m1yDirect sent my account off for collection...

Hello,
Last summer I foolishly took out a few payday loans and got way in over my head. One of the companies I took a loan from was apparently m1ymarketing. The original loan amount was for $300.

After encountering trouble repaying the loans I closed my bank account and set about trying to slowly repay the loans one at a time, knowing that some of the would be going to collections. Eventually m1y sent my account off to a collection agency (name forgotten) and I worked out payment arrangements with them over a 3 month period. I made the first payment, but then hardship caused me to miss the next couple payments and the account was then acquired by one of the multiple Ellis Crosby aliases, who called demanding I pay $749 immediately OR ELSE!!! Thanks to this forum I knew exactly how to deal with Ellis Crosby. I contacted the Florida Attorney General and then informed Ellis Crosby of this.

So, this morning I get a phone call from a California number (714-243-5226) from a man claiming to work for Jacoby and Meyer (he had a terrible british accent), and that he represented the United Federal Bank on 2 charges against me, one of which is the ever so common threat of Check Fraud. After he went through his speech about how I was being charged, I finally got to ask him who he was trying to collect for and he responded "m1y direct." Excellent, this means Ellis Crosby no longer has the account. I first asked this guy for a validation of the debt, and he refused. I then asked for m1y's contact information because I would like to speak to them directly. He refused and said m1y is not in the business of allowing contact with those who defraud them. After further questioning, he revealed his name as Jack Smith , and his employer as Jacoby and Meyers. The return number he gave me is 1-800-830-5927. He refused to give me a mailing address.

So, basically what I need to know is

1) How to contact m1ydirect. I can't find a website, phone number, or mailing address for this company.

2) Who are these Jacoby and Meyers people? They aren't the personal injury attorneys with the same n ame. This guy never identified himself as an attorney. Instead he did the usual official sounding speech about how he "represented" so and so, basically the same bs as Ellis Crosby, but without the rudeness.

3) I really want to make good on this debt, but I want to do so in a manner that covers my own rear. I absolutely refuse to pay any money without written validation of the debt, but nobody wants to give that to me. I have the means to pay this debt right now, but I think that I've already paid about half of it, and I am also concerned that any payment I make will not credit to my account properly. I'm concerned this is going to go to claims court and then I'll be hit with even more of a financial penalty. It seems to me that in the worst case scenario I get hit with a judgement for a couple grand, but I'd like to avoid that.

Thanks

Hi jeremyrudock

Welcome to the forums.

I tried to locate some information on your payday loan company but didn't get anything. Maybe, you can call the credit bureau as they must be having the mailing address and contact number of this company.

Check your credit report and see the latest standing of this account. If the date of last activity has been long ago, you have the legal rights to refuse payment as it might be out of the SOL period. Check your state laws for information on SOL of your state.

A collection agency that is holding your account legitimately must be able to give you the necessary details of this account. They won't keep anything behind the covers. Many agencies will come towards you forcing to make payments. You should not pay to any of them until you are assured that they are the right company assigned for this purpose.

Make payment arrangements once your debt is validated by the collection agency and after you have checked the SOL in your state. The fdcpa law offers you protection from the illegal collection agencies and gives you the power to refuse payment till you have been given the accurate details. So, there is nothing to worry while a CA places a call to you. Your willingness to pay the debt is most important and you are ready to do it to the right company. I wish you all the best on this matter. Keep us updated on it.

Regards
Roxette

I once had a loan through them. Try this as a contact:

Michelle K.
michelle(at)m1ymarketing.com

M1Y Direct
P.O. BOX 881574
LOS ANGELES, CA 90009
(PH) 877-619-6584

Please note that in my state (California) it is against the law for these lendors to do rollovers (this is where they kill you in fees. They MUST actually have a full loan paid in full before they can issue a new one. They most definitely CANNOT have you pay just interest to roll the thing over again. Anybody who HAS done this needs to look at pursing them in small claims court. Please note that M1Y is owned/operated by some guy named MARK KOETTING out of Plano Texas.

Just thought I'd post a followup.

M1YDirect actually saw this message and contacted me in good faith to resolve this matter amicably, and I appreciate it very much. They told me they recently became aware that the company which shops around their collection accounts to collection agencies had placed some of them with Ellis Crosby. M1Y is now aware that Ellis Corsby is scum and has called them to let them know not to collect on my debt anymore.

