Payment Arrangment on PDL?
Date: Mon, 10/30/2006 - 17:32
I have 4 outstanding PDL's right now - one storefront and 3 online. I have had to close my bank account in order to regain my direct deposit paycheck, which was being eaten up by the fees on these loans. I want to repay them, but I am finding they are difficult to work with - demanding a certain dollar amount every paycheck, which I cannot afford. Is it possible to make them accept a small payment every paycheck until the loan is paid in full? I realize that by being in default on the loans (by closing my bank account), I am not in a good position to bargain, but I can't see any other way to pay them off. Any advice would be helpful. I am in Michigan.
You are in a perfect position to bargain! The storefront PDL you
You are in a perfect position to bargain! The storefront PDL you will have to deal with first. Make arrangements with them. I believe that can actually take you to court. What are the 3 that you have online? and how much interest + principal have you paid? You can find out if they are licensed to lend in your state and what they are allowed to charge you in interest. You might have already overpaid them.
payday loans
Sue , Welcome to the forums. I would definately register and have a debt counselor call you. Also in our services selection you can click on blogs go to Pollys blog and look up Michigan laws. She has a great settlement letter. Good Luck KYSIDE38