What my next step should be?
Date: Thu, 02/12/2009 - 13:28
Ok I have four payday loan companies that are driving me crazy.
First Quickest-Cash-Advance (MTE Financial Services). Orginally I took out a loan for 300. I've paid 535. I've sent my revocation letter and they responded with;
RE: Your Complaint
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, and you neglected to change the state of "Connecticut" to your own state in one of the paragraphs. 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 many times in the past and have applied on many 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 $200.00 that remains due on your principal balance, after waiving your $60.00 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 acknowledgment/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 replied and informed them that I never had any intentions on not repaying if indeed I owed money. I have paid 535 my loan is PIF. Well they sent me to collections. Company name is Universal Debt Recovery, LLC. They sent me a letter on Feb 03, 2009 demanding full payment amount of 428. I have thirty-day period to respond. What do I do? What do I respond with I have paid 535 and have my bank statements to prove it.
Second Company
NationWideCash
I've taken a loan out with them for 800 and already paid 967.50. I sent them my revocation letter as well. Twice even once just in general. The second time to a Mr. Parker who contacted me by phone after I requested to only be contacted by email or mail. He called me back left a message stating that since I've take pervious loans with there company I fully understand what the requirements were and my letter was useless. They continue to call and I recieved an email on 2/09/09 from Taheerah Talib stating;
You have chosen to ignore all of our previous communication attempts to contact you, regarding the debt referred to above.
Our fraud prevention unit is currently conducted a thorough investigation of your file. Nationwide Cash captures the IP addresses for all internet transactions, and will trace the source of your application. If you used your employer's computer to conduct this transaction, your employer may be contacted as part of any ongoing investigation.
Please be advised that, Nationwide cash will take any necessary steps to pursue any lawful actions to recover its funds. This includes authorization to seek civil and if appropriate, criminal penalties. Failure to respond to this notice upon receipt will leave us no other alternative but to turn your delinquent file over to our in house attorney to seek legal action against you to recover our funds.
This impending action may still be avoided by contacting Nationwidecash at 1-877-711-1199. Please contact this office upon receipt of this notice to make payment arrangements by ACH, Credit Card / Debit Card and or Money gram. Please note that failure to respond will result in immediate legal action to be taken against you.
I do not want them contacting my job and I have already paid 967.50 from my 800 loan. I have not ignored contacting them. I have faxed over my letter twice even. What do I respond with? and again i have my bank statements to prove my payments.
Third company
MyCashNow
I have done the same thing with this company sent my revocation letter and all. The only difference with this payday loan is I do still owe. I took out a loan for 300. I have already paid 102.94. My remaining balance is 197.06. I stated on my letter that I have all the intentions on paying back my remaing balance and would be sending at least 50 dollar money orders until PIF. They emailed me with;
FINAL NOTICE
YOUR LOAN WITH MyCashNow IS SERIOUSLY DELINQUENT. IF YOU CONTINUE TO IGNORE THIS DEBT, WE WILL HAVE NO CHOICE BUT TO REFER THIS ACCOUNT OVER FOR FURTHER COLLECTIONS. This letter serves as notice that this is a payday loan, and service charges are accrued each day, until the account is paid in full.
You have been given ample opportunity to pay this loan. In an effort to maintain our commitment to assisting those in immediate financial need, MyCashNow extends this ONE-TIME opportunity to resolve your $ 436.72 debt with our company by paying a settlement amount of $ 497.06. Any money received less than the settlement amount in full within 3 days or calling this office with acceptable payment arrangements will not hold your account in our office. Failure to pay this settlement amount will result in your debt being reported to the Credit Bureau, which will show for a minimum of 7 years, and Teletrack Systems. If you have paid your account in full, please disregard this notice.
Please call our toll free number, 866-645-1661, if you have any questions concerning this notice. Office hours are from 9am to 6pm Eastern Standard Time. Your failure to respond to this final notice will result in the account being turned over to another source for additional collection efforts in order to protect our interest in this matter. THIS IS AN ATTEMPT TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.
YOUR LOAN WITH MyCashNow IS SERIOUSLY DELINQUENT. IF YOU CONTINUE TO IGNORE THIS DEBT, WE WILL HAVE NO CHOICE BUT TO REFER THIS ACCOUNT OVER FOR FURTHER COLLECTIONS. This letter serves as notice that this is a payday loan, and service charges are accrued each day, until the account is paid in full.
You have been given ample opportunity to pay this loan. In an effort to maintain our commitment to assisting those in immediate financial need, MyCashNow extends this ONE-TIME opportunity to resolve your $ 436.72 debt with our company by paying a settlement amount of $ 497.06. Any money received less than the settlement amount in full within 3 days or calling this office with acceptable payment arrangements will not hold your account in our office. Failure to pay this settlement amount will result in your debt being reported to the Credit Bureau, which will show for a minimum of 7 years, and Teletrack Systems. If you have paid your account in full, please disregard this notice.