Of course, this hasn't stopped EC as they now have some unintelligible southern hick calling me claiming my debt has been deemed "uncollectable" and that further action is going to be taken. I explained the situation with M1Y, and he basically laughed it off saying this matter was between myself and him.

I laughed my ass off at that one and told him to file whatever he wanted in court. My attorney will have a field day with him.

1) I have 2 recorded conversations where I requested validation of the debt and they flat out refused.

2) I have the original creditor telling me they have informed EC to stop trying to collect on the debt.

3) I have 2 affadavits filed with the AG of the state of Florida, and they are very pleased with the recorded conversations I gave to them.

Like I said when I started this thread, I want to handle my debt properly, and it sure as hell won't be with a company like EC.

Jeremyrudock, well, now you don't need a lawyer also in your case.

You have covered the entire basis legally and can present the case at the court on your own.

Great work! Keep us updated on this matter.

Anybody who is using or has used payday loans, I *really* suggest you look up the laws in your state of residence. I had utilized M1Y for one of my loans and kept paying and paying the $90 fee to have such rollover. I found out that in California the following is the case:

1. All payday loan vendors MUST be licensed by the state of california (includes posting a $25,000 bond.

2. NO SUCH LOANS may be rolled over. You must pay off the loan in its entirety plus the interest on the due date first. In my case, a loan of $300 turned into well over $1000 with the bi-weekly $90 rollover fee. Once I did the calculation, I found that BY LAW, I had been overcharged more than $600.

I have now made a demand to have the amounts other than the initial $300 plus $90 fee returned to me. The owner called me directly and at first tried to tell me that he would say my loan was paid off. When I reiterated that he needed to repay me all the illegal fees, he said that as they did not have a physical address in California, they were not subject to the laws. That was quickly brushed aside. Then he attempted to inform me that they were governed under "internet commerce", thus such did not apply. I disabused him of that notion. He then threatened to send his attorney's at me. I told him to bring it on. He calmed down a bit after he realized I was not going to be a pushover.

Look up the laws in your state (Colorado, Kansas and Pennsylvania have been especially good at enforcement lately) and then hit these folks back. Whether or not you have paid them off according to their contracts (which in my case were contrary to state law, thus null and void), you are entitled to receive all these fees back. I suggest that you send them a demand letter and if they refuse to deal with you (or become threatening), inform them that you are going to report them to various states (I guarantee that they do business in multiple states). You can also take them to small claims court. If they attempt to tell ou that you have to sue them in your state, I do not know of a locale that will not allow you to sue locally as you were "damaged" in your home state.

*Do* pay your initial principle back and the maximum amount allowable by law in your state. It is the right thing to do, but do not let these folks take advantage of you as they have.

If anybody needs clarification, please post here or send me an email

email address removed as per forum rules - Vikas

I have a friend who has been contacted by these people..did you ever find out who they are?

Andynelms, I think it must be some alias name. Did your friend ever try to take some more info on this matter? If he has the phone number, ask him to place the call and get the proper details. Ignoring the call won't be a good idea as they might try to put him in some troubles.

I just got a call from the same Jack Smith and he claims to work for United Federal Bank - the threat of check fraud is too great for me and I am going to try and pay this off as ap

Mauracleegg, before you send any money to United Federal Bank, please read the thread below and save yourself from being scammed.

http://www.debtconsolidationcare.com...about6860.html

It sounds as if the United Federal Bank is the same as Jacobi & Mayors, Anthony Galloway, etc. Ask the company to validate your debt as it is your legal right to know the accurate picture of your account. If the company does not give you any information and you send them the money out of fear, it might happen that some other company will ask you to pay for the same account. It might be because of this company that didn't transfer the money to your debt account. Know your legal rights as per the fdcpa and prevent from being scammed.

Does anyone have any additional contact information for M1Y Direct?

Kecia, you can use this one to contact M1Y Direct

M1Y Direct
P.O. BOX 881574
LOS ANGELES, CA 90009
(PH) 877-619-6584

I am looking for any other address if they have.

Does anyone have a fax # for myDIRECT?

Queenie, call M1Y Direct at 877-619-6584 and request for their fax number. I will post their fax number if I can find it online.

877-619-6583