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So...I emailed quickest cash advance the other day...not revoking charges or anything...just saying I have paid so much in interest $800 on a $300 loan and I realized after alot of research that they were illegal, but I am still going to own up to my obligations and finish paying off the loan, however, I have reported them to the Attorney General, Better Business Bureau, and the FTC.

Posted: Fri Jun 06, 2008 4:42 am Subject:

We have received and reviewed your correspondence regarding your complaint with the company.
While the information that you have collected may apply to companies that have physical locations in your state, it is our opinion that it does not apply to our internet business model. This is based on sound advice from our legal department. In addition, the Legal Disclosures provided for customer reference at our website state the following:
Regardless of where you may be viewing or accessing this site, you as the borrower are responsible for complying with any local statutory obligations that may exist in your state or area with respect to this transaction. The Federal laws governing this consumer loan agreement may differ from the laws of the state where you reside. If you do not want to enter into a consumer loan agreement with us under our terms, then you should apply for a loan at a provider located in the state where you live.
Based on the information supplied in your complaint, it is evident that the information derived from some sort of form or template, as it does not apply to your particular loan. It is strongly advised that consumers do not fall prey to the contributors of this type of information, as it is not always true, nor does it apply to every circumstance. Often, the information actually incriminates the consumer for not abiding by the laws of the state that they live in. Additionally, any contradiction to a consumer’s signed loan agreement can actually put them in default. While it is appealing to a consumer to find what appears to be an "easy way out" of their debt, there is no such thing if the debt is substantiated by a legal, signed contract. Using information containing legal jargon that you have not actually researched in an attempt to threaten a company into writing off a balance that you know you owe can actually be harmful to you as a consumer.
The money was lent to you by our company in good faith with the understanding that you would abide by the terms detailed in your loan contract, just as we upheld our end of the agreement by crediting the funds to your account in a timely manner. The Loan Note and Disclosure that you e-signed and thereby agreed to is very detailed and clear so as not to cause any confusion to you, the borrower, and meets all the Truth-In-Lending and Reg Z requirements as prescribed by Federal statute. You had the option, as detailed on your loan contract, of paying your loan off at any time. Unfortunately, not making that selection and instead allowing your account to automatically renew on your due dates caused you to accrue additional finance charges.
Due to the fact that you are clearly in a situation that led you to use any information that you could obtain in an attempt to relinquish your debt with our company, and in the interest of good customer service, we have agreed to waive all finance charges currently due on your loan and settle for complete payment of the principal balance owed. It is our hope that this will ease some of your financial burden, as well as avoid further collection efforts that would inevitably ensue should you default on your loan agreement.
We will be prepared to provide you with the information necessary for repaying the $50.00 that remains due on your principal balance, after waiving your $15.00 finance fee. Payment must be received by you in the form of a Cashier’s Check or Money Order, as you have revoked our authorization to debit your account. We expect this offer will bring us to an amicable resolution.
Please acknowledge your understanding and acceptance of our proposal if you are in agreement with the offer detailed above, and advise which payment method you will use. Once your acknowledgement/agreement is received, we will provide you with the information needed to make the payment. Once we have received this payment, we will mark your account "Paid in Full."
If your response is not received within seven (7) days of the date of our offer, the offer will become null and void and collection efforts will resume.
Thank you for your time and consideration in this matter.
Respectfully,
Compliance Department

Posted: Fri Jun 06, 2008 4:45 am Subject:

well they knocked off some money...my principal was $100....they didn't charge my account today...the normal $50 and finance charge of $30. So whatever...I will give them the $50 just to get rid of them...I still filed complaints. But I never revoked charges and just typed an email...did't go off of one of the letters in the forum....did they even read the complaint? I know others have received the same response...just thought it was weird that I received the same one...when my complaint was totally different....I swear, they are ridiculous.

Posted: Fri Jun 06, 2008 5:07 am Subject:

Hello Toledoguy,
They sent me the same reply, I think it is a basic reply to anyone who files a complaint with them. The proof is in the pudding with the revocation of ACH authorizations, you never initiated that right. So why are they claiming you did? Also, why would you pay them $50 if you have overpaid the already $800?? What state are you in?

Posted: Fri Jun 06, 2008 5:10 am Subject: reply

it really shouldn't matter my friend anya,if what toldeo says is true about 800.00 on a 300.00 loan.he should get a refund pure and simple.i saw the first post.you already honored your obligation to an illegal loan and then some.

Posted: Fri Jun 06, 2008 5:11 am Subject:

I totally AGREE! I had MTE, and they tried that with me.

Posted: Fri Jun 06, 2008 5:29 am Subject:

yeah...i emailed them back saying since they thought i revoked debits...i now am and i am not going to pay the remaining $50 left. but i have never heard of anyone getting a refund from MTE so i didn't pursue that

Posted: Fri Jun 06, 2008 5:40 am Subject: reply

i'm still fighting AMERILOAN for the 150.00 i overpaid.i would throw some verbage in there about how much overpaid,but wouldn't count on a refund.

Posted: Fri Jun 06, 2008 5:44 am Subject:

i did twice now....$830 on a $300 loan....i made sure to include that....but they never called or anything...never...just stopped debiting my account thinking i revoked charges...and i love the part where they said my email was from a template...when it was like 4 sentences.

Posted: Fri Jun 06, 2008 5:59 am Subject:

I swear these PDL companies are jokes. I will NEVER use them again. I had 11, now I am dealing with my last 1. No More for me! I enjoy havin control of my own money. The scare tactics most use are unbelievable..WOW! Sometimes I think the CS rep do not belive it..lol! There are really helpful people here on this forum who have pretty much answers to anything though. Do not take them lightly, but I have found SOME not ALL "internet" PDL companies with VERBAL agreements do not have a legal leg to stand on. So if you have your arsenal ready, you can fire away! Do not let them intimidate you! Razz

Pachacutec · Posted: Fri Jun 06, 2008 7:35 am Subject:

I'm assuming everyone gets these "generous offers" from MTE after they've closed their checking accounts, etc. I'd be willing to bet that a good part of MTE's "generous offer" is to try and get your new checking account information!

Posted: Fri Jun 06, 2008 7:38 am Subject:

my account isn't closed....and i never revoked the debits...that is the thing. but they said i could send in a cashier check for the last $50...which i will not be sending in. i have never sent a cashiers check...but i don't think you have to put your account info on there? do you? maybe i am wrong?

Pachacutec · Posted: Fri Jun 06, 2008 9:37 am Subject:

No, I'm assuming you can get a cashiers' check at any bank and I dont' think your account info would appear on it. But if you've already paid $800 on a $300 loan, it would seem to me that they should send YOU a cashiers' check.

Posted: Fri Jun 06, 2008 9:41 am Subject:

yeah...i know. but from what i have read and researched about MTE, I am not going to hold my breath on a refund from them. i am still waiting on a response back since i sent one asking if they even read my complaint and how now i am revoking debits and not going to send in the last $50...i did throw the refund thing in there as well for good measure.

Posted: Fri Jun 06, 2008 9:45 am Subject:

You will turn blue waiting on that refund. Hopefully if you filed with the AG you can squeeze a refund out of them, but MTE is tough. Most likely shoot for a "PIF" letter and call it a day. Best of luck to you!!

Pachacutec · Posted: Fri Jun 06, 2008 10:06 am Subject:

I'm dealing with an MTE "dba" myself, and I know the chances of getting anything from them are slim and none; but if you've paid them $800 on a $300 loan, I don't think you should lose any sleep on whether or not you owe them yet another $50. (after all, you'll also have to pay the bank to get a cashiers' check!)

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