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Posted: Tue Nov 07, 2006 4:16 pm Subject: Reply to Cashnet500

This morning I recieved an email from USACashExpress telling me there was a problem with my checking account and I needed to call them asap. Having no idea who these people were I replied back saying I'm no falling for this. Here was their reply:

> We are CashNet500 and you took out a loan on 8-24-06 for $350 and this money
> was deposited into you bank account on 8-24-06. Do you not recall this?
>
> I am in the position to offer you a loan payoff on your account.
>
> As of today, your total CashNet account balance is $590, payment
> arrangements are for three(3) payments $200 due on 11-17, 12-1 and $190 due
> on 12-15.
>
> Payment method is Visa or MasterCard Debit/Credit ($5.00 processing fee).
>
> Confirmation Instructions
> * To take advantage of this offer it is very important that you
> confirm this loan payoff today.
> * To do this all you need to do is call or email me today with your
> card#, expiration date and three (3) digit code.
>
> This is a loan payoff, meaning once you confirm this payoff by providing
> your card information, your account will then be removed from the
> collections process, your balance will be frozen and no further charges will
> be assessed on the loan balance as long as you follow through with the
> agreed arrangement.
>
> Regards,
>
>
> Karen Lamb
> Advanced Collections Department
> 1-800-654-7444
> x846

How sweet! They are offering to let me pay $990 total for a $350 loan.

So I need some opinions . . . . . Does this reply sound good? Should I tone it down? Change anything? Thanks!

Posted: Tue Nov 07, 2006 4:18 pm Subject:

Good job! Don't back down no matter what! Very Happy

Posted: Tue Nov 07, 2006 4:19 pm Subject:

And don't give them your new banking info, and don't send the $35 Western Union, demand a physical address to send a money order or they won't get their $35.

Posted: Tue Nov 07, 2006 4:20 pm Subject:

I won't give them anything but a postal money order, if that.

Posted: Tue Nov 07, 2006 4:24 pm Subject:

BTW - Their offer of $590 to settle, I've only missed one payment with them, so a balance of $350, the $105 finance fee, I guess they figure in another $105, and I guess a $30 returned ach fee?? How is that a settlement? That's more then I technically owe them according to their stupid contract!

Posted: Tue Nov 07, 2006 4:35 pm Subject:

Put your dispute in writing with the company. They have to check your file and figure out the accurate balance. Have you checked with your state laws if they have calculated the total amount in the right way? If you are able to bring down the total amount by placing a dispute, you will be able to negotiate for a lower amount from what it is at present.

Posted: Tue Nov 07, 2006 4:39 pm Subject:

yes, unfortunatly oregon doesn't have any interest limits, their new law capping these guys doesn't go into affect until June 2007. I'm thinking they are assuming I wouldn't pay until my next payday, at which time the full $105 in finance fees would be due. The thing that bugs me is that I've already told them I'm filing bk!

Posted: Tue Nov 07, 2006 6:41 pm Subject: payday loans

Way to go dont back down. I think it is very well-written and straight to the point. Good Luck Keep us Posted KYSIDE38

Posted: Tue Nov 07, 2006 9:10 pm Subject:

I hope I'm not too late...I would omit the part about your surgery and the bankruptcy (for one, it's none of their business). If they think you are making exuses, their collection tactics may become more agressive and they could cause a bad situation for you at your place of employment. They are not the most professional collectors out there.

Posted: Wed Nov 08, 2006 7:58 am Subject:

Your not too late . . . . I wanted to get people's opinions before I sent it. I just put in about my surgery so maybe they would see that I'm not doing this just to screw them, I have no choice. But I will take it out, thinking about it, I don't want them to know my personal business. But the part about my BK I'm keeping in, as I've already informed them and given them my lawyers info. Oddly enough, it was right after I told them I had a lawyer that they told me I was going to be arrested for fraud!

Guest · Posted: Wed Nov 08, 2006 9:16 am Subject:

Have your lawyer fax them a letter of representation. She will go away. This is the email I got from Karen Lamb:

Posted: Wed Nov 08, 2006 9:24 am Subject:

If you have an attorney, have them fax her a retainer letter or letter of representaion, and she will go away. :This is what I received from Karen Lamb:

Posted: Wed Nov 08, 2006 10:47 am Subject:

So they just called me again . . . . Luckily (well, nt luckily, very unluckily) I have a crazy obsessed person stalking me. He just got out of jail (on stalking charges, due to me) last week. So everyone at my work knows to say that I'm no longer an employee, in an effort to not have to find another job. So when Cashnet500 called this morning they were told I no longer work here. So they called me. The first thing he says, very nicely, is I hear you don't have a job anymore, we'd like to offer you a settlement. This is the exact same guy I talked to on Monday that said I'd be charged with fraud. When I mentioned I had just talked to him the other day, he said, and I quote "Wow, I must've been smoking crack, I don't remember that.'!!! I then told him that he told me I would be charged with fraud and I was hiring a lawyer, and he quickly said, have your lawyer contact us, and hung up the phone!