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 Posted: Tue Nov 20, 2007 9:08 am Subject: Karen Lamb w/ Payday Yes
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| Quote: | Please reference your loan contract the Loan Note & Disclosure Statement,
the Governing Law section. This is what you agreed to when you signed your
loan contract.
Governing Law:
"Both parties agree that this Note and your account shall be governed by all
applicable federal laws and all laws of the jurisdiction in which the
LENDER is located, regardless of which state you may reside, and by signing
below or by your electronic signature, you consent to the exclusive exercise
of regulatory and ad judicatory authority by the jurisdiction in which the
Lender is located over all matters related to the Note and your account,
forsaking any jurisdiction which either party may claim by virtue of its
residency".
I am in the position to offer you a loan payoff as listed below. We only
accept electronic payments.
As of today, your total account balance is $590, loan payoff is for $510,
payment arrangements are for three (3) payments $170 due on
11-30, 12-14 and 12-31.
To accept this settlement please follow the payment confirmation
instructions listed below.
Confirmation Instructions:
* Payment method is Visa or MasterCard Debit/Credit ($5.00 processing
fee).
* To CONFIRM call or email me, Karen Lamb at 800-654-7444, ext. 846
with you card information.
* You will need your Visa or MasterCard the card#, expiration date and
three (3) digit code from back of card
* To take advantage of this offer it is very important that you
confirm this loan payoff today.
This is a loan payoff, meaning once you confirm this payoff by providing
your card information, your account will then be removed from the
collections process, your balance will be frozen and no further charges will
be assessed on the loan balance as long as you follow through with the
agreed arrangement.
Karen Lamb
Advanced Collections Department
1-800-654-7444
Is this correct information or is she just siking me out??? |
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jaydanielle1
Joined: 24 Oct 2007
Posts: 553
Debtcc Points: 5763
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Posted: Tue Nov 20, 2007 9:16 am Subject:
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oh and the loan was for 350 dollars, what is my best route?
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jaydanielle1
Joined: 24 Oct 2007
Posts: 553
Debtcc Points: 5763
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Posted: Tue Nov 20, 2007 9:35 am Subject:
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Sorry, no contract can pick and chose what laws they will follow. You cannot tell a cop "I've decided to be under the jurisdiction of another country." can you? No. It's your state that has jurisdiction. Federal courts have agreed.
_________________
How I make some extra cash
I earn at least $20 extra every month doing offers. And you don't have to pay a cent.
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goudah2424
Moderator
Joined: 31 Oct 2006
Posts: 8007
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Posted: Tue Nov 20, 2007 9:39 am Subject:
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the attachment they sent was no good so this is the reply i sent....
The attachment that you sent me does not work, would you please send the correct documents, as I need a copy for my records.
Should I also say that the information that they sent me is incorrect?? I really don't remember what the loan docs said anyway, what if there is something that says that in there?
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jaydanielle1
Joined: 24 Oct 2007
Posts: 553
Debtcc Points: 5763
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Posted: Tue Nov 20, 2007 9:42 am Subject:
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There was. All these places have the same thing in their contract. It doesn't matter. They can say that the world is flat in the contract, that doesn't make it true.
_________________
How I make some extra cash
I earn at least $20 extra every month doing offers. And you don't have to pay a cent.
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goudah2424
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Joined: 31 Oct 2006
Posts: 8007
Debtcc Points: 111673
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Posted: Tue Nov 20, 2007 9:56 am Subject:
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SO what should I tell them??
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jaydanielle1
Joined: 24 Oct 2007
Posts: 553
Debtcc Points: 5763
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Posted: Tue Nov 20, 2007 10:02 am Subject:
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The same stuff you have been telling them . . .
_________________
How I make some extra cash
I earn at least $20 extra every month doing offers. And you don't have to pay a cent.
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goudah2424
Moderator
Joined: 31 Oct 2006
Posts: 8007
Debtcc Points: 111673
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Posted: Tue Nov 20, 2007 10:07 am Subject:
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I was told today that since I signed the contract, I am under Nevis Law. When I explained that I was informed that I was under Illinois law, they said that because I signed the agreement, I must comply with their law. I'm confused myself.
