| Author |
Message |
|
|
 Posted: Wed Oct 17, 2007 2:52 pm
|
|
|
Hey guys! I received this letter from Eastside today. I'm not sure how to respond...can anyone give me some direction???[quote]October 17, 2007
Re: Loan with East Side Lenders
Dear (name removed for your protection. cannr),
East Side Lenders is responding to your correspondence regarding the above-captioned account.
East Side Lenders, which is located in Delaware, is licensed by the State of Delaware to make small loans. All such loans are approved and funded in Delaware, with repayment to be made in Delaware. The East Side Lenders loan agreement and website contain all disclosures required by Delaware and federal law and make it clear that all transactions are governed by Delaware law. On the advice of counsel, East Side Lenders maintains that the choice of Delaware law as controlling in the loan documents would be upheld, as all of the significant contacts in the loan transaction occur in Delaware. The loan agreement is legal and enforceable. In responding to your correspondence, East Side Lenders notes and reserves all available legal and equitable objections to the points you have raised.
East Side Lenders provided this service as a convenience to you. We still consider your loan to be outstanding and are prepared to go to arbitration as provided for in the Loan Agreement between us. As an alternative, if you are experiencing financial hardship, we will be happy to speak to you about payment arrangements through which you can successfully meet your payment obligations. East Side Lenders will consider doing so because of our continuing commitment to servicing our customers and not because of a legal obligation to do so.
Should you have any further questions regarding this matter, if you wish to speak about payment arrangements, please contact us at (800) 689-5603.
Sincerely,
Customer Service
East Side Lenders
I'm freaking out! I'm not sure what to send back to them.
|
|
lmk3524
Joined: 06 Sep 2007
Posts: 437
Debtcc Points: 4188
|
|
|
 |
|
Posted: Wed Oct 17, 2007 2:55 pm
Latest Blog Post : http://Lukesykwalker.yesdebtfree.org |
|
|
What was the original letter about that you sent to them. Do you owe this loan, part of it, did you make arrangments? Let us know so that we may futher help you.
_________________
"It only takes a second to do something that you will regret for the rest of your life."
All the Best,
Luke
|
|
Lukeskywalker
Joined: 19 May 2007
Posts: 1710
Debtcc Points: 15384
|
|
|
|
Posted: Wed Oct 17, 2007 2:57 pm
|
|
|
I sent them a letter that cannr forwarded to me. I've overpaid them 237.50. They are not licensed in the state of NE. thanks for responding luke!!
|
|
lmk3524
Joined: 06 Sep 2007
Posts: 437
Debtcc Points: 4188
|
|
|
|
Posted: Wed Oct 17, 2007 5:02 pm
|
|
|
lmk, honey, gee I got the same nice form letter from Eastside. Ummm..... basically you can say "Bite Me." You need to send them another letter, stating that you received their letter and re-state everything in your first letter because they are morons. Just acknowledge (and you can do it via email) that you received this, state what you have already stated (yes, this is a game). They will most likely respond saying they are "prepared to go to arbitration". Which you can then tell them to "bring it on". Because once I said that, they stopped communicating for quite awhile. Then I began getting emails asking for me to come to some sort of agreement with them. Do the words "bite me" ring a bell? So I sent that a few times. Haven't heard from them again. Oh. And be sure to ask them to provide you with the name and license number that they are operating legally under. They love that.
|
|
cannr
Moderator
Joined: 07 Jun 2007
Posts: 9335
Debtcc Points: 123837
|
|
|
|
Posted: Wed Oct 17, 2007 7:49 pm
|
|
|
Thanks cannr! I knew you'd come to the rescue & make me feel better! I flipped out when I read that they would go to arbitration. As you can tell I haven't quite figured out how to work the quote thingamabobbie yet. I'll send them an email now acknowleging that i received their email, include the original letter again, and ask them to provide me with their NE license #. Go figure I'd have 1 company that would give me a hard time. I've received 3 refunds so far, 2 wrote off the rest that I owed(35.00 & 50.00), 1 that I own 120.00 on & they agreed to accept 30.00 payments over the next 4 monthes, then of course there's one click who's in a league of their own, & then east side lenders. Other than One Click & Eastside everyone else has been pretty reasonable. Everybody is feeling better now. I just got my daughter off to bed so I figured I'd get on & see what the heck was up. Thanks again cannr for the helpful advice...you are the bomb girlie!
|
|
lmk3524
Joined: 06 Sep 2007
Posts: 437
Debtcc Points: 4188
|
|
|
|
Posted: Wed Oct 17, 2007 8:03 pm
|
|
|
My pleasure, lmk! I took your name out of the letter just to be on the "safe" side. Hope it's okay with you. But I know the feeling. I got the same crap from Eastside. Once you respond this time, they'll shut up for a little bit. Then they'll hit you again. Just be sure and ask for that name and license number they are operating under LEGALLY. Man, that kept them quiet for some time! One Click is still a thorn in my side also. These guys don't give up, do they?
|
|
cannr
Moderator
Joined: 07 Jun 2007
Posts: 9335
Debtcc Points: 123837
|
|
|
|
Posted: Wed Oct 17, 2007 8:17 pm
|
|
|
Thanks for removing my name...I didn't cut & paste the top portion of it but I forgot to take out the greeting. It was at the end of the day & totally spaced it. Hey did you read the thread from the guest on internet pdl's? What's your take on that? After reading it, I'm a little worried that Eastside might have a leg to stand on....
