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I don't know how money grams work, but they said they take those too

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sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1883



1916 Magic Points

Subject: credit
 
Posted on Fri Jan 02, 2009 12:05 pm  

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?
alana001



Joined: 30 Dec 2008
alana001's page
Posts: 3



240 Magic Points

Subject: incredible
 
Posted on Fri Jan 02, 2009 6:44 pm  

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.
Alana
Mary

Mary

Joined: 06 Jul 2006
Mary's page
Posts: 684



17424 Magic Points

 
Posted on Sat Jan 03, 2009 10:36 am  

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.
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sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1883



1916 Magic Points

Subject: insurance
 
Posted on Sat Jan 03, 2009 1:31 pm  

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.
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 4246



123 Magic Points

 
Posted on Sat Jan 03, 2009 1:33 pm  

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.
sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1883



1916 Magic Points

Subject: credit
 
Posted on Sat Jan 03, 2009 2:02 pm  

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.
alana001



Joined: 30 Dec 2008
alana001's page
Posts: 3



240 Magic Points

Subject: loan shop
 
Posted on Sat Jan 03, 2009 3:05 pm  

Thanks for the advice. The Loan Shop sent me an email stating they were willing to let me pay the money. Is this good?
sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1883



1916 Magic Points

Subject: credit
 
Posted on Sun Jan 04, 2009 3:20 am  

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



Joined: 26 Feb 2008
fireyone's page
Posts: 4246



123 Magic Points

 
Posted on Sun Jan 04, 2009 7:21 pm  

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.
sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1883



1916 Magic Points

Subject: pdl
 
Posted on Mon Jan 05, 2009 3:03 am  

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?
carol

carol

Joined: 27 Jun 2006
carol's page
Posts: 1299
Location: Los Angeles, California


30054 Magic Points

 
Posted on Mon Jan 05, 2009 6:01 am  

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.
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sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1883



1916 Magic Points

Subject: credit
 
Posted on Mon Jan 05, 2009 11:12 am  

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.
carol

carol

Joined: 27 Jun 2006
carol's page
Posts: 1299
Location: Los Angeles, California


30054 Magic Points

 
Posted on Tue Jan 06, 2009 7:49 am  

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.
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fballman2



Joined: 06 Apr 2009
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Posts: 7



278 Magic Points

Subject: Payday loan option
 
Posted on Mon Apr 06, 2009 10:08 pm  

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!!
fballman2



Joined: 06 Apr 2009
fballman2's page
Posts: 7



278 Magic Points

Subject: Payday Loan Option
 
Posted on Tue Apr 14, 2009 6:01 pm  

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.

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