question about zip 19

Date: Wed, 02/11/2009 - 19:49

Submitted by anonymous
on Wed, 02/11/2009 - 19:49

Posts: 202330 Credits: [Donate]

Total Replies: 6

Hello, I live in Missouri and have taken all actions against zip 19 closed my acct, revoked ach,sent letter to zip,contacted my state AG. Today I received an email from zip that states they have been contacted by the AG office and are willing to make a settlement offer which they would let me set up a payment plan of 200.00 per month x 6 for repayment of 1200.00 by 6/5/09. My question is the MO state laws states the max loan amount is 500.00 I did borrow the 1200.00. I am willing to repay however 200.00 per month is not in my budget since I am repaying some legal PDL, do I have to accept this offer? can I make a counter offer with a payment I can make and live with. I thank everyone for their help and support. One month ago I didn't see an end, but I have hope now!

I have found some good resource in this forum. They are given be

I have found some good resource in this forum. They are given below: -
Zip19 - Unlicensed/illegal in the U.S.

Zip19.com- Too many complaints against them

Zip19 is part of Northway Financial

Zip19 has threatened to contact my employer and human resources dept. Help!

lrhall41

Submitted by phoenix on Wed, 02/11/2009 - 20:39

( Posts: 1445 | Credits: )

I sent a certified RRR letter to them

and it was returned "address unknown". I've faxed the same letter to them, contacted my AG and my state's DFI (Department of Financial Institutions) with a very clear description of how much I've paid in finance fees over time.

I would contact your state AG and request information on what they may have discussed with zip19. All you have is zip19's word that they were contacted by the AG - right?

Don't accept any payment from them until you know all the details, and even then my personal feeling is that they are illegal lenders in your state (and most states). It's been three months since I sent communication to them and I've had only one call. No collection activity, no hits on my credit report.

There is not much they can do legally if they are illegal lenders in your state.

good luck to you.

lrhall41

Submitted by on Thu, 02/12/2009 - 01:49

( Posts: | Credits: )

I very much doubt that Zip has been in contact with the MO attor

I very much doubt that Zip has been in contact with the MO attorney general. That is a lie.

They are illegal and you only owe them the principal. Do NOT pay them anything over that. Stick to your guns.

lrhall41

Submitted by nohiogal on Thu, 02/12/2009 - 02:32

( Posts: 2582 | Credits: )

zip 19

I owe zip 19 1,200.00 that is the priciple. They want me to pay 200.00 X 6 payments by 6/9/09. I live in Missouri. The are not legal of course. Missouri law states the max loan for legal lenders is 500.00. I can't afford what zip 19 wants monthly. I did contact my state AG, that is why they are willing to settle for the principle amount. I need to know can I pay monthly what I can afford to pay back this loan.
Thank You

lrhall41

Submitted by on Thu, 02/12/2009 - 16:55

( Posts: | Credits: )

To deal with illegal payday lenders you may follow the steps men

To deal with illegal payday lenders you may follow the steps mentioned in the following page: -
Dealing With Illegal Payday Lenders

lrhall41

Submitted by phoenix on Thu, 02/12/2009 - 19:50

( Posts: 1445 | Credits: )

Pay them ONLY what you can afford per month and not a penny more

Pay them ONLY what you can afford per month and not a penny more, Zip is located in Malta, they can't sue you, so they should be happy they are getting anything at all. You are doing the right thing by paying them the principal amount. You are calling the shots now, don't over extend yourself.

lrhall41

Submitted by Shazzers on Thu, 02/12/2009 - 20:05

( Posts: 17344 | Credits: )