MyCashNow asking money even after paying it in full

I recently took out a loan with these people and I paid 100.00 a week for 4 weeks and then I decided to pay it off early and I paid them 330.00 the last payment. They say they never received it. I faxed over my statement from the bank and even an on line statement that showed it cleared. They say they never received the $$ for the 330.00 payment. They are now telling me that I owe over 1000.00 because I never made the last payment. They want me to do a 3 way call to the bank which I refuse because I am not giving them the authorization to. I told the bank to refuse anything that came from them because I do not owe them $1000.00. So what do I do when I have faxed over proof and they are demanding more proof. They are so unreal to deal with. What do you suggest I do.

Dawnie,

You should have made an agreement before paying $330; it could help you at this situation. Anyway, I would go with more negotiation first and try to speak with some one of higher designation. Since you have the copies of your bank statement, it would support your position.

If nothing seems fruitful, contact consumer protection office of your state and get them involved. Also visit this thread to collect some information on Mycashnow-

http://www.debtconsolidationcare.com...s/cashnow.html

They told me I could pay the whole thing or keep paying interest so I paid it early. So why do they say I still owe after it came out. These people are unreal to deal with saying I still owe 1000.00. The loan was only for 700.00....Unreal!!!

Dawnie,

It's really very disappointing that they are harassing a customer who tried to cooperate with lenders and paid the amount in full. I would suggest consulting a lawyer just to know your legal rights at this stage. Since you have enough proof that they received the money, they cannot do any harm to you except harassing.

You can report against them with FTC for defective business process.

Dawnie,

I have used this company before. Are you able to check your loan history through their website? It should give payments made that way as well. If you have proof from your bank, that is a good thing. One thing you might want to do is block their id code so they cannot debit your account anymore. I do not understand why they are saying they never received payment when you sent in the information. I would also send the information via certified mail with return receipt requested. I would write in the letter that the loan was paid in full with copies of your bank statements. I know you can only refinance a certain amount of times before you have to start paying your balance down anyway. Also state that if the matter is not cleared up that you will file a complaint with the Better Business Bureau, Federal Trade Commission, and the Attorney General's office in your state as well as theirs. In the mean time, check to see if they are licensed to loan money in your state. You can check with your state's department of financial institutions. Don't let this get you too frustrated because it sounds like everything on your end has already been taken care of. Sometimes it does take a little extra efford but it's worth it. If you have any further questions, feel free to pm me. I might be able to help you out some more. I'm dealing with a few payday lenders myself right now. I know it can be frustrating but hang in there.

This company is holding an unsatisfactory report till date. Michele, you have said that you dealt with them. How was your experience with this company? Could you share it here in forums?

Dawnie has already taken some steps to stop unauthorized debits by them; however, blocking their ID would be useful here. Keep us posted.

Stanley,

I really never had any problems with them until I entered debt consolidation. Big surprise there! They kept sending me threatening e-mails which I have copies of when I am ready to file a complaint with the consumer protection office or the BBB. I sent them a certified letter a few weeks ago disputing some charges that are trying to put on my account plus an itemized statement of my account. I have not heard back from them yet but I am giving them thirty days. If not, then I will start filing the complaints because I'm not going to pay undue charges. They are not licensed in my state to loan money either so there is a violation of my state's law right there. I'm learning a few tricks to use against these companies. I find these places respond better once something is sent in writing.

I don't know if both the cases are related or not, however please note these points:

• Michele, you did not have any problem with them until you entered into debt consolidation.
  
• Dawnie faced problems after deciding to pay the rest of the amount in a single installment.

Any information from others at this point

Michele, how do you check to see if they are licensed in your state to loan money. I have harassing emails they sent me too. I can't believe they are asking me to pay over 1100.00 on a 700 dollar loan and I paid them in full 330 the last payment. I have faxed and faxed and now they want to do a 3 way calling with the bank and I refuse. I have already filed a complaint with the FTC through the web site. Do you think they will contact these people. What else do I need to do......Thanks

Dawnie,

Do a search in google with your state's name and then the department or division of financial institutions. I seriously doubt they are licensed in your state to loan money. I have run into so many companies that are not licensed in mine. You might be able to check online to see if they are licensed. I am able to do that with my state's website. Like Stanley said, the more complaints against them with the FTC, the more likely they will investigate them down the road. I'm sure you will get a general response from the FTC but it's a step in the right direction. Also, file a complaint against them online with the Better Business Bureau. If they continue to harass you, keep everything documented and file a complaint with the consumer protection office or AG's office in your state.

Well they have called and left a message for us to call them. I have faxed over bank statement and letter from the bank and they still say they did not receive my last payment of 300 and they were going to take whatever steps they need to collect. What other information do they need. What else can I do. I filed a complaint with the FTC and I really don't know what else to do. Can anyone help me with this situation. I do not want to pay them another 300 and plus they are asking for 1100.00 because they say interest has added up. Can they do this. HELP!!!

No they can't. Where you have proof of the debit and a letter from the bank stating that they withdrew the money, there is nothing they can do to you. Have your bank put a block on your account from this company. You need to file a complaint with the BBB, Attorney General office and the Consumer Protection office in your state and with the complaint, include copies of the bank statement and letter from the bank. This is a common thing with payday lenders.

They said that if we did not pay this 1100.00 they would turn us over to collections and report it to the credit bureau. The company will not give out their mailing address, but I found it anyways, and when you send them a payment through Western Union they have code city NV. Weird. They are not listed with the BBB. I am just so stressed out with this right now. They continue to call on the job after we have faxed letters telling them to stop. I don't know what else to do.

Dawnie,

Where faxing the cease and desist didn't work, you need to send it through the mail certified with return receipt. That way you have proof that you sent it and they received it and then after they receive it and they continue to call your place of employment, they are in violation of a legal document. If I understood your posting above, you have paid these people off right? Document all phone calls to you, time of the calls and the person calling each time. If this loan is paid off, you have every right to refuse to pay them more than what they are owed.

Dealing with collectors is a terrible experience; however, they cannot do any harm to you I think. It's true that collectors will harass you, but they cannot enter a wrong statement in your credit report. If they do, you have the right to dispute it.

So do not get frightened. They are trying to squeeze more money. Do what brat has suggested. Call Consumer Protection Office of your state and get them involved in the case. You can also speak to your bank if they can help you with some more evidence. Keep us posted.