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stressedout

I have two PDLs one with Paydayone one with MyCashNow.

I contacted Paydayone today to arrange a EPP, they flat out refused to help. I have read on this website that people have been successful with dealing with them and they are willing to do arrange a EPP and stop the crazy interest/fees. Does anyone have advice out there to deal with this? Should I jsut call again and try to talk to someone else?

MyCashNow is a nightmare. I have $1000 loan with them and I have paid 399 in an extension already. I have another 399 coming out of my account later this month. I called them and they forwarded me to Credit Protection Depot and no one even greets when the phone is picked up. I am honestly scared to even deal with them. I know they are illegal so I don't even know how to approach them.

I dont' want to default on my loan. I can't close my bank account. I can't have them harrass me at work, I will get totally fired. I am in such a nightmare and I feel like there is no way I can't get out of this hell.

Please any advice would be helpful!

Posted: Mon Aug 18, 2008 11:47 am Subject:

What state are you in? The EPP isn't available in every state.

stressedout · Posted: Mon Aug 18, 2008 11:52 am Subject:

I am in Texas.

Posted: Mon Aug 18, 2008 12:04 pm Subject:

Payday One is a legal CSO in Texas.

Posted: Mon Aug 18, 2008 1:03 pm Subject:

well since goudah said that, maybe you can try and talk with someone else.

Posted: Mon Aug 18, 2008 1:04 pm Subject:

MCN is one of the ones that you have to play hardball with, they will turn you over the CPD QUICK! And they call and say all types of things, but don't be discouraged, be strong!

stressedout · Posted: Mon Aug 18, 2008 1:10 pm Subject:

I can't even talk to MCN directly, they automatically transfer me to CPD, to arrange a payment plan. I feel so helpless and trapped, like I am in the mercy of whoever I end up talking too. Should I just ask to talk to a supervisor? I mean it's not that I want to default on my loan but I am scared to say I found out you are illegally operating, etc and have them automatically take out the whole amount out of my bank account!

Posted: Mon Aug 18, 2008 1:13 pm Subject:

what can they do if you say that? all they can say is it isn't true, if they take the full amount out go back and dispute it with your bank. since you cannot close your acct its going to be difficult.

stressedout · Posted: Mon Aug 18, 2008 1:25 pm Subject:

Totally true, I mean they can't technically take out the principal because I am not defaulting on the account. Honestly, I am just so scared to deal with them, I am scared that they have the means to make my life hell, call my boss, etc. What a nightmare.

Posted: Mon Aug 18, 2008 1:28 pm Subject:

and that fear is really what the prey on, what the hope for!

sad but true!

mymadde · Posted: Mon Aug 18, 2008 7:28 pm Subject:

I have had loans with my cashnow before and they are probably the easiest ones I have ever worked with I have paid the loan of and never heard anything since

friendly help · Posted: Tue Aug 19, 2008 5:13 pm Subject: My Cash Now

If you do not want to close your checking account then you will be at the mercy of this predetory lender. Send them a Cease Communications letter first. Make sure they received it by sending it certified return receipt requested and close your checking account with assurance from your bank that an ACH pull will NOT re-open it. Then stick it to them and let them now the only way that you will agree to a plan is that it is on YOUR terms and NOT theirs. There is no such thing as debters prison in the united states unless you mess up federally. Find out your protection from the FTC (Federal Trade Commission) and look up the "fair debt collection practices act". For the most part, no lender is going to work up a payment arrangement outside of their terms on an account that is not in default. sorry...

Posted: Tue Aug 26, 2008 1:43 pm Subject: My Cash Now

MyMadde

MCN is easy to work with? You must be an employee of MyCashNow! They are criminals, plain and simple....operating illegally, unlicensed and out of this country.

They also use a nasty group of collectors named National Credit Adjusters, in particular a scumball named Kris Waltner who will threaten to sue and garnish your wages. Yeah, right. MCN is illegal!!!

I told them to take hike after I added up the illegal interest I paid on 6 loans (NJ has a 30% cap on interest AND PDLs are illegal there, too), deducted it from 7th loan I did not pay..they ended up owing me 215.00. And, yes, I am going to get my money from them, too! I have systematically been faxing, e-mailing and calling them. Filed complaints with the NJ and Kansas AG, too. It is most gratifying to turn the tables on these bottom-feeders.....I'm actually having fun playing with them, too.

Posted: Tue Aug 26, 2008 2:58 pm Subject:

I dealt with MYCASHNOW and they were not easy to deal with at all. They harrassed me everyday and would not accept payment arrangements through my debt management program. So when there nasty collection agecny called and scared me into thinking they were lawyers and they were going to sue me I paid them. I was still new to this site and hadn't learned all my rights yet.

Posted: Tue Aug 26, 2008 5:52 pm Subject:

I have to agree with mymadde. I had a loan with both PayDaymax and MyCashNow, both connected to CPD. I sent a copy of my C and D letter over to William Reed and a received a return phone call informing me that they had credited all my payments to MCN and marked it paid in full. They also credited all my payments on my PayDayMax loan, and asked for only what was remaining on the original loan and that was marked paid in full as well. Quick, painless and over in a heartbeat. I am assuming that an additional $399 has already been credited, so technically you still owe $302 on that loan. Close your account, and make arrangements to repay what is remaining. Don't be scared of them. . . . . .that is what they operate on.

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