Response from CashNetUSA

Well I got my response from CashNet USA today via email, regarding my "Revoke Authorization" letter.

Here it is...

So I decided to give them a call and try to set up monthly payment arrangements. That didn't go well at all, I told them my account was closed, so when the try to debit it this Friday it will not go through. It currently isn't in default, so I thought by calling and trying to work something out before it is, they would be willing to work with me. NOT! They said they won't accept money orders or any type of payment through the mail. Well I am certainly not going to give them an account # of any type. I do remember reading about them in another post, someone said they just sent them money orders anyway and they cashed them. I might try that, the only kind of arrangement they were willing to do, would be to pay it off in 3 installment, each one 2 weeks apart, each payment would have been $200 and some odd dollars, don't recall the exact amount, but that not going to happen anyway. Any suggestions? What a nightmare.

How about calling them again and offering to pay them with a pre-loaded visa card (they probably won't take it but at least try). That way if they try to take more money out than required they won't get it, only what they are entitled to.

If you still can't get them to cooperate then I say file a complaint with the BBB and AG's office and the FTC. That will surely get their attention.

ladybug

They did say they would except a prepaid visa card, but they would still only allow me to set up a 3 payment installment plan of $200.00+ each installment, and I just can't afford that. I will definately file a complaint, there is no reason they can't try to work with you a little bit. It's not like I'm avoiding them, or refusing to pay what I owe.

I just sent my complaint to the BBB, requesting a reasonable payment plan. Can't wait to get the response.

When they responded to me (after I defaulted) they said i could pay by Bank account, Visa, or Moneygram/western union. Of course they still want the full amount.

The guy I talked to in collections was a real jerk....why can't they try to work with you bit....

They keep leaving me messages stating that it is in my best interest to call them back. Well what is in my best interest is for them to fall off the face of the earth. I have emailed them numerous times stating that I am willing to work something out even if it is for the full amount but I can't pay it all at once but I will only converse through email or USPS. All they want to do is call, even after Florida sent them paperwork stating all communication had to be in writing.

Are they even licensed/legal in your state? Is this one of the ones that is licensed/legal?

Hey cannr,
Where can we check to see if they are legal?? I ain't figured that our yet.

They are registered in Florida as a CSO. GOudah posted the registration info on another thread.

nutsie...usually you can verify licenses through your AG web site or your state's department of financial institutions...both you should be able to access on line...when all else fails...just put a call into you AG office and they can answer the question for you. Hope this helps...

Since they are operating as a CSO in Florida they aren't required to be licensed. Only registered with the Sec of State. But you can search the Sec of State website and find their registration information.

Detail by Entity Name

I do believe the are licensed in WI and just about every where else.

Yes, they are either licensed in every state they lend in, registered and operating as a CSO, or licensed in another state, depending on what the requirements are for the state they are lending in. They are one of the few ipdl's that actually tend to follow all the laws. The only instance of them not I know of is in Oregon, where the laws recently changed and they didn't change their interest rates right away.

Don't they still operate against the law?? Rolling over loans, giving a loan to someone that already has one and on and on??

I'm sure there are a few rules that they've neglected but by and by, they seem to try to stick with it. I'm in Oregon so I got them to settle because of their neglect to follow the new interest rates.

As for teri and the original post, I think the rule about ach transactions is for those that automatically take it out. My CashNet was something that I had to go online and tell it to extend or pay in full before it came through. So I think their contract holds up in that case, but technically you could pay them via something else before they were to do that. I'm not positive about that one, but I think that is why they can tell you no.

As for them not working with you, I couldn't find anyone to work with me. I had to bring in the big guns to get them to fix the apr error, and in a show of good faith, they also accepted my situation and made a payment plan of four payments, and those payments are only once a month. But like I said, I got lucky that they were obviously doing something illegal so that I could bring in the big guns.