MTE IS UP TO SOMETHING

Whatever you decide to do, I would definitely NOT provide them with ANY checking account or credit card information - you'll never get rid of them! (I've even had PDL companies e-mail me that they'll be willing to give me MORE money, even after I've closed my checking account. Of course, in order to do this, they'll need my new checking account information. Yeah, right!!!)

They offered to settle with me as well. I had paid them $430 on a $200 loan. The wanted to waive the remaing $30 fee if I agreed to pay the remaining $100 principal balance.

I did't respond. PDL's are illegal in my state and I think they have been well paid for their $200 loan. I too had 7 days to respond to their "generous offer". After the 7 days was up and I hadn't responded they sent me another letter letting me know that I was being turned over to collections.

If it's an illegal loan then all you are obligated to pay back is the principal amount. I wouldn't opt for anything they suggested, it would be a money order, or zip, zero, nada. And they would only get back the principal amount, period. But, that's just me. Please don't give them your credit card or bank information, they will drain you dry if you do. :?

I received a message saying that I have defaulted and i should contact their recovery department to get my account active status... blah blah blah....I have paid $1035 on a $800 loan...well old loan paid off was for $300 and my new loan was for $500. still $235 over the principle and illegal debt, makes me think they got enough from me...I did request a refund...but only just want them to go away..

still awaiting my settlement email...........

Thanks so much. I had planned on getting
back to them and offering 210 which is
the balance of what I owe and I will pay
them by money order and I already have
their address. I will give it to them
in 2 installments and be done with it.

right on shazz,in addition i would send it certified mail return receipt.enclose a letter as well citing that pdl's are illegal in your state.include a c & d letter.

I trust you guys implicitly and that is exactly what I am going to do. Hopefully soon I will be such a help to others.

keep us posted djones.it sounds good to me. :D 8)

Tell them you will take Option 4...

Option 4-Pay $210 in two installments via money order

I spoke too soon on this one: here is what they just sent to me...need feedback...
MTE FINANCIAL SERVICES

FAX: 866-668-0535

Email: compliancedepartment(at)mtefs.com

uuu

February 29, 2008

(name removed. cannr)
(address removed. cannr)
Email: (email removed. cannr)

RE: Your Complaint

(name removed. cannr)

We have received and reviewed your correspondence regarding your complaint with the company.


While the information that you have collected may apply to companies that have physical locations in your state, it is our opinion that it does not apply to our internet business model. This is based on sound advice from our legal department. In addition, the Legal Disclosures provided for customer reference at our website state the following:


Regardless of where you may be viewing or accessing this site, you as the borrower are responsible for complying with any local statutory obligations that may exist in your state or area with respect to this transaction. The Federal laws governing this consumer loan agreement may differ from the laws of the state where you reside. If you do not want to enter into a consumer loan agreement with us under our terms, then you should apply for a loan at a provider located in the state where you live.


Based on the information supplied in your complaint, it is evident that the information derived from some sort of form or template, as it does not apply to your particular loan. It is strongly advised that consumers do not fall prey to the contributors of this type of information, as it is not always true, nor does it apply to every circumstance. Often, the information actually incriminates the consumer for not abiding by the laws of the state that they live in. Additionally, any contradiction to a consumer????????s signed loan agreement can actually put them in default. While it is appealing to a consumer to find what appears to be an "easy way out" of their debt, there is no such thing if the debt is substantiated by a legal, signed contract. Using information containing legal jargon that you have not actually researched in an attempt to threaten a company into writing off a balance that you know you owe can actually be harmful to you as a consumer.


The money was lent to you by our company in good faith with the understanding that you would abide by the terms detailed in your loan contract, just as we upheld our end of the agreement by crediting the funds to your account in a timely manner. The Loan Note and Disclosure that you e-signed and thereby agreed to is very detailed and clear so as not to cause any confusion to you, the borrower, and meets all the Truth-In-Lending and Reg Z requirements as prescribed by Federal statute.


Upon review of your account history, you clearly knew all terms and conditions of your most recent loan, as you have been approved for loans in the past and have applied on other occasions for additional lending. We have all legal contracts that you e-signed, thereby agreeing to the terms and conditions of the loan(s). Having had loans in the past for which the terms were exactly the same, claiming not to have understood the terms of this loan can easily be disputed, as you were not coerced in any way by our company to reapply and did so on your own. It is highly unlikely that a customer would return to a company for additional lending if they had been unsatisfied with the service the first time.


Due to the fact that you have revoked authorization on our debits, no further debits will be made from your account from this date forward.


Due to the fact that you are clearly in a situation that led you to use any information that you could obtain in an attempt to relinquish your debt with our company, and in the interest of good customer service, we have agreed to waive all finance charges currently due on your loan and settle for complete payment of the principal balance owed. It is our hope that this will ease some of your financial burden, as well as avoid further collection efforts that would inevitably ensue should you default on your loan agreement.


We will be prepared to provide you with the information necessary for repaying the $500.00 that remains due on your principal balance, after waiving your $150.00 finance fee. Payment must be received by you in the form of a Cashier????????s Check or Money Order, as you have revoked our authorization to debit your account. We expect this offer will bring us to an amicable resolution.


