I mailed CashYes a check to pay the principal amount left on my payday loan $200. They did not cash the check. Now they sold my account a third party who is trying to collect over $1300.00. I understood that CashYes is not licensed in California, so it is an illegal loan. By them selling the loan to a third party, is it legal now? The company that is calling me is Prime Source Capital Management, Nate Robinson, 716-650-5542.
Debt Samaritan
Posts: 5223
Credits: 71531.416580171 Send message to OhioGal1
No. The CA cannot validate an illegal loan. Do not pay anything to a CA for an illegal lender.
Send them a cease and desist letter.
I am not an attorney. I am not offering legal advice. The information and ideas I share are my opinion only and do not necessarily reflect the opinion(s) of the owners of this website.
Debt Samaritan
Posts: 1615
Credits: 27802.630240122 Send message to waffles
CashYes does not take principal payments, they will just sell you to a CA. The CA bought illegal debt; he/she is owed ZERO by you.
How to deal with illegal lenders, courtesy of OhioGal
How to write a proper debt validation request, courtesy of SOAPLADY
How to deal with a Collection agency contacting you for PDLs
Thank you for the information. I will send them the letter. You have made my day!!:D!!
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