I have around eight payday loans most of which I have almost paid the entire principal or very close to it in fees. I got on the phone with the Director of the Alabama Department of Banking after I researched and discovered that all the pdl's I had were illegal in my state. The Director asked me to send her copies of all my paperwork which I did and they are now in the process of sending out letters to those that have addresses and trying to find addresses for ones that they don't. The attorney general I believe is involved as well. They want to get these guys so they can get their money in license fees and revenue taxes(believe me with AL they want their money and will do all they can to get that money that was never paid to them).
I was told by the director that if they call me to tell the pdl's to send proof of the debt via mail(not e-mail but regular mail) and that I would not talk with them further until I received that in the mail and leave it at that and hang up and keep doing that until they get the picture that I am not budging until they send me proof of the debt in the mail then I am to send that to the State Director of Banking because she is hoping that their will be a legitimate address on it to send them a nice letter too.
One company e-mailed me and I proceeded to tell them as she had told me to and that I am sure that my State's Director of Banking as well as the Attorney General would love to hear from them.
I have warned each one that has e-mailed me that all paperwork, contracts, etc have been sent to the Director of the States Banking and that they are currently reviewing and researching each pdl since they are illegal in Alabama and to expect to hear from the director or the Attorney General in the near future. No Alabama license means they are not legal in my state.
AL - GLENCOE.We will see what happens. I am tired of dealing with these people and how they prey on innocent people in bad situations. I would happily pay any principal due but I refuse to pay any thing more than the principal. I seriously hope that my state's banking director and attorney general can catch these guys and punish them for what they have done to other people in this state. I know they have already sent out a few letters to some of the payday loan companies so I am anxious to see what happens with this.