I need help in Florida
Date: Fri, 08/10/2007 - 19:59
Advance America (store) $500+55=$555
ameriloan $450+135=$585
CashnetUSA $800+206=1006
Paydayslect $300+75=$375
INT/B.I.G. $300+75=$375
Loan Point/Geneva Roth= $300+90=$390
Impact Cash $300+90=$390
Fast Cash USA $150+45=$195
I fell into the trap of borrowing more to pay of the interest of the others. I am goin to go in to the bank on Monday to see about taking care of my account whether closing or puttin a freeze or what. I have already stopped my direct deposit. What are these letters of revocation? Can I write anything or do I need to follow a format? What else can I do? I am not even sure what Florida's laws regarding Payday loans are. I have tried to talk to credit counselors and so far I get we can't help you with PDLs. I am not trying to skip out on anything I just need payments so I can pay my bills and get them paid off. Any help would be greatly appreciated.
It is still open with no blocks. The branch manager refused to d
It is still open with no blocks. The branch manager refused to do anything saying that it would automatically close on 9/3. Corporate just called back and said they are going to close it now and then will look at reversing some of the NSFs. Then they would reopen a different account for me to use.
I replied to Impact cash yesterday. This is what I wrote: Quo
I replied to Impact cash yesterday. This is what I wrote:
Quote:
I have already talked to my AG's office. They have explained fully what my rights are in regards to internet paygay loans, regardless of what state they are in. In fact they have encouraged me to file a report with them which I haven't at this time. I am not trying to skip out on this, but I have the right to only pay what Florida laws stipulated. On a $300 loan the total amount allowed is $335 (principal+10%interest+$5 verification fee). With the payments I have made it leaves $150.00 remaining. I will have this paid by 10/12/2007. I will try to pay as soon as possible. I do expect the account to be marked paid in full at that time. Any further communication needs to be via email or USPS. I will not take phone calls on the advice of an attorney. |
They responded today with this:
Quote:
After speaking with my management department, we are willing to accept your offer to settle for $150.00. Please forward me the date in which you intend to pay this, and the method you will be using. I am looking forward to working with you. Thank You, Randa Purcell Impact Cash |
Didn't I already specify 10/12/2007?
pyb
Wonderful! pyb, you're bank is working with you. Good. Make sure they get all those NSF fees taken off. And I'm so glad you got a positive response to your email! I guess just email them back and re-state the date! So, they're idiots! As long as they're working with you! Well done! :D
I forgot to list 500 fast cash as one of my PDLs borrowed $
I forgot to list 500 fast cash as one of my PDLs
borrowed $300/paid 270
They emailed me a settlement for $120. I figure at most I owe them $65. Even if I wanted to settle I would not have the money before they wanted it. So I emailed them back reiterating that I would pay $65.00 and reitierating the ACH revocation. They immediately emailed me back this:
Quote:
OK, we will take this as a refusal, and your account will continue per the contract. We will not respond to any further email demands, you have a good day! |
Of course they had it in larger blue letters. AM I in trouble or is this a normal threat?
Julie
pyb
Don't take it personally, pyb! This is a famous reaction of a MTE d/b/a. I refused to "settle" with them on any of my pdl's because they wanted MORE money and I disagreed. Once I stated I did not agree to the settlement, I got the "form letter" response also. LOL! :lol: So my MTE's are still sitting here and they're still trying to pounce on my account after almost 3 months now. Be very leery of them. They will continue to try to get money out of you. And not what you "really" owe. And not even what they wanted to "settle" with. It'll be for a whole lot more money. Watch them.
Do not be afraid of these MTE companies and their scare tactics.
Do not be afraid of these MTE companies and their scare tactics. There is little they can do as you are within your legal rights.
I just got off the phone with Fl dept of Finance. She asked me t
I just got off the phone with Fl dept of Finance. She asked me to please email her my complaints so she could add it to the numerous ones they already have. The complaints are in investigations right now.
I hate banks!! Now my old bank is telling me they won't close my
I hate banks!! Now my old bank is telling me they won't close my account or freeze my account unless I pay them $300 dollars up front. $300 dollars won't get it back in the positives. i will be able to pay it in full in September. First they say do not make any payments until it is closed npow they say make payments. AAAAHHH!!!!
Okay thanks for letting me vent!
pyb
pyb, I had a "bad bank day" the other day. I can totally understand what you're going through. I don't understand it myself. What is your banks problem now? Why do they want $300 when this won't even bring it into the positive? And, what about all the pdl debits that weren't authorized? Are they going to reverse those? What's up with this?
One of the Florida investigators for the department of finance j
One of the Florida investigators for the department of finance just called me. She said 500fastcash and Cashnetusa are not licensed in Florida. Florida is looking at them under Fl Ch 517 consumer loans (or something like that) not ch 560 PDLs. As they are not licensed in Florida they can only charge 18%. They are sending letters to these 2 companies today in regards to the numerous complaints received. She requested permission to add my name to the complaint and yes I agreed. She stated that I would be hearing from her in the next few days about what our next step should be.
Do they know that Cash Net USA is acting as a CSO in Florida? I
Do they know that Cash Net USA is acting as a CSO in Florida? I wonder if that would make any difference . . . . . It would be great if they could close off the whole CSO model of pdl's . . .
She said that she is aware that they are a CSO but they do not h
She said that she is aware that they are a CSO but they do not have a license in FLorida. SHe feels that they should fall under Ch517. I will let you know what she says when she gets back to me after contacting the companies.
Looking up Florida statutes I believe she meant ch 516 not 517.
