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 Posted: Mon May 05, 2008 8:03 am
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Does anyone know if PayDayMax and MyCashNow the same company? I settled with MyCashNow in January after paying almost $2600 on a $1000 loan.
I am now dealing with PayDayMax and have paid them $93.10 on a $500 loan before closing my account. I've tried for the last week and a half to send PayDayMax a letter explaining about their illegal loans and offering to repay the $406.90 I feel obligated to pay on the principal, but the e-mails keep bouncing back.
I got an email from CreditProtectionDepot insisting I owe them $724.50 on the PayDayMax loan. Does anyone have an e-mail or fax number for PayDayMax/CreditProtectionDepot. If they are indeed the same company as MyCashNow then I want to see if they'll apply the amount overpaid to MyCashNow to the PayDayMax loan and call it PIF. (I know - wishful thinking)
thoeypgh
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thoeypgh
Joined: 11 Apr 2008
Posts: 18
Debtcc Points: 398
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Posted: Mon May 05, 2008 8:47 am
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punch in credit protection depot on the top of this page and you should get posts which contain a fax number for Credit Protection Depot. I sent a copy of my C and D letter over to them. Yes, they use the same company, CPD. I settled for the original amount of the loan. Also, please check the sticky above regarding ACH Processors. PDM is ACH Commerce. Give them a call. Tell them that you have revoked their ACH authorization and they continue to debit. Good luck.
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llw1995
Joined: 02 Feb 2008
Posts: 862
Debtcc Points: 10242
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Posted: Mon May 05, 2008 11:42 am
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I faxed my letter here:
Credit Protection Depot, Inc.,
4601 West Sahara Ave., Suite 1
Las Vegas, Nevada 89102
Their fax number is 866-645-1662
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minsmi
Joined: 17 Apr 2008
Posts: 44
Debtcc Points: 492
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Posted: Mon May 05, 2008 12:44 pm
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Great! Now call ACH Commerce and make a complaint about the ACH authorizations. Their number is listed on the sticky I believe. Keep us posted.
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llw1995
Joined: 02 Feb 2008
Posts: 862
Debtcc Points: 10242
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Posted: Thu May 08, 2008 6:45 am
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Thanks for the fax number. I was finally able to send them my request. Waiting to hear. . .
thoeypgh
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thoeypgh
Joined: 11 Apr 2008
Posts: 18
Debtcc Points: 398
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Posted: Thu May 08, 2008 7:56 am
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Having dealt with Mycashnow, I can assure you, you'll hear from them, alright. Just hang tough and don't let them bother you. There IS a light at the end of the tunnel.
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wheadle
Joined: 27 Mar 2008
Posts: 17
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Posted: Thu May 08, 2008 8:42 am
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Call their processor. ACH Commerce. It could be over before you know it.
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llw1995
Joined: 02 Feb 2008
Posts: 862
Debtcc Points: 10242
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Posted: Thu May 08, 2008 9:32 am
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Here is a reply I sent to My Cash Now from their collection letter:
Thank you for you coorespondence. A letter was sent to you with regards to Pay Day Lending in North Carolina on February 12th and via fax on February 18th. Pay Day Lending is prohibited in the state of North Carolina. In this coorespondence I requested to hear from you via the US Postal Service by March 12th, 2008.
Below is a response with regards to Pay Day Lending that was received by the North Carolina Office of the Commsioner of Banks:
There is no law that authorizes payday lending in North Carolina;
internet based payday lenders are not granted licenses for such activity
in North Carolina. Interest charges on such loans could be illegal here
in North Carolina.
Reitzel Deaton
Director, Consumer Industries
North Carolina Office of the Commissioner of Banks
919-733-3016
During the cycle of lending with your company I have paid numerous illegal interest charges. I am currently working with the NC Attorney General as well as the NC Banking Commision to determine, through bank statements, the exact amount of interest that was paid during the coarse of 2007-2008 on these loans. I demand a refund of all interest fees paid to you after the remaining principal balance, approximatly $260.00, on the last loan has been deducted from those charges. I am also in contact with the ACH processor for loans made by your company, ACH Commerce, to complain with regards to illegal lending in North Carolina.
Be advised that you are "attempting to collect" on a debt for a payday loan that is illegal in the State of North Carolina. According to N.C. Gen. Stat. ยง 53-173, payday loans are not allowed in the State of North Carolina. Any further implications or action that results in this illegal debt being reported to any of the 3-major credit bureaus is an underhanded violation of the Fair Credit Reporting Act (FCRA). You will leave me wth no choice but to swiftly seek legal counsel and Cash Now will be placed in a position to validate the legality of this debt along with the claim that "services charges are accrued each day".
I will be in contact further with regards to the amount of the refund that is due to me from the illegal intrest charges as well as a letter marking this account "paid in full" and hope that we can resolve this issues as soon as possible.
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angell
Joined: 16 Oct 2007
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Shazzers
Moderator
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Posted: Thu May 08, 2008 10:37 am
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I will thanks! Volley helped me with the last part 
I am going to construct the same letter to M1Y in the hopes of obtaining a refund. I still haven't heard from them and I way overpaid!
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angell
Joined: 16 Oct 2007
Posts: 267
Debtcc Points: 167
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Posted: Thu May 08, 2008 11:50 am
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I went through all of my bank statements to pull out the deposits and debits by MyCashNow and PayDay Max.
From May of 2007 until February 2008 I overpaid MyCashNow by $1,525 but still owe PayDayMax $406. If these are both the same company (CreditProtectionDepot) then how do I work with ACH Commerce to try and force PIF's or possibly a refund?
I have the number and e-mail for Gail Sauter at ACH Commerce but how should I approach her?
Thanks for everyone's help - I feel much better about my situation now that my account is closed and I can take care of necessities.
thoeypgh
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thoeypgh
Joined: 11 Apr 2008
Posts: 18
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Shazzers
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Posted: Thu May 08, 2008 1:09 pm
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Send her an email stating exactly what has happened but keep the issues separate, as you are dealing with two different things. You still owe on PayDayMax. Tell her that they are an illegal company and they will continue to debit your account. Also tell her that you have revoked your ACH authorization. I do believe that reporting them to the processors is important but you also need to let MCN and PDM know what you have done. Get as much info as you can from your bank regarding the originator of the transaction. The more "names" you have, the more ammunition you can use against them. Telling them you called their processor is just that. But if you tell them that you spoke with so and so and such and such, they will know that you mean business. Also include the phone numbers of the people you speak and any names you may have. To me it seems like an idol threat unless you have info to back it up. I listed names, addresses, companies, phone numbers when I sent my email. They knew I wasn't kidding. They don't want the bad pub. If the processors drop them, it won't be easy for them to do business. I have to believe that if enough complaints come through the processors won't want the hassle, especially when they are going agains a revoked authorization of an ACH. Just keep at them. Don't give up. Don't back down. Keep sending those emails. I have dealt with both of them. Also, one other thing. Make a copy of your C and D letter to both MCN and PDM. Fax it over to Credit Protection Depot. I got a call from them immediately marking one account PIF and the other settled at what they deposited into my account. You can't just hit them with one angle. Keep finding ways to get to them and use all of them.
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llw1995
Joined: 02 Feb 2008
Posts: 862
Debtcc Points: 10242
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