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Does anyone know anything about them? Also, are PDL's legal in Louisiana?




Yes , PDL's are legal in LA.

Quote:
Legal Status: Legal

Citation:
La. Stat. Ann. ?? 9:3578.1 et seq.

Loan Terms:
Maximum Loan Amount: $350
Loan Term: 60 days
Maximum Finance Rate and Fees: $5 documentation fee + the greater of 16.75% of check or $45 (After default: months 1-12: 36% per year; months 13 and beyond: 18% per year)
Finance Charge for 14-day $100 loan: $25
APR for 14-day $100 loan: 650%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: None (cannot renew or rollover but licensee may accept partial payment of 25% of amount advanced plus fees and enter into new loan)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: One NSF fee of actual bank charge (if disclosed) + the greater of $25 or 5% of check (if disclosed); Court Costs; Reasonable Attorney's Fees
Criminal Action: Prohibited


Progressive Loan Assistance is a payday loan debt settlement company. Their fees are a little higher than some other settlement companies that handle payday loans. You may want to shop around and compare with other companies in that industry or settle the debts on your own.

Sub: #1 posted on Mon, 07/27/2009 - 14:11

mobile0311 mobile0311
Moderators
(Posts: 1817 | Credits: 104.57)

Yes I know aboout Progressive Loan Asst. and they do not do what they say they take your money and your creditor don't talk to them becaUSE THEY are out to get your money.

Sub: #2 posted on Mon, 11/23/2009 - 08:59

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I agree that I would not get a loan from them, reed. however if the poster already has one out they cannot be ignored as they seem to be legal.

Sub: #3 posted on Mon, 11/23/2009 - 11:50

bea2ls bea2ls
Moderators
(Posts: 3840 | Credits: 370.56)

Progressive Loan Assistance helped me out a lot!!! Was able to get out of payday loan debt in about 12 months. In the beginning it was difficult, because the creditors kept calling but they begin to stop and Progressive begin doing what they said they would and got all of my debt paid off and even got some settled for less then what i owed. They did a great job. You can call there main number and speak with a counselor if you would like. No soliciting.

Sub: #4 posted on Thu, 04/15/2010 - 06:14

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Make sure you find out if your payday lenders are licensed in your state FIRST before you comitt to a debt settlement company, manyInternet lenders are NOT licensed, there is no negotiating with unlicensed lenders.

Sub: #5 posted on Thu, 04/15/2010 - 06:35

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.8)

Shazzers I beg to differ, those unlicensed will settle easier and for way less than the licensed companies, I had a few pdl with some unlicensed companies and one of them I owed 900.00 and settled for less since they couldn't legally do anything to me. The legal companies are the ones that would barely negotiate.

For anyway needing PDL help, I would recommend Progressive Loan Assistance, in Florida. They are upfront, helpful and I used them and now I'm out of my mess I got into.... You just have to make your payments and then the debts go down. Of course their fee is high but it was worth it to me, not to have to deal with the hassle and Progressive employees were very courteous and upfront, they never sugar coated anything and I found them credible and good at negotiating.

Sub: #6 posted on Sat, 08/28/2010 - 06:11

Unregistered


How do i find out if my payday loan lender is licensed in my state? please respond via email,if poss

Sub: #7 posted on Thu, 04/21/2011 - 11:09

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