PDL Problems, help is appreciated

Sorry bout that. . .the last post was from me. . .llw. . . site wouldn't let me sign in. At least I remembered to try this time!

No, Laura, I've not heard anything else from them since the jerk called my family. I did file a complaint with the BBB and faxed a letter to the AG in Indiana. I've heard nothing from anyone since. The BBB says they have till the 22 to respond.

I've read about them being MNE or MNT or something to that effect, but I'm not sure what exactly it means. llw if you have any suggestions, I'm all ears.. or eyes.. hmmm.. lol Thanks!! :)
Jen

A while back, when I was dealing with UFC, I sent an email off to MTE regarding the same. They came back with an email insisting that they had nothing to do with UFC. I started to research Native American Reservations in Oklahoma and discovered that PDLs carrying the P Street Address and/or the Eight Tribes Trail address was connected to Miami Nation Enterprises. There is also a Modoc Tribe that carries a 515 "G" Street Address which corresponds with different PDLs, but for the life of me, I can remember which ones at the moment. After much discussion, goudah was kind enough to do some additional research on court documents and was able to list the PDLs affiliated with each group on the reservations in Miami, Oklahoma, which confirmed my suspicions and the fact that MTE was not affiliated with UFC. I am sure that they are all "neighbors" and know of each other's comings and goings, but it appears that they each have their own "charges", if you will. Touch base with their processor, it might just pay off.

I got a love letter from 500 this morning... lol.

FinalCollection(at)500fastcash.com wrote:
Dear JENNIFER BAILEY:

500 Fast Cash Department now holds account Removed by Shazzers for your protection which is in a final collection status. According to our records, your outstanding balance is $385.00. (If you have recently resolved this account over the phone, please disregard this message.)

Most likely this loan was used to help with unplanned expenses. Keep this quick and convenient option available the next time something unexpected happens. Immediate action is required to avoid impacting your future borrowing options. We value you as a customer and would like to help you take care of this for less than you owe.

To accomplish this, we are providing you:

A private and totally secure website for making an offer on this account for less than you owe.
The convenience of making your payment(s) online.
The pleasure of clearing your account without ever talking to a collector.
Flexibility to schedule a payment today and not pay anything for up to 14 days.

It is quick and easy:

Grab your credit/debit card and click on this link to log on to the website finalcollections.500fastcash(dot)com. (We also accept online checks)
Enter your account number and last 4 digits of your social security number.
Through a few simple steps you can verify your account information, and tell us what and when you can pay to settle this account.
When your offer is accepted, and you make the required payment(s) YOU WILL OWE NOTHING MORE ON THIS ACCOUNT.

Please log on now to finalcollections(dot)500fastcash.com. This special offer is good only for a limited time.

Should you have any questions concerning this account please feel free to contact us TOLL FREE at 1-800-318-0166.

Thanks for being our customer,


500 Fast Cash Department
FinalCollections(at)500fastcash.com

--------------------------------------------------------------------------------
Hmmm, I think not! I've overpaid them by $125. I've not gone to their link yet to see what the "Offer" is. When I cut and pasted the address in a new window the page was blank with only a black OK on the screen. It makes me a bit nervous. I don't think I'll use the link. What do you guys think?

Here is my response to them:

Apparently there seems to be a lack of communication within your company. I am disputing this loan. I have filed a complaint with the BBB (That stands for Better Business Bureau) In Oklahoma. I have also filed a complaint with the Indiana Attorney General. It has come to my attention that your company (500fastcash) is NOT licensed to lend in the State of Indiana. Indiana requires that any lender who solicits to Indiana residents must obtain a license through the Indiana Department of Financial Institutions. Any loans made that are not licensed are deemed null and void. I have paid $425 on this loan and therefore have overpaid the principle by $125. I have attached the Indiana state laws below. I have REPEATEDLY asked for validation of this debt as well as verification that you are licensed to lend in Indiana, and a history of all money paid by me to your company for fees or otherwise. I have informed your company that you are not allowed to call me at work, that you are not authorized to contact my references, and that I have revoked ALL ACH authroization, as well as any wage assignments I may or may not have signed. I have requested a copy of my contract, which I NEVER received from your company, and the only response I have gotten was a threatening call from a representtive who informed me that "Yes the loan is illegal in Indiana, but we don't have to follow the law". Your representative verbally verified my suspicions. I have decided that since you are unwilling or unable to cooperate in this matter, I will follow through with legal action and will contact the Indiana Attorney General directly on Monday July 14, 2008. I will seek a refund for the $125 I have overpaid to your company according to my records as well as any other restitution I am legally entitled to.



