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Posted: Tue Jul 03, 2007 6:20 pm Subject: MTE Settlement Offer

OK - I'm from NY (payday loans not legal)I've paid $805 on a $400 loan. Because I've been a long term customer in good standing here is their offer:
All finance charges waived I only have to pay $300 (the remaining principal per their records) and they will then mark me PIF. I have 7 days to respond or their offer will become null and void and they will resume collection efforts.

Posted: Tue Jul 03, 2007 6:27 pm Subject:

I think that they are full of BS! It does hot matter where they are - the laws of you state are the ones that are to be followed! Have you filed a complaint with the ag in you state? If not do so IMMEDIATELY! Close you checking account and file complaints with the ag, FTC, FBI, the department of finances in your state, Homeland Security - go to the ICE link and file there - they investigate cyber crimes. CC MTE with the compaints. And Foward this e-mail to all of the above - they will be very interested in seeing what MTE has to say. Thes people OWE you money - you ow them nothing.

Posted: Tue Jul 03, 2007 7:03 pm Subject:

I agree with irish, that "settlement offer" is crap. You should be making THEM a settlement offer-you have way overpaid them!!! Don't pay them another darn cent. They will try to make you think they are letting you off easy but don't listen to them. They are criminals.

Posted: Tue Jul 03, 2007 8:03 pm Subject:

I also agree...I have a very similar situation with the same pdl and they just made me the same offer through the BBB which I immediately refused.I have paid them $830. on a $300. loan..and they want another $200. No Way!!!!!

Posted: Tue Jul 03, 2007 9:01 pm Subject:

I got the same letter and my offer was $300 on a $300 loan. My problem is that I have more than one loan with said MTE Company, I have a loan with $500fastcash and tendollarpayday, so, I don't know which one they are referring to. hahahah! Not really funny but they won't tell me either. So, they get NOTHING!

Posted: Tue Jul 03, 2007 9:33 pm Subject:

Bflow...are all your loans for $300.??

Posted: Tue Jul 03, 2007 10:28 pm Subject: mperez

mperez, do NOT settle with MTE. I'm seeing a trend here. They are contacting everyone within the same day or two. They contacted me and two other members on the same day with "settlement" offers. And they are totally outrageous. I'm thinking with everyone filing with the BBB and AG, the BBB is contacting them first and they're getting bombarded with BBB complaints. First of all, read what the others are saying. MTE is asking for MORE money when you've already paid. MTE is also stating word for word the exact same thing to each person. MTE is the same as the other pdl's that you have (same case for me and another forum member). If you "settle" with one, they're going to send you another "settlement" for the others. Do not respond. I don't know if you're going through the BBB with them, or if they're contacting you on their own. With me, they've gone AROUND the BBB and contacting me directly with the "settlement" of like $500 on a $300 loan that $200 was already paid on! At least they gave you 7 days. They gave me 24 hours! LOL! My 24 hours is up. Guess they're going to turn me over to collections now. And that makes me curious because then they'll probably want $800 on my $300 loan! Do NOT "settle" with them. I do believe I remember you saying you filed your complaints, right? If so, sit back. Let the BBB or the AG intervene. Remember that MTE has approximately 17 d/b/a's and your other pdl's are them. Don't fall for it. Me and the other members didn't respond or flat out said "no way". I'm not telling you what to do, but as you can see, this is a trend within the last couple of days with MTE. Plus the fact that they are ILLEGAL and they've gotten enough of your money. They do not need any more. They should be giving refunds, not demanding more money to "settle". MTE is horrible. They lie to the government agencies, they lie to you, they come up with their own amounts owed that are not logical. Please listen to everyone on here. Don't "settle" with them. You "settle" with one (and overpay them even more) and then they'll pick the other pdl's they have with you and want the same thing again.

Posted: Tue Jul 03, 2007 10:32 pm Subject: morningstarr

And, no, morningstarr. bflow had already paid on her $300 loan, but they want to "settle" for another $300. Hello! That's what they call a "settlement". I remember bflow posting before, so I know she paid on it. So they're basically asking for $300 MORE dollars. Same thing with me.

Posted: Wed Jul 04, 2007 7:23 am Subject:

I went out and filed more complaints last night - FBI and ICE and included exerpts from the "settlement" letter. I basically asked if it was true that our federal laws supercede state laws and are they really out there allowing these loan sharks to operate this way. Hopefully, between the AG and others I will hear from someone soon. I'm going to ignore MTE for now - you identified my biggest fear since all my loans tie back to them if I give on one I lose on all.

Posted: Wed Jul 04, 2007 10:31 am Subject: mperez

Good for you, mperez! I'm also ignoring MTE for now. I'm not responding. Like we stated, they're all one in the same. If you hear anything or get any responses regarding MTE, please post. I know I will.

Posted: Wed Jul 04, 2007 2:10 pm Subject:

mornigstarr,
yes, both of my loans were for $300 with them, however, I have paid $180 already on the tendollarpayday.com and I have paid $90 on the $500 fastcash loan. But they still want $300 to settle? DUH, DO THE MATH BUDDY!

Posted: Thu Jul 05, 2007 4:01 am Subject: math

That's what I'm going to find most insteresting, bflow. How in the world they come up with the figures they come up with. I guess if we all get turned over to collections, since we're all ignoring MTE right now, we'll get a nice surprise! "You owe $1,000 on your $300 loan." That would get my attention, anyway! LOL! Then will be the fun part. "How exactly did you come up with this amount?" Or how about "Can I get a debt validation letter?" Whatever. These guys are the worst, I think. Then again, someone else can come along any day now with me and make MTE look like pussy cats! LOL!

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