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 Posted: Mon Sep 15, 2008 10:02 am Subject: MYPAYDAYLOAN HELP!!! |
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I have had several payday loans and thanks to this site I am addressing each on and trying to settle. I am living in the state of Connecticut and during a very vulnerable time turn to payday loans to pay catch up on my bills. In so doing one of my internet loans was with mypaydayloan.com and they are in Costa Rico, I send them the C&D letter close my account as the last withdrawal has left my account $700 in overdraft. I originally borrow $200.00 and In reply to my letter they sent me the following letter:
Can someone please help me to address this issue? How can I settle this?
Very gratefull for your assistace.
MyPaydayLoan.com
Centro Colon. 8 avo piso. Oficina 8-4
San Jose. Costa Rica
Phone: 888-269-2303
September 12. 2008
Marcella
The principle balance is the balance you borrowed without any fees so again you are mistaken! You can´t possibly think that we loan you $200 and you pay nothing but $34. In reference to the $34 I am assuming you are referring to the loan fee. and I will provide below the information you will need to clear any other confusion.
We would like to clarify the issue pertaining to the transaction you originated with our organization. We would like to point out we are incorporated in. and operate over the Internet. with our offices based out of San Jose. Costa Rica. By engaging in a transaction with us. you have availed yourself to be subject to the internal laws of Costa Rica for this particular check advance agreement. Specifically your contract states under the Governing Law section ´Both this agreement and the application is considered to be executed at our offices in San Jose. Costa Rica. and this agreement with us shall be governed by. construed. and enforced solely in accordance with the internal laws of Costa Rica.´ If you would not have agreed to avail yourself to this jurisdiction as the sole contract venue (which was your prerogative). you would have not been provided with the advance from our company. There is no conflict with federal regulations. and although certain states may have more restrictive regulations. when dealing with international law pertaining to contract venue. federal regulation supersedes state regulation. and this particular transaction is governed by Costa Rican law. not Connecticut law. regardless of where you reside. Even though you have just received this loan and have not made a single payment. I will schedule a payment arrangement for you to pay the balance of $350. $117 no later than 9/19/08. $117 no later than 10/3/08 and $116 no later than 10/17/08. I will need you to respond to this email by Wednesday 9/17/08 with your acceptance of this offer. If you do not accept this offer then your account will be forwarded to an outside collections agency where your balance will increase by 35%. Please advise.
Sincerely.
Ashleigh
Collections for Mypaydayloan.com
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srubys123
Joined: 15 Sep 2008
Posts: 1
Debtcc Points: 30
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| Posted: Mon Sep 15, 2008 10:10 am Subject: |
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how much have you paid on this 200 dollar loan?
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danilewis82
Joined: 05 Aug 2008
Posts: 268
Debtcc Points: 1476
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| Posted: Mon Sep 15, 2008 10:17 am Subject: reply |
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yes how much total paid to this illegal overseas pdl.even that 34.00 fee counts toward your principal.
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paulmergel
Moderator
Joined: 24 Jun 2007
Posts: 4044
Debtcc Points: 14704
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| Posted: Mon Sep 15, 2008 10:22 am Subject: |
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They are loaning illegally in your state and that is that. They have no legal means of collecting anything so pay them what you think you owe and move on. If they send you threatening letters just ignore them. What are they going to do? Take you to court in Costa Rica? Certainly not in Connecticut.
_________________
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Read here how to escape the Payday Loan trap.
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frogpatch
Moderator
Joined: 09 Apr 2007
Posts: 3767
Debtcc Points: 31152
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| Posted: Mon Sep 15, 2008 11:12 am Subject: |
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Have you paid back what you owe in finance fees? If so, try this...I got it from someone on this forum and used it for another country. It must have worked because I haven't heard from the company again and they haven't tried to send anything through my bank account or anything.
I am not a resident of Costa Rica, have never claimed to be a resident of Costa Rica, and never will be a resident of Costa Rica, therefore, I am not bound by the laws of Costa only those of the United States of America. If you have any further questions or comments regarding this matter please contact Connecticut's Attorney General's office at: _ _ _ - _ _ _ _. Have a nice day.
If you haven't paid back at least your principal, you might send a letter that you will pay the amount of the original loan but no more.
Good luck!
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thlovely1
Joined: 01 Aug 2008
Posts: 99
Debtcc Points: 947
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| Posted: Mon Sep 15, 2008 1:18 pm Subject: |
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srubys123, if you need a contact for the CT attorney general's office, please let me know. I live in CT too and was working with a rep regarding some of my payday loans 
_________________
HAPPY NEW YEAR!!!
To a crisis of the spirit, we need an answer of the spirit.
To find that answer, we need only look within ourselves.
When we listen to "the better angels of our nature," we find that they celebrate the simple things, the basic things--such as goodness, decency, love, kindness.
Greatness comes in simple trappings.
-Richard Milhous Nixon,
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dawnlango7
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Joined: 05 May 2008
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