cashzip PDL - any info?
Date: Wed, 07/02/2008 - 09:46
I'm curious to know if anyone has overpaid this company and successfully negotiated with them to pay off a loan. I have borrowed from them since 2003 and paid thousands of dollars in overpayments (I know, I know...). They are based in SD, and are licensed there as M3 Internet Services. They are not licensed in NM, where I am. I have learned from this site that they are somehow affiliated with Easy Money Express in NV, which is not licensed in NM, either.
M3 Internet Services is in La Fayette, GA; I suspect that they are taking advantage of SD's "safe harbor" laws, as their interest and fees are insane (423.53% apr, when NM caps APR at 417.14% AND they allow rollovers, which NM prohibits).
I have notified my Attorney General and the NM state Regulation and Licensing Dept (Financial Institutions Div) about them. I have also opened a complaint with the BBB.
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You are on the right track so far with the complaints. So are yo
You are on the right track so far with the complaints. So are you still currently paying them, and how much have you originally borrowed?
cashzip.com PDL - any info?
My most recent loan from them was for $450 from April 30, 2008. $90 loan fee (NM caps loan fees at $15.50 per $100, plus a .$50 verification feed per $100, so their max loan fee, IF they were licensed, should only be $72). So they say that I owe them a total of $540.
I contacted them via email a few days before my payment was due on May 16 and told them that my husband had just lost his job (which really happened) and that I was concerned about being able to pay them. They asked me if I could make 4 monthly payments of $135. I could not (and still can't), so I counter-offered with 10 payments of $54. I also told them that since I'm in NM, I'm entitled to an extended repayment plan, to which they responded that they're a SD corporation and follow SD banking laws.
They agreed to the 10 payments of $54 BUT have only debited my account once so far - $54 on May 16, as we discussed. When I check my account status online with them, it says that my loan is overdue and to contact them to make repayment arrangements. I have not heard from them since.
I have been lurking on this site for several weeks and finally got up the guts to take action, filing those complaints and working with my bank. I have figured out that I have (gulp...) borrowed $3,650 from CashZip since 2003 and I have repaid $6,841.49.
So this 10 equal paymnets of $54. Did you ever get that in writi
So this 10 equal paymnets of $54. Did you ever get that in writing or was it verbal? :?
WoW, ok. So they are licensed in SD, but not in NM, your state.
WoW, ok. So they are licensed in SD, but not in NM, your state. So you borrowed $450, then you pay $450. That's just my opinion on the matter. Someone will be along that has more experience with this company to help.
Seems 10 payments of $54 is paying them high interest and fees that are unecessary to me :? Either way they have not debited your account since May correct? Then I would contact them ensuring they are following the agreement arranged.
cashzip.com PDL - any info?
yup, that's right - they've debited once, May 16, for $54. So arguably I owe them only $396. I'll see what their response is to the BBB. Maybe they'll allow me to enter into the extended repayment plan I initially asked for. Thanks so much! I was surprised not to find more info about this company on this forum, as they have been lending at least since 2003.
Some IPDLs are hard to track down if they do their business unde
Some IPDLs are hard to track down if they do their business under d/b/a's :? I did not find any info one of my PDLs on this site either, but they never contacted me again anywayz, so I was happy!