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 Posted: Mon Nov 19, 2007 4:41 pm Subject: Well I recieved a response from PayDay One
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Well as I said in another post(that I can't find) that sent emails out to my IPDL's and today I got a good email from Payday one. Here is what this email said:
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THIS IS NOT AN ATTEMPT TO COLLECT A DEBT
We received your request to cease and desist all collection efforts on your account, and will honor your request. However, we remind you of your promise to pay under the terms of the Loan Agreement. Further, we may report information about your account to credit reporting agencies. Late payments, missed payments or other defaults on your account may be reflected on your credit report.
We have flexible payment options that we can discuss with you.
Please contact us at 866-580-1226 or email us at shteam(at)paydayok.com.
Thank You,
PayDay One Special Handling Team
shteam(at)paydayone.com
paydayone.com
866.580.1226
866.580.1228 - FAX
Business Hours:
Monday - Friday 7AM - 10PM Central Time
Saturday 9AM - 8PM Central Time
CONFIDENTIALITY NOTE: Privileged and Confidential. This e-mail, and any attachments thereto, is intended only for use by the addressee(s) named herein and may contain privileged and/or confidential information. If you have received this e-mail in error, please notify me immediately by a return e-mail and delete this e-mail. You are hereby notified that any dissemination, distribution or copying of this e-mail and/or any attachments thereto, is strictly prohibited. Thank you. |
That is atleast 1 that will not try (hopefully) to debit my account, and is willing to work out arrangements with me
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tinabarr
Joined: 15 Nov 2007
Posts: 68
Debtcc Points: 2195
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Posted: Mon Nov 19, 2007 5:32 pm Subject: r
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tina, have you paid them anything yet so far? Or do you owe the principle balance?
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9376
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Posted: Mon Nov 19, 2007 5:35 pm Subject:
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I have paid $182 so far but I believe it was all interest fees. My loan was for $250
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tinabarr
Joined: 15 Nov 2007
Posts: 68
Debtcc Points: 2195
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Posted: Mon Nov 19, 2007 5:44 pm Subject: r
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I'm sorry - what state do you reside in?
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cannr
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Posts: 9376
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Posted: Mon Nov 19, 2007 6:01 pm Subject:
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I live in PA
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tinabarr
Joined: 15 Nov 2007
Posts: 68
Debtcc Points: 2195
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Posted: Mon Nov 19, 2007 7:07 pm Subject: I live in PA But........
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PayDayOne is is delaware and if I am reading the laws (I will post both below) right, PaydayOne is legal and I have to go by their laws.
| Quote: | Pennsylvania State Information
Legal Status: Prohibited
Citation:
Check cashers are specifically prohibited from making payday loans under Check Cashing Licensing Act of 1998, § 505(a). Otherwise, consumer discount company act applies. 7 Pa. Cons. Stat. Ann. § 6201 et seq.
Small Loan Rate Cap
$9.50 per $100 per year discount or 24% per year
Where to Complain, Get Information:
Regulator: Pennsylvania Department of Banking
Address: Market Square Plaza, 17 N. Second Street Harrisburg PA 17101
Phone: (717) 214-8343
Fax: (717) 787-8773
Regulatory Contact: Jim Keiser Administrator of Non-Depository Institutions
Regulator’s Website
http://www.banking.state.pa.us/banking/site/default.asp
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| Quote: | Delaware State Information
Legal Status: Permitted under small loan act or licensing law - Legal
Citation:
Del. Code Ann. tit. 5 § 2227 et seq.; Del. Code. Ann. tit. 5 § 2744
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 60 days
Maximum Finance Rate and Fees: Not Specified
Finance Charge for 14-day $100 loan: No Limit
APR for 14-day $100 loan: No Limit
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified ($1000 aggregate loans outstanding to all licensees)
Rollovers Permitted: Four (rollovers)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees:
Criminal Action:
Where to Complain, Get Information:
Regulator: Delaware Office of the State Bank Commissioner
Address: 555 E. Loockerman Street Suite 210 Dover DE 19901
Phone: (302) 739-4235
Fax: (302) 739-3609
Regulatory Contact: , Administrator, Non-Depository Institutions and Compliance
http://www.state.de.us/bank/ |
Am I understanding this correctly?
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tinabarr
Joined: 15 Nov 2007
Posts: 68
Debtcc Points: 2195
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Posted: Mon Nov 19, 2007 7:16 pm Subject:
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I live in Ohio so no roll overs or payments allowed, but I did call them today to ask if they would take a couple of payments, and my answer was NO! She told me that they were going to be drafting my account tonight again, unless I set up something else. Well my 2 store fronts started calling tonight and BOY nasty was not even the word!!! I'm going to pay them both on friday. I just can't take it anymore. I was going to sign up with T & C, but I don't see the use in that. I'm going to squeeze the money out of my budget and get this taken care of. I wish there was some type of protest march against these places I'd be the first one in line. I know this was my doing and I should have know better, but if McDonalds can get sued for selling "hot coffee" for God's sake these people should be shut down, its a trap! I going to try to get an extra job in the spring to bank some extra money so nothing like this can happen again.
So if I can get my store fronts taken care of within a couple of weeks, (cause i have a total of 3, 2 will be paid friday), then what can I expect from the on-line legals? I have PadyDay1, CashNet. I think I could if I put everything I have into it have them paid by the end of December.
