Debt Consolidation Forums Payday Loan help forums

PDL Problems, help is appreciated

member profile picture
Posts: 154
Credits: 1981.95
[Donate]

Hello,
I apologize for posting in different places, but I thought maybe the best thing to do is make a new post. I would greatly appreciate any help that anyone is willing to give. I want to make the necessary changes to make my life better and get out of the position I'm currently in. Here is what I have,

I live in Indiana and have 3 pay day loans.

Upfront Payday: (internet) Original amount $500. They originally offered me a $75 fee, and I paid that amount once, then they doubled the fee 2 weeks later to $150 and I paid that once as well. So in total I've given them $225

Loan Shop: (internet) Original amount $300, I've paid them aproximatly $500 with renewal fees since Feburary (OMG That hurts!!!!)

500 Fast Cash: (internet) Original loan amount $300 I have paid them $300 in renewal fees.

I would be very very greatful for any help! Thank you so much in advance, and thanks to those who maintain and operate this community. It's a fantastic idea, I wish I'd seen it many months ago.
Jen




Well we are glad that you found our community and will help you as much as we can as we have all been where you are at. Someone will be along to post your pdl laws for the state of Indiana.

Sub: #1 posted on Fri, 06/20/2008 - 20:42

ladybug ladybug

(Posts: 2757 | Credits: 282.45)

I'm bumping this back up since I see from a different post that Jen is still waiting for information on her PDL loans.

Sub: #2 posted on Sun, 06/22/2008 - 05:32

alias1958 alias1958

(Posts: 1230 | Credits: 79.88)

I appologize for the length of this message :oops:

Okay a couple of things.. after a bit of searching, I found this info here:

You will find the Payday loan laws for Indiana here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-p dls-laws.html
My parents offered to loan me the $840 to try to pay it all off at once so that I would not have to pay $170 a month. PDL Assitance said if I paid the lump amount all at once, they could negotiate faster and I would not have to pay all the fees monthly.. So it would be cheaper in the long run: I want to weigh all my options first. Because I don't want to owe mom and dad more money.. lol.. they are the worst bill collectors EVER!!

Okay, I sent an email to Up front Payday and requested some information (Thanks to a member here for posting a copy of an email to a lender)

Quote:
This is my second request for information on this account. I am formally requesting verification that the company is licensed within the state of Indiana, a validation of my debt and total amount owed including fees, validation of any amounts paid by me towards the principal of the loan, and a copy of my original loan contract and all forms signed by myself, either electronically or otherwise. I will be working with PDL Assistance and will send you the contact information for them shortly.
Thank you in advance.
Jennifer Bailey


I am curious about this particular lender because they changed my fee. The only thing they sent me was a copy of the contract and a message on my answering machine saying they will not work with PDL Assistance because "it is not our responsibility to call them, you took out the loan, you need to pay it back"
The fee on my contract is $75. They charged me that once, then changed it to $150. They ignored the request of money paid toward the principle and validation of license in Indiana. They said in the answering machine message I owe the full $500 plus $300 in fees.

Loan shop I also sent and email to and I've heard nothing back from them at all... 500 fast cash hasn't even tried to contact me at all..

I hope this helps. As you see, I am trying to figure some things out on my own, but I'm getting stuck.

Thanks for any and all help!!!!
Jen

Sub: #3 posted on Sun, 06/22/2008 - 19:56

jennifer_bailey75 jennifer_bailey75

(Posts: 154 | Credits: 19.82)

Jen. . .Welcome! Have you considered settling these debts on your own. I am not comfortable interpreting state laws so I will leave to some more knowledgeable than myself. It does appear though that you have overpaid on one and repaid the principle on another and repaid half on the other. Go back over the figures from PDL Assitance and look at just how much it will cost you to settle basically one loan that has not yet been paid in full. Like I said, please wait for more "concrete" information on the laws, but in the meantime, think about what you have already paid, what you will still have to pay and make an informed decision. Keep us posted.

Sub: #4 posted on Sun, 06/22/2008 - 22:02

llw1995 llw1995

(Posts: 1422 | Credits: 149.03)

That's kind of what I'm looking for. I don't fully understand the laws on these things. I kind of came to the same conclusion you did, but I wanted some kind of back up verification before I try to settle with them on my own. Thanks for the input! I'm not giving up yet... lol

Sub: #5 posted on Mon, 06/23/2008 - 00:11

jennifer_bailey75 jennifer_bailey75

(Posts: 154 | Credits: 19.82)

Okay, over my lunch at work, I found this infomation from the indiana.gov website:

http://www.in.go v/dfi/TerritorialApplication.pdf

It states that if the payday lenders are not licensed in Indiana, the debt is void. Now, I tried to look up the three lenders I had to see if they were licensed in Indiana, and I'm not sure if I'm looking in the right place, or if I need to look up other names, ect. This is encouraging, because when I requested proof of license for the biggest loan, they ignored the request.

