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 Posted: Thu Jul 17, 2008 10:19 am Subject: MY PAYDAY LOAN. COM DRIVING ME NUTS |
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I have sent out 10 ACH Revokes and so far I have 2 PIFs (Impact Cash and Upfront Cash) and several "please call us" letters which I am pondering on whether I should call them or not since I clearly asked for documentation of what I have paid and whether or not they are licensed in the State of Indiana. I did not request a phone call...LOL
Anyhow, MyPaydayloan.com has sent me text messages, called 4 times now and sent me collection emails. I just sent the following message to them via email.
Please be advised of the correspondance I sent out on Monday to Customer Service. I am disputing the validity of the interest I have been charged based on information I have learned with regards to Indiana law. Also I do not believe you can report me to any check writing agencies as I did not write any bad checks to you. The transactions were ACH debits which have since been revoked and I have also paid back the principal of the loan plus the 15% allowed by Indiana State law.
Has anyone else been given a lot of problems by this PDL? They are threatening to report me for bad check writing which is why I mentioned to them I never wrote a bad check. They went on to say that I will not be able to write a check to Walmart or Target...........can they report to teletrax? Anyhow they are idiots. I have paid them than the rest and they are giving me the most trouble.
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Cardskh
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| Posted: Thu Jul 17, 2008 1:13 pm Subject: |
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Okay I'm just adding to this to move it back to the top of the forum list.... I am really anxious to know if anyone has dealt with these peeps.
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Cardskh
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| Posted: Thu Jul 17, 2008 5:17 pm Subject: |
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MyPayDayloan.com is registered in Costa Rica but their admin contact is in the UK. Try sending a copy of your C and D letter to this address. I would try emailing it over first, and then hardcopying it to the UK if you don't get a favorable response.
NetBenefit Hostmaster
3rd Floor Prospero House
241 Borough High St.
London
SE1 1GA
UK
+44 (0)20 7015 9370
+44 (0)20 7015 9375
"nudom@netbenefit.co.uk"
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llw1995
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| Posted: Fri Jul 18, 2008 9:29 am Subject: |
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I just got another email from MyPaydayloan.com for collections so again I forwarded my request for documentation that they are licensed and I again sent the Indiana State Laws, but this time I sent them to the London email address.
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Cardskh
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Shazzers
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| Posted: Fri Jul 18, 2008 11:43 am Subject: |
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I just got a mail delivery failure for the UK email address that someone had posted for the main office of this lender....I guess I am back to square one
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Cardskh
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| Posted: Fri Jul 18, 2008 1:14 pm Subject: |
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This is the latest email I have received from MyPaydayLoan.com Granted I pointed out to these people that I have paid $1,333.74 for a $400 loan and $1032.38 for a $512.00 loan they still want me to pay them $679.00. I have already filed 2 complaints for other PDLS with the BBB, if I keep filing compalints they are going to think this woman was stupid...she's getting what she deserves...LOL
Please see the response I just got from the idiots at Mypaydayloan.com
| Quote: | This is the THIRD and FINAL attempt to assist you in paying off this debt. if you do not understand the document below then you need to refer to the contract that you signed. and by signing you were stating that you understood the terms of contract and the loan you were entering into. Apparently you did not read the contract you just simply signed your name to it so you could get the funds you needed. and that´s unfortunate but there is nothing that can be done about that. which is why I am offering this payment plan for you. I will need to know by 5 p.m. EST Wednesday 7/23/08 what your decision is.
PLEASE READ AGAIN THIS IS YOUR REQUESTED INFORMATION!!!
MyPaydayLoan.com
Centro Colon. 8 avo piso. Oficina 8-4
San Jose. Costa Rica
Phone: 888-269-2303
July 18. 2008
Dear Karen Hutcheson.
