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SeeinRed23 · Posted: Tue Oct 14, 2008 12:53 pm Subject: Quickest Cash Advance - MTE Financial

I defaulted on a Quickest Cash Advance. The account was sent to Mid-America Credit Bureau. I have spoke with them. I have actually paid $100 of the $300 loan that I defaulted on. i didn't pay anything on the principal before i defaulted.
Now there is yet another collection company calling on the same account. What should I do? Should I have even paid the first $100? Has anyone ever been taken to court by Mid-America Credit Bureau? Of course they have threatened that.
Thanks

Guest · Posted: Wed Oct 15, 2008 2:17 am Subject:

Send a debt validation letter to the second collection agency. All collection agency threaten to take a debtor to the court. It is a age old practice of the collection agencies.

Also check whether the concerned pdl is licenced in your state to lend. Which state do you live in?

Mid-America Credit Bureau has an unsatisfactory rating in the BBB and is licensed to collect only in KS.

SeeinRed23 · Posted: Wed Oct 15, 2008 6:01 am Subject:

No the PDL is not licensed in the state of Ohio. After reading the state law it appears that I am only morally obligated to pay the principal ---- but quickest cash advance doesn't want to talk to you --- they send you to the collection agency.

So ---- should I send a debt validation letter to Mid-America the 1st collection agency?

Posted: Wed Oct 15, 2008 6:10 am Subject: reply

yes you should.send the letter certified mail return receipt.include a limited cease and desist letter too.state that you only will communicate via usps.note that all future calls will be recorded.

Posted: Wed Oct 15, 2008 6:30 am Subject:

Have you received anything in writing from either of these CA's yet? They can't file a valid suit against you in a court of law until they send you a dunning letter. The next time they call, remind them they are obligated by law to send you a dunning letter within 5 days of initial contact, and until you receive that letter you can only assume this is a factitious call. If and when you receive that dunning letter, you will have 30 days to dispute it, at that time you can send them a debt validation letter.

SeeinRed23 · Posted: Wed Oct 15, 2008 6:46 am Subject:

Mid-America Sent a collection letter --- I would have to go to my car and pull it out to see exactly what it says. I know it has quickest cash advance listed on it which is an internet PDL and I know that it is not licensed to lend monies in Ohio. It states a balance.

What is a Dunning letter?

SeeinRed23 · Posted: Wed Oct 15, 2008 6:48 am Subject:

Also --- I have never received anything in the mail from the 2nd collection agency --- but they continue to call.

Posted: Wed Oct 15, 2008 6:56 am Subject:

A dunning letter must have the following information:
They must inform you of your rights under the FDCP.
They must state in the letter they are attempting to collect a debt. And they must give you at least 30 days to dispute the debt, at which time you should send a debt validation letter, CLICK HERE for a sample validation letter. Hope this explains it.

Posted: Wed Oct 15, 2008 7:00 am Subject:

SeeinRed23 · Posted: Wed Oct 22, 2008 6:23 am Subject:

Well --- no I never received a dunning letter. I am going to send a C&D letter to them and have them validate the account. I know I have paid $100 toward the $300 principal balance to Mid-America --- but I have another collection agency calling too and have yet to receive any paperwork by mail from them. I'm going to call the 2nd agency and get an address for them and also ask for validation.

At this point I do not even want to pay the balance because I am so frustrated over it.

I did receive a letter from the Ohio AG that they were looking into my complaint with quickest cash advance. So I guess that is good. I feel like filing complaints with all the other ones too.

Any other suggestions for this situation?

SeeinRed23 · Posted: Wed Oct 22, 2008 6:30 am Subject:

Do collection agencies have to be licensed in the state of Ohio to collect?

SeeinRed23 · Posted: Wed Oct 22, 2008 6:30 am Subject:

Do collection agencies have to be licensed in the state of Ohio to collect?

Posted: Wed Oct 22, 2008 6:31 am Subject: reply

i would keep doing what everyone else advised.however we do advocate paying back what you borrowed,but if quickest cash doesn't want the 200.00 you owe them.that's just too bad for them.make the effort to pay the 200.00.if the CA'S don't want to work with you that's there loss.

SeeinRed23 · Posted: Wed Oct 22, 2008 6:50 am Subject:

I understand that I should pay the whole $300.00 back. The collection agency is saying I need to pay $510.00 of course that includes interest from quickest cash advance. When I pay the final $200.00 should I send the letter stating that I am only obligated to pay the principal amount?

I feel they should also pay the 2 stopy payment fees I had to put on payments that I had set-up with Mid-America. I put the stop payments on because I had the 2nd collection agency calling me too.

Posted: Wed Oct 22, 2008 6:58 am Subject: reply

i said we do advocate paying the amount borrowed,but do not send any payment until they agree in writing.you could send the 200.00 and this CA can turn around and say you still owe the 310.00.do not send any money until it is agreed to in writing.

Posted: Wed Oct 22, 2008 9:43 am Subject:

I agree with Paul. This PDL company is highly ILLEGAL! All they get is what was deposited into your bank account period! Contact with them via internet or USPS. Lock them in into a written agreement then pay them off. It is up to you to pay them or not, but we do suggest doing the right thing on this forum and doing what is morally right. Good Luck in your decision.

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