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Cashnet500 is one of the PDL's that Im dealing with. The origional loan was for $250.00. I have paid a total of $375.00. On Sept. 4th and again on the 17th I faxed them letters revoking my authority for them to debit my account and not to try and contact my husbands work phone number. We closed our bank account on Aug.28th with Bank of America but were told that the account would not be officially closed until it went 7 days with no activity. We have not been charged with any further nsf charges from the bank but we found out yesterday from a woman who called from Cashnet500 that they are still trying to debit our account even though they have recevied two letters from us. She also told us that they could file fraud charges against me because I was the one that got on the computer and used my husbands info for the loan. She said I violated some Internet Law. I laughed at that one. I told her I was filing a complaint with the Attorney General, she just blew that off. She just kept saying that for $150.00 we could settle the account. I don't feel like we should give in and pay it. Any advice????

Posted: Sat Oct 14, 2006 11:57 am Subject:

Is the loan not paid yet? I think you should call Cashnet500 and refer them your state laws. You must get the PIF in writing to avoid further charges. I wonder why they are trying to debit money from your account now.

Posted: Sat Oct 14, 2006 12:48 pm Subject:

I did give them my state laws. They said they don't have to abide by them because they are in Utah and they can charge me what ever they want. We were making payments on the origional loan, which the amount was $250.00. When we got into trouble with all the PDl's we had to close our account. All total we have paid them $375.00.

Posted: Sat Oct 14, 2006 1:24 pm Subject:

In most situations, the internet lender must follow the state laws where the borrower resides, however there can be a few exceptional cases. Right now, I will assume that CashNet500 is required to follow your state laws because they are discussed in other threads here about the need to be licensed in the borrower's state. Which state do you live in?

Posted: Sat Oct 14, 2006 2:09 pm Subject:

I would continue to stand your ground. Continue to send them the letter with your state laws and file a complaint with your state's AG office and let them know you did this. If you have to e-mail and fax the letter everyday to them, then do it. Just stand your ground because it looks like you have paid the principal, legal interest charges, and then some.

Posted: Sat Oct 14, 2006 2:48 pm Subject:

Ok someone good with math, money, and alabama pdl's I need some assitance. Here are the pdl's I had. Can someone help me figure out how much I owe them?

UsFast Cash:
Borrowed: $300.00 Have paid: $410.00
I don't know if they are liscensed in my state.
They agreed to settle with me for $125.00

Payday Ok:
Borrowed: $397.29 Have paid: $233.86
I think they are liscensed in my state.

FSM Processing:
Borrowed: $300.00 Have paid: $540.00
Not liscensed in my state.

Cash Central:
Borrowed: $352.50 Have paid: $52.50
not sure if they are liscensed in my state

Posted: Sat Oct 14, 2006 2:49 pm Subject:

You have overpaid UFast Cash and FSM Processing, you should demand your accounts with them be marked paid in full. I will check out the other two and what should be owed on the principal.

Posted: Sat Oct 14, 2006 2:55 pm Subject:

http://www.paydayloaninfo.org/state_detail.cfm?id=AL
That is a link to your state's pdl law, and it gives regulator contact info. As far as I can tell your state allows $17.50/$100 with 1 roll over permitted. So it looks like you would still owe Payday OK: $198.43 and Cash Central $335.00

Posted: Sat Oct 14, 2006 2:57 pm Subject:

So what should I do with USFast Cash settlement offer. They sent me a letter saying they will settle for $125.00 as long as I pay it by Oct 20th. I never sent them a validation letter or anything because they responded so quickly to phone message. Do you know if they are liscensed in Alabama?

Posted: Sat Oct 14, 2006 3:01 pm Subject:

Try this link to find if they are licensed: http://www.bank.state.al.us/ADPSA_Licenses2.asp
I did a search and didn't find them listed as having a license. I personally, would fight with them and continue to deman they mark me paid in full. But that is a decision only you can make, $125 to make them go away, doesn't sound like much, but I know that sometimes $125 might as well be a million dollars.

Posted: Sat Oct 14, 2006 3:05 pm Subject:

Right now $125.00 is alot. What happens if they send it to collections?

Posted: Sat Oct 14, 2006 8:09 pm Subject:

I know what that feels like, I have been there before.I would continue sending your settlement letters with the state laws in them and if you filed a complaint with the AG I would include that along with the complaint number so they can verify if they so choose. keep bombarding them with the letters. And if it goes to a CA then I would bombard them as well and send D&V and a cease and desist letter to them. If you dont have the money, you don't have the money. If they gave you an address and you are worried about a CA contacting you then send small payments each month until it is paid off. But I would continue to fight them if you have paid too much.

Posted: Sun Oct 15, 2006 6:20 am Subject:

Now Cashnet500 is trying to say that it is a bounced check and that they can file charges on us for check fraud. I am not giving into them, either way they want to look at it I still paid more than what the loan was worth. Has anyone ever been able to get them to mark your account paid in full??

Posted: Sun Oct 15, 2006 6:34 am Subject:

They are one of the harder companies to deal with, read more about them in the forums. Have you sent the letter to them via certified mail?

Posted: Sun Oct 15, 2006 6:36 am Subject:

Ive sent letters every way I could, fax , email, and certified. They have acknowledged receiving the emails and the faxes. But they still say I font have a leg to stand on.

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