We would like to clarify the issue pertaining to the transaction you originated with our organization. We would like to point out we are incorporated in. and operate over the Internet. with our offices based out of San Jose. Costa Rica. By engaging in a transaction with us. you have availed yourself to be subject to the internal laws of Costa Rica for this particular check advance agreement. Specifically your contract states under the Governing Law section ´Both this agreement and the application is considered to be executed at our offices in San Jose. Costa Rica. and this agreement with us shall be governed by. construed. and enforced solely in accordance with the internal laws of Costa Rica.´ If you would not have agreed to avail yourself to this jurisdiction as the sole contract venue (which was your prerogative). you would have not been provided with the advance from our company. There is no conflict with federal regulations. and although certain states may have more restrictive regulations. when dealing with international law pertaining to contract venue. federal regulation supersedes state regulation. and this particular transaction is governed by Costa Rican law. not Indiana law. regardless of where you reside. Your remaining balance on this account is $697.66. I am willing to allow you to out this balance in installments but this balance must be paid in full by the end of September. Should you choose to accept this offer I will need from you dates and amounts to schedule for payments should you choose not to accept this offer then your account will be forwarded to anoutside collection agency where additional default fees will apply.
Thank you again your cooperation.
Sincerely.
Ashleigh
Collections for Mypaydayloan.com
1-888-269-2303 ext 4 |
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Cardskh
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| Posted: Fri Jul 18, 2008 1:37 pm Subject: |
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Okay, here is a copy of an email I sent to one of mine. Try the different wording. Make sure to say how many times you've attempted to contact them regarding the validity. Also, be sure to attach the letter from Mark Tarpey, and the Indiana Laws. They don't like it when you know what the law is:
THIS IS MY FOURTH REQUEST for verification that the company is licensed within the state of Indiana, a validation of my debt and total amount owed including fees, validation of any amounts paid by me towards the principal of the loan, and a copy of my original loan contract and all forms signed by myself, either electronically or otherwise. I am revoking any wage assignments agreements I may or may not have signed effective immediatly (6-24-2008) It appears to me that you are in violation of Indiana State Law Ind. Code Ann. § 24-4.5-7-101 et seq., and that I have overpaid this loan by at least $200 according to the law. I am requesting that a refund of ALL amounts over paid by me mailed to me at my address on file.
Since you do not seem to be willing or able to provide me with the requested information, I will be filing a complaint with the BBB as well as with the Indiana State Attorney General. You may contact me via email or USPS with the address on file only. Please see information below. Thank you in advance.
| Quote: | Jennifer Bailey
account # 422000
Quote:
NOTICE TO UNLICENSED INDIANA LENDERS WHO ARE SOLICITING
BUSINESS IN INDIANA
Investigation by the Indiana Department of Financial Institutions (“Department”) has
determined that your company is among several unlicensed entities making or offering
consumer loans to residents of Indiana via the internet.
Depending on the type of loan being offered, your company is in violation of IC 24-4.5-
3-502 and/or IC 24-4.5-7-102. These statutes reference consumer loans, and/or Small
Loans (commonly referred to as “Payday Loans”) and require a license issued by this
office in order to make these consumer loans.
During the recently concluded session of the Indiana General Assembly, there was a
change to the statute governing the territorial application of the Indiana Uniform
Consumer Credit Code, including the Indiana Small Loan Act. Effective July 1, 2007, IC
24-4.5-1-201 requires internet lenders to be licensed, and to comply with Indiana law, when making loans to Indiana residents. Additionally, IC 24-4.5-1-201( reads “If a
creditor has violated the provisions of this article that apply to the authority to make
consumer loans (IC 24-4.5-3-502), the loan is void and the debtor is not obligated to pay
either the principal or loan finance charge, as set forth in IC 24-4.5-5-202.” You are advised to Cease and Desist the offering of these types of loans to Indiana
residents unless/until you have obtained the proper Indiana loan license. Consumers will
be advised that these loans are not in compliance with Indiana Statutes and that these
loans are considered null and void, and as a result, uncollectible. Additionally, the
Department may seek injunctive relief under IC 24-4.5-6 in the event of continued noncompliance.
All Financial Institutions operating within the state of Indiana will be advised that
electronic payment and / or paper/check transactions connected with these illegal loans
should be rejected if an entity is unlicensed. Consumers will also be advised on the
procedure to stop electronic debits to their accounts using return codes.
Questions concerning the acquisition of a loan license may be directed to this office.
Information is also available via our website at www.in.gov/dfi
Sincerely,
Mark B. Tarpey
Supervisor – Consumer Credit Division |
| Quote: | Indiana State Information
Citation:
Ind. Code Ann. § 24-4.5-7-101 et seq.