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SStacey
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sstacey74
Joined: 15 Nov 2007
Posts: 60
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Posted: Tue Nov 20, 2007 10:08 am Subject:
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you and me both stacy
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jaydanielle1
Joined: 24 Oct 2007
Posts: 553
Debtcc Points: 5763
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Posted: Tue Nov 20, 2007 10:13 am Subject:
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i borrowed 250 and so far to date i paid back 675 and when I called them to find out why they are still taking money out, they said that in order for me to be done with the loan, i have to pay in one sum 325. I explained that they got that twice out of me and they said that was all finance charges. None of it went towards the loan. I am going to have to close my account. I'm bumming big time.
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SStacey
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sstacey74
Joined: 15 Nov 2007
Posts: 60
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Posted: Tue Nov 20, 2007 10:16 am Subject:
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Sstacey, No need for confusion. Forget Nevis. You go by the laws of your state. Plain and simple, YOUR STATE
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kashzan
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Joined: 11 Jul 2007
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Posted: Tue Nov 20, 2007 10:18 am Subject:
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To reiterate what Goudah is saying here, no contract can pick and choose what laws they will follow in terms of jurisdiction.
Please follow you state laws as those laws prevail.
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volleyballmom
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Joined: 27 Aug 2007
Posts: 4177
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Posted: Tue Nov 20, 2007 10:22 am Subject:
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i sent you a pm volley
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jaydanielle1
Joined: 24 Oct 2007
Posts: 553
Debtcc Points: 5763
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Posted: Tue Nov 20, 2007 2:12 pm Subject:
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i sent my letter again via certified mail, and attached this letter to it......
| Quote: | To Whom It May Concern:
Attached is a copy of letters dated 11/01/07. I have also attached a copy of the confirmation sheet confirming that your company did in fact receive my letters. At the advice of the Washington D.C Attorney General’s office I will abide by the laws of MY governing state. Attached also is a resolution, one that I think is fair. Since I have prohibited you from calling my place of employment then I will await your response via EMAIL OR GENERAL MAIL. Thank you. |
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jaydanielle1
Joined: 24 Oct 2007
Posts: 553
Debtcc Points: 5763
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Posted: Tue Nov 20, 2007 2:45 pm Subject:
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SStacey -- The State of IL has made it very clear that its laws apply to any payday loan doing business in the state. I'm going to quote 3 parts of the law:
| Quote: | Section 1-10. Definitions. As used in this Act:
"Lender" and "licensee" mean any person or entity, including any affiliate or subsidiary of a lender or licensee, that offers or makes a payday loan, buys a whole or partial interest in a payday loan, arranges a payday loan for a third party, or acts as an agent for a third party in making a payday loan, regardless of whether approval, acceptance, or ratification by the third party is necessary to create a legal obligation for the third party, and includes any other person or entity if the Department determines that the person or entity is engaged in a transaction that is in substance a disguised payday loan or a subterfuge for the purpose of avoiding this Act.
"Payday loan" or "loan" means a loan with a finance charge exceeding an annual percentage rate of 36% and with a term that does not exceed 120 days, including any transaction conducted via any medium whatsoever, including, but not limited to, paper, facsimile, Internet, or telephone, in which:
(1) A lender accepts one or more checks dated on the date written and agrees to hold them for a period of days before deposit or presentment, or accepts one or more checks dated subsequent to the date written and agrees to hold them for deposit; or
(2) A lender accepts one or more authorizations to debit a consumer's bank account; or
(3) A lender accepts an interest in a consumer's wages, including, but not limited to, a wage assignment.
Section 1-15. Applicability.
(a) Except as otherwise provided in this Section, this Act applies to any lender that offers or makes a payday loan to a consumer in Illinois.
(b) The provisions of this Act apply to any person or entity that seeks to evade its applicability by any device, subterfuge, or pretense whatsoever. |
I have never heard of Nevis before and don't know where in the world it is. But their laws mean absolutely nothing in the US. Since you are a US citizen, your laws have original jurisdiction over anything.
I like jaydanielle's post above.
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DebtCruncher
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Posted: Tue Nov 20, 2007 2:59 pm Subject:
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I just thought of this one...
Tell them that in order to help the government fight the funding of terrorism and money laundering activities, the USA PATRIOT Act requires you to report any suspicious activity involving overseas financial transactions. In order to comply, you will need to report them to the U.S. Department of Homeland Security.
For all we know, these foreign PDLs might be funding terrorism???
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DebtCruncher
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