Too many PDL Loans

Hi Debbie. What loans do you have, how much, and are they storefront or internet? Good start at opening a new account.

Please list for us what companies you have loans with.
Are they internet or store front. How much did you borrow, how much have you paid. Also tell us what state you are in. Some one will be along soon to help you. You have come to the right place.
Also you might consider closing your old account so PDLS dont keep hitting and opening an account in a different bank. Is your new account in the same bank?
This is what most of us have done.

kash, this member is in NEW YORK! Help them! :D Seriously, please post what pdl's you are dealing with, they are internet I am sure, as pdl's are illegal in New York. We need the names of the pdl's, the amount borrowed (principle only) and the amount paid back. We can help you here! There are other NY'ers to help! :D

Correct Cannr. I am from good old New York. I am more than happy to help, but first we need Debbie to give us the info. Hey do you think I will ever make "debt samaritan" ?It would be an honor.I still am learning. Great thing about this forum, each day you learn something else to help on this journey

Debbie
There has been some confusion as to the NY laws. Although they are illegal some people have gotten mixed messages. We have been told by some , that although they are illegal, if they are licensed at all in any state, that we need to follow the laws of that state. As I said that is not what we all belive , and for now most of us New yorkers are going under the assumption thar PDLS are illegal.End of discussion ILLEGAL!!!!

CashinaWink - $300.00 - $105.00 every 31 days or payment of 405.00 to pay it off
Worldwide CAsh -$200.00 - 89.00 twice a month - or 289.00 to pay it off
Ufrontmoney - $139.00 twice a month - for 10 months - I have I think about 6 left
Itsmypayday.com - $300.00 - Fiance fee whcih is at 90.00 10& of the loan which is 30.00 - $130.00 - it goes down about 10.00 a paycheck
SENDMEMYLoan.com - $300.00 - 75.00 x twice month -+10%

I am so embrassed that I did this - I can't beleive I got into this mess - I closed the account because I paniced this monring - I have tried contacting most of them to see what can be done - Help please

how many months have you been paying these. Let me know the total you have paid each. I bet most of them are already paid off. Do not be embarrassed.We make no judgements here.We have all been where you are , and all we want to do is help

Debbie
Here are the laws for NEW YORK

New York State Information here http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

debbie, closing your account was good! Panic came in handy here! LOL! Now, when posting your pdl's, please post the amount borrowed (principle only) and what you paid off total so far. Do not put the "fees" the "extensions" and all the other illegal stuff. Put the total amount you have paid them so we can see what you've more than likely overpaid! We can help you here, debbie! :D

Cash in a wink - $300.00 - Paid 105.00
Itsmypayday.com-$300.00 - paid 670.00
Upfront Money - $300.00 - paid $540.00
Sendmebyloan - $200.00 - paid 75.00
Worldwidecash-$200.00 - nothing paid
Its worst then I thought

KASH, JEN, MPEREZ! Calling all New Yorker's! Can you help Debbie figure out her amounts??? Thanks you guys! :D

If I am correct -
Itsmypayday.com - Loan 300.00 - fin.fee $100.00 per pay check -twice a month - 5 times - then I paid $140 then 130.00 - so about 80.00 went to the loan?
Cashinawink - 300.00 - its 105.00 every 31 days or until I pay it off - 405.00 (which will be forever)
Upfrontmoney.com - 300.00 - 135.00 x a month for 10mos - I did at least 4 payments $540.00 - they throw in phone cards - which I never used
Worldwid cash - 200.00 - 89 x 2 each month or until the loan is paid off 289.00 -
Sendmemyloan - 200.00 - paid 75.00 - which was my first payment
I guess I really scared about being sued or coming after me - my account at the bank is still opened - with 50 cents in there - I still have to close it - new account is all sent up - can they garnish my wages - I don't have a prolbem with paying back what I borrowed - but in this way I will be out on the street.

debbie, they are illegal! Close your account! Don't worry about going to jail! I swear, jen or kash or mperez will be along. I'll pm them. They are in New York. They can tell you. Hang on!

