From the attached email CheckNGo and/Bank of Delaware must be feeling some heat! - Lanita
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Dear Valued Customer,
We would like to thank you for choosing Check ‘n Go Online to service your short-term cash needs. We appreciate your past business and look forward to helping you in the future. As a valued customer, we would like to keep you informed on any and all business changes that may benefit you. This letter is drafted to detail such changes and assist you with any questions.
Effective July 6, 2006, First Bank of Delaware will no longer underwrite payday loans for Check ‘n Go Online. Going forward, payday advances approved and funded through Check ‘n Go Online will reflect the same rates as our storefronts. Dependent on the state in which you live, you may realize a rate reduction of up to 40% over the current rates with the First Bank of Delaware (rate reductions vary by state).
Act now and take advantage of reduced rates!
How can I take advantage?
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If your checking account is running low this week, don't forget that we can help. To take advantage of the benefits mentioned above, simply go to checkngo.com after July 5, 2006 and apply for a new advance.
**Be sure to apply as a new customer to register your email address and password. As of 7/6/06 all customer information will need to be reestablished on the website.
Thank you for your continued support,
John Weiss
Director of Online Operations
Check 'n Go
800-53-MONEY
They are probably being run out of town. Have to shut down the store fronts an move to the intranet net, where there is little or no regulation. But it won't be long until the online companies are run out of business..
Check N Go has a big sign on their window advertising 'NEW LOWER RATES!' They hung it up when the new laws went into effect here on June 1. The were forced to charge something somewhat reasonable, so they decided to advertise it as if they are the good guys!
By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.