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 Posted: Mon Dec 18, 2006 2:20 pm Subject: E-Mail I received |
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At first I thought this was a good deal, and was going to settle with them. But, now I am not so sure if I should. I am still trying to figure out if they operate legally in my state.
thank you
| Quote: | Date: 12/13/2006
Dear REBECCA ***:
The purpose of this letter is to offer you a discount to settle your account with TenDollarPaydayLoan.com. No one wants to have unpaid balances affect their credit worthiness so we have tried to make it easy for you to pay your outstanding balance with us.
Your total balance is currently $225.00. We will apply a 25% discount to your account in the amount of $56.25 provided that you respond to this offer within 7 days. This means that you can settle your account with MTE Financial Services dba Rio Resources for only $168.75.
Failure to respond to this generous offer within 7 days will force us to negatively report your account to TELETRAK, our consumer reporting agency. This may affect your check writing privileges for future goods and services, and your account will be reported to our 3rd party collection agency.
To take advantage of this generous offer simply choose one of the 3 following options listed below, complete the information and fax this entire email with the requested documents and information to 866-539-7503. Should you have any questions, please feel free to call one of our customer service representatives at 866-465-5054 or email to recovery(at)invcity.com.
Sincerely,
kelsey
SAVINGS OF: $56.25
OFFER EXPIRATION DATE: 12/20/06
OPTION 1:
Please deduct the total amount due from my checking account on: ____________________
OPTION 2:
I will send the full amount through MoneyGram on: ____________________
OPTION 3:
I would like to pay the full amount due by using my credit card on: ____________________
If you wish to deduct your checking account, you must fax us a copy of your voided personal check to verify account numbers.
To pay by credit card, you must speak with one of our representatives so that we can obtain credit card information from you.
To pay by MoneyGram, you must speak with one of our representatives for sending instructions.
Signature: __________________________________________
Please do NOT respond to this email, instead you can email to: recovery(at)invcity.com |
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Rebecca25
Joined: 17 Dec 2006
Posts: 18
Debtcc Points: 600
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| Posted: Mon Dec 18, 2006 2:22 pm Subject: |
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Where do you live and how much have you paid them? I would only send them payment via money order.
Here is the link to look up your state's pdl laws:
http://www.paydayloaninfo.org/states.cfm
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HUDiva
Joined: 16 Nov 2006
Posts: 90
Debtcc Points: 2058
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| Posted: Mon Dec 18, 2006 2:47 pm Subject: |
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I live in Oklahoma...I have paid them $160.00, my checking account has been negative, and they keep trying to take out different amounts. 4 different times in 1 day.
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Rebecca25
Joined: 17 Dec 2006
Posts: 18
Debtcc Points: 600
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| Posted: Mon Dec 18, 2006 2:52 pm Subject: |
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Rebecca - have you paid the initial principal balance of the loan in full, plus any interest allowed by your state? If so, request to have your file marked paid in full. If you haven't paid at least the principal of the loan in full, plus any allowable interest, you should look into accepting the settlement offer.
Don't let the Teletrack reporting scare you. If you do not intend to take out any payday loans in the future, this should not affect you negatively. To my knowledge, Teletrack only applies to payday lenders - it's a reporting service they use to see if an applicant has defaulted on payday loans in the past. I do not think it has anything to do with check writing priveleges. Someone please correct me if I'm wrong here.
Also, do not pay them by Moneygram - this form of payment is not easily traceable, and if they decide to say you didn't pay them, you have no way to prove you did.
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SUEBEEHONEY70
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Joined: 12 Oct 2006
Posts: 4390
Debtcc Points: 61073
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| Posted: Mon Dec 18, 2006 3:06 pm Subject: |
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| Quote: | | Rebecca - have you paid the initial principal balance of the loan in full, plus any interest allowed by your state? |
I logged on to their website to look, but it says my account can not be accessed, and I do not have any of the information, about this loan in my e-mail anymore (everything was deleted). Should I e-mail them back and request that they give me this information?
