Payday loan option

Submitted by alana001 on Tue, 12/30/2008 - 06:00

I wondered if anyone had ever used this service to help with payday loans?
I just found out about it tonight and I'm thinking of calling them. I am in over my head, and I don't want to close my bank account because I like the bank so much.
Any insight would be appreciated!

Hi, ALANA. No,..I can't say I've used them, myself. Maybe someone else has. I'm sure, if someone has used them, from this forum, they will come to this thread and make a post. Or........maybe someone can give you some advice on how to deal with the PDL's. Hang in there.

Tue, 12/30/2008 - 11:53 Permalink
Alana (not verified)

Yes, I hope someone has used them. I will give them a call and post back here.

Tue, 12/30/2008 - 14:12 Permalink

I have not heard of this place but I do not have payday loans either. Did you check the Better Business Bureaus website and see if there was anything listed there about them? I would be sure to look into the company fairly well before signing up for anything. I would suggest checking BBB website , doing an iternet search on them and calling them just to get some information. I would also say check back here because someone may have dealt with them. After you have done all your homework then you can make an informed decision. If you do go with them and they help you or you are pleased with them drop back in and let us know. Getting first hand information from others is a good way to ehlp others.

Tue, 12/30/2008 - 14:28 Permalink
alana (not verified)

I called the payday loan help number, and it was disconnected, so I then called Langhorne. Although I did read some negative feedback about them on this website, I also read some positive feedback. I am going to give them a try. I live in NC, and they assured me that they did work with this state. I am going to the bank in a little while and close my account. My payments to Langhorne won't start until next month. There are fees, but in the long run, I will save a lot of money! I have four Internet cash loans along with a storefront loan. I can handle that one on my own. I will keep you posted and I will certainly come back to hear some feedback!

Tue, 12/30/2008 - 18:05 Permalink
Alana (not verified)

Thanks for the feedback. Langhorne specializes in payday loan consolidation, and they have recevied some complaints. I found some info on the BBB site. However, I wrote to Langhorne just now and told them that I looked forward to doing business with them. I also mentioned that I had looked them up at the Better Business Bureau site.
I will let everyone know how it goes!

Wed, 12/31/2008 - 01:35 Permalink

Must feel good to have a plan of action under your belt. I had some pay day loan issues and that is how I found the debt forum, which eventually lead me here. I wish you luck and if you need any advice, I have experience under my belt when dealing with some of these. Please let me know, I will share information with you.

Wed, 12/31/2008 - 04:12 Permalink

Good natured, how did you finally get caught up on all the payday loans? Was their any legal way you got them from collecting all that high interest? I see many people here who are struggling with this issue and once you get under the trap how do you go about getting out? It seeems like an endless circle. What happens if you just quit paying them? Will they then turn around and try to settle the debt?

Wed, 12/31/2008 - 14:06 Permalink
Alana (not verified)

Thanks for the feedback, Good Natured. Wow-I closed out my bank account and opened a new one yesterday. I left enough money in there to clear one check I thought would be coming in, and also enough for NSF fees which I thought would happen when the payday lenders tried to get their money. Well, my account is in the negative now because the payments were forced through! Not by the lenders, but by the bank. They looked at the money that was in my account at 2:00 yesterday afternoon. It's weird. THe lady at the local branch had never heard of this happening. Now I owe the bank, and the lenders will not call until next month! I guess there's some relief in that!

Wed, 12/31/2008 - 15:01 Permalink

Can you explain the matter to me a bit clearly. Is it that the creditors have taken out extra money that they actually owe from your bank account. If this is the case, then you should immediately contact your creditor. But if it has been withdrawn by the bank you should immediately contact the bank and get the money back into your account.

Thu, 01/01/2009 - 12:28 Permalink
Alana (not verified)

Thanks for the support. I thought the money should go back into my account. I'm working on trying to get that resolved. I left $85 in there to cover the NSF fees and one check to a vet's office. In spite of this balance, three lenders got their money because the bank let them through. The local branch said that the processing dept. was looking at the money in the account as of 2:00 that day. It still doesn't make sense to me. I'll look further into this.

Thu, 01/01/2009 - 14:45 Permalink

It doesn't sound quiute right to me either. I think you should pursue this matter with your bank. It doesn't seem quite right that they should push these payments through. Were the creditors suppose to take the money out or did they take it out to early? If the account was closed none of it should have been pushed through.

Thu, 01/01/2009 - 15:21 Permalink

I agree with what FIREYONE is saying. If your bank account WAS closed, the 'debit' would be sent back to whoever tried to put them through. You wouldn't even SEE it.

Fri, 01/02/2009 - 04:19 Permalink
Anonymous (not verified)

I have taken two payday loans and now I am not in a position to repay them as I do not have a job. Will it affect my credit score if I do not pay right now.

Fri, 01/02/2009 - 08:25 Permalink

Yes, if you have taken a payday loan and do not repay, the creditor may report the debt to the credit bureaus. The credit bureaus will list the debt in your credit report which will lower your credit score. Since payday loans has astronomical rate of interest, you should always pay off this loan else you may fall in debt trap. For this you can either take a cash advance from your employer or go for debt consolidation loan. However, you can get a debt consolidation loan only if you have a good credit score.

