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Posted: Tue Jul 15, 2008 12:01 pm Subject: Cash Transfer Center

I have been lurking around here for awhile and got the courage up to ask for some help...really quite embarrasing.

Got a $750 pdl from Cash Transfer Centers and from what I can see here they are not legal. Or are they? I am in Nevada.

Posted: Tue Jul 15, 2008 12:08 pm Subject: reply

nope they are not,how much have you paid to them total?

Posted: Tue Jul 15, 2008 12:30 pm Subject:

Nope, nada, no-way, no-how, nil, zip, uh-uh, for-ged-a-boud-it!!! Smile

Posted: Tue Jul 15, 2008 12:31 pm Subject:

Hi Jennifer,
You need to take a direct approach with CTC. First send them letters revoking their infamous "Wage Assignment" ASAP! Then send letters stating your proposal to pay principal ONLY, also send C&D letters as well. Make sure to send all letters certified with return receipt. You can also fax and email them these same letters.

Do not communicate with them telephonically, they can be quite nasty after they figure out your gameplan Confused

So try and keep communication documented if you can. They are ILLEGAL and based out of Malta, so you have the upperhand with them. They are not licensed anywhere in the US.

I dealt with them only through email and USPS. They settled with me for principal after they had no means of collecting otherwise(wage assignment). Stay strong and firm with and make your intentions clear. Best of Luck Razz

P.S.
Please ensure that your bank account is closed or you have a hard debit block on your account. They will try to debit it any means necessary. Rolling Eyes

Posted: Tue Jul 15, 2008 12:34 pm Subject:

Seriously, tho...CTC is no legal. I believe they are located in Malta and are not licensed anywhere here in the US...therefore, they are not licensed to lend and will have no recourse in trying to collect from you.

They are ruthless in their calls (to friends & family too) and will sell your loan to (I forget the name) a collection company. Just DV it and if they are not able to validate the debt, then they can't collect. If they report it to any CRA's, dispute it and it will come off.

Posted: Tue Jul 15, 2008 12:34 pm Subject:

wow thanks everyone!!

I borrowed $750 but now they want $1050 which is the finance fees. Its due on July 21 and I am not going to have it. Sad

where can I get the wage assignment letter? is that the same as a garnishment??!!! Sad

Posted: Tue Jul 15, 2008 12:37 pm Subject:

Jen, you want to revoke any wage assignment. You can use the search button above or just tell them you revoke any and all wage assignments and debtits from your account.

I would also give a copy to your payroll department.

Wage assignments are voluntary and can be revoke at any time. Don't let them tell you otherwise.

Posted: Tue Jul 15, 2008 12:38 pm Subject:

An assignment is voluntary. A garnishment is court ordered (so they must sue you first to get a garnishment).

Posted: Tue Jul 15, 2008 12:47 pm Subject:

Thank you all. I will get the letters out asap. Any ideas on how to word them. I am a dunce when it comes to this sort of thing.

Posted: Tue Jul 15, 2008 2:57 pm Subject:

Jen. . . once you get all your paperwork in order, that would be your C and D letter which covers EVERYTHING you ever wanted to say to them, you can either fax, email or snail mail all that info to the following contact.

Northway Financial Corporation Ltd.
Steve Reay
Floor 8 Suite 3, Plaza Commercial Centre, Biazza Street
Sliema (MT)
SLM15
+356-21322461
js@blizzardi.com

Keep us posted.

Posted: Tue Jul 15, 2008 3:06 pm Subject:

Shazzers posted a good letter that seems to cover everything in another post:

http://www.debtconsolidationcare.com/paydayloan/ach-revocation-letter. html

And there's no need to feel embarrassed. You are among friends here, and most (or all?) of us have problems with debt. That's why we're here!

If you decide to close your bank account, be sure to read this information:

http://www.debtconsolidationcare.com/paydayloan/close-account.html

Good luck!