Please acknowledge your understanding and acceptance of our proposal if you are in agreement with the offer detailed above, and advise which payment method you will use. Once your acknowledgement/agreement is received, we will provide you with the information needed to make the payment. Once we have received this payment, we will mark your account "Paid in Full."


If your response is not received within seven (7) days of the date of our offer, the offer will become null and void and collection efforts will resume.


Thank you for your time and consideration in this matter.

Respectfully,

Compliance Department

CC/file

I forgot to delete all my info...just stupid...

yada,yada yada.typical mte.that is what they sent me too.they are not going to do anything,except call your ear off.that is why i said send a c&d letter.that prohibits them from contacting you,in any form.send the 210.00 certified mail return receipt.they are illegal and have no leg to stand on other than the 210.00 you legally owe.
that first part was just my thoughts on mte.

paul....I know, just interesting...i will say I don't even owe them the $210, between the last loan and this new one I have paid more than the priciple of new loan...thanks for reassurance........makes me feel much better........everyone is so amazing on this site.......

thanks tons..

I did and continue to send them my letter that is full of information from c&d and revoke wage assignment...they just got another email with the same letter...

guess i will continue to send a million times until they know they are not getting another dime...

good for you keep us posted. :D 8) :wink:

Talk about a "Template Letter" that is word for word the same letter they sent to me.... I am sending it to the NC AG. I didn't respond to it and they sent me a letter letting e know that since I didn't cooperate with their "generous offer" they were turning me over to collections.

well guess we all are going to collection hell with these guys....... ha ha...

angell, keep us posted as well......

I will, can't believe they want another $100 from me. I've already paid $460 on a $200 loan.

We shall get through this!

we shall get through this....don't pay another dime...really....

I have just learned to continue to email them my letter and move on to the next day and do the same...

hopefully they will go away soon....

they eventually give in,it takes time though.i took a year before they accepted the fact i owed usfastcash 100.00 instead of the 650.00 they claimed.stick to your guns.they are wrong and we are right. 8) 8)

They are least of my concerns really... I still have yet to hear from my cash now or M1Y. I way overpaid M1Y and I feel that I own My Cash Now $240.00. Sometimes I start worrying about it but I try to remain calm and remember that "they can't eat me"!

It does wear you down, especially if you can't get any work done and you think oh my goodness, what am i going to do...

They can hassle you, but complain, BUT, know that you get your whole paycheck back and nothing feels better than that....

I sort of laugh somewhat because there are so many of us, I wonder how they keep track...but they do.....probably someone with a whip giving them slashes if they don't be mean and send at least a zillion emails and make phone calls a day....but what is really sad, as soon as we figure out they are illegal and quit paying, there is someone else behind us getting a loan and getting into this mess and eventually have to come to this site...which in fact saved my life........it's true........

thanks....tons.

I agree there. Without the great support and advice from this site I don't know what I would have done. My life has been a complete nightmare for the last three years becuase of a very bad guy. He was hell bent to destroy me mentally and financially. 2008 is my year to take a stand against the abuse and get control of my life back. I get down quite a bit and sometimes just need people to talk to. Starting to get the financial part taken care of has been a huge relief for me.

I am so proud of you angell...definitely hang in there and there are lots of friends on this site...totally amazing...stay clear of bad guys and the pdl bad guys.....

I hope you find peace within your heart both mentally and financially...

Yes Angel,

Keep your head up and KNOW that everyday we work on these things whether emotionally, financially, spiritually it will get better.

I am. I've always been to nice and I let him get the best of me. Not sure when I lost myself really. Getting my finances back together has helped alot. I hope everyone has a great weekend!

You too Angel....

Hell, I'm proud of ALL of you! :D Every one of you have taken the first step to get rid of this horrible mess. It takes hard work, determination, and guts to do what you are doing. And you are all doing it. I applaude all of you. It's time to get it done and over with (and I promise you will live through it!) and lead a "normal" life once again! It will be done!

And, none of you worry about these MTE a$$holes. Okay? They are so friggin illegal, it's a joke. As paul said "yada, yada, yada". And I can totally relate to that. MTE sends the same "form letters" to everyone. EVERYONE. I had 3 MTE related pdls. I got the same letters from every single one of them over and over and over again. I could tell you word for word what they were going to say. It was insane. Do not agree to pay any more than the principle amount of the loan. And, as I always say, they are damn lucky to get that, the illegal idiots. They will send "final notices", "collection notices", "legal notices", etc. All a bunch of hooey. There is no legal department, no collection department, no anything. It's just THEM. They are soooooooo full of it. Never agree to give them credit/debit card information, bank information, nothing. No information is what they should get. Do not pay one penny more than the principle amount. What are they going to do? Just throw more "form letters" at you and throw more illegal threats at you. That's about it. It's not like they're going to come here and press charges against you. Good Lord! They don't even want anyone to know where they actually are, let alone come out into the daylight!

Keep up the firm hard stand with them. You will come out on top. Even if it takes time. You will come out of this just fine. And, no, they can't "eat you"! I loved that one!! :lol:

Great job to all of you!

What do I need to do to set up arrangements?

This is a debt forum not a PDL company. What type of arrangements are you trying to establish?