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First Bank of Delaware Instlmnt loan



goofydreams75

Posts: 6
Credits: 604.9
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Sub: First Bank of Delaware Instlmnt loan
Thu, 14/06/2012 20:49

Hi everyone. I have been lurking here for a while now, educating myself on pdl's. My situation is this. I have an installment loan with First Bank of Delaware. The original loan was for $1300. I have $274 debited every 2 weeks. I have 4 weeks left & the loan is paid in full. Unfortnately, I am unable to make these payments for another 4 weeks. (Making the past 5 payments has put me in the red!) I have closed my bank account this week(due to unauthorized transactions from identity theft).

My next paymet is due the 7th (tomorrow) & knowing I wouldn't have the funds by the due date, I emailed them Monday, the 3rd, to see if the date could be moved back a week. I just received this reply to my email:

"Unfortunately the First Bank of Delaware , the bank that approved you for the installment loan, does not allow the payment dates or amounts to be changed due the apr calculation on the loan.

It is in your best interest that the payments are made according to schedule. We do not want you to have to pay additional fees that may be incurred if a payment is not made on the due date.

Check 'n Go Online is a servicer for First Bank of Delaware . Therefore the underwriting and procedures of the loan transaction are controlled by the bank, not Check 'n Go. Per the loan agreement that you electronically signed, you must pay according to the schedule that was represented to you on that loan agreement."

The checking account is closed, so the payment will not process. What do I do now?



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Debt Samaritan
Posts: 17117
Credits: 394731.62523207

Sub: #1 An illegal payday loan is total different to a legal credit cardThu, 06/14/2012 - 20:49



An illegal payday loan is total different to a legal credit card. I would be sending the attorney a cease and desist letter in writing, demanding they never contact you again. The loan contract is invalid and he has dirty hands trying to collect on it since he should know your state laws.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com...allenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com...imitation.html


Unregistered

Sub: #2 I a getting calls from some attorney now threating to take me toThu, 06/14/2012 - 20:43



I a getting calls from some attorney now threating to take me to court. I'm gonna let them because I'm finding out these type of loans are illegal in the state of PA. ( with the interest rate they are charging. My boyfriend just went to Court with Capitol One and won. So I'm gonna take my chances.


Unregistered

Sub: #3 I am so glad it read these posting this morning I was at the endThu, 01/06/2011 - 05:30



I am so glad it read these posting this morning I was at the end of my rope and didn't know what I was going to do. I had looked at Delware Bank website and just about to apply but this morning these blogs appeared. I know that is the work of God letting me know there is another way. Thank you God and for the person who posted this message.


Shazzers
Shazzers


Posts: 17128
Credits: 158667.35

Sub: #4 Quote:I had a loan with u guys and want to take anoter one for 5Thu, 12/16/2010 - 17:23



Quote:
I had a loan with u guys and want to take anoter one for 500


You have came to the wrong place, this is a public message board who provides advice on how to get out of debt.

Visit my blog-TAKE CONTROL!
CLICK HERE To join my Social group, The Payday-Loan-Free Advocates!
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Online complaints: Federal Trade Commission.
Ohio Payday Loan Laws


Unregistered

Sub: #5 I had a loan with u guys and want to take anoter one for 500Thu, 12/16/2010 - 17:20



I had a loan with u guys and want to take anoter one for 500


JCB
JCB
Posts: 21
Credits: 671

Sub: #6 Did anyone else have problems with them accepting the prepaid caMon, 11/29/2010 - 09:19



Did anyone else have problems with them accepting the prepaid cards?


Unregistered

Sub: #7 I noticed that as well. My emails regarding payment changed, as Wed, 11/24/2010 - 11:22



I noticed that as well. My emails regarding payment changed, as well as their website. Also, your loan seems to be a little more expensive than mine is.. I wonder what all else they are changing

Its alright, I wont use them again. 2 payments left and then I am rid of this headache. To anyone else out there, good luck. Also make your payments on time.. They are sharks. I had to extend a payment on one occasion, which was almost impossible. They dont care about any situation you might be in.. They just want their severely overpriced payments on time. Over 300% interest.... They are thieves letting us do the work for them.


Unregistered

Sub: #8 I have an installment loan with them as well. I borrowed $500 fWed, 11/24/2010 - 08:49



I have an installment loan with them as well. I borrowed $500 from them and I pay $82.39 every 2 weeks. Interest rate just sucks........but they have changed their name to ThinkCash.com, not sure how legal that is? But its still under First Bank of Delaware.I know that when I get them paid off I WILL NOT BE USING THEM OR ANY OTHER PAYDAY LOAN COMPANY PERIOD.


Jitterbugg
Jitterbugg
Posts: 12
Credits: 1161.1

Sub: #9 FBD LoansTue, 11/23/2010 - 10:27



I so agree with you on this! I have 2 more payments and will be so happy to be done with them and one less "bill" to worry about in the new year!


Unregistered

Sub: #10 I completely agree there. I have gotten a loan through FBD, and Mon, 11/22/2010 - 16:16



I completely agree there. I have gotten a loan through FBD, and still have 2 payments left. It was only for 500 dollars, and I am having to pay back 1200. Well over twice the amount i borrowed...

My advice to anyone on here attempting to get a loan.. Dont do it! If you are getting a loan to begin with, then money must be tight. Yea, the money is nice the next day but this loan you just recieved has become another bill. I pay 77.90 every two weeks.. that averages out to be 155.80. Another bill...

You will only cause yourself more heartache and stress by doing this. I cannot even attempt to try and explain how bad of an idea that would be.


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