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 Posted: Mon Feb 18, 2008 9:28 am
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I received a letter from debt collector smith, haynes & watson and they are collecting debt on a PDL from Netcash USA. I have made numerous attempts since July and never received a response. Now it appears they have turned it over to a collection agency. I had paid them well over what I should have. 810.00 on a 300.00 loan. Can you please let me know what I should do next? Thank you all for all of your help.
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louise25
Joined: 11 May 2007
Posts: 51
Debtcc Points: 1842
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Posted: Mon Feb 18, 2008 9:48 am
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louise25. . .Welcome. I too am fairly new here so I would really defer to some of the more "seasoned" members. Just know that they will give you some great advice and all will be okay. I am sure that someone will be along shortly to help you out with this. Don't worry.
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llw1995
Joined: 02 Feb 2008
Posts: 867
Debtcc Points: 10270
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Posted: Mon Feb 18, 2008 9:56 am
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please let us know what state you are in
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5466
Debtcc Points: 38903
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Posted: Mon Feb 18, 2008 9:59 am
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You must provide more information than you have, sure that you will get more help than you need here, just provide the information that they are requesting here, your state, was it a storefront or a walk in store, you have already stated the other information that will be needed on the amount borrowed and the amount paid back. someone will help you as soon as you list the information that is needed.
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erb1953
Joined: 30 Dec 2007
Posts: 110
Debtcc Points: 1573
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Posted: Mon Feb 18, 2008 10:04 am
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net cash is not licensed as a pdl.Please tell us what state you live in
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5466
Debtcc Points: 38903
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Posted: Mon Feb 18, 2008 10:05 am
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iowa
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louise25
Joined: 11 May 2007
Posts: 51
Debtcc Points: 1842
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Posted: Mon Feb 18, 2008 10:06 am
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Iowa State Information
Legal Status: Legal
Citation:
Iowa Code Ann. ยง 533D.1 et seq.
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: $15: $0-$100; $10 per $100 thereafter
Finance Charge for 14-day $100 loan: $16.67
APR for 14-day $100 loan: 433%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Two
Rollovers Permitted: None (cannot repay, refinance or consolidate)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: One $15 NSF fee (exclusive remedy)
Criminal Action: Not Specified
Where to Complain, Get Information:
Regulator: Iowa Division of Banking
Address: 200 East Grand Avenue, Suite 300 Des Moines IA 50309
Phone: (515) 281-4014
Fax: (515) 281-4862
Regulatory Contact: Rodney Reed,, Finance Bureau Chief
Regulator Website
Licensee Database
Complaint Instructions
Complaint Form Link
Online Resources
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5466
Debtcc Points: 38903
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Posted: Mon Feb 18, 2008 10:10 am
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I ay have been wrong when i said they are not licensed. I just saw a thread that said they are licensed in the states they lend to. Let me do some research on this.
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5466
Debtcc Points: 38903
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Posted: Mon Feb 18, 2008 10:16 am
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I could not find a license for them in Iowa. There is a cash net financial but i dont know if its the same
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5466
Debtcc Points: 38903
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Posted: Mon Feb 18, 2008 11:32 am
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I had sent them email after email and never received a response even copied in the AG and never received a response. I was faxing them every week since July and they never once responded. Now I get this letter from debt collectors, so not sure if I should try and contact them again. this is net cash in espanola, nm. I don't think they are licensed in IOWA.
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Guest
Debtcc Points: 100
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Posted: Mon Feb 18, 2008 2:18 pm
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Smith, Haynes & Watson are RUTHLESS. They attacked my bank account at one time. If they are collecting a debt, send them a debt validation letter. You have overpaid your loan. The pdl turned it over to a third party. Fine. Send them a debt validation letter. They will NOT be able to properly validate the debt. But send that letter to them!
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9335
Debtcc Points: 123837
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Posted: Mon Feb 18, 2008 2:26 pm
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Okay, I will get that taken care of ASAP. Do I still need to send emails to NET CASH. I still have all of my faxes and emails that I have sent to them?.
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louise25
Joined: 11 May 2007
Posts: 51
Debtcc Points: 1842
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Posted: Mon Feb 18, 2008 2:49 pm
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I would leave Net Cash alone for right now. See what you get from SH&W. It seems as though they turned your account over to them, so let them validate the debt. It might be kind of funny. But, remember, they are nasty.
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9335
Debtcc Points: 123837
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Posted: Mon Feb 18, 2008 3:19 pm
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Cannr you're correct..SHW-they are nasty people! Nicole Ray espcecially. I finally let our receptionist know who this lady was & I haven't gotten a call sent to me from them in about 2 weeks. Of course Nicole was threatening like she usually is. Funny, last conversation I had with her she said she wasn't going to argue with me & that if i didn't -pay such & such amnt of money she would defer to their attorney & I'd never hear from her again. Well I didn't pay...but low & behold..I heard from her again.
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lmk3524
Joined: 06 Sep 2007
Posts: 437
Debtcc Points: 4188
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Posted: Mon Feb 18, 2008 3:59 pm
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This is really ridiculous that there are people out here like this. It would be different if I really owed, but I have payed well above and beyond what was needed to NET CASH and they never responded. I will get the validation letter sent out. Thanks for all your help on this.
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louise25
Joined: 11 May 2007
Posts: 51
Debtcc Points: 1842
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