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 Posted: Thu Mar 06, 2008 2:03 pm
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Hi, I live in Ohio. I have recently closed my checking due to getting in over my head with pay day loans. I plan to pay these off once I receive my tax return, but they are calling my sister I listed as a contact and routinely calling my work...as in four to five times a day. Any suggestions to get these guys off my back until I get my tax return? I also was threatened my zip19 to have my wages garnished and to call my supervisor?? I have the following outstanding.
ZIP19 - Owe $690
Magnum Cash Advance - Owe $900
Loan Shop - Owe $520 - have paid over 400 in fees
CashNet USA - Owe $890
Little Loan Shop - Owe $520 - have paid $300 in fees
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Hea12ther
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Posted: Thu Mar 06, 2008 6:07 pm
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Heather, Welcome, I see you live in ohio. Internet pdls must be licensed in Ohio to lend in Ohio. Here are the Ohio Laws to look at...
| Quote: | Ohio State Information
Legal Status: Legal (Applies to check cashers only)
Citation:
Ohio Rev. Code Ann. §§ 1315.35 et seq.
Loan Terms:
Maximum Loan Amount: $800
Loan Term: Max: 6 months
Maximum Finance Rate and Fees: $10/$100 + 5% per month
Finance Charge for 14-day $100 loan: $15
APR for 14-day $100 loan: 390%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot refinance)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: Bank charges (if disclosed); $20 collection charge; Court Costs; damages
Criminal Action: Not Specified
Where to Complain, Get Information:
Regulator: Ohio Division of Financial Institutions
Address: 77 South High Street, 21st Floor Columbus OH 43215
Phone: (614) 728-8400
Fax:
Regulatory Contact: Robert M. Grieser,, Deputy Superintendent for Consumer Finance
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I know a couple of them will not be licensed but I will check the ones I am not sure of.
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RoxyNY
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Posted: Thu Mar 06, 2008 6:09 pm
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Hea12ther, while roxy is looking these up, can you do us a favor? Can you list out how much you borrowed (principle amount only) for each of the pdls? Then we can compare what you borrowed to what you have paid so far.
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cannr
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Posted: Thu Mar 06, 2008 6:14 pm
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Thanks chief..I was going to get to that but I got interrupted by some pm's  I will go check the licensing.
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RoxyNY
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Posted: Thu Mar 06, 2008 6:24 pm
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Good News....No licensing for Zip, MAgnum, Little Loan Shoppe and Loan Shop. Now I did not find anything for Cashnet but I can not remember what Sass told me today about them.. We will ask her.
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RoxyNY
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Posted: Thu Mar 06, 2008 6:32 pm
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Cashnet USA is definitely licensed in Ohio. Send them what you can, when you can. They will want to make arrangements to get it all paid off in a month or so but they will take whatever you send them and deduct it from your balance. Let's wait and see what Heather comes up with as far as amounts she paid and we will go from there. 
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Sassnlucy
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Posted: Thu Mar 06, 2008 6:34 pm
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Yay sass and roxy! 
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cannr
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Posted: Thu Mar 06, 2008 6:40 pm
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Sass, you are a lifesaver...thank you. I knew I remembered something from helping mj this morning.
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In life it doesn't matter
how hard you hit, it matters
how hard you get hit
and keep moving forward.
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RoxyNY
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Posted: Thu Mar 06, 2008 6:42 pm
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Hea12ther, have you sent these pdls a cease and desist letter yet?
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cannr
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Posted: Mon Mar 10, 2008 5:46 am
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Wow, thanks for your help guys! Here is the answer to your questions.
Zip19 - The original loan was for $600 and I have paid them nothing yet, these guys are the ones that are calling my sister at least once a day.
Magnum Cash Advance - The original loan was for $868 and I have paid them about $268, but they are calling me saying I owe them over $1000.
As for the Little Loan and Loan Shop - the original was $500 each and I have paid $120 on each so far.
THanks so much for your help!!!!
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Hea12ther
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Posted: Mon Mar 10, 2008 5:53 am
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Also, does anyone know where I can find a sample of the cease and desist letter? or do I make my own up? Thanks.
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Hea12ther
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Posted: Mon Mar 10, 2008 6:13 am
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All you need to say is
I (name) hereby demand that you cease and desist from callin me at my home and place of employment. Only contact me via usps or email.
That is really all you need to say
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kashzan
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Posted: Mon Mar 10, 2008 12:34 pm
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Hi, I just received this email from Zip19. I noticed they raised my payback amount to almost 800.00. The "gentleman" I talked to earlier said he would not accept a partial payment until I get my refund. I Also they listed their mailing address as being in Malta?
ACCOUNT PAST DUE
You are risking your good credit with Zip19.com.
To keep your account in good standing, we will require an immediate payment of your delinquent account. Please call your account manager at 1-888-740-2274 right now to discuss payment arrangements.
If you do not help us to resolve this account immediately we will consider pursuing alternative action. If necessary, we may involve a third party collections agency to aid us in the recovery of the outstanding funds. This loan will remain listed as outstanding with Teletrack; and may have a negative impact on any existing credit where the creditor is a Teletrack subscriber.
Please remember that once the payment is received, you will be able to apply for another loan within the hour, and a representative will be happy to assist you to ensure the funds are in your account quickly.
To make the full payment, please follow one of the payment instructions below.
Western Union Quick Collect (blue form)
Payable – E CARE CONTACT CENTERS LTD
Code City – ECARE
Code State – DE
Loan or Reference Number –
Moneygram Express Payment (blue form)
Receive Code - 4476
Payable – E CARE CONTACT CENTERS LTD
Loan or Reference Number –
City – Please leave Blank
State – Please leave Blank If you have any questions, or require additional information, please do not hesitate to contact the number listed below.
Sincerely,
Payment Services Department
1-888-740-2274
(If payment has been made, please disregard this notice. We value your business with us)
*Northway Financial Corporation Ltd. is licensed by the MFSA to provide lending services under the Financial Institution Act 1994.
Credit Granting Institution:
Northway Financial Corporation Ltd.
of Level 8 Suite Plaza Commercial Centre
Bisazza Street Sliema SLM 15 Malta
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Hea12ther
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Posted: Mon Mar 10, 2008 12:48 pm
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These are the same as Cash Transfer Centers....which are so illegal..I would respond back that you will not discuss anything over the phone. you want all future communication to be in writing, as per the advice of my legal counsel. You are to get all future correspondence with you in writing.
that you would like a physical address to mail any owed principle in the form of money order.
Again, please respond with your decision in writing.
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purplegirl69
Joined: 26 Feb 2008
Posts: 250
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Posted: Mon Mar 10, 2008 5:58 pm
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Hea12ther, you've got great information so far. Not one of your pdls are licensed EXCEPT for your CashNetUSA. They are the ones you will want to contact and make payment arrangements with (preferably with money order to a mailing address). The others are not licensed to lend to you. Zip is highly illegal with them being overseas. They can stick their "demand" up their butt. Do you need a letter to send to your pdls (with the exception of CashNetUSA) to let them know where you stand and not to contact you except via email or USPS? I can post a letter for you to use as an "example". You would have to change it for each pdl, the dollar amounts, the situation, etc. But it does cover revoking debit authorization, revoking wage assignments, not contacting you, etc.... I will post it for you so that you can send it to your illegal pdls, okay? If you have any questions, just post them and we will help you.
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cannr
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