1800899cash won't accept payment
Date: Sat, 07/18/2009 - 10:35
PREPAYMENT: You may prepay this loan at any time without penalty. If You prepay You may be entitled to a refund of the unearned Finance Charge. In addition, you may make a partial prepayment of any amount in increments of ten dollars ($10) on your outstanding loan balance, which will result in a reduction of interest you will pay over the life of the loan.
PAYDOWN: This loan is designed a ten payment closed-end installment loan. If You pay only the minimum payment for each scheduled payment date, your loan will be paid in full once You have paid the 10th, and final, installment. The minimum payment for each installment shall be determined by adding the finance charge due on your existing balance plus 10% of the original principal borrowed. You have the right to make additional payments at anytime as set forth above in the Section entitled "PREPAYMENT." To the extent such payments reduce the principal balance, the finance charge on succeeding payments will be reduced in proportion to such reduction in principal.
After I read that, he still tried to argue with me for a bit and told me that I could not make early payments. I refused to back down and told him the contract I signed said I could make extra payments. He finally agreed that according to the contract, I should be able to make extra payments. He said that he'd been working there over 3 years and to his knowledge, they couldn't accept early payments.
He said he would talk to his manager, and to call back Monday. I'm worried that the manager won't be willing to accept my payment either. If he doesn't, what would be the best thing to do? I don't want to pay hundreds of dollars in unnecessary interest. If I waited 2 weeks to make a payment, I'd be paying $54 in interest and only $30 in principle. I'd rather make a payment now and reduce the principle. I had also planned on making extra payments quite frequently, sometimes 2 or 3 times a week, and I don't want to deal with this problem every time.
early payments
This is a according to this written contract agreed upon. they are breaking the contract!
They state they would accept early /prepayments in the written contracts they are shady anyway!
call the bbb and attorney general if they don't comply. You have the right to pay them off early! They are just trying to make extra money off u! This per the written agreement and should have been handled the other day and not waited on!
prepayments and stall tactics with this company
reason 4 this is you want to catch them in a lie it state in the contract they will accept early payments. They are stalling u, They should of had the manager on the phone the other day!
Send the co. a certified letter asking them of they accept prepayments against their acct? if they says yes in the letter here is your amo.
call the guy back see what he states if he says yes we do then your ok! if not you have a confliction of contract!
ask him if he would send that 2 u in writting!
if not state you will be speaking to an attorney he should change his toon.
you have a letter from the company and copy of the contract stating that they do accept and rep saying no they don't
This business is not a BBB Accredited Business. BBB Rating
This business is not a BBB Accredited Business.
BBB Rating
Based on BBB files, this business has a BBB Rating of F
Reasons for this F rating include:
BBB does not have sufficient information to determine how long this business has been operating
7 complaints filed against business
Failure to respond to 4 complaints filed against business
BBB does not have sufficient background information on this business
Business Contact & Profile
Business Name: 1800899cash.com
Business Address:
p.o.box 099
Claymont, DE 19703
Principal: Jay Jenkins
Phone Number: (800) 959-6680
BBB Accreditation: This business is not a BBB Accredited Business
Type of Business: LOANS
Business Management
Mr. Jay Jenkins
Customer Complaint History
BBB processed a total of 7 complaint(s) about this business in the last 36 months, our standard reporting period. Of the total 7 complaint(s) closed in the last 36 months, 4 were closed in the last 12 months.
These complaints concerned:
4 regarding Billing or Collection Issues
1 regarding Contract Disputes
2 regarding Refund Or Exchange Issues
Call the Regulator- (your state?) Division of Fiance, Consumer C
Call the Regulator- (your state?) Division of Fiance, Consumer Credit Section.
I just posted today a full list of State Regulators complete with all their contact information. Find your State.... and contact the Regulator.
Print a copy of your original contract!!! Call your states attorney general.
Thanks for the help. I just called back and spoke to someone who
Thanks for the help. I just called back and spoke to someone who identified himself as the manager. He, too, refused to accept my payment. He said he's unable to accept a payment before my due date because it would "mess up my per diem" even after I pointed out the contract. I guess it's time to start filing complaints. I'm contemplating revoking the ACH agreement. I fully intend to pay back the principal but I don't think I should have to pay interest on payments that they've refused.
have you checked to see if this company is licensed and legal to
have you checked to see if this company is licensed and legal to lend in your state?
With them refusing to accept partial payment after it is clearly defined and states in their own contract about "prepayments" and "paydown" makes me think they are not legal!!!
I would call:
Business Management: Jay Jenkins (1800899cash.com)
Phone Number: (800) 959-6680
And talk to him directly about this matter.....cut out the middleman, and go straight to the top!
If he is unwilling to work with you, then I would revoke the ach agreement. But dont tell him you are going to revoke before you actually do it!
After making the one last attempt by talking to Jay Jenkins, then I would file all the complaints.
Fatcat, I live in SC, and unfortunately, companies don't have
Fatcat,
I live in SC, and unfortunately, companies don't have to be licensed here as long as their licensed in their own state. Thank you for the phone number. I'll give him a call tomorrow.
I was also wondering if anyone knew anything about mandatory arbitration agreements. After looking over my contract again, I realized that I was tied into mandatory arbitration with National Arbitration Forum for any and all disputes. After going to the National Arbitration Forum and doing research online, I discovered that NAF has stopped taking Consumer Arbitration Claims. Does this invalidate that part of the contract? How can I be held to mandatory arbitration if that option is no longer available to me? I'm trying to get this taken care of as quickly and as easily as possible, but I'm not opposed to filing a lawsuit, if necessary.