Debbie
Kash to the rescue!!!!!Please do not worry. It is actually better than you thought. Its my Payday is paid. You have over paid them $370.00
Upfront is also paid in full. You have overpaid them 240.00. Please get to these companies.Advise them of their illegal status in New york , and demand Pif (paid in full) from them. Then please start to hound them for refunds.
Close your account ASAP so no more debits come thru. Call the remaining companies, advise them that you are filing your complaint letters, and make arangements to pay them at your own pace. I believe that because of their illegal status you are actually free from them, but we do advise people to pay what they borrowed. I hope this helps a bit to ease your mind

Since these loans are illegal in NY, you would only have to pay back the principle. If by chance you want to pay them the 25% interest NY would allow had they been a legally operating company, you would do the following:

Principle Amount x Interest Rate x Length of Loan/365 days in Year

Since PDL's aren't allowed in NY, rolling over isnt' allowed. So you would only want to pay 2 weeks worth of interest.

So for a $300 loan for 2 weeks you would:

300 x .25 x (14/365) = 1.9178

So you would owe them $1.92 in interest, making the total payoff be $301.92.

GO GOUDAH! :lol: Thank you!!!!

I feel much better now - and I will go ahead and close my bank account - I will inform all compaines those who I have paid - about it being ilegal in NY - and the others I will send a note and make agranements to pay so much each month - to pay the oringal loan off - will keep you posted - I still may need some moral support from you guys - but again thanks agina

You will get all the support and advice you need, We are always here.
Please Deb, also start to hound the companies for the refunds that they owe you. I mentioned the two companies in my earlier post. good luck with that.
keep us posted as to your progress.
Please first things first, make sure your account is closed so the debits will stop. Open another account in a different bank , and DO NOT give your bank account number to anyone. BE SAFE

I feel empowdered -- I emailed upfront money and itsmypay.com - to let them know what I paid - and that I contacted the attoreny generals office and was told these loans were ilegal - and now I just offical closed my bank account - I will work on the others tomorrow -thanks again

If you have any question while doing your letters, or if the pdl's start calling you and you freak, come on back. Just post and we can help you through it! No question is a dumb question! :D

I second what Cannr said!!!. We will try our best to get you any help and answers that you need.Remember that we have all been there and we have all felt the way you feel.Again, keep us postedh

Account has been offically closed - I have a new bank account in a different bank - I sent out two emails to the ones I paid off - lets see what happans - I am getting the complaint letters together and who knows there maybe a light at the end of the tunnel -- Thanks again for all your help and support - its funny that I can honely tell strangers this whole thing but to family - Have a wonderful night and I will keep you posted

Awesome! First step done! Congrats! And there is light at the end of the tunnel. We've all been there, and made it through!

Be sure to keep us updated and ask any questions along the way. Have a good night too! Relax a bit. Enjoy your family!

I contacted Upfrontmoney - they said because this was a rebate deal - that I would have to pay the cancellation fee of 434.00 - or they could break it up in 3 payments for phone cards which I never used..I said I did not have the money - I did not want the cards - and if I have to pay back I could only afford 50.00 which I would send by money order

Wait a second - This is a rebate pdl?

Cancellation Fee???? Thats a new one.Deb, have you paid this company what you they lent you?
I certainly would NOT send them 434.00 for any kind of a fee.Not even at 50.00 a month. Correct me if I am wrong some one, but I say DONT SEND IT

Rebate pdl's are totally different then normal pdl's . . . . And they are HIGHLY illegal. If this is a rebate pdl then it needs to be dealt with a bit differently.

I am going to show my ignorance but I want to learn. What is a rebate Pdl?

Goudah, Please explain the difference.

goudah, I read something on here once about this place. Apparently, you sign up for these "phone cards" and the perk of it is that you get a loan also. So these people are sucked into getting these phone cards & pay an outrageous amount of money for "phone cards" supposidly. Crazy, huh?

Payday lenders will use every loophole, try every tactic, exploit any opportunity to trap consumers in debt at triple digit interest rates

I would say that 90% of all the pdl's that AG's have gone after have been these rebate pdl's. They are highly deceptive and illegal.

