with him on Friday. She was able to give info. about what they do and how they can help. I just had some more specific questions about pdls that haven't contacted me after filing ag complaints.

I believe what I said was that making a partial payment on an old debt does not renew the SOL because SOL's are based on the date the contract was breached. (i.e., when it went into default) So if I stop paying my Citibank bill in NJ, for example, I can be sued up to 6 years after the date each payment fails (as to that payment alone) until such time as the whole debt is accelerated. If a year later, I send them a few hundred bucks, that doesn't change the SOL as to each of the previous payments.

Where a lot of confusion arises is that the date of "last activity" is so crucial in determining how long an item can remain on your credit report. You could have a ten year old credit card bill that doesn't even appear on your credit report anymore - (because of its age), make a payment (ex., it they got a judgment, you might need to clear that up to buy or sell a house) and suddenly it can legally re-appear on your credit report because of the recent activity on the account.

MarciaBrady, Question for you... I checked out your website and am impressed. Now I am wondering if I've made a mistake going with a consolidation company. Perhaps I should leave my credit debt with the consolidation company and send my internet pdls to your company. Will the PDls stop the interest & fees with the consolidation companies? If not I will never escape.. Thanks Pauli'sGirl

You'll never hear me badmouth credit counseling as long as it involves a legitimate company and actual counseling. (Where I get a little harsh on my site, I'm referring to some of these fly-by-night outfits that are just out to grab fees and do nothing to actually help their clients.) What I do is different and it's up to everyone to make their own personal decision.

In legitimate credit counseling, you'll pay 100% of the debt, but you usually get a longer period of time to do that in (sometimes as long as 3 or 4 years, depending on your situation). My program involves actively renegotiating your loans to lower balances in exchange for lump sum payments, which you have to save up over 6-12 months. You'll end up paying a lot less overall, but you'll need to save up the necessary funds quicker. (However, we provide you with a budget for the length of your plan that's broken up into how much goes to our fees and what you need to put aside for savings.)

Remember, no one knows your financial situation better than you. It's a matter of getting as much information as you can about your options and making the choice that best suits you.

Ok thanks, that is something to think about. Do you stop the calls from the collectors when an account is placed with your company..it doesn't seem to me that the calls and emails have stopped even though they have received payment from my company I am working with. Do you know if the PDL's will stop adding the interest and fees to my pdls that the consolidation company has?

What about the payday loan lenders that are not licensed to do business in your state. I do not want to try to get out of paying what I owe but these fees are rediculous.

Quick and dirty answers

paulisgirl:

Every lender has there own policy with regard to credit counseling companies. Some work just fine with them. Others don't.

Another variable is that every payday lender has its own policy with regard to how much interest to let accure on a loan that's in default. (This would include a loan in a consolidation plan. Even though it's being paid, it's not being paid according to the contract.) Some stop tacking on new fees as soon a payment fails. The loan goes straight into collections. Others will let it ride another pay period and try to resurrect you as a customer before treating it as a collections matter. Naturally, another fee comes due. Finally, a few just keep adding fees automatically long after it's clear the loan isn't going to be paid. (In most of the last cases it's a company that's overreliant on automation to operate, rather than some sort of collections tactic. There simply isn't a moment when a human being looks at the file and says STOP.)

arj800: Are you referring to someone with no license whatsoever, or someone who has a license elsewhere? And what state do you live in? Unfortunately, the answer to your question can get pretty complicated.

Also, would you mind sending me the answers in a PM? I've learned that here are a lot of eyes on this forum right now that don't necessarily belong to payday loan BORROWERS. Now that I have some consumer clients' interests to consider, I need to start being careful what I say in public.

Dennis, you are teh cat's pajamas! Your intentions and objectives may bring sanity and order back to the financial world. Good luck on your venture!

Dennis, You ARE the cat's pajamas (to quote Ari). I enjoyed speaking with you today and I'm sorry I had to cut you off--(I was going into a meeting that I was leading, lol...)I will definately give you a jingle tomorrow though. Thanks again!

Jeff,
You are a baaaad boy!!! LOL!!! You better sit in the front of the classroom!!

That is a cute pic of your kitty.

I just wanted to let everyone know that i just talked with Holly at Langhorn law and am retaing their services. they were very pleasant and professional and seemed very helpful.

I am also looking into them, I pray this is legit.