Debtconsolidationcare: Internet's first get-out-of-debt community
473,117 members

Internet's first get-out-of-debt community 486,031 members


Debt Consolidation Forums Payday Loan help

PDLs - Should I Fight Them or Let Someone Else?





Sub: PDLs - Should I Fight Them or Let Someone Else?
Thu, 24/04/2008 19:17

From reading the messages regarding PDLs I am not sure if I have all the info needed to fight these PDLs. All that I am listing are licensed in AZ. I can't find a site that tells me if they are members of CFSA.

Secondly, for the ones I have over paid I am not sure how to approach them. Do I write them a letter or call and let them know they owe me a refund and I am not planning to pay anymore?

Last question, I have a quote from a PDL settlement company. Has anyone ever heard of PDL Assistance? They claim to be able to negotiate a settlement for 70% or less, and they do all the paperwork. Their fee is 30% of total outstanding loans they have to negotiate plus $200 to start. Good deal or not?

Below are the loans I have and how much in fees I have paid.

The companies I am dealing with are:

1. Paycheck Adv-Short Term Loans - Borrowed $450 - Paid $860
2. (Check Advance) Valued Services of Anozira - Borrowed $400 -Paid $430.
3. Ace Cash Express - Borrowed $500 - Paid $640
4. (Check N Go) Southwestern & Pacific Specialty Finance - Borrowed $500 - Paid $880
5. (Advance America) Cash Advance Centers of Arizona - Borrwowed $500 - Paid $985
6. Pay Day Loan Store of Arizona - Borrowed $400 - Paid $440

All storefront store and are licensed in Arizona.



Article Rating: 
Unregistered

Sub: #1 I am definitely going to do this on my own. The PDL Assistance Thu, 04/24/2008 - 19:17



I am definitely going to do this on my own. The PDL Assistance company was nice enough to refund my $200.

I still have 3 companies that were not with the CFSA and I will set up a payment plan with them once it goes to collection. My question is do I need to revoke their ACH privilege so they don't try and send the original check in?


cannr
cannr

Posts: 9226
Credits: 129842.55 Send message to cannr

Sub: #2 Carson, thanks for your input! :D I believe johnny is going toWed, 04/23/2008 - 20:52



Carson, thanks for your input! :D I believe johnny is going to try to do this on his own. And, you do have a valid point. They're doing nothing you can't do on your own. It's just that some people don't want the "hassle" of dealing with the pdls or the phone calls, etc. It's up to the person as to if they're up for it or not. If not, that's okay. Go with a company, but if you're up for it, then do it yourself. It's a bit frustrating; however, it certainly can be done on your own, and you don't have to pay someone money to do it for you!


Unregistered

Sub: #3 PDLs - Should I Fight Them or Let Someone Else?Wed, 04/23/2008 - 19:38



I think you should fight them yourself. I called
PDL assistance and they told me the same $200 for enrollment. How it works is they set up an account that you deposit to and once those deposits are half of the amount they can settle on they contact your PDL companies. In the meantime, your loans are in default. The guy at PDL assistance told me that you will need to close your checking account because the PDLS can do electronic check conversion and your bank will push through this debit and overdraw your account. The PDL assistance place is doing nothing different than you can do by yourself. I almost bought into it but I sat and thought about it.


cannr
cannr

Posts: 9226
Credits: 129842.55 Send message to cannr

Sub: #4 Oh! johnny, then they did actually "do you a favor" by doing thaTue, 04/22/2008 - 04:00



Oh! johnny, then they did actually "do you a favor" by doing that. They're letting you "catch up", get current, and then start the EPP. That's great! Keep us posted on how things are going for you, johnny!


Unregistered

Sub: #5 Thanks Cannr, The reason they gave is because I didn't come tMon, 04/21/2008 - 18:30



Thanks Cannr,

The reason they gave is because I didn't come to their store on last Friday, nor did I call, so I guess I got lucky that I still had time today, especially with the 2 stores that are members of the CFSA.


cannr
cannr

Posts: 9226
Credits: 129842.55 Send message to cannr

Sub: #6 Okay, your CFSA storefronts, you actually only owe what the amouMon, 04/21/2008 - 17:03



Okay, your CFSA storefronts, you actually only owe what the amount of the check is written for. For example, if the check is written for $575.00 and you received in cash $500 (because the rest is their fee), you should only pay back the total amount of $575.00. Why they are telling you to extend it one more time is beyond me. I would question that big time with them.

