Another One Writes Off My Balance!!!
Date: Tue, 08/08/2006 - 08:58
M
---------------------
Quote:
Dear Valued Customer: ####### Account # ***** Our department has received your recent messages and we have reviewed your account. The terms and conditions are available from the website at the time of submission, and there is a 48-hour window in which to withdraw your application without incurring any fee. In addition before each debit an account summary is made available to you, which also summarizes the terms, and all the options for repayment. Although we believe all the terms and conditions have been met, we will aid you by writing off the balance on your account, this is due to the initial deposit amount having already been fulfilled. >>>>>THIS OFFER IS CONTINGENT ON THE FACT THAT NO OTHER DEBITS PREVIOUSLY PAID ON YOUR ACCOUNT ARE RETURNED BY YOUR BANK<<<<< Your account with us is now closed permanently and you will be not qualified to do any future business with our company, or any of our affiliates. We will consider this matter closed and no further action will be required. 500FastCash Compliance Department Fax: 1-800-803-9310 Email: compliancedepartment@ 500fastcash.com -- |
That is AWESOME!! Exactly what letters are you sending to the P
That is AWESOME!! Exactly what letters are you sending to the PDL companies? Thank You.
Ms. G. I'll pm you. Please bear in mind that you must tail
Ms. G. I'll pm you.
Please bear in mind that you must tailor these letters to your exact personal situation, i.e, State Law, interest rap cap, bank info., finance charges, etc. Also, I used the simple interest formula to calculate the interest exceeded.
M
another one writes off my balance
Ok- aside from the state law, interest rap cap, etc
(were do you get that info) can you give us an example of your letters? I am sure it will be very helpful to myself and others!
This is a lot to paste. As far as the State Law info. - there
This is a lot to paste.
As far as the State Law info. - there is a place on the Forum just for that, "State Law Citations". The interest rate cap info. should be included. You can also go to Polly's Blog (she's a genius) http://pollyandsay.yesdebtfree.org/
Also check your Attorney General's site for any Summary Judgements that have been entered into regarding payday lending & loans.
--------------------------------
Sent via email customerservice@ 500fastcash.com and facsimile 1.800.416.1619
[quote]
August 2, 2006
500FastCash
2533 N. Carson St.
Carson City, NV 89706
Re: Account No. ***** for Your Name Here, SSN# ***-**-****
Dear Sirs:
Effective immediately, I hereby revoke authorization to 500FASTCASH, or any representative, parent company, affiliate, or subsidiary of 500FASTCASH, to withdraw any funds electronically from my checking account ending in *#### at Your Bank Here. The account has been closed to all further activity, so any attempts to debit this account will be returned ???ACCOUNT CLOSED???.
I have become aware that since such time as I have been affiliated with your company, I have paid disproportionate amounts of interest over the course of such affiliation. Upon research of New Jersey State law, I have discovered that 500FASTCASH is not legally authorized to lend to residents of New Jersey. Therefore, 500FASTCASH is in violation of New Jersey usury, interest rate cap, and licensing requirements, i.e., The New Jersey Code of Criminal Justice 2C:21-19: Wrongful credit practices and related offenses, and Title 17 Corporations and Institutions For Finance and Insurance 17:9A-428. For your information, please reference http://www.njleg.state.nj.us/.
2C:21-19 Wrongful credit practices and related offenses.
a. Criminal usury. A person is guilty of criminal usury when not being authorized or permitted by law to do so, he:
(1) Loans or agrees to loan, directly or indirectly, any money or other property at a rate exceeding the maximum rate permitted by law; or
(2) Takes, agrees to take, or receives any money or other property as interest on the loan or on the forbearance of any money or other interest in excess of the maximum rate permitted by law.
For the purposes of this section and notwithstanding any law of this State which permits as a maximum interest rate a rate or rates agreed to by the parties of the transaction, any loan or forbearance with an interest rate which exceeds 30% per annum shall not be a rate authorized or permitted by law, except if the loan or forbearance is made to a corporation, limited liability company or limited liability partnership any rate not in excess of 50% per annum shall be a rate authorized or permitted by law.