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Rebecca25
Joined: 17 Dec 2006
Posts: 18
Debtcc Points: 600
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| Posted: Mon Dec 18, 2006 3:12 pm Subject: |
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Rebecca - you mentioned above that you had paid them $160 before your checking account went into overdraft status. Do you recall how much the loan was for originally? Chances are, it was probably for $200 or $300.
If you can obtain the amount of the principal on the loan, then you will be able to calculate the allowable interest by using the link to OK's state PDL law, posted by HUDiva above. (Thanks, HUDiva!) Once you've gotten to that point, you can make a reasonable settlement offer with this company. If it turns out that what they are offering to settle for is less than what you owe based on your calculations, settle with them and be done with it. You will definitely feel better about it!
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A journey of a thousand miles begins with a single step...and becoming debt free is a journey!
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SUEBEEHONEY70
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Joined: 12 Oct 2006
Posts: 4390
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| Posted: Mon Dec 18, 2006 3:17 pm Subject: |
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it was for $200..thank you for the help!
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Rebecca25
Joined: 17 Dec 2006
Posts: 18
Debtcc Points: 600
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| Posted: Mon Dec 18, 2006 3:19 pm Subject: |
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You're welcome Sue  Rebecca- Good luck though because there are alot of posts with this company in the forum...do a search for Rio Resources and MTE Financial and you can see what others have been dealing with. I have a loan with them and they are not nice to deal with at all.
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HUDiva
Joined: 16 Nov 2006
Posts: 90
Debtcc Points: 2058
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| Posted: Mon Dec 18, 2006 3:21 pm Subject: |
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Thanks for the tip, HUDiva...I really hope Rebecca is successful in dealing with them.
_________________
A journey of a thousand miles begins with a single step...and becoming debt free is a journey!
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SUEBEEHONEY70
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Joined: 12 Oct 2006
Posts: 4390
Debtcc Points: 61073
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| Posted: Mon Dec 18, 2006 3:25 pm Subject: |
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Thanks HUDiva, I have learned alot from this site. I was almost tempted to settle with them and get them out of my hair, but now I feel like I should investigate this some more and find out what I am legally obliagated to pay. I DO NOT want to send them more money than they deserve to have. I have no problems paying these loans off, if they are legal in OK of course.
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Rebecca25
Joined: 17 Dec 2006
Posts: 18
Debtcc Points: 600
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| Posted: Wed Dec 20, 2006 4:50 pm Subject: loan |
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I have ID theft so my bank has my account frozen.I owe a $200.00 payday loan.I got an e-mail from MTE to respond by email to set up a payment plan.I work nights.I cannot find anything on the site that offers this option.My bank is in Ma. my address is in Ct.My account is going to be changed because of theft.What should I do?
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THERESA MIKUSZEWSKI
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Debtcc Points: 100
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| Posted: Thu Jan 04, 2007 6:19 pm Subject: pay off these two pay day loans i have |
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make some kind of payment plan one was $ 65.00 and the other one about $300.00, the amount keeps changing,can you help ,my phone phone number deleted for your protection - SueBee
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jane hill
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Debtcc Points: 100
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| Posted: Mon Feb 26, 2007 4:05 am Subject: Debt recovery |
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I just buried my grandmother and that is why the bank continues to return your request for money. As soon as I get my income tax refune I will repay you. This should only take about another week. If you need to contact me, to make a payment arrangement, please call me at 313-333-****.
Phone number removed for your safety - Mike
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Michelle Ellis
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Debtcc Points: 100
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| Posted: Wed Mar 28, 2007 1:43 pm Subject: repayment of loan |
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An error has occurred on the 23 of March with my account.
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Lauren F. Smith
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Debtcc Points: 100
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| Posted: Wed Mar 28, 2007 4:17 pm Subject: |
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Lauren - you have not reached a lender's website. We are a community dedicated to offering advice to those with debt/credit issues.
What company were you trying to reach? We may be able to offer you the contact info.
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A journey of a thousand miles begins with a single step...and becoming debt free is a journey!
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SUEBEEHONEY70
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| Posted: Tue Apr 17, 2007 10:56 pm Subject: Who are they |
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Hello i live in ca. and i have noidea who these people are and i can't reach them on the phone what can i do other than put a block on my account?
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William Brown
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