Please call our toll free number, 866-645-1661, if you have any questions concerning this notice. Office hours are from 9am to 6pm Eastern Standard Time. Your failure to respond to this final notice will result in the account being turned over to another source for additional collection efforts in order to protect our interest in this matter. THIS IS AN ATTEMPT TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.
What do I respond with?
Last but not least
Collection Agency called Phoenix Debt management
Phone number 866-504-7548. They continue to call but I don't know what payday loan company they represent. Not sure if I should call back or send them my revocation letter. What do I do here.
I apologize for such a long post but I do have an idea on what I should do. I just have fear of doing it wrong which is where I need your help. I will really appreciate some sort of help. If someone can email me [EMAIL="Cristy.lm@hotmail.com"]Cristy.lm@hotmail.com[/EMAIL] or reply to this post. Please Please Please.
Thanks.
First Quickest-Cash-Advance (MTE Financial Services). Orginally I took out a loan for 300. I've paid 535. I've sent my revocation letter and they responded with;
RE: Your Complaint
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, and you neglected to change the state of "Connecticut" to your own state in one of the paragraphs. 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 many times in the past and have applied on many 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 $200.00 that remains due on your principal balance, after waiving your $60.00 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 acknowledgment/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 replied and informed them that I never had any intentions on not repaying if indeed I owed money. I have paid 535 my loan is PIF. Well they sent me to collections. Company name is Universal Debt Recovery, LLC. They sent me a letter on Feb 03, 2009 demanding full payment amount of 428. I have thirty-day period to respond. What do I do? What do I respond with I have paid 535 and have my bank statements to prove it.
Second Company
NationWideCash
I've taken a loan out with them for 800 and already paid 967.50. I sent them my revocation letter as well. Twice even once just in general. The second time to a Mr. Parker who contacted me by phone after I requested to only be contacted by email or mail. He called me back left a message stating that since I've take pervious loans with there company I fully understand what the requirements were and my letter was useless. They continue to call and I recieved an email on 2/09/09 from Taheerah Talib stating;
You have chosen to ignore all of our previous communication attempts to contact you, regarding the debt referred to above.
Our fraud prevention unit is currently conducted a thorough investigation of your file. Nationwide Cash captures the IP addresses for all internet transactions, and will trace the source of your application. If you used your employer's computer to conduct this transaction, your employer may be contacted as part of any ongoing investigation.
Please be advised that, Nationwide cash will take any necessary steps to pursue any lawful actions to recover its funds. This includes authorization to seek civil and if appropriate, criminal penalties. Failure to respond to this notice upon receipt will leave us no other alternative but to turn your delinquent file over to our in house attorney to seek legal action against you to recover our funds.
This impending action may still be avoided by contacting Nationwidecash at 1-877-711-1199. Please contact this office upon receipt of this notice to make payment arrangements by ACH, Credit Card / Debit Card and or Money gram. Please note that failure to respond will result in immediate legal action to be taken against you.
I do not want them contacting my job and I have already paid 967.50 from my 800 loan. I have not ignored contacting them. I have faxed over my letter twice even. What do I respond with? and again i have my bank statements to prove my payments.
Third company
MyCashNow
I have done the same thing with this company sent my revocation letter and all. The only difference with this payday loan is I do still owe. I took out a loan for 300. I have already paid 102.94. My remaining balance is 197.06. I stated on my letter that I have all the intentions on paying back my remaing balance and would be sending at least 50 dollar money orders until PIF. They emailed me with;
FINAL NOTICE
YOUR LOAN WITH MyCashNow IS SERIOUSLY DELINQUENT. IF YOU CONTINUE TO IGNORE THIS DEBT, WE WILL HAVE NO CHOICE BUT TO REFER THIS ACCOUNT OVER FOR FURTHER COLLECTIONS. This letter serves as notice that this is a payday loan, and service charges are accrued each day, until the account is paid in full.
You have been given ample opportunity to pay this loan. In an effort to maintain our commitment to assisting those in immediate financial need, MyCashNow extends this ONE-TIME opportunity to resolve your $ 436.72 debt with our company by paying a settlement amount of $ 497.06. Any money received less than the settlement amount in full within 3 days or calling this office with acceptable payment arrangements will not hold your account in our office. Failure to pay this settlement amount will result in your debt being reported to the Credit Bureau, which will show for a minimum of 7 years, and Teletrack Systems. If you have paid your account in full, please disregard this notice.
Please call our toll free number, 866-645-1661, if you have any questions concerning this notice. Office hours are from 9am to 6pm Eastern Standard Time. Your failure to respond to this final notice will result in the account being turned over to another source for additional collection efforts in order to protect our interest in this matter. THIS IS AN ATTEMPT TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.
YOUR LOAN WITH MyCashNow IS SERIOUSLY DELINQUENT. IF YOU CONTINUE TO IGNORE THIS DEBT, WE WILL HAVE NO CHOICE BUT TO REFER THIS ACCOUNT OVER FOR FURTHER COLLECTIONS. This letter serves as notice that this is a payday loan, and service charges are accrued each day, until the account is paid in full.
