Credit Protection Depot (discountadvances.com and mycashnow)

Hi everyone...

I just got a letter from Credit Protection Depot saying they are going to take further action:



__________________________________________________ __

I went to mycashnow and discountadvances for which these people collect for and those two companies are in Granada....

Well not only that, these companies are not licensed to do business in AZ or any other state. According to AZ law, the debts are void and I do not have to pay them anymore. I have paid 150 dollars each which is half the principle for both of these and the bank account used at the time has been closed. I'm thinkings about giving these people a call to give them a coaching about AZ law. As for the letter, I'm going to laugh and shake it off. The debts they are trying to collect are void.

I think they must have sent out a flurry of letters to customers recently, as Morningstar also got one. I would also report them to your state AG if nothing else fails. At any rate, I would send them a copy of the letter you got.

..and also, careful leaving your name in and posting it here.

Yeah I will probably send a letter to the AG office. These people need to be stopped. If they every did try to take me to court, no judge in the state of AZ will side with them.

Sounds like a plan--I'm sure the AG would be very interested in this!

Most of us have sent letters to our Ag office. In some instances they help , but in some they do not.

Did you ever receive anything else from this lender?

danka...I had a MyCashNow and PayDayMax loan and was contacted by CPD on both. They closed my MCN account (it was paid in full for the original loan amount) and I settled PDM with the remaining balance on the original loan amount as well. It was pretty quick and painless for me. They called me once, I sent a copy of my C and D letter to them and the next call closed both of them. Like Kash said, sometimes the AG's office helps, sometimes not. I am finding that I am not getting much help from them but since I am now dealing with just 2 PDL's I am being more aggressive with the AG's office.

I borrow 600.00 from discount advances I was unable to make the bi-weekly payments. I started to receive phone calls all day long I ask the them to send me a letter stating that he is authorize to collect this debt he said I don't have to send u a letter. He said I must go to kmart and send him 1353 before 12pm. I ask him not to call me. He calls25 times a day.

What state are you in? How much have you paid so far?

I live in New York. No payments made with discountadvances P.DM contacted me regarding Mycashnow account I borrow 135.00 the person who is handling my account stated I owe 312.00. I paid 200.00 as of this date.

PDLs are illegal in NY.

Here are your state laws.

If your borrowed $135 and paid back $200 you are done and they in fact owe you $65.

You can go here and read the steps to take when dealing with an illegal lender.


For illegal/unlicensed lenders you only owe back the amount you borrowed.

Thank you for your help. I will follow immediately.

Thank you for your help. I will follow immediately.

Good Luck and keep us posted.

They had me pay through western union and then banged out my checking account for over 1000! Also they have sold all my info to other spammers and my checking acct was billed fraudelently from uclipandsave.com what a scam beware