Internet's first get-out-of-debt community - 123,000 members

mollitime · Posted: Mon Jun 09, 2008 1:48 pm Subject: Loan Shop

This morning I filed a BBB and an AG complaint against the loan shop I faxed a copy of my complaints to the Loan Shop and within a few hours received the following response. What are your thoughts? I
would like them to mail this to me instead of thru email. Also I would not want this on my credit as account closed I would like it removed completely.
I dont really understand the last part can someeone read and tell me your thoughts?

June 9, 2008

A complaint was received from you via email regarding a matter with us. A $300.00 was provided to you by The Loan Shop/Broadmore Ventures on 10/12/2007, on which you have currently paid $25.00. A $25.00 Money Gram payment was made on 11/6/2007. There have been no other payments made and there are no arrangements on file to do so. I appreciate your patience and cooperation as we are attempting to reach an agreement to close your account.

SETTLEMENT OFFER: ACCOUNT CLOSED

I apologize for any frustration you have experienced throughout your repayment process. To date, a total of $25.00 has been paid towards the $300.00 that was loaned to you. However, I believe it is in the benefit of both parties to simply close the account today. It is apparent that you are experiencing a financial hardship and there has been a miscommunication regarding which company has been accepting payments from you. If this is agreeable to you, please sign and fax the attached release at your earliest convenience. Please retain a copy for your records. The attachment to this email is a release agreement that indicates you have agreed to end your dispute by having your account closed immediately. Your account will be closed IMMEDIATELY upon receipt of the attached release form.

There absolutely will not be any collection activity taken against you and this email is meant to confirm that in writing.

This email and the attached release form combined are written records that neither of us will continue to dispute the matter with the other. You will have no future obligation to make any payment regarding this matter.

My contact information is included below so, if you have any questions or concerns about the release or any other matter regarding your account, please feel free to contact my office anytime.

Sincerely,

William Mashburn

(Mutual Agreement Release information deleted for safety/privacy reasons. cannr)

Posted: Mon Jun 09, 2008 2:46 pm Subject:

Nice..... sounds good. Just be careful if they start asking for a new bank account, etc in order to do this.

Posted: Mon Jun 09, 2008 7:06 pm Subject: Loan Shop

That is nice of them. I had to fight for my paid in full and a refund.

Posted: Mon Jun 09, 2008 9:06 pm Subject:

Sign it, send it to them and keep a copy for your files.

Guest · Posted: Tue Jun 10, 2008 11:41 am Subject:

How did you do this? I am fighting with Loanshop right now, and I've paid more than $25 on my loan.

Posted: Tue Jun 10, 2008 11:52 am Subject:

mollitime, the Loan Shop is closing your account. They will zero out your balance, you owe them nothing more, you will not be contacted again, and no collection efforts will be made towards the loan, okay? That's what the "Mutual Agreement" thing is saying. Sign that bad boy and send it in! You will be DONE with them. I have done this with a couple of my pdls. It never came back to bite me in the a$$. It all went fine.

However, I am just informing you that I am removing the "Mutual Agreement" from your post. If they find that you shared this information (since it's confidential), they may retract their offer. I will leave the post as is except for the "agreement" part. This is for your safety, okay? Very Happy

Posted: Tue Jun 10, 2008 11:56 am Subject:

Also, mollitime, the email will hold up just fine. You don't have to have them mail you this via USPS. Your email is written documentation. Just wanted to add that! Wink