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Posted: Tue Jun 26, 2007 12:54 pm Subject: MTE financial contacted me via email

MTE has contacted me via email. They are proposing a settlement. However, it is on a $300 loan. I had to go back through and check what the heck loan they were referring to since they go by 17 different pdl names and I have 3 with them! I figured out which one it was. I responded to them. They are proposing a settlement according to my state laws; however, they are coming up with a higher amount because they are counting it as THREE loans. This way they aren't calling it a "rollover" or a "renewal", which are prohibited (actually these internet loans are illegal here - period). So they added on finance charge three times for my $300.00 loan. So it comes up to more than what I came up with. Then I questioned them about which loan this was, as they d/b/a under so many names that I beleived I had two other loans with them and wanted to address them also so that we are on the same page and no misunderstandings are going on. What do you guys think? I did not say I would settle for what they were saying. I did not say I wouldn't. I just clarified how they came up with the finance charge (by calling it 3 different loans) and also questioning them as to the other two pdl names that I have loans with. I do not want to "settle" with one only to have them come at me regarding the other two. I know all 3 are MTE FINANCIAL. I also know the only reason they have FINALLY contacted me is because of my complaints. They dated their "letter" as June 15 and said I had 7 days to respond or they will send it to collections. They just sent it to me today, June 26. I made sure to note that in my first paragraph in my response. I told them I am using TODAY as the first of my 7 days regardless of what date they typed seeing as how it was just sent today, the 26th. Please give me your take on this. I'll accept any advice. They blow my mind.

Posted: Tue Jun 26, 2007 1:19 pm Subject:

hmmm....I haven't a clue. Can you counter offer based on the info you have?? And you have a complaint with the AG don't you??

Posted: Tue Jun 26, 2007 1:19 pm Subject:

Did you actually owe them money Cannr??

Posted: Tue Jun 26, 2007 1:24 pm Subject: MTE

From the way I have it figured - on this one - I owe them $82.50. They are saying $117.50. However, on one other pld - MTE FINANCIAL still - I overpaid by $45.45. That's why I want them to address ALL the loans together. If we can agree upon an amount for all three (since they can't stick to ONE name!)then that's fine with me. But I'm not going to get sucked dry three times with the same friggin company! If MTE FINANCIAL wants to d/b/a with 17 different pdl's, and they want to "settle" with people, they need to combine all the pdl's the person has into one settlement. That was the point I was trying to get across to them. Now why it that JUST NOW coming to me? I could have written that EXACT sentence in my reply! Damn!

Posted: Tue Jun 26, 2007 1:33 pm Subject:

yes I would have sent them a list of all three showing the balances and overpayments and the true total of the three together...can you send another corrected letter or email?? Are you using email? I couldn't find one for them.

Posted: Tue Jun 26, 2007 1:37 pm Subject:

cannr,

Which name or company is this with? I had a few loans with MTE/Rio and I had to handle them all separately.

Posted: Tue Jun 26, 2007 1:50 pm Subject: MTE FINANCIAL

Hi Cannr - may I ask you to post or PM me the letter you sent, you seem to be having great success and we are dealing with some of the same ipdls. I live in NY and apparently my letters are not too effective. Thanks

Posted: Tue Jun 26, 2007 3:27 pm Subject:

Cannr - I would forward the e-mail that you received from MTE to your AG's office with a note regarding when you received it and how the are handling your problem, and make sure that you cc MTE.

Posted: Tue Jun 26, 2007 3:46 pm Subject: MTE FINANCIAL

The 3 pdl's I have that are all actually MTE FINANCIAL are Quickest-Cash-Advance, One Click Cash, and US Fast Cash. The Quickest-Cash-Advance is the owe I'm showing owed (per my state law) is $82.50 or something. One Click Cash was overpaid (per my state law) by $45.45. US Fast Cash was overpaid (per my state law) by $6.64. They had not addressed me regarding the over paid ones. Only the one that still has a balance due. However, if they are counting these all as "new loans", which they are doing to refrain from using "rollovers/renewals", they are adding extra finance charges for each time it "rolled over/renewed". I'm really not in agreement with that. That's why I stated I owe $82.50 and they're saying $177.50. That's a big difference to me. If I pay them another $177.50, I would have paid $447.50 on a $300.00 loan, which by my law states the maximum to be $352.05. But they're trying to go around it by stating they they were "new loans" rather than rollovers/extentions/renewals. Now if they're trying to "get around" stating they were rollovers, they know that they are not permitted. Then they should also know that internet pdl's are not permitted in my state. However, they state that my laws apply for physical locations in my state (no shit) and does not apply to thier internet business model. They go on to say that this is based upon sound advice from their legal department. Why would my state laws not apply towards their internet model (whatever that means)? And I don't know if they're going to address each pdl separately as someone else stated they did with them because this is the first response I've gotten and it's only regarding the one with a balance due, which of course, they "up'd" the price of. They want me to contact them to provide me with the necessary information for repaying the $177.50 that they are willing to settle for. Willing to settle for? I don't understand. They're tacking on extra fees, calling it a new loan each time it renewed, blah, blah. And what do they mean THEY will provide me with the necessary information for repaying? They're going to tell me to mail them $177.50. I'm not stupid. Help me!