No I dont know about mandatory arbitration agreements. But
No I dont know about mandatory arbitration agreements.
But again is appears they are violating their own contract once again.
lol you might try calling them and simply asking which part of their contract is for real.
You need to file complaints with the attorney general, and BBB.
Oops forgot to login....that last one was me, fatcat.
Oops forgot to login....that last one was me, fatcat.
I just got off the phone with these people after a 30 minute arg
I just got off the phone with these people after a 30 minute argument with someone in their recovery department. I agreed to pay only the principal balance left, about 160.00 and that???s principal only. He said that was fine and I asked for an address to send a money order. This was the only way I would do it. He stated he would not allow me to dictate the terms and that I was bound by the agreement I signed. I again had to remind him that the agreement is not valid per Colorado Law. See below
Danny,
No, they are not licensed with our office so you should file a complaint. Regarding a Colorado resident, an agreement by a consumer is invalid with respect to consumer credit transactions, or modifications thereof, to which this Uniform Consumer Credit Code applies when such agreement provides that the law of another state shall apply, Section 5-1-201(8), C.R.S.
If possible, please send copies of your bank statement showing where they debited your account as well. If a lender doesn't respond we may investigate further to find out who is behind the bank account receiving the funds.
Thanks, Jodie
Uniform Consumer Credit Code
Colorado Office of the Attorney General
1525 Sherman Street - 5th Floor
Denver, CO 80203
Ph: (303) 866-4494 - Complaints/Notifications
Ph: (303) 866-4527 - Licensing
Fax: (303) 866-5474
[email]uccc@state.co.us[/email]
In their agreement it clearly states I am bound by Delaware Law which clearly makes my agreement invalid. However, I still offered to pay back what I borrowed but only by mail and money order but he refused to provide me with an address. He ended up hanging up on me.
My advice is check with your state law and contact your attorney general???s office. This will dictate what you have to pay back. Going forward, under any circumstance, never take out a payday loan or any short term loan for an internet lender out of state. If you have to get a short term loan, do it from a local business who will lend money to you in accordance with your state laws.
Look up Uniform Commercial Code 3-603 which deals with payment t
Look up Uniform Commercial Code 3-603 which deals with payment tender. You can find it easily on BING.
(b) If tender of payment of an obligation to pay an [URL="http://www.law.cornell.edu/ucc/3/article3.htm#Instrument"]instrument[/URL] is made to a [URL="http://www.law.cornell.edu/ucc/3/article3.htm#Personentitledtoenforce"]person entitled to enforce[/URL] the instrument and the tender is refused, there is discharge, to the extent of the amount of the tender, of the obligation of an [URL="http://www.law.cornell.edu/ucc/3/article3.htm#Indorser"]indorser[/URL] or accommodation [URL="http://www.law.cornell.edu/ucc/3/article3.htm#Party"]party[/URL] having a right of recourse with respect to the obligation to which the tender relates
I take this to mean that if you send a money order, check, etc. and they refuse it, then your obligation is discharged.
Anyone else agree? I used this with Eastside Lenders/Smith,Haines,Watson when they wouldn't accept payment.
[QUOTE=aubrey;499852]Look up Uniform Commercial Code 3-603 which
[QUOTE=aubrey;499852]Look up Uniform Commercial Code 3-603 which deals with payment tender. You can find it easily on BING.
(b) If tender of payment of an obligation to pay an [URL="http://www.law.cornell.edu/ucc/3/article3.htm#Instrument"]instrument[/URL] is made to a [URL="http://www.law.cornell.edu/ucc/3/article3.htm#Personentitledtoenforce"]person entitled to enforce[/URL] the instrument and the tender is refused, there is discharge, to the extent of the amount of the tender, of the obligation of an [URL="http://www.law.cornell.edu/ucc/3/article3.htm#Indorser"]indorser[/URL] or accommodation [URL="http://www.law.cornell.edu/ucc/3/article3.htm#Party"]party[/URL] having a right of recourse with respect to the obligation to which the tender relates
I take this to mean that if you send a money order, check, etc. and they refuse it, then your obligation is discharged.
Anyone else agree? I used this with Eastside Lenders/Smith,Haines,Watson when they wouldn't accept payment.[/QUOTE]
it means exactly that.you'll notice only bottomfeedeing slime refuse payments.they want your either bank info or a check to get your routing#.a legit creditor,or collector never refuses any form of payment.
I dealt with these people too earlier in the year. I had no choi
I dealt with these people too earlier in the year. I had no choice because i needed money fast and ran out of options. I paid 2 payments and when I wanted to pay off the PB, they made me pay the whole thing. I then started getting phone calls from some scuzzbag calling himself a collector for some years ago web site that I owed money too. I never payed for website uses. I did research and found that group to be scams for Nigerian money laundering to Al-Quida. Called the FBI, they haven't called since. Getting abck to 899cash, only THEY had the information I gave to them at loan origination that the collector knew about so they seem tied somehow. I haven't heard from my State Gov't (MD). I am going to check again. I mean paying off the PB is paying off the PB, they gave some BS about the interest formula and crap. You don't pay interest when your paying off the PB.
UPDATE to my previous post. MD State responded right away with m
UPDATE to my previous post. MD State responded right away with my follow up, they never got my original request. 899cash is not licensed in MD and therefor the contract is void. ANY Collection attempts on this type of agreement (Pay Day) are illegal in MD, can't answer for another state. the MD State AG has gone after collection agents for this type of debt and they are almost backlogged. I HIGHLY recommend if you can avoid this mess, do so. I wish you all the best of luck.