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Posted: Wed Jun 27, 2007 8:49 am Subject: LITTLE TEST

OK folks I have been doing a little test on some of these payday companies. You know how so many are saying there call centers are in Malta or London or some other crazy place. I have been doing a little calling pretending I want a loan. I get some dumb-witted representive on there and I start talking about the waether. I said you know its 99 degress here in WV and they say it is hot in OK also. I also had one say it was hot in NV. I dont belive for a minute these call centers are in London or Malta they are just scamming us to beleive that. They are doing there business in the good ole USA. KYSIDE38

Posted: Wed Jun 27, 2007 9:02 am Subject:

You are probably right. I think though when they say they are doing business in London or Malta, they mean that their headquarters/parent company is based out of the country, which doesn't necessarily exclude the fact they have US branches. But yes, if they are lending to US consumers, they still have to follow the states' laws in regards to pdls...I am fighting one such company based out of London.

Posted: Wed Jun 27, 2007 10:31 am Subject:

Heathmill which operates Route66, GFS and three others is definately in the UK. Here is part of a British article regarding thier operation.

One sales campaign involves calling the United States on behalf of a global pay advance loans company. Pay advance, or ‘pay day’, loans are a multi-billion dollar industry condemned by the Consumer Federation of America as ‘legal loan sharking’. It is legal because you are charged an extortionate fee, rather than an excessive interest rate. The $200 loans sold from Heathmill’s call centre cost an $89 fee on pay day after the first fortnight, a further $89 fee if repayment of the balance is deferred to the end of the next fortnight, and also a $35 ‘membership fee’. So on a $200 loan taken over one month, $213 fees are deducted from the borrower’s wage cheque – equivalent to an annual interest rate of 1278%. Using a casual workforce in a British call centre to sell loans to desperate people in the States shows how global capitalism uses the low paid to fleece the low paid.

Nuff said??

Posted: Wed Jun 27, 2007 10:33 am Subject:

This operation filters millions out of the US to an overseas economy acting as a double edged sword. They must be stopped.

Posted: Wed Jun 27, 2007 10:43 am Subject:

I had taken a pdl out with World Wide Cash and AIP and I didn't have to pay the $35 membership fee, even though I did get burned with the $89 refinances, especially from WWC.

Posted: Wed Jun 27, 2007 10:51 am Subject:

I think you posted to the wrong thread

Posted: Wed Jun 27, 2007 10:55 am Subject:

Here is part of a transcipt from a meeting of the FDIC and the military regarding loans to the military.

"At Northway Financial Corporation, which, oh by the way, is licensed in the Republic of Malta, you can borrow $700 at a cost for your credit at a yearly rate of 758 percent apr. And all you have to do is send them your Social Security Number and a copy of your LES."

This group is licensed in Malta but their call centers are in the US in Delaware and British Columbia, Canada.

Posted: Wed Jun 27, 2007 12:31 pm Subject: test

Frogpatch, Thank you for that very good information. Very interesting reading. KYSIDE38

Posted: Wed Jun 27, 2007 12:38 pm Subject: test

Frogpatch, Here is something I wanted to run by you to see what you think. my cash now which is supposed to be in Malta there place to make payments to is Credit Protection Depot. I think that the funds are being transferred in the US what do you think? KYSIDE38

Posted: Wed Jun 27, 2007 12:58 pm Subject:

Credit protection Depot is the collection arm of Cash Transfer Centers and my cash now. They debit from your account as Northway Debit. They are registered in Malta. CPD is in Nevada. CTC and My Cash Now are in British Columbia. But I think they are call centers. If you get contaced by CPD they are usually ready to make a deal. If you search this site there is a tom of info about them. They are very illegal.

Posted: Wed Jun 27, 2007 1:02 pm Subject:

Kyside, that is great you have been at them for well over a year. That is funny. Northway/Sonic/CTC, no longer operate out of Malta, they were thrown out by the government, they are located in Canada.

Posted: Wed Jun 27, 2007 1:07 pm Subject:

I have heard that but they still give out that Malta address if you insist on writing them. Where did you find that out? I could find no info on them being kicked out of Malta.

Posted: Wed Jun 27, 2007 1:08 pm Subject: debt

Frogpatch they debited my account as Credit Protection Depot. No they are not contacting me. I just know that many of the Attorney Generals are going to hold them accountable. They are transferring funds for these illegal companys so that is going to get them in hot hot water. KYSIDE38

Posted: Wed Jun 27, 2007 1:12 pm Subject:

They operate out of Canada.

Posted: Fri Jun 29, 2007 4:13 pm Subject:

Acutally, I know that the collections department for Sonic is in the pacific northwest or used to be. They told someone else on here it was located in another state. I have found out that some of these people actually work out of their homes.

Posted: Fri Jun 29, 2007 4:25 pm Subject: debt

You are exactly right Mishele they work out of their homes. PMB or Suites any place that it is hard to trace. KYSIDE38

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