Anyone fought My Cash Now or Fast & Reliable?

Sorry if this seems to be a repeat post on my situation, but wanted to ask this specific questions.

Has anyone here put ACH block on their checking account after finding out either is not licensed in their state, and therefore only entitled to the principle amount borrowed? How did they react? Did they send wage garnishment to employer? Did they start hounding you down by calling your references?

I'm trying to prepare myself for the worst becasue today I will be confirming the the IL Dept. of Finances & Regulations if they licensed in IL. If they are not I'm putting an ACH block on my checking account and intend to follow the advise here under "Dealing with Unlicensed Payday Lenders"

Follow what it says. Close your account. They cant garnish anything. Send out those letters as instructed. Things will get better.

Thanks.

I'll keep everyone posted on what happens. Maybe it will help someone know what to do & what to expect if they are in the same situation.

Actually I just went to my bank and had everything blocked and opened up another account. When I sent the letter to PDL Loan (AKA High Country) I got the following email within an hour of sending the fax....
Ms. Williams,

We are sorry to hear you have not been satisfied with your experience
with Spot On Loans. We have reviewed your account with us and we are
willing to settle on your account. We will settle with one final payment of
$455.00.
This payment will need to be made via money order and sent to the
address below. We will allow 30 days for receipt of this payment.
However, if we do not receive payment on or before 08/30/2010 the
collection process will continue on your loan and you will no longer
be eligible for a settlement.

Spot On Loans
P.O. Box 140
Box Elder, MT 59521

--
Thank you,

Account Services

Spot on Loans, formerly PDL Ventures
1-800-707-0102 ext. 1850
Monday-Friday, 7-3pm (MST)
Accountservices@spotonloans.com

*You must notify this office within 30 days after receiving the first
notice if you dispute the validity of the debt or any portion thereof or
the office will assume the debt is valid. This communication is from a debt
collector. This is an attempt to collect a debt. Any information obtained
will be used for that purpose.*


As you can see, they go by about 10 different names, and I listed all of them on my letter so they couldn't come back into my account under another name. I am so thankful for this forum, and feel like I am getting back in control. I am still awaiting an answer form USFastCash (MyCashNow), and OneClickCash, both operated by the same company.

At least you have received a reply, however, I do hope you won't settle for their terms unless it was what you were willing to accept to begin with.

No I am not giving them one cent more, so I am truly wondering what they mean when they say they will continue the collection process. The other thing I noticed is they are saying Money order and made no mention of ever coming through my bank again.

Also while I did not get any email, or call from USFastCash or OneClickCash, I tried to enter my account online, and it has been blocked... So I do know that they have recieved my letter. What usually happens now

Wow. I cannot believe it was as simple as this...... Wow! Don't want to get too wordy, but want to explain how things proceeded as it may help some people here.

I borrowed $500 from F&R. I paid them $725 so far over a period of 2 1/2 months, then lost a significant amount of monthly income which made it impossible to pay back any interest at all. According to IL law (where I live) a customer is entitled to an interest free repayment plan after the loan is in place after 35 days. I email the support email address to request such a repayment plan.

Not surprisingly they say IL laws do not apply, DE laws do as that's their location so the loan originated there. They say they do understand though and offer a repayment plan that does not include any extra fees - however, their payment plan calls for over $700 more in payments spread over time, so there are extra fees worked in.

Now I'm irritated that they are not following IL laws, so I do all my homework (I know - should have done it in the 1st place). I confirm here on this website that they are required to be licensed in IL to offer me a loan - this was my 1st internet payday loan. I call the IL Dept. of Financial Regulation to confirm they are not licensed - they are not.

Next I email them to state that I've confirmed that IL laws apply and ask if they are licensed in IL. They admit they have no IL licnsed and politely insist again that DE laws apply.

After sending my response (below) I got an email stating "Great news! I got the approval to close this loan - no more debit transactions will occur".


"I see on your website that there are certain states that you do not lend to. I'm going to assume this is due to their strict state laws. If you abide by those state laws why are you not abiding by IL state laws?

Please forward this to your legal/complaince/licensing department.

I do not agree to the repayment plan terms and am revoking authorization to debit my account for any payments. This was an illegal loan to begin with and I am owed a refund of $225 from your business for interest payments you were never legally entitled to collect from me. There is now an ACH/EFT block on my account to prevent you from unauthorized debits.

Your company has violated several IL payday loan lender laws. If you pursue this loan as a legally binding contract any action you take against me will be a Fair Debt Collection Practices Act (FDCPA) violation. I know what my rights are under the FDCPA, and I know that as an unlicensed IL payday lender this loan is illegal, invalid and unenforceable by any state. Therefore, the only amount I was obligated to pay your company was the amount borrowed: $500."


I really thought I was up for a fight - but it worked! I requested a paid in full receipt, which I'm told is on it's way. I'd have never known what to do if it were not for this helpful website.

My only questions now is......do I insist on a refund of $225 or let it go??

Did you hear back from them regarding a refund? I am also fighting them regarding a refund in IN.

After I sent the email/letter to them yesterday regarding them operating illegally, my account status changed today from my next rollover payment to "Collections" and stated my total balance due. But, I have not received a response from them.

Although I revoked my ACH Auth from them, and had my bank put a block on them, I'm still afraid they will get it thru the system.

Please let me know how this all worked out for you and how quickly you received an email response from them.

Thanks!

I borrowed $500 from F&R. I paid them $725 so far over Therefore, the only amount I was obligated to pay your company was the amount borrowed: $500."


I really thought I was up for a fight - but it worked! I requested a paid in full receipt, which I'm told is on it's way. I'd have never known what to do if it were not for this helpful website.

My only questions now is......do I insist on a refund of $225 or let it go??[/QUOTE]

You should insist on the refund. In my ACH withdrawal letter, I requested refund and received one within 4 days. They sent me a letter to sign and a check.

UPDATE: Thanks to my persistance and not giving up - - I GOT THE REFUND!

I received a response from F&R two days after my first email. They are refunding the fees I paid (anything above and beyond my principal balance). Success!!

I also would have never known they were illegal if it weren't for this website!

SRPark,
Are you dealing with My Cash Now or US fast Cash??? I think they are different companies...if Im wrong someone let me know thanks!