Zipcash
Date: Sun, 09/28/2008 - 12:29
According to them, I still owe $400.00 on the loan.
My most recent payment was returned by my bank because my bank account in now in the red due to all the PDL craziness.
I don't want to pay them any more money. What should I do first? I know they will be contacting me soon because my payment was returned to them NSF last Thursday or Friday.
Please Help! Thank you.
I have also been contacted by third party collectors on some old payday loans and have received a lot of information on this site in dealing with them. Sent them all emails this weekend, and plan on faxing (not from work) and certified mailing, return receipt required, tomorrow after work. They just yell at me, or talk faster, or in circles, when I ask them for debt validation, or even my account number or who the original creditor is. One 3rd party doesn't even know my original creditor I think. She just calls it One.
I dealth with them - they are actually not half bad to work with
I dealth with them - they are actually not half bad to work with. I emailed them a C&D letter and they did not call. Once I filed a complaint with the BBB they offered a refund. Not for how much I felt i was entitled to, but better than nothing :)
California requires Internet based pdl's to be licensed by your
California requires Internet based pdl's to be licensed by your state, Zipcash is licensed in NM, making it not legal to loan to Ca. residents.
Quote:
California State Information Legal Status: Legal Citation: Cal. Fin. Code ???????? 23000 to 23106 Loan Terms: Maximum Loan Amount: $300 Loan Term: Max: 31 days Maximum Finance Rate and Fees: 15% of check Finance Charge for 14-day $100 loan: $17.65 apr for 14-day $100 loan: 459% Debt Limits: Maximum Number of Outstanding Loans at One Time: One Rollovers Permitted: None (cannot charge fee for extension) Cooling-off Period: None Repayment Plan: Voluntary (no fees may be charged in conjunction with payment plan) Collection Limits: Collection Fees: $15 NSF fee Criminal Action: Prohibited Where to Complain, Get Information: Regulator: California Department of Corporations Address: Financial Services Division, 1515 K Street, Suite 200 Sacramento CA 95814 Phone: (866) 275-2677 Fax: Regulatory Contact: , |
I hope the information below will help you. :) You are only obl
I hope the information below will help you. :)
You are only obligated to pay back the principal amount you borrowed from an unlicensed/illegal Internet Payday Lender.
[quote]What should you do?
Close your account asap, if you are unable to close your account, go into your bank and ask to speak with the Branch Manager, tell him/her you need a hard debit block placed on your account immediately! Explain that you are revoking ACH authorizations from unlicensed/illegal companies, and have learned these companies are notorious for ignoring revocation, therefore it is important to BLOCK any withdrawal attempts on your account to protect your interest. This is your privilege, do not accept no for an answer. The following link will provide you important information regarding closing accounts. CLICK HERE
What next?
AFTER your account is secure send each pdl (the unlicensed and illegal) an email similar to THIS (please scroll down to locate letter template). Tailor this letter to your needs, and try to write it with the same basic concept in your own words. You will need to research and locate email addresses/physical addresses if you don't already have them, I suggest that you type the name of the pdl (example: "oneclickcash address") in the search box in the upper right hand corner of this forum. You may also search for addresses HERE at the Better Business Bureau.
File complaints: Most of the time, you can file a complaint online with the following, I encourage you to follow through with doing so, you will need to search the Internet for your state Attorney General's website, however, here are links to file complaints for the FTC, Online complaints: Federal Trade Commission., and the BETTER BUSINESS BUREAU.
Keep in mind that you may not receive a response for days, or even weeks, or, you may receive harassing and threatening phone calls. I have found the best way to deal with this is not to respond or reply, simply hang up.
Side note: If you have paid an illegal/unlicensed payday lender above and beyond the principal amount you borrowed, it might be a good idea to demand a refund and a paid in full letter/receipt. You may or may not get one or both. It still doesn't hurt to include that tidbit in your letter. :)[/quote]
I sent them the generic letter stating I borrowed XX amount in p
I sent them the generic letter stating I borrowed XX amount in principal and I've paid XX amount back, it was much more than the principal (like you). I faxed the letter and stated they could only e-mail me. I received an e-mail a week or so later stating they agree it was paid in full and I owe no more. I didn't even ask for a refund, I was just happy with the PIF status.
Good luck,
Diane