Loan Terms:
Maximum Loan Amount: $500 (not to exceed 15% of borrower's monthly gross income)
Loan Term: Min: 14 days
Maximum Finance Rate and Fees: 15%: $0-$250; 13%: $251-$400; 10%: $401-$500
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One per lender; Two total
Rollovers Permitted: None (cannot renew, repay, refinance or consolidate)
Cooling-off Period: 7 days after 6 consecutive loans
Repayment Plan: After 6 consecutive loans, lender must impose a 7 day cooling off period or convert to an installment loan payable in more than 4 installments at a rate no greater than 36% APR
Collection Limits:
Collection Fees: One $20 NSF fee; additional charges may apply when check or authorization to debit was used to defraud another |
Criminal Action: Prohibited
http://www.in.gov/dfi/
I hope this helps some
Jen
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jennifer_bailey75
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| Posted: Fri Jul 18, 2008 1:52 pm Subject: |
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I personally would not have contact with them anymore. I think you are wasting your time. The loan was illegal and made by a company offshore. They can't sue you but you can't sue them either. Easiest thing to do now is hang up if they call and change any contact numbers you can change. I would change my cell# immediately. If they have your work number you will need to get a bit more creative to stop those calls.
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DOLLARSandSINCE
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| Posted: Fri Jul 18, 2008 1:59 pm Subject: |
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Correct me if I am wrong, but doesn't international laws apply on business to business transactions? Since this is a business to individual transaction, they must abide by the laws of the locality that you are in when you signed. If they are trying to claim that you agreed to have it marked as having been signed in Costa Rica, then they need to go through the US State Department in order to harass a US citizen.
Additionally, Federal Law does not trump state law in a case such as this. And finally, if they are not licensed, as required by your state, then the contract is immediately null and void. Effectively, they are in breach of contract due to not having proper documentation proving authority to sign contracts in your state.
This is my understanding in a nutshell, but remember that I am not a lawyer. (perhaps one will come along and confirm or correct my ramblings?)
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drburr
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| Posted: Fri Jul 18, 2008 4:02 pm Subject: |
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card. . .try sending it to that address again.
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llw1995
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| Posted: Sat Jul 19, 2008 5:35 am Subject: |
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PayDayLoan.com is registered in Costa Rica but the Admin contact is the UK address. I sent a "blank" email to the "nudom@netbenefit.co.uk" address and it did not come back to me. Try sending your communications to that address again.
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llw1995
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| Posted: Mon Jul 21, 2008 7:20 am Subject: |
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I just resent the email to the UK email address. So far I have not gotten it returned. This is the PDL that is harassing me the most. The even sent me an email on Friday afternoon telling me I would have a phone call free weekend if I would set up a payment. The difference with them and the other companies is that the other companies I am fighting with are at least trying to over some settlement (even though I have already overpaid them) My Payday Loan.com wants me to continue regular payments and keeps asking for me to set them up. They are nuts. I have paid them more than the rest. They are even threatening to put me on the Star system and they noted if they did this I wouldn't be able to write checks with Target or Walmart....this is bull crap...I never wrote a bad check! I'm getting to the point I want my money back.
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Cardskh
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| Posted: Mon Jul 21, 2008 7:25 am Subject: |
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card. . I hope this all works out for you. I know how frustrating it is to have to deal with these slugs. I am hoping that you can get that email over to the UK address. No promises, but it worked for me with Star Advance. Think positive and keep us posted.
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llw1995
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| Posted: Wed Jul 23, 2008 3:41 pm Subject: |
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I'll tell you what they are persistant little bugars, they call my cell every hour on the hour, but I just hit ignore. I'm not going to stress about this. They can keep calling.
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Cardskh
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| Posted: Tue Jul 29, 2008 12:47 pm Subject: |
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It's me again....cardskh aka kalynn...well out of all the PDLs I am fighting MyPaydayLoan.com seems to be the worst of them all. They have reported me to CheckScan so I can no longer write checks to retailers, they called and left a message on my voicemail at work threatening to call my HR department and now they are calling my 72 year old mother in law's house. I have paid these jokers almost $1500 for $512.00 This is so friggin ridiculous. What should I do next to let them know I mean business?????????????
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Kalynn
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