Posted: Tue Jun 26, 2007 3:52 pm Subject:

Like I said before - forward this e-mail to your ag's office and cc mte. Your ag's office needs to see how they are ignoring the laws of your state. You have it in writing. And there legal department -PLUEEEZE!

Posted: Tue Jun 26, 2007 4:00 pm Subject: MTE FINANCIAL

Okay. My state AG doesn't have the capability to file on line. I have to print out the form and mail it in. So I guess I'll go ahead and mail it in to them. In the meantime, MTE is going to send me to collections because it's not going to get resolved. I've printed out my email. And I printed out my response. I've gotten nothing back from them (MTE)of course. They'll wait 7 days and email me and say it's turned over to collections. Whatever. It really gets me upset, then it makes me mad. I've filed complaints with all the agencies on each pdl themselves, then one on MTE FINANCIAL regarding their 17 d/b/a's, their 8 addresses, and their illegal tactics. I just don't know what to do in the meantime. I'm about ready to go knock on the AG door and say "What the hell can I do about this?" LOL! Meanwhile, MTE FINANCIAL is claiming "innocence" and saying I had "obvious misunderstandings" about my loan. Huh? I understand they're lending money to residents in a state that they shouldn't be. I understand that they are tacking on extra fees that they shouldn't be. But they're "trying to settle this in an amicable way for good customer service reasons." Hello.

Posted: Tue Jun 26, 2007 4:08 pm Subject:

Just take a deep breath and relax. Get those letters out to the ag's office first thing in the morning and make sure that you e-mail mte and tell them that because they are unwilling to settle for the amount allowed by you state any and all communication that they send to you will now be forwarded immediatley to your ag's office. Also, file a compaint against them with ICE you can find their link on the site for Homeland Security. ICE investigates cyber crimes and make sure that you cc mte. You can do that tonight online.

Posted: Tue Jun 26, 2007 4:13 pm Subject: Complaints

Okay, irish. I'll go ahead and print it all out tonight and put it in the mail in the morning. I'll email MTE FINANCIAL and tell them I do not agree with their amount, as it is over my state law permitted amount. Should I just file it as MTE FINANCIAL, or as Quickest-Cash-Advance? Hell, I've already filed complaints on both! But this email is actually from the compliance department of MTE FINANCIAL.

Posted: Tue Jun 26, 2007 4:14 pm Subject: loan

Cannr, They are not going to get very far in the collection process. If Internet Loans are Illegal there they would be hanging thereselves. They are not that dumb. They will threaten thats all. KYSIDE38

Posted: Tue Jun 26, 2007 4:16 pm Subject: MTE

Oh, by the way. I filed with the BBB on MTE FINANCIAL stating the whole story. I got a response from them today stating that they will not handle it because it's not something they handle. Something about MTE FINANCIAL being a "third party". I filed another complaint stating that MTE FINANCIAL is not a third party. They are the MAIN party of 17 d/b/a's and 8 addresses. What's up with this? I had already filed complaints for each of the pdl's separately, but it kind of rubbed me the wrong way when the BBB responded saying MTE is a third party. What? They're the main office of 17 different companies practicing illegally! Am I wrong here????

Posted: Tue Jun 26, 2007 4:20 pm Subject: MTE

Ahhh,kyside! My friend! So I shouldn't worry about them sending me to collections? Yes, they are illegal here. Because I'm more than happy to file complaints AGAIN with all the agencies to include this wonderful email I recieved and my response to it. I was just thinking that in the meantime, they'll have some dip-wad collector calling me and add on extra fees and so forth. However, I believe you may be correct. I don't care that their "form letter" states I should have read where it said to abide by their laws. Ummm...abide by your own laws and don't lend where it's prohibited. Man........I feel like I'm just going round and round with these people.

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