Trying to pay off an old payday loan

Date: Wed, 09/23/2009 - 09:22

Submitted by arlinda83
on Wed, 09/23/2009 - 09:22

Posts: 17 Credits: [Donate]

Total Replies: 5

Hi to all. I have an issue with this company called PMR Law Group. I have found them to be a rude and unprofessional company. Well, to begin my story, it all started back in 2007 when I applied for an internet payday loan from payday-loan-yes. I had a decent paying job and I could afford to pay it back then. Unfortunately, before I could pay the loan back, I lost my job and this company was very hard to contact. So now in 2009, I am just hearing from them through this PMR Law Group. They contacted my family claiming that an "Investigator Johnson" needed to speak with me about a civil case. So I then called her and she kept pressuring me to pay this loan or she will press charges against me which the loan was $600 and it had ended up being $1,000! I told her I didn't have the money to pay it back. So then she offered a settlement amount of $700 to get rid of the debt so I said ok. Then I gave them my debit card info so I could make payment arrangements to them. So far, PMR did receive payments of $10, $5 (money order b/c I didn't have it on debit) and $40. Well now, I called them to change to a lesser amount from $300 to $50 for this month b/c of rent and utilities I have to pay. The guy was very rude talking about he was going to file charges when I was just simply doing my best to pay this debt off when I can through another job that I now have. Even though I have already sent them payments and he even hung up on me. Sad! So now I am thinking about just sending them money orders from now on and stopping payments to them from my debit card. I do not want to speak to them ever again. Any suggestions and would this be the most feasible way to resolve this debt? thanks

I don't know anything about the PMR group but I will tell you th

I don't know anything about the PMR group but I will tell you this much, payday loan yes is an illegal outfit, therefore you owe them NOTHING more than you borrowed to begin with. You need to get you account closed asap and stop this madness. You also need to inform this PMR Group that they are trying to collect on an illegal loan. If they were any type of legit outfit they would have abided by the FDCPA (Fair Debt Collection Practices Act), obviously they aren't. They CAN'T charge you interest, under Section 808 Unfair Practices of the Fair Debt Collection Practices Act under the Consumer Credit Protection Act, federal law prohibits a debt collector from collecting any amount (including any interest, fees, charge, or expense incidental to the principal obligation) unless such amount is expressly authoized by the agreement creating the debt or permitted by law.

If a debt collection agency owns your account, and you did not expressly enter an agreement to pay interest and fees to that collection agency, than they cannot charge you anymore than what the already existing balance is.

If I were you, I would tell them to shove it where the sun doesn't shine because they do NOT have a legal leg to stand on. Whatever state yoou are in you need to look up your payday loan laws, you can search at the link below.
http://www.paydayloaninfo.org/states.cfm
Educate yourself on your rights. This so called law group who is acting as a collection agency needs to be set straight, click the links below to read up on your rights per the FDCPA:
http://www.pennlawyer.com/fdcpa.htm
http://www.expertlaw.com/library/consumer/fair_debt_collection.html
http://www.fair-debt-collection.com/index.html

lrhall41

Submitted by Shazzers on Wed, 09/23/2009 - 09:32

( Posts: 17344 | Credits: )

Thank you so much Shazzers! now I know who to go to as far as my

Thank you so much Shazzers! now I know who to go to as far as my rights go. I could even contact my state's attorney general about this so called law group for starters. So in that case, i'll just send them only what I owe and if they don't accept it, well they will certainly have hell to pay for.

lrhall41

Submitted by arlinda83 on Wed, 09/23/2009 - 09:49

( Posts: 17 | Credits: )