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 Posted: Thu May 17, 2007 4:54 pm Subject: update on my fight with cashnet usa |
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you might all remember my letter to cashnet usa i posted a week ago stating my laws and telling them there not licinse.. well there puting up a fight with me.. im telling them there not licinse to do bussiness in minnesota and that i only pay the principle..well there keep on calling and im starting a new tactic everytime they call before they have a chance to speak ill tell them ill only discuss my account thru the mail and see how long they will call.. ive been floading there email and fax with the same letter, minnesota's payday loan law and the fair debt collection laws.. dont know when theyll throw the towel and agree with me but ill keep u all posted
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perry968
Joined: 18 Jun 2006
Posts: 238
Debtcc Points: 5255
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| Posted: Thu May 17, 2007 4:57 pm Subject: |
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Keep up the fight Perry! You might want to ask them to speak to their supervisor and tell him the same thing.
_________________
Four things in life that you should never lose-1. Hope; 2. Peace; 3. Honesty; 4. Friends.
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irish51cc
Debt Samaritan
Joined: 27 Nov 2006
Posts: 1122
Debtcc Points: 9216
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| Posted: Thu May 17, 2007 6:17 pm Subject: |
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i sent faxed them the same letter.. im going to fax and flood there email until they agree my next step is the minnesota attorney general and the better bussiness bureau
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perry968
Joined: 18 Jun 2006
Posts: 238
Debtcc Points: 5255
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| Posted: Thu May 17, 2007 7:26 pm Subject: |
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Problem is that Minnesota is one of those states, like Pennsylvania and Louisiana, whose laws only let them regulate businesses physically in their borders. CashNetUSA is licensed in most states that offer licenses, but their lawyers have convinced them that in certain states they can make loans under another state's license. That doesn't mean they're right. It just means you might have to get your own attorney (preferably a class action attorney) and bring the fight yourself. You can't count on any help from the state regulators.
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FreakyFriday
Joined: 13 May 2007
Posts: 385
Debtcc Points: 5060
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| Posted: Thu May 17, 2007 7:42 pm Subject: |
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does this mean they can try to sue me? even thought there not licensed here
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perry968
Joined: 18 Jun 2006
Posts: 238
Debtcc Points: 5255
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| Posted: Thu May 17, 2007 7:55 pm Subject: |
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sticky
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d2dtk
Joined: 17 May 2007
Posts: 152
Debtcc Points: 2005
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| Posted: Thu May 17, 2007 8:14 pm Subject: |
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They won't but they could. It's a business decision and they generally don't sue. Bad PR and too much risk. Instead, they'll drive you nuts with phone calls and then send it out to 3rd party collections. Compared to other internet lenders they're pretty professional. (Of course, that's in comparison to guys that make gangsters look like gentlemen.) If you hold out long enough, they'll offer you a deal - 50-75% of the balance. At that point, you make a decision - stick to your guns and accept a limited risk or take the deal and get a guaranteed result. I always believe in a reasonable settlement, so if the settlement offer isn't much more than you think you owe, it's a good deal.
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FreakyFriday
Joined: 13 May 2007
Posts: 385
Debtcc Points: 5060
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