If these IPLs are illegal mostly, why are we so afraid?

Hi!
I see where you're coming from. As for paying back what we owe legally, I really believe that most people intend to do just that..Sometimes it just might take a little while.

Mostly what causes fear is ignorance. I know before I came to this site I was totally ignorant of PDLS..I didn't even know they were illegal in my state! So when I defaulted, I was terrified, I didn't know what would happen. I think a lot of people are in that position, they can imagine all kinds of nasty scenarios of what might happen after default. But when they learn, the fear turns to anger. I guess the only REAL worry is embarrassment..These companies can and usually do play very nasty and have been known to tell employers and family members exactly what is going on.

Thanks for your post..You can vent any time you want to! :D

I agree there with fins on the embarssament point. I was just that at the beginning of my ordeal, embarassed and ashamed, but i am NO longer! I was scared to death of going to court because of knowing LOTS of people that work there at the court house. But once i found this place i am NO longer either! I made a mistake, all be it a big one, but none the less a mistake. EVERYONE makes mistakes in life! Even as i had to go over to the courthouse and get my case file, i saw an ex-inlaw who works there, she came to talk to me as i was getting my papers. And ya know what?? I was NO longer embarassed or ashamed, she asked waht i was doing and i told her! PERIOD, end of story....
I'm tired of beating myself up over this, i can't change it and i'm "almost" glad now since i've learned SO much over the last few months! Knowledge is power and i feel like i have re-gained some of my power back!
I wish everyone here nothing but the best,
Ang

I agree with Fins...none of us really understood what was happening until we found this site. And some of the state laws are different too..once we find out what we can do...and I agree we all want to pay what we legally owe...then we worried about the embarrassment of it all...seems like we feel this was a "back door" issue and don't want our friends or family to find out. The thing is there are so many people involved in this and the shame is what keeps every one quiet...and the PDLS know this. I have started to spread the word..I don't go into extreme detail but I have explained to family and close friends and even my staff at work what has happened. If I can keep just 1 person from making the same mistake then what has happened turns into a good thing.

I SO agree morning!! If only i can help ONE person and inform ONE person than i think it's a good thing!
Let's stay banned together and keep fighting for our rights!
Ang

Morningstarr, you are a wealth of wisdom. I was completely ignorant to the fact that I really thought I was going to jail if I didn't pay. I didn't know any different until I found this site, THANK THE LORD!!!!

I would have continued to pay them and not have money for my bills, it is just starting to sink in that we have control over our money now. Not them. My account is now overdrawn but maybe they will finally close it since asking them doesnt' work!!!

Oh Bflow...I am sure now that you owe them money they will close your account..LOL. Just make sure you contact the bank and the corporate offices...I will fight these cahrges as diligently as the pdls as long as I can. Some people have been with the same bank for years and years, with never a problem..and the minute they need help everyone disappears!! I think all the banks need to give us way more info from the beginning as to what the policies are and how certain transactions are handled.AND WE ALL NEED TO LEARN TO READ THE SMALL PRINT ON EVERYTHING. I believe more of us would have been so much more careful if we understood upfront what the implications were.

Morningstarr, I don't think you can say enough times that we need to read the small print!! That is one of the most important things! If I had read it, I really believe (at least I hope) that I would never have taken out any of those nasty loans. I've been done with them for a year and a half now, but I will never ever forget the way it felt.

Yeah, like cashtoday that NEVER goes down until you call and pay it in full. Mine was a decreasing amount started at 80,75,70,65,60,55,50,45,40 then holds at 40 until I call to pay them 279. And with NO documents, I had no idea..

Yeah, having no documents for a loan (like Cashtoday) can be a double-edged sword. Sometimes it's nice to have on paper how they are actually screwing you over!

That's exactly how GFSIL works too Bflow...ooppps...dba...only they stop at $35 a week till your pay off of the original loan.

I guess I have learned a serious lesson here, actually, a couple of them.
First, STAY AWAY FROM ANY TYPE OF PDL, BEING BROKE IS BETTER!!!!
Second, Don't hide it from your spouse, LOL :oops:
That causes more problems than working it out together!

Is it possible to ask your bank to stop payment? Or do you have to get a whole different account?

My bank not only stopped payment, but also closed that account and re opened me a new one that no one has! So I have finally began the journey to getting back on track financially again!

A bank will do a "stop payment" if you're talking about just stopping the payment on a certain transaction. However, if you're asking because you have pdl debits coming out, it's impossible to "block" or "stop payment" on just one. They go by many d/b/a's. That's why it's safer to open a whole new account at a whole new bank. Your bank could put a "freeze" or "debit block" on your account if you can't close it. That way no debits will go through. However, like I said, it's safer to go to a different bank and open an entirely new account.

Cannr is right - Please read this important info about closing your account

http://www.debtconsolidationcare.com/paydayloan/close-account.html

Sometimes you have to be very firm with the bank. They will tell you they can't do anything to help, but that is crap. They can. Don't take no for an answer.

Yes, and a lot of times you get a CS rep that has no clue what they are talking about. I actually called my bank last week and was inquiring about putting an ACH debit block on my account. They CS rep couldn't help me with any info, so she transferred me to the "ACH Dept.". The guy I got on the phone had NO CLUE. He was telling me he never heard of doing such a thing.

I hope they monitor these calls because it was a disgrace.