| Author |
Message |
|
|
 Posted: Fri May 23, 2008 8:00 am Subject: Help with 365fastcash.net
|
|
|
I got this from their website today. I mean what are these pple talking about. They state they are not in the US so the payday laws do not apply to them. What is this supposed to mean?? I paid them $148 towards a $200 loan. In the past I overpaid them $800 on a $200 loan. I closed my account and am requesting a PIF! Enough is enough
Reply by 365fastcash:
The Loan Agreement, to which we have adhered to by funding the loan, detailed that your loan was subject to the Arbitration Laws of Malta, a fact by which you confirmed your understanding and acceptance of via the online signature you made. Please note, we are not a US company, have never prescribed to be a US company and have no US presence, as such are not subject to the US laws you detail. Please refer to your copy of the Loan Agreement. Under the terms of the Agreement you consented to make payments via ACH until the loan was satisfied in full. Your loan account is currently in default due to returned payments. We will continue to make all reasonable attempts to make contact and to attempt collection of all funds due and payable to enable the loan agreement to be satisfied, as per the original provisions. Regards, Customer Services
|
|
anyaroberts
Joined: 13 May 2008
Posts: 511
Debtcc Points: 3086
|
|
|
 |
|
|
Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 4635
Debtcc Points: 28982
|
|
|
|
Posted: Sun May 25, 2008 4:58 am Subject:
|
|
|
Shazzers, you have the right of it. By lending into the US, they subject themselves to US and state laws. Period.
_________________
Wulfisms: my blog
The four 'no's of dealing with collectors:
No validation? No payment. No way! No kidding!!
Tellin' you all the zomby troof
Here I'm is, the zomby woof
[Frank Zappa, 1988 - R.I.P.]
|
|
unclewulf
Moderator
Joined: 27 Nov 2007
Posts: 2455
Debtcc Points: 19576
|
|
|
|
Posted: Sun May 25, 2008 5:06 am Subject:
|
|
|
| anyaroberts wrote: | I got this from their website today. I mean what are these pple talking about. They state they are not in the US so the payday laws do not apply to them. What is this supposed to mean?? I paid them $148 towards a $200 loan. In the past I overpaid them $800 on a $200 loan. I closed my account and am requesting a PIF! Enough is enough
Reply by 365fastcash:
The Loan Agreement, to which we have adhered to by funding the loan, detailed that your loan was subject to the Arbitration Laws of Malta, a fact by which you confirmed your understanding and acceptance of via the online signature you made. Please note, we are not a US company, have never prescribed to be a US company and have no US presence, as such are not subject to the US laws you detail. Please refer to your copy of the Loan Agreement. Under the terms of the Agreement you consented to make payments via ACH until the loan was satisfied in full. Your loan account is currently in default due to returned payments. We will continue to make all reasonable attempts to make contact and to attempt collection of all funds due and payable to enable the loan agreement to be satisfied, as per the original provisions. Regards, Customer Services |
Mornin' Anya -
I think you have a moral obligation to pay them the remainder of the principal amount, but that's your decision to make, not mine. You are not obligated to pay them usurious fees, interest, etc., on an illegal loan.
When you closed your bank account, did you speak to a branch manager to ensure that it could not be forced open by ACH transactions? If, in future, you decide to pay them anything more, pay it by money order via mail only. No ACH, no check, no credit/debit card, no way. Tell them you will only correspond / pay by mail, and if they don't want to give you an address, too bad.
_________________
Wulfisms: my blog
The four 'no's of dealing with collectors:
No validation? No payment. No way! No kidding!!
Tellin' you all the zomby troof
Here I'm is, the zomby woof
[Frank Zappa, 1988 - R.I.P.]
|
|
unclewulf
Moderator
Joined: 27 Nov 2007
Posts: 2455
Debtcc Points: 19576
|
|
|
|
Posted: Mon May 26, 2008 11:11 am Subject:
|
|
|
Yes my bank account was closed and has been closed for awhile. Transactions haven't forced it open. I also requested my statements so I am writing the AG on all these guys claiming I owe them fees for this and that. I have never seen a document yet. I am not sending my bank info ever again. Thanks for the advice. Legal advisors told me that if I was to object my accounts to these types of illegal loan companies then fraud and other things may become prevalant. So NO WAY!!
_________________
Register today to encash debtcc points.
|
|
Guest
Debtcc Points: 100
|
|
|
|
|
|
All times are GMT - 7 Hours
|
| Page 1 of 1 |
|
