This company over charges to do payday loans and refuses to provide me with a copy of the agreement they claim we have. Around January 2011 I got a $200 loan. Since I got my $200 loan, I have paid $79 a paycheck totalling over $1100!!! I have instructed them to stop taking payments out of my account, and they continue to do so.

The loan process started over the phone and I was then instructed to go on to the site to complete the loan. When in fact, me signing onto the site put me into a loan agreement automatically. I can't get caught up to pay the full amount because they keep taking my extra money I do have as an interest payment. I have been trying to resolve this since March, as you will see in my correspondence between PDL and myself. I was given no loan agreement to read, ways to alter my loan amount or anything. I have used other payday loan companies, and this one is not working lawfully. I have considered closing my checking account so they don't take any more money, but I don't want my credit report affected.

Here is my correspondence with PDL Now with the first entry being from me:

If you look below, you will see all the enquiries you have sent to us, along with our responses.
Ticket Number Reply From Ticket Number Ticket Type Date You Sent Ticket Date We Replied Status Comment
283165 PAYMENTS 03/08/2011 ------ CLOSED As of today, March 8, 2011 I instruct you to stop payments from my checking account. I never agreed to these charges, nor was I informed of this unlawful interest rate. Please note I do work for a law firm. Leah
283166 PAYMENTS 03/08/2011 03/08/2011 CLOSED Thank you for contacting Customer Service. Our offices are currently closed. Your support request has been received and will be addressed when our offices are open (Mon-Fri 9 to 6 Eastern Time). Thanks, Customer Service
283183 283165 PAYMENTS 03/08/2011 03/08/2011 CLOSED As explained in the loan agreement, in terms of payment, on your scheduled pay date you have 2 options, you may extend the loan by paying the $79 interest only, or repay the full balance of $279 to close the account. All payments will be taken from the same checking account that the loan is sent to. When you wish to pay the full balance, please advise us via the website at least 3 business days prior to the pay date when you wish to make the payment. If we do not receive a pay off request, we will extend the loan, a further $79 interest charge will be incurred and you will have the same options on the following pay date. We do not offer payment plans, installments, pay downs or partial payments. Thanks, Customer Service
330571 GENERAL 07/15/2011 ------ CLOSED Send me a copy of the loan agreement you claimed I signed. I was never informed of the $79 interest fee charge, and I never received a loan agreement from your company.
330591 330571 GENERAL 07/15/2011 07/15/2011 CLOSED We do not have the facility to provide a copy, which is why we prompt all customer to print a copy during the application process. Alternatively, all information about your loan, as well as a list of FAQs can be found on the website. And if you ever need more information, or cannot find an answer you need, feel free to contact us via the Help Center as you have used here. Thanks, Customer Service
335493 GENERAL 07/26/2011 ------ CLOSED You state that I can print a copy of the loan agreement off the website, which I am unable to find. Furthermore, this was set up over the phone, of which I was told that the amount was $200.00. A loan agreement was not made available to me at that time, or any other time. I expect to pay off this loan asap, however, it has become quite a burden to get it paid off when you are charging interest every month that equals about $160.00!! I assume that your company has already figured this out, what a great scam you have going on to take advantage of people. I will be reporting your company to the appropriate entities as a "Consumer Beware" to help protect others from becoming a victim of this loan scheme.
335498 335493 GENERAL 07/26/2011 07/26/2011 CLOSED You as well as every customer that does an application are presented the opportunity to read and print the loan agreement BEFORE YOU SIGN so you are aware of the terms. It is YOUR responsability to read that information before agreeing to it. Please do not hold us responsable for you not reading that information. Thank you, Customer Service.
336159 GENERAL 07/27/2011 ------ OPEN I was not offered a loan agreement ever, and I have looked for one since I spoke to her on the phone. If you do in fact record phone calls, you will hear me asking about my loan options. She said once I signed onto the site, that I could change my loan amount, see the terms, etc. When in reality me signing onto the site put me into an agreement with no options, no loan agreement to read etc. Like I said, good money scheme you have going on. I give you 5 stars for figuring out a great way to take advantage of people during desperate times. I will give you guys 2 days to provide me with a copy of my loan agreement, or I will give this matter to my boss...who is an attorney by the way.

Cassie:
My solution to the problem was that I had went to my bank and paid $25.00 to block all withdrawals from this company. I did this in October of 2011, I believe. At the beginning of March, 2012, I pulled all three of my credit reports and there is nothing on any one of them showing a debt owing to this company or anything related to this debt.
I have not heard from this company since I have done the stop payment, and when I tried to access the log in site to check up on what they have on there, my sign in no longer worked. BTW, my boss is an attorney and he had advised me to do the stop payment.
It is clear that they want you to get you sucked into this scheme. However, since they are doing so and not abiding by US laws, I don't believe we are really obligated by our laws to pay them back. Like you, I paid almost 10 times the original amount borrowed, and I personally believe that is quite enough. I am all for paying back debts owed, but this was getting absolutely ridiculous!
Furthermore, I wouldn't be worried about them coming after me or anyone in the US for that matter, as they have so many violations to our Fair Credit Act that they would more than likely lose in court.
I hope this helps and you get your stop payment processed soon. $79 is the same they took from me every two weeks, and I can now finally breathe and not stress so much about money now that it has been stopped!

Also, there was no loan agreement on the original sign on. I clearly remember that because I was looking for it and it never came up. The one they sent you is more than likely bogus.