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Posted: Thu Jun 21, 2007 4:53 pm Subject: zipcash what do i do

I sent the template from pollys blog, informing them of how much i have paid and mark paid in full and this is what was sent to me.
We are responding to your communications with Zipcash – SFT, LLC
(“Zipcash”)

regarding your loan, which has a current balance of $390.00. We
consider

this to be a valid debt. Zipcash takes its obligations to comply with
all

applicable laws very seriously and expends significant resources to
ensure
this.

Zipcash makes short term consumer loans pursuant to licensure and
regulation

by the State of New Mexico. Zipcash does not maintain a business
location
in

Alabama.

Zipcash does NOT SOLICIT customers in Alabama. On advice of counsel,

Zipcash maintains that the choice of New Mexico law as controlling in
the

loan documents would be upheld, as all significant contacts in the loan

transaction occur within New Mexico.

Despite our position stated above, in the interest of resolving this
matter

without escalation and further expense, we are willing to consider your
account

paid once you have complied with the terms of the settlement offer
below.

Settlement Offer

Zipcash is making a one time limited offer to release you from the

outstanding balance of your loan ($390) as well as any uncollected fees

owed. Zipcash will do so only upon receipt of the enclosed signed

Confidential Mutual Release Agreement. Please fax the signed release

to our Customer Service Department at (866)922-7401.

******PLEASE SEND US THE SIGNED RELEASE NO LATER THAN JUNE 28, 2007.
IF WE
HAVE NOT RECEIVED THE SIGNED RELEASE BY JUNE 28, 2007, THIS SETTLEMENT
OFFER
WILL BE AUTOMATICALLY REVOKED AND WE WILL CONTINUE TO HANDLE YOUR
ACCOUNT
PURSUANT TO YOUR LOAN AGREEMENT.******

PLEASE KEEP IN MIND THAT THE EXISTENCE AND TERMS OF THIS SETTLEMENT
OFFER AS
WELL AS THE ENCLOSED CONFIDENTIAL MUTUAL RELEASE AGREEMENT
("AGREEMENT") ARE
TO BE KEPT IN THE STRICTNESS OF CONFIDENCE AND YOU MUST NOT DISCLOSE
THE
EXISTENCE OR ANY OF THE TERMS OF THIS SETTLEMENT OFFER OR THE AGREEMENT
TO
ANY THIRD PARTY OTHER THAN TO YOUR PERSONAL ATTORNEYS OR ACCOUNTANTS.
FURTHER UNDERSTAND THAT THE AGREEMENT PROVIDES THAT, IN THE EVENT OF
ANY
DISCLOSURE INCONSISTENT WITH THE TERMS OF THE AGREEMENT, ZIPCASH WILL
BE
ENTITLED TO RECEIVE FROM YOU AT LEAST $10,000 IN LIQUIDATED DAMAGES.

Sincerely,

Zipcash - SFT, LLC

Posted: Thu Jun 21, 2007 5:10 pm Subject:

First of all they are telling you that if you sign that you will not have to pay them anything as long as you don't show anybody or tell anybody about the agreement. But you just did. I would have signed it.

Posted: Thu Jun 21, 2007 5:35 pm Subject:

LOL...who would sign this? Basically, if you keep your mouth shut they will make it go away??? WTF ever....I would tell everyone and not sign it!

Posted: Thu Jun 21, 2007 5:40 pm Subject:

I never dealt with zip cash so I don't know how they are. But me(just something I would do), I would sign it , make a copy for my records so I would have proof if they tried to come back after more money.

Posted: Thu Jun 21, 2007 5:45 pm Subject: loan

I have got several o0f these in my settlements. It wont stand up anywhere. You have the first amendment rights. I guess they are just trying to cover their butts. LOL KYSIDE38

tweety1705 · Posted: Thu Jun 21, 2007 6:07 pm Subject: zipcash

I'm sorry, but this is my first time doing this and i did not understand it.....should i sign it or not?

tweety1705 · Posted: Thu Jun 21, 2007 6:22 pm Subject:

Is there anyway that i can remove it?

Posted: Thu Jun 21, 2007 7:36 pm Subject: Zip Cash

First of all, Leah, you crack me up! You go, girl! But seriously, are they stating that they will not make you pay ANY of your loan? That they will "release" you of the contract? Email them and ask them to explain it to you because you're still confused. They should email you back and explain that you will owe zero, you owe only what you've paid, you owe only what's required by your state, whatever...... But don't worry. So you posted it. They're not going to make you pay them $10,000! I've gotten one letter exactly like this one from one of my pdl's. Not the same one as you - however - same exact letter. I emailed them and told them to explain exactly what they were saying & email it to me so that I would have documentation. They complied. I signed the stupid thing and faxed it. Whatever. It got them off my butt. And they couldn't get $10,000 from me if I posted it on a billboard! LOL!

Posted: Thu Jul 19, 2007 4:17 pm Subject: gag clauses

point of order, gag clauses (the non-disclosure atatement) are perfectly legal and essentially what they are asking you to agree to is they close the account, you not disclose the agreement. This is common is lawsuit settlements and was obviously crafted be a competent attorney. I would suggest that anyone offered such a deal take it and honor the agreement.