Fri, 01/02/2009 - 09:07 Permalink

I have CA's, on my credit ( collecting for PDL's) as well. I thought MOST PDL's were illegal. Can I get a few CA's removed from my CR based on THAT fact?

Fri, 01/02/2009 - 12:05 Permalink

I have just heard from two of my payday lenders. The Loan Shop Online said that yes, they would accept my payment for $120, without all the interest. I couldn't believe it. I sent out a letter.
500 Fast Cash said they don't accept mail in payments. I don't know how money grams work, but they said they take those too.
I feel somewhat better about all of this, but I still have two more letters to write to two other companies.

Fri, 01/02/2009 - 18:44 Permalink

Hi Alana
If Loan shop online agree for $120 to close your loan account, you should get it in writing that they agree to settle for $120 else if they take this money and again sell the remaining debt to another collection agency, then you may need to pay again. You should always get everything in writing before you pay off any debt.

Sat, 01/03/2009 - 10:36 Permalink

It's difficult to get out of the PDL 'cycle'. However.......sometimes we 'do what we have to do, ya know? It's nice that people can come to this forum to find out how to deal with them....that puts my mind at ease.

Sat, 01/03/2009 - 13:31 Permalink

MAry is definatley correct. You should protect yourself at all costs by getting a letter from them showing this agreement, asap. I say this because this is a really great offer but only if it does not come back later to haunt you. Once you get this in writing get the money gram out in the mail and save all documents for years. I would not suggest using a checking account to pay. You leave them the opportunity to take more out than you agreed to by doing this. Yes they are known for it so go the money gram route to protect your self.

Sat, 01/03/2009 - 13:33 Permalink

I had Loan Shoppe at one time. They were difficult for me to deal with. I tried to set up some kind of arragement with them.....they just din't want to listen, I guess.

Sat, 01/03/2009 - 14:02 Permalink

Thanks for the advice. The Loan Shop sent me an email stating they were willing to let me pay the money. Is this good?

Sat, 01/03/2009 - 15:05 Permalink

Sometimes it's really difficult to deal with PDL's. There are days I just don't want to talk to them.

Sun, 01/04/2009 - 03:20 Permalink

Yes it sounds as if it is. We would almost have to see the document but if you read through it and didn;t see anything that didn't belone then I would copy this e-mail and keep it in a safe place. You may also want to save it in your e-mail box. You should ask then for a pay for delete also. This is when they take their mark off your credit report as long as you pay the debt. You should do this before paying the debt and also get it in writing. If you wait until the debt is paid chances are you will not be able to get them to remove it.

Sun, 01/04/2009 - 19:21 Permalink

If some PDL's are illegal, how can the ILLEGAL ones 'sell' the debt to a CA? how can they 'sell' the debt to ANYONE, for that matter?

Mon, 01/05/2009 - 03:03 Permalink

It is true that payday loans are illegal in some states. But the fact is that if they have done anything illegal by offering payday loans, then the borrowers have also done illegal by taking such loans. If the payday loan companies are not allowed to operate, they can sell off their debts to collection agencies who has the license to collect the debt. Now, if you think that it is illegal for them to collect the outstanding debt, you simply do not pay the outstanding debt and wait for them to sue you to the court. If the judgment goes in your favor then you need not pay back the debt and you can consider it illegal for the PDL company to sell the debt to the collection agency, else you need to pay off the debt.

Mon, 01/05/2009 - 06:01 Permalink

I understand your point, CAROL. true...if 'we' KNOW that PDL's are illegal and we get a 'loan' from them, I suppose we're involving ourselves in illegal acts, as well.

Mon, 01/05/2009 - 11:12 Permalink

When people take pay day loans they never think whether it is legal or illegal because most of the time payday loans are taken to meet emergency expenses. Now if you have payday loans with a signed agreement between you and the creditor, you need to repay it off. Now if any company is declared illegal, it can easily sell of the debt to collection agency who is authorized to collect the debt. It is not the question of legal or illegal but whether we are required to pay back the debt or not if the lender is operating illegal business in the state.

Tue, 01/06/2009 - 07:49 Permalink

I used another company reliefllc they were very upfront with me and gave me a few more options that the other companies didn't. they have already got one paid down for less than what I owed and I only make a once a month payment.

So far so good, so we will see what happens over the coming months, but at least the interest fees stopped!!

Mon, 04/06/2009 - 22:08 Permalink

I checked out several of these companies. I did my research and talked to all of them. PDL assistance has a reputation for not paying of the payday lenders. And they have a really high enrollment fee. The company I ended up going with was RELIEF, LLC they seemed the most upfront about things and they gave me the most options for how to have my own bank account or use theirs. Also their enrollment fee was reasonable compared to PDLassistance.

They have already paid off two of my payday loans so I know they actually do what they are saying they do.

