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 Posted: Tue Jan 15, 2008 4:04 pm Subject: USFastCash Response to BBB
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This is the response I received through the BBB from USFastCash. I had loans totalling $850 from them and paid $1205. The final loan had a balance of $200. I had already paid $300. I live in the VI and the cap for a small loan is $26%.
| Quote: | "Mr. Wade:
Ms. is a returning customer, and at the time of the application the terms and conditions were presented and she had the opportunity to print them at that time. She had to answer a question whether she understood the terms before we could even receive the application to process. In addition, there was a 48-hour time frame the customer could cancel the agreement without incurring a fee. Before each debit we sent an account summary, which explained the terms once more, and all of the options for repayment. This form was emailed at least 10 days before each debit; it also included our customer service number to ask any additional questions. We also have a direct email link on our website to answer any inquiries. If the customer had wanted to avoid additional fees, they needed to pay the full amount due on the first debit due date, which was in the original contract, as well as the account summary emailed to the customer very shortly after the funds were placed in their own account, for their own use, at their request. The original loan documents can be faxed directly to the customer once we are given a fax number to send them to.
The customer never called or communicated any questions to us before this complaint was made, and when she sent in her revocation request, PER THE CONTRACT, SHE AUTHORIZED A PAPER CHECK TO BE ISSUED ON HER ACCOUNT.
We have asked for all collections to cease at this time, and we will offer this customer a one-time settlement offer on the account. The current balance is $650.00 in final collections; we will reduce this balance to $350.00 (giving her credit for the 150.00 paid toward deposit amount of $500.00 WAIVING ALL FEES) until 01/31/08 only.
This must be paid via Moneygram, instructions as follows:
Moneygram: (available at most Wal-mart's)
Pay to: USFastCash
Receive Code: 4307
City/State: Miami, OK
Account: 93847105
If the reduced balance is not paid by this date, the collection process will continue per the contract signed, for the full amount due.
Thank you for your time and consideration in this matter.
Respectfully,
Compliance Department" |
Any ideas on a rubbutal for this one?
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annie340
Joined: 08 Dec 2007
Posts: 96
Debtcc Points: 2153
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Posted: Tue Jan 15, 2008 7:17 pm Subject:
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So they want 1600 for an 800 loan. That is sick. These people really are out of their minds.
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stargzr
Joined: 26 Nov 2007
Posts: 270
Debtcc Points: 2690
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Posted: Tue Jan 15, 2008 9:03 pm Subject:
Latest Blog Post : Decision |
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annie...did you file a complaint with your state attorney's office? Mine helped me settle with 4 that were like this. It's worth a shot...if not..file now and send a copy of this email with it.
_________________
If you think you can, you can...if you think you can't, your probably right...
http://lifewithyourcredit.yesdebtfree.org/
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Morningstarr430
Debt Samaritan
Joined: 13 Jun 2007
Posts: 2337
Debtcc Points: 39294
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Posted: Fri Jan 18, 2008 5:39 pm Subject:
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Thanks Morningstarr430. I will do that.
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annie340
Joined: 08 Dec 2007
Posts: 96
Debtcc Points: 2153
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Posted: Fri Jan 18, 2008 6:01 pm Subject: r
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annie, I don't know if you have this information posted elsewhere; however, please keep in mind that USFastCash is not licensed/legal to lend. When filing your complaints, please include that information. USFastCash will always mess with you when it comes to the BBB. Never fails. However, when you file with your state AG, they'll send them letters. Eventually, after time (a lot of time), you will most likely get a response from your state AG from USFastCash saying they "wrote it off" or something else crazy. Please know that they are not a licensed/legal company.
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9375
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