Criminal usury is a crime of the second degree if the rate of interest on any loan made to any person exceeds 50% per annum or the equivalent rate for a longer or shorter period. It is a crime of the third degree if the interest rate on any loan made to any person except a corporation, limited liability company or limited liability partnership does not exceed 50% per annum but the amount of the loan or forbearance exceeds $1,000.00. Otherwise, making a loan to any person in violation of subsections a.(1) and a.(2) of this section is a disorderly persons offense.
b. Business of criminal usury. Any person who knowingly engages in the business of making loans or forbearances in violation of subsection a. of this section is guilty of a crime of the second degree and, notwithstanding the provisions of N.J.S. 2C:43-3, shall be subject to a fine of not more than $250,000.00 and any other appropriate disposition authorized by N.J.S. 2C:43-2b.
c. Possession of usurious loan records. A person is guilty of a crime of the third degree when, with knowledge of the nature thereof, he possesses any writing, paper instrument or article used to record criminally usurious transactions prohibited by subsection a. of this section.
Amended 1979, c.178, s.42; 1981, c.104, s.1; 1981, c.290, s.25; 1986, c.184, s.6; 1997, c.426, s.2.
17:1-27 Prohibited actions.
3. No bank, savings bank, State association, or any officer, director, employee, or major shareholder thereof, shall:
a. Fail to comply with an order or other written instruction of the commissioner or any other financial regulatory agency;
b. Violate a State or federal law;
c. Take any action, or fail to take an action, with the result that a material interest of the covered institution is adversely affected;
d. Be convicted of a crime that would permit adverse action by a governmental agency pursuant to P.L.1968, c.282 (C. 2A:168A-1 et seq.);
e. Provide incorrect, misleading, incomplete or untrue material information about the covered institution to the commissioner or any federal financial regulatory agency;
f. Withhold material information from the commissioner or any federal financial regulatory authority about the covered institution; or
g. Take an action, or fail to take an action, the result of which poses a substantial risk to the safety and soundness of the covered institution or may cause substantial damage to its reputation. L.2005,c.195,s.3.
17:1-28 Enforcement of, penalties for violations under C.17:1-27.
4.a. In addition to any other penalty provided by law, if the commissioner determines that a bank, savings bank, State association, or any officer, director, employee or major shareholder thereof, has violated a provision of section 3 of this act, the commissioner may impose any one or more of the following penalties and sanctions as he deems appropriate. The commissioner may:
(1) Impose a civil penalty of up to $10,000 for each violation, or up to $50,000 for each willful violation;
(2) Suspend, revoke or refuse to renew a license issued by the department;
(3) Temporarily remove a person responsible for a violation of this act from working in that person's present capacity or in any capacity related to activities regulated by the department;
(4) Prohibit or bar a person responsible for a violation of this act from working in that person's present capacity or in any capacity related to activities regulated by the department;
(5) Order a person to cease and desist any violation of this act;
(6) Order a person to make restitution for actual damages;
(7) Enter an appropriate temporary order, to be effective immediately and until entry of a final order, pending completion of an investigation or any formal proceeding instituted pursuant to this act, if the commissioner finds that the interests of the public require immediate action to prevent undue harm to the covered institution, depositors or the public. Orders issued pursuant to this paragraph shall be subject to an application to vacate upon two days' notice, and a preliminary hearing on the temporary order shall be held, in any event, within five days after it is issued, in accordance with the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.); and impose other sanctions or conditions as the commissioner deems appropriate.
500FASTCASH's obvious claim that the contract I signed is solely governed by the laws of Nevada, the state within which your company is physically located, is unsupported. There is specific case law which negates this claim. 500FASTCASH consciously solicited, accepted, and transacted business with a citizen of the State of New Jersey and you are therefore subject to the laws of New Jersey ??? including usury, interest rate caps, and licensing requirements. Since 500FASTCASH is not licensed to lend monies in New Jersey any contract I entered into with your company is unenforceable and automatically void as a matter of law. To that effect, I draw your attention to New Jersey State Rule N.J.A.C. 3:4-4, which completely refutes that claim (http://www.state.nj.us/dobi/proposed/pn04_372.pdf) which was adopted October 17, 2005 (http://www.state.nj.us/dobi/proposed/ad050919bnk.pdf) Excerpts are provided below:
The general law in New Jersey, set forth at N.J.S.A. 17:9A-316, is that foreign banks may not transact business in New Jersey. Under the law, a foreign bank is a bank that is not chartered by the State of New Jersey or which has not properly established an office in New Jersey.
