Need advice on settlement offer from United Cash Loan
Date: Thu, 10/12/2006 - 07:52
Here is the response I received from them this morning:
Quote:
Ms. E***: This dept has researched your account. As of today 3 debits of $60.00 had cleared your account totaling $180.00. You originally agreed upon balance was $260.00. Your letter has also been identified as a cut and paste template circulating on the internet. IF YOU HAVE A LEGITIMATE COMPLAINT REGARDING THE HANDLING OF YOUR ACCOUNT, PLEASE SUBMIT THAT!!! At the time of application you were asked if you understood the terms and conditions of this loan, you had to answer YES, for us to even receive your application. You had access to the loan documents from the moment of application. There was also a 48 hour window in which to cancel the loan without incurring any fee. Lastly before each debit an account summary was sent to this same email and it again explained all of your options for repayment and the terms and conditions once more. If you had wanted to avoid additional fees, you needed to pay in full on your first due date, or soon thereafter. This dept will reduce your balance to $80.00, and we have now stopped all future debits to your account an collection efforts until 10/20/06. You must pay this by Western Union or Moneygram: If sending Western Union Quick Collect Pay To: Pinion Management Code City: Pinion State: KS Acct-FRD800EVANS Moneygram: Pay to: United Cash Receive Code: 4309 City/State: Miami, OK Acct-Compliance/EVANS You MUST confirm this agreement by 10/13/06, email us with any other questions or concerns. If there is no response we will continue collection on the full amount due and if unpaid, account will be sold to a 3rd party collector. United Cash Compliance Department Fax: 1-800-230-9480 Email: compliancedepartment(at)unitedcashloans.com |
My question is should I settle or send back another email emphasizing the fact that they are unlicensed to lend in Massachusetts and tell them I will pay the $20?
I don't know how most people feel, but if the original deal was
I don't know how most people feel, but if the original deal was 260, and you have paid 180 so far, what they are offering sounds fair.
Would you happen to have a copy of the letter you sent them? I am also trying to construct a letter offering a settlement.
thanks, and good luck!
tboz - this is the standard reply you'll get from a lot of onlin
tboz - this is the standard reply you'll get from a lot of online pdls. They'll say you were made aware, you agreed to, blah, blah.... The fact of the matter is, they knowingly entered into a lending transaction with a resident of a state they are not licensed in, which depending on your state's small loan/payday lending laws, can mean that they are now subject to the laws of your state.
You can either pay the $80 just to get them out of your hair and be done with them, or you can pay the $20 to cover the remaining principal balance, and pay the legal interest rate for your state, and inform them that this is all you're willing to pay, and reiterate the allowable interest rate on payday loans in your state.