Tue, 04/14/2009 - 18:01 Permalink

In my opinion if the PDL is illegal in the state then why do lenders risk their money for nothing substantial??

Does it make any sense to just distribute the money to those from where there is less chances of getting returns with legal way?

keep us informed.

:arrow: :arrow: :arrow:

Thu, 05/21/2009 - 03:14 Permalink
Anonymous (not verified)

I have been receiving some calls from a gentleman says he
is from federal legal dept and has my case and I will
be arrested. I do not remember having an loan with
USA Fast Cash. It does not say legal
What should I do?

Mon, 07/06/2009 - 16:53 Permalink

Thats really funny

Some oen cannto just call you and keep telling you that they will arrest you

There are laws and courts. If the court really orders this, they will send you a letter for sure

Thu, 09/24/2009 - 05:16 Permalink
adreina (not verified)

I attempted to use PDL assistance awhile ago to and I paid the enrollment fee, they said cancel the checks to your payday lender and we will start settling with them. Before I ever made a payment to PDL Asst. the payday loan companies debited my bank account for the loans and left me negative, and then PDL Asst. wouldn't refund the enrollment fee which was 150.00

Mon, 09/28/2009 - 16:28 Permalink
h1948 (not verified)

Is this in Henderson. NV? and do they really hepl you?

Fri, 11/13/2009 - 23:16 Permalink

That call does sound suspicious, courts send letters or summons, not make telephone calls...he didn't provide any other information? I would contact the local authorities about this and make an informed desicion that way about this...

Thu, 07/01/2010 - 02:25 Permalink

Hi Alana,

Please make sure that you check out any company on the BBB prior to signing up with them. If the company is not a BBB accredited business & has a low rating, that should set off a red flag that the company may not be reputable. According to the BBB, the company you listed above is not a BBB accredited business & thay have a "D-" rating with the BBB.

You have to be very careful with payday loans because you are signing an agreement that allows the payday loan company to continue to go into your checking account until the funds are collected. If the money is not in your account & you go in default, you can incur NSF fees & then owe money to the bank for being overdrawn in your account. Payday loans set you back more then they set you ahead. That is why is it so easy to obtain a payday loan because payday loan companies are high risk lenders.

If you are in default with your payday loans, I may be able to refer to a reputable company that may be able to assist you in your situation. Please feel free to contact me if you are interested.

Best of Luck,

Heather Gimmy

Wed, 07/07/2010 - 19:35 Permalink

Better Business Bureau is a good source to check out a company but we should keep in mind that it is also a voluntary bureau that companies do not have to report to.

Thu, 07/08/2010 - 00:22 Permalink

(Just a comment) Sometimes it's really easy to get PDL''re correct, HJIMMY. And you DO think you're "getting ahead."'re making MORE debt for yourself. (A personal thought)..Right now I'm struggling (financially) a bit, but...I really want to stay away from PDL. They were hell to deal with!!

Thu, 07/08/2010 - 11:06 Permalink

Not repaying payday loans hits your score a great deal. I agree with Justin, as it has already hurt your score, you may not get a consolidation loan. You can go to some reliable and registered credit counseling agency and take their help to find a solution. Or, you can ask any friend or relative of yours, who has excellent credit score, to help you get the consolidated loan as the co-signer. Take out the loan and immediately repay your payday loans. You also need to follow a budget and practice frugal living, so that you don't have to face this tight fiscal situation in the future.

Mon, 08/16/2010 - 19:06 Permalink
teal (not verified)

If you have taken pay day loans you have to pay it back.Try to arrange some extra income source so that you can pay it back.

Tue, 08/17/2010 - 05:01 Permalink
tracy (not verified)

I know little about payday loans.They are good do not close your account.

Wed, 08/18/2010 - 05:58 Permalink
tracy (not verified)

I have just this much information that payday loans are available online.

Thu, 08/19/2010 - 11:34 Permalink

Yes...PDL's ARE "available on line." (Putting in my '2 cents' here..) I know someone who gets PDL's all the time. THEN...........she puts people down, when she founs out that OTHER'S get PDLs, as well. I mean, she is very hypocritical!! Always says, "she has the best job with the best pay," etc. It just annoys me when she almost puts over the 'PA sysytem', in her local town, who gets them and who doesn't. NOW..she's 'crying' because she can't pay all of them back!! Ya know..we ALL have 'been there'....dealing with PDLs at one time or another.

Mon, 08/23/2010 - 11:38 Permalink

Online payday loan cash services should host a secure site that can safely transfer your personal information. They should also post their disclosures, interest rates and fee information before you submit your application so you can make an informed choice about which service suits your needs the best.

Fri, 07/22/2011 - 06:33 Permalink
Hamsakm (not verified)

Of course they canThey enetxded you credit and you didn't repay them according to the contract (it's like 5 or 6 pages that you have to sign to take out these loans, lots of small print that informs you they can report you if you do not pay) Depends on what the class action suit is about. The thing is, by the time the class action suit is ironed out, it would either be off your report (aged off) or you will be sued by them or the collection agency they sell your debt to, so it won't matter.

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