Regarding the comments about payday lending, refund anticipation lending or title lending, the Department has concluded these types of loans violate criminal usury, civil usury and the consumer loan provisions of the Licensed Lenders Act (emphasis added). The purpose of the proposal is to clarify that, with regard to agents of foreign banks, the agent clause in N.J.S.A. 316E may not be used to circumvent New Jersey law.
In reference to my current and past loans with your company, I am formally requesting substantiation of all interest and principal payments made by me to your company. Please also send me a copy of what is presently owed to your company at my home address above via U.S. Postal Service within the next 10 days. According to my records, I received a loan with a principal of $400.00 on April 21, 2006 and have paid total renewal finance charges in the amount of $705.00 and $100.00 in payments towards the principal through bi-weekly ACH Debits of $120.00 for 5 pay periods and $105.00 for 1 pay period, i.e., 3 months. The amount of interest you have charged me is well in excess of twenty-three (23) times New Jersey State mandated interest rate cap for short-term loans [ (et seq.) any loan or forbearance with an interest rate which exceeds 30% per annum shall not be a rate authorized or permitted by law (The New Jersey Code of Criminal Justice 2C:21-1)]. According to New Jersey State law, the remedy for such usurious conduct is the refund of the principal amount on which such interest is charged, as well as all interest charged (excerpt above). Therefore, it appears that your company may actually owe me a refund with regards to this matter.
In view of the information detailed above, I am willing to settle this matter with you and not seek such refund as I am entitled to by law. I expect 500FASTCASH to immediately mark my account PAID IN FULL. Further, at no time will 500FASTCASH, its representative, parent company, subsidiary, or affiliate, place any derogatory mark on my credit report with any credit bureau, nor with any check writing database such as Teletrack or equivalent database.
In the event you decide to effect one, I hereby revoke any wage assignment you may attempt to implement on this account. To reiterate, please accept this as formal revocation of any authorization for you to make any debits from this date forward. The checking account of record, ending in *####, has been closed due to too frequent overdrafts through my Bank and as a result any attempt to debit this account will be returned to you as ???ACCOUNT CLOSED???.
Please also be advised that I am in the process of working with a debt consolidation company to settle any amounts due and payable to you. Therefore, any questions you may have should be addressed to them directly at:
Town and Country Acceptance Corporation
P.O. Box 660500
Birmingham, AL 35266
Phone: 205-823-4930
Effective immediately, please do not contact me via telephone or facsimile at home, at my place of employment, or at any other phone number of record, as any telephonic communication with me must be made through my debt consolidation company, Town and Country Acceptance Corp. Otherwise, any written communication may be sent to me at the above mentioned address via U.S. Postal Service, or via email at the email address of record.
I look forward to an amicable resolution of this matter.
Sincerely,
Your Name Here
S.S.# ***-**-****[/quote]
another one writes of my balance
I get confused when it comes to you quoting the state laws, code numbers etc. Is state law citations were you can find all this info?
You can also go to Polly's Blog (she's a genius) http://pollyand
You can also go to Polly's Blog (she's a genius) http://pollyandsay.yesdebtfree.org/
SCUMBAGS
I can't belive you people would take out a cash advance then refuse to pay them back. Do you know that is fraud. Maybe you should read in to thoose laws. Mercy9796 all you are doing her is showing what kind of scumbag loser you are. You all should be ashamed of yoursleves. You are all thives. And you wonder why you will never amount to anything in your lives.
Perhaps if you were to spellcheck your tirade, I would take you
Perhaps if you were to spellcheck your tirade, I would take you more seriously. Then again, perhaps not.
Joe, if I come to you and count the illegal activities of your b
Joe, if I come to you and count the illegal activities of your business, you won't get a place to hide. You should know first that charging more than the state laws is serious fraud. You should be ashamed of yourself first before pointing to any innocent one.
1st i'm not with pdl company. 2nd you are all bums 3rd you all
1st i'm not with pdl company.
2nd you are all bums
3rd you all should learn how to save money insted of trying to rip off people who are offering you help when you have come across hard times
4th this website is making more money off all of you than any pdl company
5th las but not least i hope that all of you get you lives in order so that the world will be a better place for all of us.
