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Can anyone help me with PDLs?

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I have these payday loans out, and am not sure just what to do on them. I contracted PDL Assistance, but am not sure if they can actually help me, or if I should do this myself. Here are the loans I have out:

Paycheck Today 300 / 180pd
B.I.G. Ltd. 200 /0 pd
CashAdvanceNetwork 300 / pd 180
Loan Shop 300 /135 pd
CashCentral (L&G Finance, Inc.) 300 / 76.03 pd
Amscot (walk-in) 500 / 0 pd (renewed many times and paid 51.00 per renewal)
ameriloan 300 / 270 pd
Magnum Cash Advance 346.18 / 391.08 pd

I live in Florida. I cannot afford to pay PDL assistance over 200 dollars a month to settle these. What is the best course of action?



Well, first off Welcome! And yes, you can do this yourself. It will take your time but if you follow the advice of the good people on this board, you will be guided, step by step. You are off to a good start. You have listed your PDLs, how much you borrowed and how much you paid. All have been underpaid but one, and that too is a good thing. I am assuming that most are internet, except maybe one? You have also indicated you live in Florida. I would suggest you read the sticky at the top of this page regarding closing your bank account. That is first and foremost in gaining control of your money. You will also need to send out a C and D letter to the PDLs to inform them of many things. You can find the template in the do it yourself section, also at the top of this page. Someone will be along shortly to post and interpret your State Laws for you. That will allow us to advise accordingly. Hang tight. . . help is on the way.

Sub: #1 posted on Wed, 07/23/2008 - 20:30

llw1995 llw1995

(Posts: 1422 | Credits: 149.03)

I live in Florida also. Amscot will work with you in a payment plan as they are a member of CSFA. You have paid back Magnum. Florida Legislature just amended Chapter 560 of the Financial Act. I am waiting for an interpretation from a manager of the Florida Division of Financial Services as to how it will affect Internet Lenders. I will post that as soon as I have it here and in a separate thread. The laws that will probably be copy/pasted here are not applicable to internet lenders. They apply to storefronts only.

Sub: #2 posted on Wed, 07/23/2008 - 20:54

Frogpatch Frogpatch
Moderators Cum Industry Expert
(Posts: 5381 | Credits: 652.52)

Now that is interesting, frogpatch. Is this recent, or has it always been regarding internet loans in Florida? This is why I leave the "interpreting" of State Laws to those who know what they are talking about.

Sub: #3 posted on Wed, 07/23/2008 - 21:33

llw1995 llw1995

(Posts: 1422 | Credits: 149.03)

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