Below are the state laws as well as a letter from the Indiana Department of Financial Institutes.



Indiana State Laws


Citation:
Ind. Code Ann. ???? 24-4.5-7-101 et seq.
Loan Terms:
Maximum Loan Amount: $500 (not to exceed 15% of borrower's monthly gross income)
Loan Term: Min: 14 days
Maximum Finance Rate and Fees: 15%: $0-$250; 13%: $251-$400; 10%: $401-$500
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One per lender; Two total
Rollovers Permitted: None (cannot renew, repay, refinance or consolidate)
Cooling-off Period: 7 days after 6 consecutive loans
Repayment Plan: After 6 consecutive loans, lender must impose a 7 day cooling off period or convert to an installment loan payable in more than 4 installments at a rate no greater than 36% APR
Collection Limits:
Collection Fees: One $20 NSF fee; additional charges may apply when check or authorization to debit was used to defraud another

Criminal Action: Prohibited
http://www.in.gov/dfi/

NOTICE TO UNLICENSED INDIANA LENDERS WHO ARE SOLICITING
BUSINESS IN INDIANA
Investigation by the Indiana Department of Financial Institutions (???????Department???????) has
determined that your company is among several unlicensed entities making or offering
consumer loans to residents of Indiana via the internet.
Depending on the type of loan being offered, your company is in violation of IC 24-4.5-
3-502 and/or IC 24-4.5-7-102. These statutes reference consumer loans, and/or Small
Loans (commonly referred to as ???????Payday Loans???????) and require a license issued by this
office in order to make these consumer loans.
During the recently concluded session of the Indiana General Assembly, there was a
change to the statute governing the territorial application of the Indiana Uniform
Consumer Credit Code, including the Indiana Small Loan Act. Effective July 1, 2007, IC
24-4.5-1-201 requires internet lenders to be licensed, and to comply with Indiana law,
when making loans to Indiana residents. Additionally, IC 24-4.5-1-201( reads ???????If a
creditor has violated the provisions of this article that apply to the authority to make
consumer loans (IC 24-4.5-3-502), the loan is void and the debtor is not obligated to pay
either the principal or loan finance charge, as set forth in IC 24-4.5-5-202.???????
You are advised to Cease and Desist the offering of these types of loans to Indiana
residents unless/until you have obtained the proper Indiana loan license. Consumers will
be advised that these loans are not in compliance with Indiana Statutes and that these
loans are considered null and void, and as a result, uncollectible. Additionally, the
Department may seek injunctive relief under IC 24-4.5-6 in the event of continued noncompliance.
All Financial Institutions operating within the state of Indiana will be advised that
electronic payment and / or paper/check transactions connected with these illegal loans
should be rejected if an entity is unlicensed. Consumers will also be advised on the
procedure to stop electronic debits to their accounts using return codes.
Questions concerning the acquisition of a loan license may be directed to this office.
Information is also available via our website at www.in.gov/dfi
Sincerely,
Mark B. Tarpey
Supervisor ???????? Consumer Credit Division

What a bunch of clowns. Any thoughts (other than I should have used spell check.. LOL)?
:lol:
Jen

Gotta love "special offers" :lol:

Jen. . hang tight. You'll hear back soon, I am sure. Just need to find that right button to push. Keep us posted.

nice jen,i did close to the same letter to usfastcash.only i cited
illinois law instead.they couldn't settle for what i owed fast enough.same thing too,they said you should pay to keep this
financial option open.who are they kidding. :roll: :roll: anyway
it looks like you are doing fine,keep us posted. :D 8)

Thanks guys! I must say though, I never would have had the courage to handle them this way if it weren't for the knowledge I've gotten from this site :) I'll keep you posted... I think I'll call the number and ask for a mailing address.. lol. :D
Have a fantastic Sunday!!
Jen

I know they say you should let sleeping dogs lie, but I've never been good about walking past a dog without petting it.. :lol:

I just fired this email off.. I found an email address for the Indiana Attorney General.. I sent a copy to 550fastcash :D

Good afternoon,

In February I took out a payday loan with a company called 500fastcash. I filled out the electronic application on the internet, I received an email stating that I had been approved and that the money would be deposited the next business day, and that I would be receiving my contract via email shortly. I never received the contract, but the money, $300 was deposited into my checking account the following morning. I received an email explaining how repayment would be made: I would have three options. 1. Pay off the balance; 2. Pay only the finance charge; 3. Pay the finance charge plus any additional. But I must send back the form no later than 3 days prior to the day they would debit my checking account, otherwise, they would simply take the $75 finance charge. Needless to say, I never received a copy of the contract, and IF they sent the form, they would send it 1 day before the finance charge was due, so I would never get it in on time to have them pay down the loan. This meant they would take $75 every two weeks and not put a penny toward the principle of the loan. I attempted to call their 800 number but would only get voice mail, when I left a message no one would call me back. They debited $75 a total of 4 times from my account, then after the fourth time, they raised the finance charge to $125. So in all, I have paid them $425 for a $300 loan.



