Need Advice re: United Cash Loans - should I take the Deal?
Date: Wed, 06/06/2007 - 10:19
Loan for $350, paid $525. Sent ACH revocation which they ignored. Filed complaints with STate of Wisconsin. They have sent correspondence this week. Just got offer from United Cash Loans. Should I accept or insist that account be PIF without further payment since they are 1) illegal and cannot get interest out of me and 2) ignored ACH revocation which I supported with EFTA case law.
Any help would be great as I only have 48 hours to respond.
Quote:
We received your recent communication in this department. The terms and condition are available from the website from the time of application, and there is a 48-hour window of in which to cancel the agreement and return the funds without incurring any fee. In addition before each debit an account summary is provided to you; which also summarizes the terms once more and all the options you have for repayment. We can fax a copy of your loan documents for your review. We do wish to assist you: ************Current Balance at this time: $455.00****************** We can offer a one time reduction offer: ______$155.00____ Your account has been reduced to the above amount owing until : ___06/15/07___. We will not debit your account again to give you a chance to pay the reduced balance, if no response or payment is made-regular debits will resume per the contract after 06/15/07. This is contingent on the fact no other debits are returned by your bank as unpaid. ****YOU WILL OWE NOTHING MORE IF THIS SETTLEMENT IS RECEIVED******* The money for the reduced offer must be sent via Moneygram, or by calling in a debit/card to this department at 1-800-394-3757. If sending Moneygram (available at most Wal-Mart's) Pay to: United Cash Receive Code: 4309 City/State: Miami, OK Account: Compliance/437776 After 06/15/07 if we have not received the reduced balance offered, the account will continue per the contract for the full balance. Please call 1-800-394-3757 if any questions, you must confirm this offer by email or phone within 48 hours. United Cash Compliance Department |
That depends....do you want them off your back? then yes, take i
That depends....do you want them off your back? then yes, take it. But to me, its the principle that you have already paid them well over what they lended you!
How long ago did you send out your letter to them and get a resp
How long ago did you send out your letter to them and get a response? Also, I live in Wisconsin too, and am dealing with the pdl places. I haven't heard anything back from the DFI yet, and it's been a week now. Maybe they are swamped. :(
I tend to agree with Leah. I hate that 48 hours to respond press
I tend to agree with Leah. I hate that 48 hours to respond pressure crap. Unfortunately your state offers no protection as far as interest rates by internet lenders is concerned. I say pay and walk away if you can afford it.
You have already paid more than the principal amount. You should
You have already paid more than the principal amount. You should have paid on their interests and fees only if they were a legit business in your state. Remember, these places will try to get your last cent until you stand as an informed consumer aware of your rights.
It will take some time to hear back from you DIF or AG's office
It will take some time to hear back from you DIF or AG's office regarding these matters. They have to send the complaint to the lender and wait to hear back from them. It could take several weeks but don't get discouraged by that. Personally, I would not pay them another dime. It seems to me that you have overpaid them so I would demand a paid in full letter. I would send this by e-mail, fax, and certified mail if you can.
DOn't pay them another dime. You have already paid back what yo
DOn't pay them another dime. You have already paid back what you borrowed. They are just trying to steal more money from you.
As a person dealing with the same issues as you- I personally wo
As a person dealing with the same issues as you- I personally would pay the $155 if I could afford it. I realize that they are operating illegally- and that you have paid more than the pricipal- but the truth is that yes, you did take the loan- with full knowledge of what it would cost- and you agreed to pay that- regardless of knowing if they were illegal in your state. I believe this forum is excellent- and in no way mean to send mixed messages about it's benefit- but I think we should be using these tools the website and members provides to get reduced amounts to pay off- but not necessarily to get out of paying what we rightfully owe. In the end- they did lend you money- you should pay back what you can and what you feel is reasonable interest. I realize that many people on here are very black and white- i guess I am alittle more grey. We borrowed money- and while it's not fair what they charge- it's equally unfair that we not uphold our end of the deal to the best of our ability. Just my two-cents worth. Take it for what you will.
That said, if you feel that you don't owe the additional $155 or that it's unfair- then tell the company such and wait for your AG's office to do their magic.