Thank you,
J.l.
Joe....No one here is trying to get out of what they owe. The c
Joe....No one here is trying to get out of what they owe. The companies must write off any balance (after principal amount) exceeding what is legal in each state. If you'd research a little closer you would see that.
Well J. L. if you're not with a PDL company, why are you cruisi
Well J. L. if you're not with a PDL company, why are you cruising this site? What is your exactly is your business here?
USFastCash
I heard from USFastCash and they also wrote off my balance - finally, I'm getting some relief. I'm very grateful.
M
My bussiness here is none of your concern. My work is the LAW. M
My bussiness here is none of your concern. My work is the LAW. Miss moderator you must be an expert on payday loans. Do you even work? Probably not. You probably sit at home on your computer at this site, and when you are not on this site you are probably looking for the next way to get out of paying a bill. If you read the docs theese companys send you you will relize that all the fees associated with the loans are right there in writing. There is a reason they are called payday loans. You are supposed to pay them off on your next payday. You all should try to get one loan at a time not 100 at a time then maybe you wouldn't have to waste your time on websites like this one. By the way i'm sure if theese companies saw your credit report they probably think twice about ever giving people like you money.
Thank you,
Joe Lawman
By the way, if any of theese companies were donig anyting illega
By the way, if any of theese companies were donig anyting illegal way are there so many that are operating freely?? just a question since everyone here is so smart.
Just in case anyone's interested: http://www.consumeraffairs.
Just in case anyone's interested:
http://www.consumeraffairs.com/news04/cashback_payday.html
That's why you defaulted cause you figured out a scam good job.
That's why you defaulted cause you figured out a scam good job. Let me guess you live in new york.
Joe Lawman, ENOUGH IS ENOUGH!!!!! I am getting so damn si
Joe Lawman,
ENOUGH IS ENOUGH!!!!! I am getting so damn sick and tired of these jerks coming in here posting worthless crap. Get a life!
The only scammers here are the payday lenders. The only reason w
The only scammers here are the payday lenders. The only reason why there aren't more laws against them is that they are in cyberspace and so far no laws govern this. You would know this if you are indeed, who you say your are.
More and more states are beginning to realize the calamity of this and are implementing laws against these sharks.
The so called, "contracts" are null and void as they violate numerous state laws. Wage assignments? How come they don't sue more debtors in their states? Because they are illegal in most of them!
This may be fascinating for you to come here and shoot your mouth off, shouting isn't going to give you any credibility here either.
If you know the laws, then how about some intelligent feedback?
Joe, Most people who get PDL's have every intention of paying
Joe,
Most people who get PDL's have every intention of paying them back. Sometimes, circumstances happen that many people can't pay them back (such as a car breaking down, a family emergency etc). Yes, there are some individuals out there who do get PDL's and like they would with a relative or friend, promise to pay them back but never do.
Don't criticize them. I don't know what anyone else's circumstances are in here, but I have a PDL because I have no choice. And yes Joe, I have paid every single of my PDL's off. In fact, I have paid two off in the past month. The rest of them I am paying them off in time. Most of the PDL's I have dealt with have been pretty cordial with me in allowing me time to pay it off. One even allowed me to pay it off each week or every two weeks. There are some who are so shady and arrogant, much like yourself, who don't know nor care about the person. Honestly, I wish to God that they would put PDL's out of business and give honest people who are trying to rebuild their credit or to pay for emergency situations another alternative.
But for now we have PDL's. It doesn't make us bad people or not wanting to pay out debts. It just makes us human. And like you (at least one can hope), human beings make mistakes. But we learn from them and move on.
BTW, I work. Otherwise, I wouldn't be able to make my payments.
I'm still here. Don't get so mad. I know it's hard do yourself a
I'm still here. Don't get so mad. I know it's hard do yourself and the pdl companies you ripped off a favor and try to get a second or maybe even a third job and back you debts.
Thank you,
Joe lawman
Thank you joe. I have had several payday loans (i pay them back)
Thank you joe. I have had several payday loans (i pay them back)they have all helped me when i needed it most. The reason for the high fees is probably because of all these people who default. Thank you again joe for sticking up for these companies.