And actually, regarding the others who are not CFSA members, you probably DO want to go this route. A lot of storefronts have a policy that they have to have the check returned by the bank before they will set up payments, so this is not uncommon. Once it comes back to them, either they will set up payments with you or just turn you over to collections and they will set up payments with you. Personally, I lean towards being turned over to collections because local storefronts have a tendency to harrass the hell out of you. One of mine made me call EVERY SINGLE DAY and tell them I would be in on Friday to make my payment. EVERY SINGLE DAY I had to call them and say "Yes, I'll be there Friday." How friggin stupid is that? The ones that I paid through collections through the corporate office never bothered me at all. I just made my payments - period. I hate local storefronts. Only because it depends on the managers. And some of them can be complete jerks.


Unregistered

Sub: #7 So I called all 6 of the PDLs I have and only 2 were members of Mon, 04/21/2008 - 10:19



So I called all 6 of the PDLs I have and only 2 were members of the CFSA. But what is interesting about those 2 is they are saying that I have to first pay another extension amount then they are allowed to set me up on an EPP, which will also include another interest/finance charge with the principle. I thought the EPP was only suppose to be the principle amount only. Can someone verify this for me?

Regarding the other 4 PDLs, they are saying that my checks have to attempt to go through my bank account first. If the check bounces or not go through for what ever reason, including stop payment, they will charge me another $25 then send it to collection. Once it is in collection they are then allowed to set up payment arrangements. So far now they are telling me to wait until the check bounces and then they will call me to set up a payment arrangement. Is this the best way to settle these?


Unregistered

Sub: #8 Ok so my loans are legit. Can I work out payment plans that donMon, 04/21/2008 - 08:52



Ok so my loans are legit. Can I work out payment plans that don't include interest charges are does it depend on the PDL? Should I keep the stop payments on the checks I sent or do I need to place a hard hold until the payment plan is completed?


cannr
cannr

Posts: 9226
Credits: 129842.55 Send message to cannr

Sub: #9 Yes, it makes sense. I just saw that some were giving you adviceMon, 04/21/2008 - 04:22



Yes, it makes sense. I just saw that some were giving you advice that you had "overpaid" and should ask for a refund. No. Your state allows 3 rollovers. So, you're paying extra fees, which is bumping that amount up. They are abiding by your state law. They are not breaking the law. You have not overpaid. It gets confusing when because some states don't allow rollovers/extensions, so we can usually tell by looking at the amount if they've overpaid. In your case, the amount jumped out because it was so high. However, like I said, they are following the law, as you are taking them up on the extensions. Did you get my post regarding keeping in constant contact with the storefronts? johnny, it's very important if you don't want them calling everyone in town that might be associated with you. Storefronts will call the crap out of you and your references if they don't get to talk to you.


Unregistered

Sub: #10 Ok, to clarify how I am paying. Every two weeks I am only payinSun, 04/20/2008 - 19:40



Ok, to clarify how I am paying. Every two weeks I am only paying the interest on the amount borrowed. For instance I pay Advance America $75 every two weeks for the $500 loan. After 3 times I have to renew the loan. I do this for 6 loans I have. I estimated the total based on the number of weeks I had the loan by the interest charge. Does this make sense now?


Pages

Add new comment

Full HTML

  • Web page addresses and e-mail addresses turn into links automatically.

Filtered HTML

  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <blockquote> <code> <ul> <ol> <li> <dl> <dt> <dd><img>
  • Lines and paragraphs break automatically.

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
CAPTCHA
This question (Case Insensitive) is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Enter the characters shown in the image.
Share post


DEBTCC "Share and Win iPad" Contest

Follow and like DEBTCC



& "Get Social" for your Chance to Win iPad!!

WIN A FREE iPad

Get Social for your Chance to Win iPad

Page loaded in 0.518 seconds.