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 Posted: Thu Nov 20, 2008 3:13 pm Subject: Cease & Desist in regards to pdl |
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i was just woundering if c&d letter are even effective against pdl. my main concern is on 2 internet loans i have, paychecktoday and cashadvancenetwork. from what i have read mailing them a c&d does no good. There is no garantee you even have the right address. i have formatted a c&d email and need to know if anyone else has tried this and if it was effective? I'm debating rather or not to send it. I have a feeling if i do send it it will just add fuel to the fire and give them that much more reason to call me at work and my refrences...etc. I know you should send them via certified mail, but when searching the address for the 2 companies i get some small town in oklahoma and the poeple who are calling me are calling from the east coast. I'm not sure what to do about this situation. i need some advice. thanks.
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bandcstoops1
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| Posted: Thu Nov 20, 2008 3:25 pm Subject: |
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The Oklahoma address is the correct address for them both--unfortunately they're both part of MTE financial services and they're not going to stop harassing you without a fight. I have used sent an ACH Revocation letter to them and it has been effective. However, they haven't been willing to acknowledge overpayment and still insist I owe the principal amount. The C&D letter is a smart move for a more basic reason: Once you send it and they fail to comply, they're breaking a whole new set of laws with civil penalties attached.
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sjj104
Joined: 10 Nov 2008
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| Posted: Thu Nov 20, 2008 3:32 pm Subject: |
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so its best to send it certified mail then? i didnt really figure an email would do anything beside p' them off more. did you send your letter to the oklahoma addy?
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bandcstoops1
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| Posted: Thu Nov 20, 2008 3:56 pm Subject: |
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i'm going to send them both certified c&d letters tomorow. but i am concerned because even the bbb has a few diffrent address listings for them. which address did you send your letter to sjj104?
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bandcstoops1
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| Posted: Thu Nov 20, 2008 4:21 pm Subject: |
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In my opinion Certified Mail with MTE is a waste of time. I emailed and faxed my letters only. Of course this is JMO.
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kfstaff24
Joined: 11 Oct 2008
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| Posted: Thu Nov 20, 2008 4:46 pm Subject: |
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was the email and fax's effective?
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bandcstoops1
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| Posted: Thu Nov 20, 2008 4:57 pm Subject: |
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Yes, they immediately sent me to a Collection Agency who I filed complaints against asap. They have since closed my account. The whole process took about two weeks from initial default. They are not legal so they used a CA not licensed to collect in my state. They placed my account with ARM of Florida and the Florida BBB contacted them and they wrote back saying the account was closed. I live in AZ.
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kfstaff24
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| Posted: Thu Nov 20, 2008 4:59 pm Subject: |
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cool kfstaff24, i live in az too. so i should go ahead and email them the c&d, and then when they send it to arm what do i do next? do i have to do the whole c&d with them as well
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bandcstoops1
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| Posted: Thu Nov 20, 2008 5:06 pm Subject: |
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and what email addy did you send it to? was it the customercare@paychecktoday, or did you send it to a specific email addy? i have this manbeast in collections breathing down my neck. i am just afraid if i send it to her she will blow up my work phone just to despite me.
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bandcstoops1
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| Posted: Thu Nov 20, 2008 9:28 pm Subject: MTE |
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Go to the WV Attorney Generals website. This company was brought down. Biggest payday loan victory on record. Dont pay the scumbags they are illegal.
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Guest 1021
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| Posted: Fri Nov 21, 2008 7:07 am Subject: |
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| Quote: | FOR IMMEDIATE RELEASE
Contact: Normal Googel
Phone: (800) 368-8808
Release Date: October 8, 2008
Attorney General McGraw Sues California-based Internet Lender for "Sham" to Avoid State Regulations In Predatory Loans
Attorney General Darrell McGraw saw the irony, but not the humor, in CashCall’s national ads featuring one-time child star, Gary Coleman, of the popular television show, "Diff’rent Strokes," exclaiming enthusiastically, "I love you CashCall" and "CashCall you’re awesome."
Today, McGraw’s office sued the California-based Internet lender for pushing predatory loans with interest rates of up to 99% apr on West Virginia consumers least able to afford them. When consumers inevitably defaulted, CashCall unleashed a barrage of collection abuse and harassment, including threats to visit consumers at their place of employment and charge them fees for the trip according to numerous complaints filed with the Attorney General.
"CashCall created a business model intended to fly under the protective radar of West Virginia laws that set limits on interest rates to protect consumers from financial calamity. It is these kinds of unregulated lending practices that have brought West Virginia consumers and the nation to a financial precipice. Today, my office has drawn a line in the sand in an effort to fill the void left by lax or non-existent federal regulation to protect our consumers from financial predators," Attorney General McGraw said.
The complaint filed by McGraw’s office today alleges that CashCall solicited consumers to take out high interest loans from Community State Bank, a state-chartered bank in Millbank, South Dakota. CashCall contends that because the bank is located in South Dakota, West Virginia’s usury laws do not apply. Despite the paperwork listing the bank as the lender, CashCall does all the heavy lifting and, in fact, appears to assume the actual risk of the loans, which CashCall repurchases in full from the bank three days after the loans are funded.
In addition to asking the court to find that CashCall’s loans are illegal and to provide all aggrieved consumers with restitution, the suit asks that CashCall comply with the Attorney General’s investigative subpoena. In response to the Attorney General’s investigation, CashCall asserted that its business practices are exclusively regulated by federal law. CashCall also argued that the Attorney General is prohibited from even investigating the facts underlying CashCall’s assertion that it is beyond state regulation.
Any persons wishing to file a complaint about a consumer matter or to alert the Attorney General about unfair or deceptive practices may do so by calling the Consumer Protection Hot Line, 1-800-368-8808, or by obtaining a complaint form from the consumer web page at www.wvago.gov.
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This is Cash Call not Cash Advance Network or Paychecktoday.
I sent all my C&D letters to the Customer Service email addresses. When I was sent to ARM of Florida, I sent them the same C&D letter.
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kfstaff24
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