Looking up Florida statutes I believe she meant ch 516 not 517. Ch516.02-2a states
Interesting!
cashnetusa
I was reading some of the posts on the forum about CASHNETUSA. I see that there are posts stating that they are legal here in Florida. I got worried, cuz I have a pdl with them. I am currently working with Sandra Smith with the Florida Office of Financial Regulation. I emailed her about them, asking if they are legal here in Florida. Here is her response:
Quote:
I received your emails and documents this morning and will review them as soon as possible and pass them on to our investigative team. The answer to your question: Cashnet USA is not registered/licensed with the Florida Office of Financial Regulation to issue payday loans under Chapter 560, Florida Statutes, or consumer finance loans under Chapter 516, Florida Statutes. I noticed the company did not provide the proof you requested. Additionally, I cannot locate any active registration with the Florida Department of State, Division of Corporations. We'll be in touch with you soon. Sandra Y. Smith Senior Management Analyst II State of Florida - Office of Financial Regulation Bureau of Money Transmitter Regulation 200 East Gaines Street Tallahassee, FL 32399-0378 Phone: 850-410-9815 Fax: 850-410-9748 |
That is why my case is with an investigaot now and they are cont
That is why my case is with an investigaot now and they are contacting the company about operating here in Florida. She says they aren't illegal to operate here but because they aren't licensed or anything they can only charge 18% max.
cashnetusa
It is alittle confusing, ain't it?? All I know is I was told that in order for them to loan in Florida, They have to be licensed here. But I'm sure that there is some kind of loop hole they will CRAWL into, like the snake they are.
reply
pyb and nutsie, your state agency is working with you regarding this! I, personally, am excited about this! On one hand, your state is saying they are not legal - even if they are acting as a CSO. This is good! On the other hand, if there is a "loophole" as you're thinking, at least the state is looking into it and will give you a definate answer. Either way, something good is going to come out of this mess. Either we're going to find out that they are NOT licensed in Florida as a pdl or a CSO (which would be wonderful) or we're going to find out what exactly they are if they are indeed legal. Which is good because I'm sure MANY people are anxiously awaiting the outcome of this. Hell, I'm not even in Florida and I'm dying to find out the answer to this mystery!
Well my bank finally closed my account, after days of calling an
Well my bank finally closed my account, after days of calling and harrassing them and screaming fraudualant charges. They changed their tune though when I told them that I had talked to the Department of Finance and they said the bank has to do something. The response back to me was "I know we are operating legally, we have done nothing wrong, but here your account is now closed."
On another note. I had to laugh when I opened my email today and their waas an email from a PDL that I had used in the past saying Happy Birthday! Need some money?
NOT! Definitely not going to fall into this trap again. I would rather not eat for a couple of days than have to start all over on dealing with these PDLs.
reply
pyb, I'm rolling here! I got an email from Cash Borrower the other day. I almost fell out of my chair thinking they were sending me another THREATENING ILLEGAL email regarding my "loan". No. It was them letting me know that "they have money for me". LOL! :lol: Idiots! Are they all nuts or what?
Well, B.I.G, which is one of the pdl's that I have, has startin
Well, B.I.G, which is one of the pdl's that I have, has starting the calls. I'm actually have some fun with it. They are telling me that they want $360.00 ( for a $250.00 loan) from me. I told "Sam", who barely speaks english, that I want some kind of documentation and an audit number from them, which will prove that they are legal here in the state of Florida. I said 'no more phone calls!' Got a call again today from some female, again, barely speaks english, demanding $360.00. I said to her, again, what I WANTED! Thru her screaming in some language i STILL cannot understand, with me screaming back, do not call me, my work or anyone else as I have filed a complaint with the BBB and the Attorney Generals office. Then I hung up and sent the email that states the Florida law on payday loans and that my account has been closed and on and on and on........ :wink: Now Genva Roth emailed, wanting me to call them concerning my loan. I promptly sent them the same email about my account is closed, the Florida payday loan laws and on and on and on..... They are the only ones that I have heard lately, but I'm ready for the others, let the good times roll !
Nutsie
correct or crazy?
ok, I have been reading thru several forums on here, and I need some claification please. maybe I just havent had enough coffee, yet. But I feel I am missing something. Ok as an example, I take out an internet payday loan for $300, with a finance charge of $90. when my loan comes due and they only take the $90 finance charge and my loan "rolls over" to the next payday, then they take out another $90 and this goes on and on. Never paying anything on the principle, unless of course I contact them and set up a paydown or pay off. this is what it states on my 3 payday loans. But what I am reading on here is that that "finance charge" could, or should be paying off my loan??? so if I borrow $300 and they hit me with a $90 finance charge 5 times, my loan should be considered paid? because I actually only owe them $390. Am I correct or crazy?
I just realized how old this thread was, I sure hope some one no
I just realized how old this thread was, I sure hope some one notices my post.......
Quote:Originally Posted by Anonymousok, I have been reading thru
Quote:
Originally Posted by Anonymous ok, I have been reading thru several forums on here, and I need some claification please. maybe I just havent had enough coffee, yet. But I feel I am missing something. Ok as an example, I take out an internet payday loan for $300, with a finance charge of $90. when my loan comes due and they only take the $90 finance charge and my loan "rolls over" to the next payday, then they take out another $90 and this goes on and on. Never paying anything on the principle, unless of course I contact them and set up a paydown or pay off. this is what it states on my 3 payday loans. But what I am reading on here is that that "finance charge" could, or should be paying off my loan??? so if I borrow $300 and they hit me with a $90 finance charge 5 times, my loan should be considered paid? because I actually only owe them $390. Am I correct or crazy? |
You are correct, but only if they are not licensed in your state. Do NOT confuse legal, licensed lenders with the bottomfeeders that ignore the laws/regulations of the state in which they are lending