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Lren0318
Joined: 29 Oct 2007
Posts: 186
Debtcc Points: 4029
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Posted: Mon Nov 19, 2007 7:26 pm Subject:
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I am in the same boat wondering what the online legal PDL's are going to do as soon as I default on them. I have a payment due 11-30-07 with CashNetUsa..So I guess I will just have to wait and see.
PayDayOne sent me an email(which I am keeping for my records)that would honor my request and not debit my checking account..so we will see come 12-02-07 if they keep their word or not.
I am just worried that CashNetUsa and PayDayOk (my husband and I both have loans with them, and he is not planning defaulting on his loans)will go into my account under my referrals and notice that my referral has the same last name (I do not have a common last name) and go into his bank account (which is not the account I used for my loans) and debit his account for my loans.
Can they do that legally? If they do, what can I do about it, as they will not (and never was) authorized to go into that account for my loan? I am not saying that they will do this, I am just thinking of all the "what ifs"
CashNetUsa is being difficult at the moment. They keep saying that their offer to settle is pay the valance of $437.50 by 12-31-07, which is not a possibility for me. Plus they keep side=stepping the issue that I have revoked their authority to debit my account......which has me worried.
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tinabarr
Joined: 15 Nov 2007
Posts: 68
Debtcc Points: 2195
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Posted: Mon Nov 19, 2007 8:08 pm Subject:
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I would not think that they could debt him for you debt, but with these places who knows! I too have a cash net loan due on the 30th but I can't pay it until sometime in december. They moved the due date from last friday to the 30th already. Have you already defaulted on cashnet? I was wondering what type of payment arrangements they would make if any.
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Lren0318
Joined: 29 Oct 2007
Posts: 186
Debtcc Points: 4029
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Posted: Mon Nov 19, 2007 8:36 pm Subject:
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| Quote: | I would not think that they could debt him for you debt, but with these places who knows! I too have a cash net loan due on the 30th but I can't pay it until sometime in december. They moved the due date from last friday to the 30th already. Have you already defaulted on cashnet? I was wondering what type of payment arrangements they would make if any.
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I will officially be in default come November 30th. I have had several communications with them, and I keep getting told the same thing. They will not make any payment arrangements until I default (which is stupid and makes no sense at all) I have told them several times that I was trying to avoid defaulting on my loan, that I needed other ways to pay them as I do not have a bank account anymore.
Funny thing is when I explained my situation to customer service the guy I talked to said that they would be willing to work out a suitable arrangement, as it is their goal to do everything possible so that their clients would not have to default on their loans.
When I got ahold of their collection department, the lady I talked to was nasty and rude and told me that the only way they would consider making arrangements with me is if, when they go to debit my account, and they do not get their money then they would talk to me. Well I told the lady that she might as well discuss arrangements with me now because I revoked their authorization to debit my account, and that would not get their money unless they were willing to be reasonable. Well she hung up on me........so I can already see that I am in for a heck of a time with these people.
I have told them over and over that I would pay this loan, but I needed other ways to pay it. You would think that they would be more helpful, so they get their money
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tinabarr
Joined: 15 Nov 2007
Posts: 68
Debtcc Points: 2195
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Posted: Mon Nov 19, 2007 9:13 pm Subject:
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you would think, that's what I don't get either, they won't take payments, but would rather spend their resources arguring with customers!
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Lren0318
Joined: 29 Oct 2007
Posts: 186
Debtcc Points: 4029
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Posted: Mon Nov 19, 2007 10:47 pm Subject:
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| Quote: | you would think, that's what I don't get either, they won't take payments, but would rather spend their resources arguring with customers!
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That is what you would think. I know if someone owed me money, I would whatever I could do, that way I could get the money that was owed to me.
I wish I would have never taken any PDL's out, but it is done and there is nothing I can do about it now, except try to get these settled as soon as I possibly can, and I swear to myself that no matter how much of a bind I get in, I will never ever ever go to a PDL again.
I am just hoping to get these resolved (especially CashNetUsa) quickly[/url]
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tinabarr
Joined: 15 Nov 2007
Posts: 68
Debtcc Points: 2195
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Posted: Tue Nov 20, 2007 3:03 am Subject:
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yes this is the worst thing I've ever done. DUMB DUMB DUMB! I just recived a lovely e-mail this morning from Payday1, telling me its my final notice. HUH< the girl yesterday said they were going to send the check back through last night if I make arrangements, guess she was blowing smoke! But, I'm sure it will come back through and soon.
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Lren0318
Joined: 29 Oct 2007
Posts: 186
Debtcc Points: 4029
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Posted: Tue Nov 20, 2007 5:34 am Subject: r
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tina, you are correct. You are going to have to abide by the law of Delaware since PayDayOne will be licensed/legal. And, I see you already know that CashNetUSA is licensed/legal. However, I do know that some members have made payment arrangements with each. CashNetUSA included. I was reading your and lren's posts. I'm sure members who have set up payments with these guys will post to let you know how it went or how they went about doing it. However, I do know that many people have payment arrangements with them.
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9376
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Posted: Tue Nov 20, 2007 7:43 am Subject:
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How long did it take for you to hear back from Cashnet USA, did you call or email? I called them two weeks ago and they extended my loan out until the 23rd, but I emailed them yesterday within a repayment plan and requesting an address to mail Money order payments to them and letting them know that the checking account information they had on file has been closed. I would have thought I would have heard back. If they try to debit my account Friday, the account will show closed.
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TMBL
Joined: 11 Sep 2007
Posts: 115
Debtcc Points: 2226
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