|
|
lmk3524
Joined: 06 Sep 2007
Posts: 437
Debtcc Points: 4188
|
|
|
|
Posted: Wed Oct 17, 2007 8:33 pm
|
|
|
Which post?
|
|
cannr
Moderator
Joined: 07 Jun 2007
Posts: 9335
Debtcc Points: 123837
|
|
|
|
Posted: Wed Oct 17, 2007 8:35 pm
|
|
|
This one:
Posted: 17 Oct 2007 22:11
---------------------------------------------------------------------- ----------
And here is what I have concluded on all of these internet pdl's and internet lending in general. First off, lenders are required to be licensed in a state to give you a loan IF they are a US based company. The catch, though, is this. If a company is licensed in say New Mexico, and you live in California, and you hop onto the internet to get a loan, they are NOT required to be licensed in California. A company is required to be licensed in a state to lend money if they are actually availing themselves to that state. Courts have said that by going on the internet to get a loan, the company is not coming into your state to give you a loan, you are actually going into their state to get it (totally different if a company is say advertising specifically to your state). Now, some state laws have dealt with this issue and said otherwise, but for the most part, a large majority of states have not and this rule would apply. So if for instance you are dealing with Magnum Cash Advance, they are actually licensed in Delaware, and they must follow Delaware laws when giving you a loan, and not your state's laws. Somewhat bad news since Delaware laws are friendly to the pdl's. So to summarize this point, if a pdl is licensed in a state, then look at that state's laws to determine what you owe, and not yours.
Now for the good news. First, most of these guys are not licensed, and consequently are breaking the law when they lend. Their contracts are NOT enforceable so depending on your moral standards, I would be pretty hesitant to pay these people anything more than what you borrowed. Second, even if these people are licensed, most of them are breaking their own state laws (Magnum would be one of them). Contract = unenforceable.
In short, stick to your guns when dealing with collection people if the pdl you're working with is operating illegally. Always get their state license information and if they refuse to give you that, don't work with them until they do. Once armed with that information, then work with that state's laws to determine what you owe and pay only that amount back. If they keep harrassing you, file complaints. These people back off in a hurry if you do.
That's all for now. I'll be around quite a bit so feel free to drop questions on this topic.
Later
It was posted by a guest.....
|
|
lmk3524
Joined: 06 Sep 2007
Posts: 437
Debtcc Points: 4188
|
|
|
|
Posted: Wed Oct 17, 2007 8:53 pm
|
|
|
Yes, lmk. Actually I did see that. It's nothing that we don't already know. And it also doesn't even "touch" on each individual state regarding internet pdls. Some states, pdls are prohibited - period. Some states, they are prohibited unless licensed in another state - then they are recognized. This post does not cover everything. All state pdl laws are different. Although the guest did "touch" on the facts regarding illegal pdls, which is the majority (as we know). No. It does not pertain to our situation. This is a generalized post regarding pdls. It's not one that everyone should read and "go by". The laws vary too much from state to state.
|
|
cannr
Moderator
Joined: 07 Jun 2007
Posts: 9335
Debtcc Points: 123837
|
|
|
|
Posted: Wed Oct 17, 2007 8:55 pm
|
|
|
gotcha cannr. thanks once again for easing my mind! I don't know what I'd do without ya! Love ya girlie!! How are things going with your ipdls? anything new? any other company trying to do a wage assignment??
|
|
lmk3524
Joined: 06 Sep 2007
Posts: 437
Debtcc Points: 4188
|
|
|
|
Posted: Wed Oct 17, 2007 9:00 pm
|
|
|
No. I'm still stuck with the same idiots who will not "give". Which is fine by me. They want to "stand their ground" and I'm "standing my ground". So this will probably continue until I'm 108 years old. My poor state AG just keeps sending them letters threatening them and getting no response. Gee, are they ILLEGAL or what? LOL! 
|
|
cannr
Moderator
Joined: 07 Jun 2007
Posts: 9335
Debtcc Points: 123837
|
|
|
|
Posted: Wed Oct 17, 2007 9:05 pm
|
|
|
Yea I'm thinking Eastside is going to be the one I battle until I'm 108 years old as well. I have no problem with paying back One Click..however I'm not paying any more than the principle seeing how they are still unlicensed in the state of NE. They just keep sending me emails & I keep firing my original letter right back at them. Figured I'd build up a pretty good file before filing with the AG's office. I think I'll be doing that this weekend. As I hope you know..I hope & wish the best for you in our shared trek. I think about the site & my close friends daily. I miss talking to everyone! I've been reading through threads just to catch up.
|
|
lmk3524
Joined: 06 Sep 2007
Posts: 437
Debtcc Points: 4188
|
|
|
|
Posted: Wed Oct 17, 2007 9:31 pm
|
|
|
Have you not filed with the state AG yet? Hell, I filed with them first thing. BBB, FTC, and state AG.
|
|
cannr
Moderator
Joined: 07 Jun 2007
Posts: 9335
Debtcc Points: 123837
|
|
|
|
Posted: Wed Oct 17, 2007 9:39 pm
|
|
|
I am surprised Shaniqua or Tamika or whatever didnt sign the letter like what you and I got Cannr!!
|
|
volleyballmom
Debt Samaritan
Joined: 27 Aug 2007
Posts: 4178
Debtcc Points: 24889
|
|
|
|
