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Payday Loans USA sent me a response

Date: Fri, 05/04/2007 - 11:42

Submitted by anonymous
on Fri, 05/04/2007 - 11:42

Posts: 202330 Credits: [Donate]

Total Replies: 6


I took out many payday loans and have become overwhelmed. I recently closed my aaccount to stop the deductions and gain control. After spending some time on your site and others i have discovered that many of the loans i have are not following ca law. I sent an email to one of the companies pay day loan yes and here is the response i received can you tell me if this is true. The original loan was for 400. And i have paid back over 400. Some advice would be greatly appreciated


Quote:
We are now Pay Day Loan Yes, formerly CashNet500.

Your email does not forgive your debt. Please reference your loan contract
the Loan Note & Disclosure Statement, the Governing Law section. This is
what you consented to when you signed your loan contract.

Governing Law:

"Both parties agree that this Note and your account shall be governed by all
applicable federal laws and all laws of the jurisdiction in which the
LENDER is located, regardless of which state you may reside, and by signing
below or by your electronic signature, you consent to the exclusive exercise
of regulatory and ad judicatory authority by the jurisdiction in which the
Lender is located over all matters related to the Note and your account,
forsaking any jurisdiction which either party may claim by virtue of its
residency".

The loan payoff listed below is the best I can do for you. Once you provide
the required confirmation I will then remove you from further collection
actions.

As of today, your total CashNet account balance is $670, loan payoff is for
$600, payment arrangements are for three (3) payments $200 due on 5-11,
5-25 and 6-8.


The laws still apply no matter what they say. It is just like the "we are not responsible" signs that businesses post. If the law says you are responsible, you are even if you say you are not. Make the scum play by your rules. They think they are smarter then the rest of the scum. Scum is scum and scum is numb. Definately file with the AG and also the OCC and the FTC. It is time we started getting the Office of the Controller of Currency involved. If they are dealing across state lines I believe they are under their jurisdiction. No one wants to mess with them.


lrhall41

Submitted by Frogpatch on Fri, 05/04/2007 - 12:01

( Posts: 5381 | Credits: )


hello i am currently overwhelmed with payday loans. i am only paying interest right now which is over 1000 a month. how will it affect me if i close my bank account??? please help me!


lrhall41

Submitted by on Sat, 05/05/2007 - 07:50

( Posts: | Credits: )