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Has anyone ever closed their bank account & settled w/the pdl companies?

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sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
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Posts: 1883



1916 Magic Points

Subject: pdl
 
Posted on Fri Nov 14, 2008 12:00 pm  

AROG........you may not HAVE a choice but to 'start over.' Which may mean to change your bank account. I'm not sure which PDL's you have, but, you may want to check to see which ones are 'legal' in your state. I had to close my bank account a few times ( and get a new one) to 'start things over.' I know it's overwhelming at times, trying to deal with them.
carol

carol

Joined: 27 Jun 2006
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Posts: 1299
Location: Los Angeles, California


30065 Magic Points

 
Posted on Mon Nov 17, 2008 8:20 am  

Hi arog
Since you have seven payday loans pending, you should immediately pay it off as the interest rates on these loans are very high. This high interest rates on the payday loans will add up to the actual amount and will push you to vicious circle of debt. If you have a good credit score, you should immediately go for debt consolidation loans which comes with a very attractive rate of interest and will help you to consolidate all your loan accounts into a single loan account.
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Justin

Justin

Joined: 17 Jul 2006
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Posts: 1238



28944 Magic Points

 
Posted on Mon Nov 17, 2008 8:30 am  

Yes, carol is right. You should immediately make provisions to pay back the payday loans as soon as possible. If you do not have a good credit score so that you can get a debt consolidation loan, you can take advances from your employer or borrow from your friend to pay off the debt. You should also check your credit report and see whether these debts have been listed in your credit report. However, outstanding debts which is less than six months old are generally not listed in the credit report.
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Catina
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Subject: Closing my bank account
 
Posted on Sun Nov 30, 2008 9:29 pm  

Has anyone ever closed their bank account & settled w/the pdl companies?
don
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Subject: usury
 
Posted on Wed Jun 10, 2009 8:55 pm  

get a lawyer, usury is a crime..
sherrell
Guest






Subject: 4 loans
 
Posted on Sun Jun 21, 2009 3:00 pm  

i have 4 loans and I would like to get out of this mess
ljw6227
Guest






Subject: closing accounts
 
Posted on Tue Jul 14, 2009 10:42 pm  

You have to be careful and contact your attorn. gen. for your state and dept of finance for your state each state has def. laws concerning pay day loans. Yes in the state of Missouri if you go close your account yourself they have the right to bring criminal charges such as fraud. Keep the account open until you check your state laws first. I kept mine open had 7 out myself. I changed my dir dep from my job to husband account at different bank, and when they called or whatever just told them just to pay it off in full and let it go through. Yes I had to pay the bank nsf fees but that was nothing compared to what I was shelling out to them, I am sending money orders and paying on them now. Legally they can only attempt to run it through so many times then they have to stop. This varies from state to state too...
carol

carol

Joined: 27 Jun 2006
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Posts: 1299
Location: Los Angeles, California


30065 Magic Points

 
Posted on Wed Jul 15, 2009 10:36 am  

Quote:
i have 4 loans and I would like to get out of this mess


It is simple. Pay off the debts and get a settlement from the collection agency/agencies. How old are the loans?
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velma
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Subject: loan
 
Posted on Wed Nov 25, 2009 2:07 am  

hi my loan is not in my account you said in 15mins but itis not in ant
barbara alsheimer
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Subject: payday loan
 
Posted on Sat Dec 19, 2009 7:20 pm  

i consolidated several loans with pdl assistance but one loan company is threatening me with going to court in california, i can't afford to pay two places as we are having a hard time financially, we had to take bankruptcy a year ago because of medical bills, we are 80 and 78 years old. my e -mail address if "barbalsheimer@yahoo.com"
Helen McGhee
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Subject: loan
 
Posted on Thu Dec 31, 2009 1:19 am  

i apply for loan p d l loan. i gave them my inforamation . they gave me a call . i told them i did not want the loan. i check my account. it was in their . trying to get in touch with them no answer. what can i do . i told them i don't want need the money.
aurora quiroz
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Posted on Tue Jan 19, 2010 2:56 pm  

i would like to apply for a loan
jaded
Guest






Subject: possible restructure
 
Posted on Mon Jun 21, 2010 9:01 pm  

I've run into the same type of issue and I'd like to share what I've found helpful. Even if you have bad/no credit outside of your "payday loans" there is a company that will consolidate them for you and set up a 6-12 month repayment schedule. The cost for the service is a one time fee of $200(or less, depending on your combined total). They set up a savings account in your name where they deposit your monthly payments to them and once the amount builds up enough to pay off each debt they let you know and send the full payoff amount to that particular creditor. They do the negotiating for you to reduce the fees and/or interest each company charges and they handle all correspondence with each company so you don't get the harassing phone calls. Just as an example on a combined total of 4 payday loans totaling just under $1100 the one time fee would be $175 and a 6 month repayment of $155 per month to clear all debts. They can adjust the length of repayment to fit your budget. Also, since the account is in your name, you can send additional funds at any time-allowing you to pay off your debt faster and there are no prepayment fees or charges. This is the best option that I had found in my research. The company info is:
Restructure Payday Loans
1-877-236-7670
Hope this helps you. Best of luck.
fireyone



Joined: 26 Feb 2008
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Posts: 4246



130 Magic Points

 
Posted on Tue Jun 22, 2010 3:06 am  

Jaded, If a company could do that for you I wonder how you could not give them a call and try to negotiate on your own. I do advise being careful with some of these types of places some end up making your credit report a mess by not paying the debts for many months.
Deedkpa
Guest






Subject: possible restructure
 
Posted on Wed Jun 30, 2010 10:01 am  

I tried the restructure route with a company called yourpaydayloanhelp.com and would deposit money into an account in my name every month, not one of the debts was settled and they took over a 1000 dollars from me. When I checked the account there was only program fees being taken out and not one debt was paid. It is a good idea to close your bank account so you can get control over your finances and pay them on your terms. It is probably best to just negotiate something with the company themselves.

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