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I have been going back and forth with CashNetUSA on a payment plan. My original loan was $400 and I paid $300 in fees toward it.

They currently say I owe $650. I told them I would pay the $400 MAX in 5 payments just to get rid of it.

Well....after my last letter and fax to them with the offer I received this email from them. It looks to me like a typo error, but they are offering me to pay .66 cents in 3 payments.

Here is the email:
____________________________________________________
Dear Jon,

Thank you for contacting us to inquire about how you can pay off your balance.
The payment plan we can offer is below.

(this an payday loan best payment available) .66_____due 06/06/2008 bi weekly .66_____due mm/dd/yyyy .66_____due mm/dd/yyyy

To confirm your agreement to this payment plan, please reply to this email stating that the terms are acceptable. You must include the original email with the terms to which you are agreeing in your response and specify your payment method.

PAYMENT METHOD
- Bank Account
- Credit/Debit Card

If you are paying via credit card, you will need to call our Collections Department at(888)801-9078 to set up payment arrangements.

Collection procedures will continue until an acceptable payment arrangement has been made.

If you have any questions or concerns, our collections team is available seven days a week via phone and email.

CashNetUSA Collections Department(888)801-9078 Direct Line(866)326-5265 Fax cashnetusa.com
Mon-Fri: 6am to 11pm CST
Sat-Sun: 8am to 8pm CST

Ernest B

Posted: Wed May 28, 2008 5:24 am Subject: reply

yep,it does look like a typo.i would contact them about that.CASHNET USA is licensed and legal.
it is best to work with them on this.they can
take steps to recover what is owed.

Posted: Wed May 28, 2008 6:51 am Subject:

Yeah, Cash Net USA is licensed and legal in every state it lends in. I'd be sure to make the payment arrangements with them and stick to them.

Posted: Wed May 28, 2008 6:53 am Subject:

I am trying, but they keep coming back with worse offers. I want to keep the payments as low as possible and they are not working with me.

Posted: Wed May 28, 2008 7:03 am Subject:

Just keep in mind that they can take steps to legally collect this debt in full.

Posted: Wed May 28, 2008 8:12 am Subject:

I am trying to work with them to pay what is owed, but I do not have $216 to pay them in 3 installments. I offered to pay it in 8 or 10 payments.

Posted: Wed May 28, 2008 8:22 am Subject:

I'm just saying to be careful - When you are dealing with a legal company that can take steps to collect you aren't in control as much as they are.

Posted: Wed May 28, 2008 8:49 am Subject:

thanks for the heads up.

why wont they work with me? wouldnt it benefit them to get their money any way possible?

Posted: Wed May 28, 2008 8:52 am Subject: reply

can you give an example of what you proposed
and what they proposed.you see they will get the full payment,if they want it faster they will try to do so.

Posted: Wed May 28, 2008 8:55 am Subject:

Why don't you try making a compromise offer, at least a little more than what you originally offered, sometimes a compromise offer cools them off a bit, seems like when you continually stick with your original offer they [creditors] become more and more demanding, might be worth a try. Smile

Posted: Wed May 28, 2008 9:29 am Subject:

the proposed I pay $650 in 3 or 4 payments. I proposed to pay it in 6, 7 or 8.

Posted: Wed May 28, 2008 9:41 am Subject:

$650 in 4 payments is $162.50 . . . . That is actually pretty good for a pdl to offer . . . .

Posted: Wed May 28, 2008 9:50 am Subject:

understood, but I dont have it in the my budget right now trying to pay off a few more PDLS, plus bills etc...

I told them I can do 6 payments at best.

Posted: Wed May 28, 2008 10:18 am Subject: reply

i would suggest sending or faxing papers to back up your situation.what other pdl's do you have?this one is legal,so you might want put off the other pdl's as CASHNET USA can and will use legal remedies to get paid.try to work with them before the other pdl's if they are not licensed.

Posted: Wed May 28, 2008 10:36 am Subject:

Yeah, Paul is right - You should always concentrate on paying the legal companies first. Once they are paid off, then deal with the illegal companies.

The illegal companies can't do anything to collect. Since the legal one's can, they should be taken care of asap.

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Payment offer from CashNetUSA - how to proceed?

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