Yours truly,
Micheal Jones
Alexandra stop looking for a handout and grow up. If you want th
Alexandra stop looking for a handout and grow up. If you want them out of bussiness stop getting PDLs. Micheal Jones You are welcome. Finally some who is responsable.
Sure appreciate your small case, joe. What exactly makes you so
Sure appreciate your small case, joe. What exactly makes you so angry?
Erzeke, you crack me up!! Am I the only who thinks Joe Lawman a
Erzeke, you crack me up!! Am I the only who thinks Joe Lawman and Micheal Jones are the same person - LOL!!
joe,er..michael,no....joe! you're entitled to your opinions,
joe,er..michael,no....joe!
you're entitled to your opinions, champ!
you're also very entertaining.
Sue, you sloved the big mystery. Can't get one by you. Lol
Sue, you sloved the big mystery. Can't get one by you. Lol
wait let me look it up on dictionary.com - maybe then we'll know
wait let me look it up on dictionary.com - maybe then we'll know
Before i say goodbye i would like to wish you all more sucess in
Before i say goodbye i would like to wish you all more sucess in the future god knows you will need it. Remember if you need cash there is always a pdl out there willing to help when your friends and family don't give a sh*t we do. So just google payday loans and fill out an app your cash is minutes away. Just remember to pay them off in a timely manner to avoid the extra fees.
With love,
Joe lawman
Oh no, he's leaving, Erzeke, what are we going to do now???
Oh no, he's leaving, Erzeke, what are we going to do now???
Joe All I want to say you is "Thanks, but no thanks."
Joe
All I want to say you is
"Thanks, but no thanks."
Pleeeeeeeeaaaasseeee........don't come back again without some LIFE and Moral values. Learn to answer what you are asked rather than singing your own song only.
Joe, I'd like to wish you luck in the spelling department, becau
Joe, I'd like to wish you luck in the spelling department, because God knows you need it.
Go take your negative attitude somewhere where it's needed..
Ignore him. I think that he just wanted to complain. And I just
Ignore him. I think that he just wanted to complain. And I just I thought of something: why would Joe come here in the first place? Does he have a payday loan? Is he a payday loan company? Why, of all the websites, would you come here? Hmm.....
He probably works for a payday loan company. It was fun while h
He probably works for a payday loan company. It was fun while he was here but it looks like we made him mad and he left. Oh well...I'm sure he will be back or someone like him will, we know we can count on that.
The balance on account
My account has been debited twice a month for three month I need to know what is the status of my account :?:
Joe Lawman
1st i'm not with pdl company.
2nd you are all bums
3rd you all should learn how to save money insted of trying to rip off people who are offering you help when you have come across hard times
4th this website is making more money off all of you than any pdl company
5th las but not least i hope that all of you get you lives in order so that the world will be a better place for all of us.
6th I should improve my spelling & grammar since I have so many of my tickets dismissed because the judge cannot make out what I am saying.
Thank you,
J.l.
just a comment
I have borrowed money from this company when i really needed it. When no one else would help me. but I do think that they are charging just a little bit to much interest. I feel that the company can still make a huge profit without charging so much intererst charges.
Mercy I think thats great that you got 1 PIF.........Can someone
Mercy I think thats great that you got 1 PIF.........Can someone give me the link for the IN laws like Mercy has? Thanks...
Vernon and the other A&&holes trying to stir pots need to disappear!
Can someone help me with those letters for tx ?I am very confuse
Can someone help me with those letters for tx ?I am very confused and not legal minded and dont know reading the law when they are right or wrong with what they are doing but i need help I have 8 pay day loans and will pay them back slowly but need time to catch things up
PDLs
as I'm reading different posts, about 90% of people are in the same situation. People have gotten PDL's, to try to 'catch up' on things. And some of us have gotten 'way over our head' doing this. THAT'S why this forum is here..to help those get advice about our situations and get help. However...I AM reading the 'opposite' ( lack of a better word). Some forums I've browsed through ( correct me if I'm wrong, please..) I'm reading that some people DO know how to 'go around' PDL's. I mean by that is, they are looking up the SOL's and Codes, in the state they live in, and THEN getting PDL's.....having NO intention to pay them back. As I said, correct me if I'm wrong, but..is that what I'm understanding? If someone id doing this, that IS fraud.