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PDLs - Should I Fight Them or Let Someone Else?

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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.




Shazzers


Posts: 17419
Credits: 159278.85

Sub: #1 Hello again jonnybgood, I am going to try to help you. I underst
Sun, 04/20/2008 - 16:06

Hello again jonnybgood, I am going to try to help you. I understand your dilemma. I have been scouting around trying to find out if any of these companies are members of the CFSA. The thing is, some are way over paid, so you owe them nothing, in fact, they OWE you.

If it were me, I would call the one below:
(Advance America) Cash Advance Centers of Arizona - Borrwowed $500 - Paid $985


I would tell them they are breaking the laws of Arizona and you are going to file a complaint against them with your Attorney General, you can file a complaint online. Also tell them you demand a refund of the amount that you over paid them.
Here's the link:
http://www.azag.g ov/consumer/complaintform.html

Also file a complaint with your BBB, here's the link:
http://www.arizona bbb.org/file_a_complaint.asp

And file a complaint with your Department Of Financial Institutions:
http://azdfi.gov/CAD/Comp laint_Form.htm

Paycheck Adv-Short Term Loans look like an installment type of loan, are you currently set up on a payment plan with them?

(Check N Go) Southwestern & Pacific Specialty Finance, is this an installment type of loan? If it isn't, then you have over paid them also, and I would do the same with them as I did with Advance America.




Shazzers


Posts: 17419
Credits: 159278.85

Sub: #2 My suggestion to you is to call these companies (the ones which
Sun, 04/20/2008 - 16:11

My suggestion to you is to call these companies (the ones which are "Payday Loan Companies" and ask them if they are members of the CFSA. Usually, a store that is a member has their membership displayed in the store, they don't tell you about it because they want you to pay them off quickly, but they must give you the EPP (Extended payment plan) if you ask for it. :)




Shazzers


Posts: 17419
Credits: 159278.85

Sub: #3 Oh and, you are only eligible for the EPP if you haven't default
Sun, 04/20/2008 - 16:12

Oh and, you are only eligible for the EPP if you haven't defaulted on the loan yet, you must go in BEFORE you default to be eligible.




Unregistered

Sub: #4 If I tell them they are breaking the law is that when they start
Sun, 04/20/2008 - 16:20

If I tell them they are breaking the law is that when they start harrassing me to pay more and won't they send in the check I have placed a stop payment on?

I wasn't aware of any of my loans being installment type loans. If they are does that mean I can make arrangements if I haven't overpaid? If I have over paid, does that mean I should demand a refund as you suggested and file complaints?

Again, does anyone know anything about PDL Assistance? I'm not sure if I should use them or try to get through this on my own.

Thanks!!!




Unregistered

Sub: #5 Does anyone know how to remove or reduce the "need help with deb
Sun, 04/20/2008 - 16:33

Does anyone know how to remove or reduce the "need help with debt" advertisement on the right hand side of the screen? I can't read some of the text.




Shazzers


Posts: 17419
Credits: 159278.85

Sub: #6 Again, does anyone know anything about PDL Assistance? I'm not s
Sun, 04/20/2008 - 16:51

Again, does anyone know anything about PDL Assistance? I'm not sure if I should use them or try to get through this on my own.

I'm sorry it took so long for me to respond, I had a phone call. I really don't know anything about this company. Anyone else?




Shazzers


Posts: 17419
Credits: 159278.85

Sub: #7 If I tell them they are breaking the law is that when they start
Sun, 04/20/2008 - 16:56

If I tell them they are breaking the law is that when they start harassing me to pay more and won't they send in the check I have placed a stop payment on?
Which company was harassing you to pay more? What exactly do you mean by harassing? File a complaint that they have violated your state payday loan laws, they have over charged you in interest, if they are payday loans. This is why I need clarification on the terms of repayment. :)

I wasn't aware of any of my loans being installment type loans. If they are does that mean I can make arrangements if I haven't overpaid? If I have over paid, does that mean I should demand a refund as you suggested and file complaints?

Paycheck Adv-Short Term Loans - Borrowed $450 - Paid $860 That suggests it's an installment type of loan? Can you clarify how you were to pay "Paycheck Adv" back? Were you to pay it in full when it became due?

(Check N Go) Southwestern & Pacific Specialty Finance
This is another one, would you please clarify the repayment terms on this one?



Thanks!!!




Shazzers


Posts: 17419
Credits: 159278.85

Sub: #8 Does anyone know how to remove or reduce the "need help with deb
Sun, 04/20/2008 - 16:58

Does anyone know how to remove or reduce the "need help with debt" advertisement on the right hand side of the screen? I can't read some of the text.

I've had that happen to me before to, I'm not sure how to help you with that one, I wish I did know! :)




cannr

Posts: 9317
Credits: 129842.7

Sub: #9 Okay, these are all storefront loans. They will all be licensed
Sun, 04/20/2008 - 17:20

Okay, these are all storefront loans. They will all be licensed to legally lend to this guest. I'm going to ask johnny a question here. When you go to the storefront to pay your loan off, what EXACTLY are you paying? For example, you posted Advance America. You borrowed $500 and they make you pay $985 to pick the check up? I find this confusing. Advance America is licensed and HUGE and wouldn't charge a person $985 to pick up a $500 check. Let me post your state pdl law so we can all see it.




cannr

Posts: 9317
Credits: 129842.7

Sub: #10 Arizona State Information Legal Status: Legal Citation: A
Sun, 04/20/2008 - 17:21

Arizona State Information

Legal Status: Legal

Citation:
Ariz. Rev. Stat. ???? 6-1251 et seq.

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 5 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: Three (extensions)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: $25 NSF fee + actual charges assessed by the financial institution
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Arizona Department of Financial Institutions
Address: Financial Enterprises Division, 2910 N. 44th Street, Suite 310 Phoenix AZ 85018
Phone: (800) 544-0708
Fax: (602) 381-1225
Regulatory Contact: Robert Charlton,, Assistant Superintendent of Banks




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