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Posted: Thu Jul 12, 2007 4:51 pm Subject: I havent heard a word from cashnetusa

i have 1 pdl cashnetusa im going to pay them off next month but when i brApplication date: Wed Jun 27 09:18:03 CDT 2007
Funding Date: July 03, 2007
Due Date: August 03, 2007
Status: Withdrawn
Extensions Available: -1
Principal: $350.00
Loan Fee: $87.50
Discount Amount: $0.00
NSF/Late Fees: $0.00
CSO Interest: $0.00
Loan Amount: $437.50
Payments Made: $0.00
Extended Amount: $0.00
Amount Outstanding: $0.00

Contract(s) & Signature(sing up my acct it says thiscan someone tell me whats going on ive tried to email them and havent heard a word from them.

Posted: Thu Jul 12, 2007 4:54 pm Subject:

i forgot to mention i live in oregon

Posted: Thu Jul 12, 2007 4:59 pm Subject: cashnet

Wait a minute. Did you receive the funds? I'm confused. Where is says "Status" it's saying "withdrawn". Did you actually receive funds from them on July 3rd??

Posted: Thu Jul 12, 2007 5:07 pm Subject:

they rolled it over and just took out the 87.50 i had 1 more time i could roll it over

Posted: Thu Jul 12, 2007 5:19 pm Subject: fees

Okay. So they took their "fee" only. So that means you still owe the $400 something dollars, according to them. You don't have to have it paid until August 3rd? Do you pay it in full then or what? They don't debit any more until August 3rd? Has anyone posted your state law regarding pdl's yet? So that way you'll know how much they can legally charge you? And did you find out if the licensed to do business in your state?

Posted: Thu Jul 12, 2007 5:38 pm Subject:

yes i owe 437 which like i said ipay it in full on the 3rd they take the whole 437 unless i go into my acct and ask them to just take the fee. what i dont understand cannr just yesterday that status was still open and i had 1 more time i could ask them to just take the fee but today it says withdrawn and -1 if i dont get a answer from them i call them tomorrow and have them take the full ammt and thats another pdl gone

Posted: Thu Jul 12, 2007 5:45 pm Subject: confused

Well, they've definately confused me - let alone you! If you have the money, just pay the idiots off. I noticed the "negative 1" on there. What? Talk about losing your mind! Call them and ask what the heck is going on. If you have until the 3rd of August, you could just save up the money a bit at a time and pay them on the 3rd. That way you won't have to shell out almost $500 in the next few days! Let me know what's going on!

Posted: Thu Jul 12, 2007 5:47 pm Subject:

i will thank you

Posted: Thu Jul 12, 2007 5:58 pm Subject:

cannr i just got ahold of someone from cashnet usa and because the laws changed on july 1 in oregon which i knew there are no more rollovers and on august 3 they will be taking the full 437.50 and its pd off. i also told her to send me a letter stating it was pd off but they also send a email stating the same thing.

Posted: Fri Jul 13, 2007 7:06 am Subject:

Yep - The laws changed here as of July 1 (I'm from OR too!). They can only rollover 2 times - and the loan term now has to be 31 days or more, which is why the due date is so far away.
Also, there is now a 7 day waiting period. Meaning when you pay off this loan in full on Aug 3, you will not be able to reloan until Aug 10.
Cash Net USA is a legally licensed company in OR. This is long, but really explains the new laws well.
goudah2424 - comment1

Posted: Fri Jul 13, 2007 7:14 am Subject:

So reading this it looks like Cash Net USA may not be complying completly with the new law -
goudah2424 - comment

Since they allowed you to rollover the loan they cannot charge an origination fee. I read this to mean they can only charge you the 36% interest - For a 31 days term your interest would be about $10.71 . . . . Since this is a licensed company, I would contact Charles Donald at the Oregon Dept of Banking and tell him your situation - He can tell you if they are breaking the new law and what they can do about it.

Guest · Posted: Fri Jul 13, 2007 7:47 am Subject:

thank you goudah im dealing with storefronts in oregon and what a difference. i call today and find out oregon has really cracked down on pdls

Posted: Fri Jul 13, 2007 8:02 am Subject:

Yep - Did you see the front page of the Oregonian the other day? Something like 60 storefronts have already closed down . . .

Cash Net USA usually tries to follow all the laws, so I bet if my statement is correct, they will change your amount owed pretty quickly . . . .

Posted: Fri Jul 13, 2007 8:52 am Subject:

i just called yesterday and was told i still owe the 437.50 now what

Posted: Fri Jul 13, 2007 8:55 am Subject:

Call Charles Donald at the Dept of Banking - File a complaint - The law clearly states that any loans funded or rolled over after July 1 MUST follow the new laws. The date on this is July 3, so they don't really have a choice. The new laws are so tight that they have no way around it.