I began doing research on the company and found that they are not licensed to lend in the state of Indiana. I closed my checking account, sent them a cease and desist letter, revoked ach authorization, requested verification of license to lend in Indiana, validation of debt, and a history of all amounts paid by me toward finance charges or principle. I heard nothing from them for a month. I sent the same email repeatedly, including a copy of the Indiana state laws, and a letter I found from Mark Tarpey of the Indiana Department of Financial Institutions. I also informed them in each letter that I was unable to accept calls at work and therefore they could contact me at my home number or via email or usps only. After I had sent about 5 emails to them, trying to close this matter, they called me at work. The man was very rude and hostile. He said 'I got your email and it doesn't matter that this loan is illegal in Indiana, we don't have to follow Indiana law' I told him the they very well did have to follow the law and that I had already informed them that they were not allowed to call me at work. His response was 'We can do what ever we want, and I can call you where ever I want'. I simply told him, "You can call me at home, or you can send me an email, but this conversation is over" then hung up. Several hours later, my mother called me at work and informed me that the man had called both her and my sister's house. He left a voicemail for my mother telling her I wouldn't pay my bills, and spoke to my 13 year old niece at my sister's home and told her that I wasn't paying my bills.

These people did not attempt to contact me regarding this debt until I had questioned the legality of it and the validity of it. They have refused to provide me with requested documentation. I am not sure where to turn from here. Now they are sending me emails telling me I owe them $385 which is $85 more than I borrowed, not to mention I've overpaid the principle by $125. I have found that they are supposedly using an Oklahoma address, and so I've filed a complaint with the BBB of Ok. Any assistance you can give me would be greatly appreciated. The best way to reach me is via email as I work from 8am to 5pm.

Thank you in advance and have a good day

Jennifer Bailey


We'll see what happens from here.. I"m going to send a copy of this email to everyone I can.. Anything I should add or subtract?
Impatient one, (hehe)
Jen

From what I read, it sounds like you've covered all your bases. I actually got a call from the CT Attorney General's office asking if I could send them copies of contracts because payday loans are illegal in CT period.

I am hoping that I'll hear something back from the AG. I faxed a letter to them a couple of weeks ago, but never heard anything, I'm hoping this works better.

I also forgot, I planned to post the email address for the AG, it is:
constituent (@) atg.in.gov
That is the email that goes to the office of the Attorney General, so we'll see what happens.. :) I'm not giving up hope yet. I hope that if they see I'm serious, they'll either close the issue or I'll get a refund. 2 down, 1 to go! Thanks again for all the help and support.. I only hope I can return the favor a some point!
Jen

I received an email back from the Indiana AG. Here it is..

Thank you for your recent e-mail. We are sorry to learn of your experience. Below you will find the website for a consumer complaint in which you can detail the alleged fraudulent activity. It would be helpful if you could include copies of all necessary and supporting evidence. We will write to the individual or to the company named in your complaint and request a reply to your complaint. Our office will attempt to mediate your dispute to a successful resolution. If our mediation efforts are not successful, it may be necessary for you to consult a private attorney or file a suit with your local small claims court.
Sincerely,

Constituent Services

http://atgindsha01.atg.in.gov/cpd/complaint/complaint.html

Making waves in Indiana!!!
Jen

Check it out! LOL

07/15/2008

Jennifer Bailey
4736 Wonderboy Way,
Fort Wayne, IN 46818

Jennifer Bailey,

Thank you for choosing 500FastCash, your choice for online cash loans. We are happy to assist you with all of your cash needs.
This letter is to confirm that your account with 500FastCash has a zero balance as of 07/15/2008. No further transactions will be debited from your checking account.*
If you have any question or concerns, please contact a customer service representative at 1-888-919-6669.
Sincerely,

Customer Service
* This is contingent upon no future returns on your account.

I went ahead and filled out the complaint with the Indiana AG. I'm shooting for the refund now.. LOL.
THANK YOU ALL FOR YOUR HELP!!! I AM NOW PDL FREEEEEEEEEE!!!!!!
Big hugs!!
Jen

Jen. . . . .again, congrats!

Jen, that's great! You've come a long ways in a short amount of time! You deserve to feel proud of yourself!!!

