Help me out here

louise25. . .Welcome. I too am fairly new here so I would really defer to some of the more "seasoned" members. Just know that they will give you some great advice and all will be okay. I am sure that someone will be along shortly to help you out with this. Don't worry.

please let us know what state you are in

You must provide more information than you have, sure that you will get more help than you need here, just provide the information that they are requesting here, your state, was it a storefront or a walk in store, you have already stated the other information that will be needed on the amount borrowed and the amount paid back. someone will help you as soon as you list the information that is needed.

net cash is not licensed as a pdl.Please tell us what state you live in

iowa

Iowa State Information

Legal Status: Legal

Citation:
Iowa Code Ann. ???? 533D.1 et seq.

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: $15: $0-$100; $10 per $100 thereafter
Finance Charge for 14-day $100 loan: $16.67
apr for 14-day $100 loan: 433%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Two
Rollovers Permitted: None (cannot repay, refinance or consolidate)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: One $15 NSF fee (exclusive remedy)
Criminal Action: Not Specified

Where to Complain, Get Information:
Regulator: Iowa Division of Banking
Address: 200 East Grand Avenue, Suite 300 Des Moines IA 50309
Phone: (515) 281-4014
Fax: (515) 281-4862
Regulatory Contact: Rodney Reed,, Finance Bureau Chief
Regulator Website

Licensee Database

Complaint Instructions

Complaint Form Link

Online Resources

I ay have been wrong when i said they are not licensed. I just saw a thread that said they are licensed in the states they lend to. Let me do some research on this.

I could not find a license for them in Iowa. There is a cash net financial but i dont know if its the same

I had sent them email after email and never received a response even copied in the AG and never received a response. I was faxing them every week since July and they never once responded. Now I get this letter from debt collectors, so not sure if I should try and contact them again. this is net cash in espanola, nm. I don't think they are licensed in IOWA.

Smith, Haynes & Watson are RUTHLESS. They attacked my bank account at one time. If they are collecting a debt, send them a debt validation letter. You have overpaid your loan. The pdl turned it over to a third party. Fine. Send them a debt validation letter. They will NOT be able to properly validate the debt. But send that letter to them!

Okay, I will get that taken care of ASAP. Do I still need to send emails to NET CASH. I still have all of my faxes and emails that I have sent to them?.

I would leave Net Cash alone for right now. See what you get from SH&W. It seems as though they turned your account over to them, so let them validate the debt. It might be kind of funny. But, remember, they are nasty.

Cannr you're correct..SHW-they are nasty people! Nicole Ray espcecially. I finally let our receptionist know who this lady was & I haven't gotten a call sent to me from them in about 2 weeks. Of course Nicole was threatening like she usually is. Funny, last conversation I had with her she said she wasn't going to argue with me & that if i didn't -pay such & such amnt of money she would defer to their attorney & I'd never hear from her again. Well I didn't pay...but low & behold..I heard from her again.

This is really ridiculous that there are people out here like this. It would be different if I really owed, but I have payed well above and beyond what was needed to NET CASH and they never responded. I will get the validation letter sent out. Thanks for all your help on this.

No problem, louise. :D
lmk, you mean they haven't come with handcuffs and hauled you away yet? LOL! :lol:

Louise--remember to send any letters by certified mail, return receipt requested. Dont just drop it in the mailbox--you will want proof that they received it. If this comes to a legal issue, you want that proof in your hand. Anytime you send anything to a collection agency, you should do it certified mail like that.

Something else that may help you--the Iowa Attorney General's office could be a good resource. I know that your state has specific laws in place governing debt collection. If the AG's office were to learn that you overpaid on this loan, and the original creditor isnt even legally allowed to do business in your state to begin with, I would think that they might get involved.

The validation is a good choice--do send out that letter. I would also consider taking another approach, though. Me personally, I want that validation, but in the end the validation will be a moot point because netcash isnt even registered to do business in Iowa. This means that they illegally entered into a business agreement with you. And while I want that validation for my records, I am also pretty outsopken--I will tell them to get bent if I feel the need. And if I were in your shoes, I would most definitely feel the need, lol

After you send the DV letter, maybe send them a second letter telling them in no uncertain terms to get lost. No matter what, as long as netcash still owns this debt, they couldnt do anything to you legally because they cant take you to court in Iowa--that's collection activity and they arent registered there. And even if someone else did, you already paid them a ton of money--that alone would close the case. The more I think about it, the more a DV letter probably wont solve the issue because PDL's dont typically care about following the law, and neither does the collection agency youre hearing from now. I would probably, if it were me, send out a letter basically telling them that you overpaid on this loan, that netcash usa isnt even registered which makes the loan illegal anyways, and that they can take a long walk off a short pier. I wouldnt say it just like that, but you get the idea. If they then choose to come after you for more money, they dont haev a leg to stand on anyways, and at that point a DV letter will only serve to let you see more fdcpa violations happen. If you plan on suing the CA, then that could be helpful, but if you just want these guys off your back, tell them to get bent.

My problem is I have sent numerous faxes and letters to net cash with no response. Should I send the letter and fax that I sent to NetCash to them. I just want to be right. Thank you all for good advice, don't feel so stressed out since I came to this web page.

I wouldnt think that sending them copies of all the other letters would do anything because they only care about getting money. CA's like this will view such an act as nothing more than an excuse--they dont care about trying to work with someone. They only want to get paid. Keep those copies for your own records, though.

As for being right, I think you have done that. you paid nearly three times the actual loan amount, to a company that didnt have the legal right to give loans in your state to begin with. There have been court cases where a lender did that, and the court told them to go pound sand--that they couldnt collect one dime of that money because they broke the law in the process.

If you ask for validation, they will probably not give it. you can send them a cease and desist letter, and if they ignore that you can then sue them over it. At this point, honestly, I personally go looking for violations so I can sue them. As we speak, my wife and I are preparing a suit against a CA that violated the fdcpa 9 different ways in less than the first week of dealing with them. I am waiting to see about validation--requested but have not received it yet. Personally, once it gets to a point like that, I am going to sue. Each different violation of the FDCPA is worth $1000 in your pocket if you sue over them. of course, there is always going to be a settlement offer, but in the case of this CA I am suing, there is only so much money they can try to save themselves before I wont take their offer. And it isnt much.

Please let us know how this goes, and we will help with whatever we can along the way.

I certainly will and you let me know how your case goes. I will send out the letter with the validation and the cease and desist letter attached and see what happens. thank you skydivr for all your advice and to all of you for taking out the time to help out.