A rebate pdl is when the company offers you a rebate in exchange for purchase of merchandise. Example - They give you $100 in cash in exchange for the promise to buy a $50 phone card every 2 weeks for 5 months.

goudah, OMG! What you quoted is amazing. OMG. How many people have fallen into this trap. I'm so glad you posted that. Very informative and also a good "heads up" for people who come across this and are tempted. You are the research queen! Every day I learn something new that you have found.

thanks for the explanation and the forewarning.

Well - I purposed to them a payment plan that I could work with - paying also by money order - I hope that they agree and get myself sorted out - so at somepoint I could pay them off with a credit card

goudah, are they even "legal"? Like have to have a license, etc. that we can check on? I mean, to have to pay this kind of money is unimaginable.

Itsmypayday has not gotten back to me - I am sending off emails to the other compaines and lets see what happans - I don't know what else to do...

Debs
I got a pif from ITSMYPAYDAY yesterday. They were not very hard to deal with. Good luck

deb, do you have the correct contact information for your pdl? I believe they are National Opportunities, kash? I told you, my mind is not working today. And all my stuff is at home and I'm at work.

What state are you in deb?

Wait - Deb, you are in NY, right? NY has sued several outlets doing this same pdl scam. I would file complaints against them asap.

Yes they are Natl Oppotunities - I am going to file a companit against them and the others that I have outstanding - especailly them since I paid that one. As for the others - I dont' have a problem paying back what I owe them - but I need for them to be willing to work with me - and one payment a month - by money order -- otherwise - but I still will compain about all of them

Yes they are national Opportunities. You just need to be persistant with them. Eventually they cave.
If you need help ,just ask. Again, I did not have a very hard time with them

As long as you have the information. I just wanted to be sure. File complaints on every pdl you have! Every single one regardless of if they "work with you" or don't. They are still prohibited in your state. File with the BBB, the FTC, and your state AG.

Thats what I am going to do - If anything maybe they will be stopped so nobody else has to go through this. I have been reading all these different post - and prosper.com is good - but being in NY and the capp on insterst - did not help me at all - I tried several lisings - but anyone in different states should try - and join a group - alot of the groups are for people with payday loan problems - Its a thought -

I just been reading all the post and have contacted T&C and all is good - my monthly payements will be a lot easier to maintaine. And I don't have to stress over these people and spend half my life dealing with them. I will still file the complaints against these companies as they are illegal.... But truth be told I did borrow the money -which should be paid back - but not at those interst rates... I feel a bit better - be glad when its all in place...and I can feel human again - I wanted to thank everyone who got back to me with there advice - its great to have this and will keep you all posted and well everything is due on the 31st - should be a fun day - again thanks for all the support

deb, glad to hear you're feeling better! A lot of members use a company to help them out of this mess. More power to you all! It will be easier & you won't have to fight as much as if you were doing it on your own. So, I'm glad to hear that. Anything that makes you feel like a "person" again! And, please do file the complaints. Even though you have someone helping you with these companies, like you said, they are still illegal. They need the complaints filed. Keep us updated on your progress! Keep it up! :D

I contacted National Opportunties -and told them that the loan was for $200.00 and I paid about 800.00 - it was paid in full and that I that I talked to the AG in NY and he said these types of loans were ilegal - well I have not heard back from them - so today I went in on their site and gee I could have a new loan if I wanted - I would still want the PID from them - but hey that really worked - thats one down...Yea
Thanks again for all the help and advice - I am going to do that with the other ones and with the help of T&C I think all is going to be ok

deb, you don't want another loan with National Opportunities? LOL! :lol: Sounds like you're on the right road, my friend! Keep it up and keep us updated! Any problems, just post and we're here! :D

I was just curious - Never ever again - I will do without - I will cash in pennies - I will eat tuna fish for days - never let myself get into that situation again - and if all else fails - ask family for a loan - its embarssing - but not as much as this nightmare has been New bank - new steps to get on with the future...