:D CONGRATS!!! :D

:sun: Congrats! :sun:

Thanks guys!!! But as I said before, I couldn't have done it without this forum! I'm so happy I took the time to stop and take a breath and reason everything out. The amazing thing is.. I signed up for PDL Assitance, I had paid the initial payment but was a bit suspicious and nervous, so I googled them and got here.. I never paid them another penny, it cost me nothing to take care of this on my own and in fact I ended up getting a $175 refund from one!

It takes some time, effort, and persistance. I think my "carpet bomb" of emails did the trick. Thanks to llw I got email addresses for everyone involved and a few who didn't know they were involved.. lol. They all got the same email. I'm not going to drop my complain with the BBB or with the AG. Who knows, I might learn something more about that $1000 thingy.. LOL
Thanks!!!
Jen

Jen. . . thanks for the kind words. I know just how low this situation can make you feel and I am glad to help out when I can. It makes me smile (can you see me beaming) when people have kicked these guys to the curb! One day at a time, one PDL at a time. Together we can accomplish anything!

Can anyone tell me how I can find out if these companies are legal in NYS? I have been paying $450 every 2 weeks in finance charges for the past 2 months. I was finally able to put stop payments on them and now the calls and e-mails have started. 3 of the companies give the same phone number. Midland, SSM Group CMG, ameriloan, NLS and NHCash. I had 3 deposits posted to my account and from what I could tell, I only authorized 1. Any help would be greatly appreciated

Hi Kalja,
If you've not already done so it might help if you start a new topic. Make sure you provide as much information as possible. The format I used was:

What state you reside in:
PDL Company name - $ borrowed- $paid (including fees)-internet/storefront.

Be sure to specifiy as much info as possible so that it makes it easier for the folks here to look things up for you. You can also do like I did and try doing a search in the box at the upper right hand corner for infomtion on your State, as well as information on the various pdls.

There is a wealth of information on this site. I'm sure someone can help you. It looks like you did a stop payment, but it's been said that the pdl companies will change the $amount or try to withdraw under a different name, so you might want to talk to the bank about a ACH block or other options.

You can do it!
Jen

I can tell you right now PDLs are prohibited in NYS. That is where I reside and being a resident of this great State does have an advantage when dealing with PDLs. Jen has requested some info that will help us help you so please try and post it ASAP. First and foremost, you need to run to your bank and close your account. It is the ONLY way to keep your money safe. Which three of your PDLs carry the same number? I can tell you right up front ameriloan is part of MNE and I have dealt with them but I did get rid of them pretty quickly. Go ahead and post that info. Hang tight and help is on the way.

Any help with Massachusetts Laws? I was just threatened and hung up on for a payday loan I thought I had paid off two years ago. They accused me of being a criminal and said I would be arrested tomorrow.

First off, I highly doubt you will be arrested. Someone can post your State Laws for you, but while you are waiting, do you have any paperwork showing that the debt has been paid? Hang tight.

Okay Gang,
I'm patiently waiting to hear what the outcome of the complaint with the Indiana AG will be with 500fastcash. I have a feeling that they just won't respond. I've gotten my PIF. Should I take it and run? Or should I address the fact that I've overpaid by $125 with 500? I am quite happy to just have them off my back, out of my hair, and out from under my skin (pesky little buggers aren't they!?), but part of me is thinking, I could use that money these crooks took from me. What do you guys think? Do you think it would open a can of worms, or that it can't really hurt to try? I think I scared the begezzies out of them with my mass emailing to all involved. They never addressed the complaint I had that I've overpaid. Any thoughts?
I'm such a trouble maker :oops:
Jen :D :D

i would just smile and move on.no d/b/a of there group gives
refunds.i was trying to get my 150.00 back from ameriloan,but
alas i decided to let it go.they still send me there stupidity about a new loan LOL.

I'm with paul on this one. Sure a few extra bucks in your pocket would be wonderful but that PIF in hand is making you smile. Don't give them any more of your time. They are history. Enjoy your freedom and the day!

Thanks for the input guys :) I'm sure they would simply ignore it. And my time and effort is worth a lot more than $125. Who wants to deal with ignorance more than they have to? LOL
I will certainly enjoy my day! I hope you guys do the same!
Jen

Jen. . .for what it's worth, I think you have made the right decision. You are exactly right about the ignorance thing. Responding just feeds into it. Take care and have a good one!

This may be an obvious questions but what is the difference between an online PDL and a store front? Just want to make sure I'm not missing something. I believe that all of mine are online.

On line is just that. You negotiate the loan via the internet. Storefront is a physical location to get a loan. Hope this helps.