Online PDLs

FYI - Wisconsin doesn't require a lender to be licensed in WI or follow WI law in this case.

This means that it is possible some of the loan companies are legal companies. They would only need to be licensed in a US state for them to be legal.

Above reply dated 10 Aug 2008 03:53 belongs to firstwizard. Must have taken too long to finish and was automatically logged off.

Thanks, Shazzers, for the welcome and the information. Here is the list of PDLs, the amount borrowed from each, and the amount paid to each.

1) CMG Group: Borrowed 200; Paid 240
2) DJR Group: Borrowed 250; Paid 300
3) SSM Group: Borrowed 300; Paid 360
4) TJF Corp: Borrowed 300; Paid 360
5) Vince Enterprise: Borrowed 300; Paid 360

NOTE: These 5 accounts apparently were purchased by National Credit Adjusters. The total amount borrowed from these 5 PDLs is $1350. The total amount paid back on these 5 PDLs is $1650. NCA claims we owe a total of $2100 on these 5 PDLs. NCA has offered to deduct 25% ($525) from the $2100 if we make a one-time payment very soon. Do I pay the $1575 making our repaid total $3225 on a loan total of $1350?

6) Ameriloan: Borrowed 300; Paid 360
7) a2bcash: Borrowed 400; Paid 496
8) United Cash Loans: Borrowed 300; Paid 360
9) Eagle Finance: Borrowed 100; Paid 107.50
10) Payday Online: Borrowed 250; Paid 400 (My wife set up a payment plan with this PDL after they had already deducted $300 from her bank account. We have paid an additional $100 on the payment plan for a repaid total of $400. They claim we still owe $320. Do I continue to pay the agreed upon $50 every two weeks?

11) Impact Cash Payday Loans: Borrowed 300; **Paid 270 (three $90 payments: (6/6/08, 6/20/08, 7/3/08)

12) Big Limited Loan: Borrowed 200; **Paid 70 (one payment: 6/20/08)

13) Cash Supply: Borrowed 500; **Paid 300 (two $150 payments: 6/23/08, 7/3/08)

**Amount listed as paid to each of the last 3 PDLs is the KNOWN amount. The TOTAL amount paid is questionable as there were some deductions from my wife's account that I could not match (with certainty) to these PDLs.
Here is that list of deductions, and my assertions:

a) Big ACH: $80 (5/23/08), $75 (6/6/08), $65 (7/3/08). Looking past the common use of "Big" I assume these belong to Big Limited Loan - the 6/20/08 payment date missing here shows up under Big Limited Loan payment on bank statement as a $70 payment. If true: total paid to Big Limited Loan is $290.

b) IC Endless Summer Payday Loans: $90 (5/23/08). Looking past the initials "IC" I assume this is Impact Cash. Loan received from Impact Cash on 5/6/08. First KNOWN payment on bank statement is 6/6/08, one month after loan was issued. The "IC" payment date of 5/23/08 fills in the missing 5/23/08 Impact Cash payment date and fits with the pay structure I see in all of the other PDLs. If true: total amount paid to Impact Cash Payday Loans is $360.

c) Payday Payments: $135.98 and $135.98 both on 5/23/08. I assume these belong to Cash Supply for the simple reason that there is nothing left to match them to. If true: total amount paid to Cash Supply is $571.96.

Any and all help on this matter is greatly appreciated. My wife signed up for only two PDLs and ended up with thirteen. We were separated at the time of these occurrences but have since reconciled. I want nothing more than get these things out of my head. I can only imagine what she was going through for 2+ months on her own. How do we make people aware of the dangers of PDLs BEFORE they can wreck a person's sanity?

Also - my wife was threatened with fees of $15,000 and jail time if she did not fax an admission of fraud and her debit card information for $735, the amount she supposedly owes. I called the number (310-775-9069) and gave them a large and vocal piece of my mind. They left messages (three or more times a day) saying they are from United Legal Processing Division but did not and would not identify themselves when I called them. I was passed around to at least five different Indian-accented men within five minutes, each one more belligerent than the last. They hung up on me twice telling me that only God can help me now. Thanks to all those who posted their stories involving this number.

Quote:

Wisconsin State Information Legal Status: Legal Citation: Wis. Stat. ???? 138.09 Loan Terms: Maximum Loan Amount: Not Specified Loan Term: Not Specified Maximum Finance Rate and Fees: No Limit Finance Charge for 14-day $100 loan: No Limit apr for 14-day $100 loan: No Limit Debt Limits: Maximum Number of Outstanding Loans at One Time: No Limit Rollovers Permitted: Not Specified Cooling-off Period: Repayment Plan: Collection Limits: Collection Fees: $15 NSF fee if check returned due to no account open at bank, insufficient funds or insufficient credit. Check presentment limit: two times. Criminal Action: Prohibited (per Wisconsin worthless check law, a check given to secure a loan isn't "worthless") Where to Complain, Get Information: Regulator: Wisconsin Department of Financial Institutions Address: Wisconsin Consumer Act Section, P.O. Box 8041 Madison WI 53708 Phone: (608) 261-9555 Fax: (608) 261-7200 Regulatory Contact: Paul Egide,, Consumer Act Director

Hello firstwizard and welcome to the community, first of all I am moving this to the payday loan section so it will receive more attention, then I will post your laws. We will need additional information though in order to help you plan a course of action, we will need to know how much you borrowed, and how much you have paid back so far. Hang in there and I will post your laws. :)

My wife has a bunch of them: ameriloan, a2bcash, Big Limited Loan, Cash Supply, Eagle Finance, Impact Cash, United Cash Loans, CMG Group, TJF Group, DJR Group, Vince Enterprises, SSM Group. All were transacted online.

Someone will be along to advise you there us a way to check it out but I can't remember the agency that handles this. There are alot of members on here and someone will help you. What is the name of the pdl that will help and if this is an interent pdl or store front.