Should I send emails to all three requesting proof of license in Indiana?

I'm sorry if I'm posting too much, I'm a bit anxious to try to get this monkey off my back. lol
Thanks again for everyone's kindness and support!!!
Jen

Sub: #6 posted on Mon, 06/23/2008 - 23:13

jennifer_bailey75 jennifer_bailey75

(Posts: 154 | Credits: 19.82)

You can send an email to compliance@500fastcash telling them you have satisfied your debt and are revoking their ACH authorization. You will probably not get an official PIF but about 2 weeks later you will receive an email stating that since you paid off your loan and are such a great customer they will give you a discount on your next advance. SAVE THAT EMAIL.

Sub: #7 posted on Tue, 06/24/2008 - 11:05

bmblbe69 bmblbe69

(Posts: 84 | Credits: 7.37)

I received another email from Upfront Payday today. They are now saying I owe an outstanding balance of $540... :roll: The original loan was $500 and I paid extra toward the principle on the first payment. Does anyone know if these clowns are legal in Indiana? I would love to send them something stating I know they are in violation of Indiana State law. I am curious about the fact that they reeled me in with the promise of a reduced fee $75 and then jacked it up to $150 after the first "renewal". Is that legal? The contract I "signed" said nothing at all about the fee increasing after the first 2 weeks.

I plan to send another email requesting validation that they are licensed in Indiana, but I feel that they are going to ignore that request as well. Any suggestions for wording?

If I can do this on my own, I can use the money I would have paid to PDL Assistance for paying down my astronomical gas bill from this past winter!!!

Here's another one to ponder (though I don't want to detract from the original subject):
I got home from work the other day and went into my room to change out of my work clothes. I heard the phone ring and my son answer. I can hear him saying "What? I can't understand you? What? Do you speak English?" I called him into the bedroom and he says "Mom, what is your cell phone number? This lady is asking me." I took the phone from him and said "Who is this?" I was angry that whoever this person was, they were questioning my 8 year old son for infomation! She asked "Are you Jennifer?" I said "Who is this, and what is this pertaining to!?" She hung up! I was furious, so I got the number off of the caller ID and called them back. The woman who answered was different, and I said "What is this company?" She said "IC Systems" I said "What do you do?" She said she could not tell me anything until I verifyed my mailing address. At this point, I just want to know who they are and so I tell her my address. She then tells me after being on hold for about 5 minutes that I owe Sprint $150! This is the first I've heard of this. I canceled my service with them back in Feburary after my contract expired. She says to me "When are you going to pay this?" I said "I don't even know that I really owe this money" She clicks her tongue and says "Oh yes you do, pay your bills!" I blew up and told her I didn't appreicate their reps drilling my 8 year old for information. She only laughed and then started yelling over me, so I hung up.

Now, is it legal for them to do that? Can they really ply my 8 year old son for my cell phone number or other personal infomation???
Geesh what a mess. :(
Jen

Sub: #8 posted on Tue, 06/24/2008 - 18:35

jennifer_bailey75 jennifer_bailey75

(Posts: 154 | Credits: 19.82)

jen,you can do this yourself.it takes some leg work like others stated,but it sounds like all your pdl's are internet and illegal.fyi,no it is not legal for a pdl or a CA to drill anybody much less an 8yr old for information.file FTC,BBB and AG complaints against these pdl's.llw has great info on processors,if you pm them that would help too.
do this yourself,save that money that would have went to PDL ASSISTANCE for something you need.

Sub: #9 posted on Tue, 06/24/2008 - 18:49

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15506 | Credits: 1356.56)

Thank you Paul,
It's frusterating, but I look at it like this: I'm very fortunate and greatful that I found this site. I've gotten further already then I expected to get, and I did so with the information that I found here.

And secondly, I got myself into this mess, I can get myself out! There is always a way. (I'm a very positive person by nature.)

I think the biggest mistake I made was getting overly anxious and impatient. That is why I sat back and took a deep breath and rethought using PDL Assistance. I realized I made the same mistake jumping into the payday loans.

I'm very greatful for the insite, research, and knowledge that can be found here. THANK YOU THANK YOU THANK YOU!!!!
Jen

Sub: #10 posted on Tue, 06/24/2008 - 19:16

jennifer_bailey75 jennifer_bailey75

(Posts: 154 | Credits: 19.82)

Attachment
More information
  • Files must be less than 1.25 GB.
  • Allowed file types: txt pdf jpg jpeg png.
Post as a guest
CAPTCHA
This question (Case Insensitive) is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Post as a member

Share post

Page loaded in 1.506 seconds.