You have been given ample opportunity to pay this loan. In an effort to maintain our commitment to assisting those in immediate financial need, MyCashNow extends this ONE-TIME opportunity to resolve your $ 436.72 debt with our company by paying a settlement amount of $ 497.06. Any money received less than the settlement amount in full within 3 days or calling this office with acceptable payment arrangements will not hold your account in our office. Failure to pay this settlement amount will result in your debt being reported to the Credit Bureau, which will show for a minimum of 7 years, and Teletrack Systems. If you have paid your account in full, please disregard this notice.
Please call our toll free number, 866-645-1661, if you have any questions concerning this notice. Office hours are from 9am to 6pm Eastern Standard Time. Your failure to respond to this final notice will result in the account being turned over to another source for additional collection efforts in order to protect our interest in this matter. THIS IS AN ATTEMPT TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.
What do I respond with?
Last but not least
Collection Agency called Phoenix Debt management
Phone number 866-504-7548. They continue to call but I don't know what payday loan company they represent. Not sure if I should call back or send them my revocation letter. What do I do here.
I apologize for such a long post but I do have an idea on what I should do. I just have fear of doing it wrong which is where I need your help. I will really appreciate some sort of help. If someone can email me [EMAIL="Cristy.lm@hotmail.com"]Cristy.lm@hotmail.com[/EMAIL] or reply to this post. Please Please Please.
Thanks.
reply
then you file AG,and FTC complaints against these pdl's and the bottomfeeder CA'S that are contacting you.even the one you still owe.you sent them letters and they respond like that.file the complaints and re-send your letters.do not let this ipdl slime bully you.except for mycashnow,you owe nothing to these others.in fact they owe you a refund on these.
The number that My Cash Now provided is the number to Credit Pro
The number that My Cash Now provided is the number to Credit Protection Depot. I will write back and asked for an address and let them know that you are not trying to avoid repaying a debt. Credit Protection Depot will have your wire money somewhere in Nevada. I have already filed a complaint with the Nevada Division of Financial Institutions after they informed me that Credit Protection Depot is not licensed in the State of Nevada. PayDay Loan Operations have to honor your State's laws, rather you receive it from the internet or not. Illinois Attorney General has already filed a case against Payday Loan Yes for violating Illinois Laws. Don't let these company bully you. Write out a proposal and send no money until they agree in writing with your payment arrangement. Since they lend out illegal loans, you call the shots not them. Keep copies of your proposal requests.
Do not be intimidated by these CA's and Illegal companies. Stay
Do not be intimidated by these CA's and Illegal companies. Stay on course and you will be fine. Do not give in to them.
First PDL Quote:I replied and informed them that I never had an
First PDL
Quote:
I replied and informed them that I never had any intentions on not repaying if indeed I owed money. I have paid 535 my loan is PIF. Well they sent me to collections. Company name is Universal Debt Recovery, LLC. They sent me a letter on Feb 03, 2009 demanding full payment amount of 428. I have thirty-day period to respond. What do I do? What do I respond with I have paid 535 and have my bank statements to prove it. |
Reply to them that according to the laws of your state you have completed your legal financial re-payment of the loan which is the principle amount of "X" and you are not going to be making any arrangements as you are PIF.
Send the response to the PDL and Cease and Desist letter to the collection agency.
That response was nothing but a canned long winded form letter trying to intimidate you.
Second PDL
Quote:
I do not want them contacting my job and I have already paid 967.50 from my 800 loan. I have not ignored contacting them. I have faxed over my letter twice even. What do I respond with? and again i have my bank statements to prove my payments. |
The same thing with these idiots. Send them a new letter like for the one above. They can not place any legal action on you nor can they file a civil suit since they are illegal. That IP capture stuff is crap.
If you are worried about phone calls at work then I would go to your boss or HR person and tell them you are victim of fraud, which is true. Let them know you are working with your bank and your account is closed but that you have been receiving harrassing calls from these illegal people. That way if they do call it can be explained away.
Third PDL
Quote:
What do I respond with? |
Again same thing but state you are willing to pay the legal amount you owe which is "X". Ask for a address that you can send your money order.
Remember that they are used to this sort of thing. They respond with these long canned responses in order to create fear and intimidate you. You are in control now, NOT them. They are illegal and unlicensed and they know it.
Collection Agency
Quote:
Last but not least Collection Agency called Phoenix Debt management Phone number 866-504-7548. They continue to call but I don't know what paydayloan company they represent. Not sure if I should call back or send them my revocation letter. What do I do here. |
Send them a cease and desist letter.
PHOENIX debt management, LLC
7007 NE PARVIN ROAD,
KANSAS CITY, MO 64117
They are collection agency for illegal PDLs, go figure huh? An illegal PDL using an illegal collection agency. Again, more scare tactics.
Stick to your guns. As long as your bank account is secure or closed you are doing fine and you can get through this.
