Let the games begin!

We do believe that you have a moral onligation to pay back what you borrowed. We do not make any judgements, but you have to live with your choices. Ultimately the choice to pay back or not is yours

If I was in your place, I will confirm with the attorney general of your state whether you need to pay to the storefront lender or not because you found their license to be expired. Another thing that comes in my mind is when did you take the loan? If the license expired after your taking the loan, you are still responsible to pay the principal amount. And if they have granted you the loan after having their license canceled, the contract will turn as null and void. However, you should confirm this information with the AG's office.

I'll do that checking with the AG.

Lets talk about morals for a moment. These lenders prey on us we all know that is a fact; so why friends would it be so wrong to turn the table and give them a taste of how it feels? Nothing wrong with whipp'n the school yard bully is there?

My point is here we are with hands around our necks when it does not have to be like this. These lenders could have a far better business model then they do but no they have choicen to push everything to the limit so I will do the same to them.

Like I said, it is completely up to you. For myself , I did borrow the money, I did use the money, so I do feel that it is the right thing to pay back what they gave me. Not a penny more.I don't believe that 2 wrongs make a right. In the end these places will hopefully get what they deserve, but I am not about revenge at this point. I am about getting myself financially healthy.

I agree with both parties I'm afraid......... :o

I have to say I agree with Kash....and to the point that it is everyone's own choice. I just felt it was better for me not to stoop to their low standards..this way I feel I can hold my head up high...

What they gave, not a penny more, and I'll add that there will be not speed record broken on the repayment. I need to get that much blood out of them.

Curly,
I really do know how you feel. It would be a lie to say that I never felt that way. Of course I did. But for some reason (moral obligation) i dont know, i decided for me to try to pay back what i owe. I started with 7 online loans. I have recieved 3 PIF. It takes some work, but it can be done.

It definitely comes down to a personal choice. There are many here who agree with both viewpoints. I personally feel if you borrowed the money in good faith, and with intent to pay it back, then to intentionally not pay it back just because you discovered that the lenders were not operating legally makes you no better than them. Again, not trying to start a firestorm, just stating my opinion - and that's all it is - my opinion. I'll put it this way - your statement shown below reminds me of something else I've heard often...

The online ones are going to take it on the chin with me I am their cost of doing business

Now what if you were shoplifting? The statement has often been made "they won't miss it...they have insurance for this sort of thing...they'll get paid back for it out of their insurance...cost of doing business in retail".

Once again, this is just my opinion, but I feel very strongly that if you borrowed the money, it should be paid back - but only what is legally owed according to the laws of your state - not their extravagant interest rates and "fees".

well i have no idea what is legaly owed according to my state laws

Years ago I had $117,000 worth of back surgry done with great results, new man but it turns out that someone at Blue Cross did not quite understand what was going to be done when they ok the surgry. I wound up paying $21,000 rather then $1200 which I finished paying last year. Did I owe that money? I did not think so but the credit reporting companies sure did. I battled for a year and then started paying.

When I was going to school in the 80's the business school I was attending was not certified to teach the course I was taking. When I found out I switched to another school that was. The first school did not return the balance of the loan to the lender. I paid on those loans for years before I found out that Texas, in 1992 did not renew their license because they did not return money that they should have. I found this out 2 years ago, I paid over 17 grand in interest on money I did not owe. That case is pending at this time but I paid that loan.

Stealing from a drug dealer is what it is.

This thing got spell check?

Tweety - pm me and maybe I can help you with that!
:-)

There are so many threads that include this topic and I have posted this before...and it is my opinion...for what it may be worth. Both sides of the fence have their valid points. In the end..you have to look at yourself in the mirror every day..you do what you can live with. No excuses, no justifications, just own it. Every person is different and that is ok. I overpaid all of mine before I found this forum and never had the dilema. I could say what I would do and what I think is right but bottom line is I would have to live with it.

Curly be careful!! Most PDLs in Texas are turning to CSO's and letting their licensing expire. I fell for one. If yours are CSO's then unfortunately they are legal. Personally I am pissed as hell at it, because it smacks of deceptive practices to me as if they look like a PDL...smell like a PDL...act like a PDL...well...it must be a PDL. :twisted:

Ya you right that CSO thing is a stinker but still they still operate in the realm of credit and there for anything done is civil, not criminal so as long as i am willing and do pay what else can they do but wait for me to do so?

I work in Mexico, i don't have a bank account that I use to any extent I deal mainly with cash. They can't garnish my check, unless they want to go international with it :lol:

I don't know I'd just like to be a thorn in there side for awhile, few letters to the paper, local news station here does reporting on these kinds of folks since El Paso has plenty of poor folks getting ripped of by these guys. I single, old and cranky I'll go a few rounds see where it goes.