Cashnetusa payment arrangement problem
Date: Fri, 12/18/2009 - 18:45
On 12/14, I emailed cashnetusa concerning a 500. loan that was due in full (627.40) on 12/18 (I had exhausted all 4 extensions). I received an email from support@cashnetusa offering payment arrangements of 313.70 on 12/18 and 313.70 on 12/31. I replied--TWICE--to the email stating, as requested, that the terms were acceptable.
Predictably, today cashnetusa attempted to debit the full loan amount. My credit union charged me a 30. ACH return fee. I called cashnetusa collections; the woman I spoke with told me that I would have to fax a statement from the credit union showing the transaction and the fees charged before she could discuss any payment arrangements, and that a supervisor would have to look at it. The credit union gave me a signed statement showing the charge, but told me that they could not give me any paperwork actually showing that the charge was for the denied cashnetusa transaction. I faxed the statement, the payment arrangement offer email, and one of my replies to the company.
I should have sufficient funds for the full loan amount by the middle of next week. I fear repeated ACH return fees in the meantime, or exorbitant fees above the actual loan amount. The credit union did not seem willing to block all ACH debits and said that closing/reopening my account would not prevent ACH transactions/return fees.
Does cashnetusa typically send fake payment arrangement offers without any basis in reality? Is it likely that they will try to withdraw more than 627.40, since the account is now "in collections"? Thanks.
Predictably, today cashnetusa attempted to debit the full loan amount. My credit union charged me a 30. ACH return fee. I called cashnetusa collections; the woman I spoke with told me that I would have to fax a statement from the credit union showing the transaction and the fees charged before she could discuss any payment arrangements, and that a supervisor would have to look at it. The credit union gave me a signed statement showing the charge, but told me that they could not give me any paperwork actually showing that the charge was for the denied cashnetusa transaction. I faxed the statement, the payment arrangement offer email, and one of my replies to the company.
I should have sufficient funds for the full loan amount by the middle of next week. I fear repeated ACH return fees in the meantime, or exorbitant fees above the actual loan amount. The credit union did not seem willing to block all ACH debits and said that closing/reopening my account would not prevent ACH transactions/return fees.
Does cashnetusa typically send fake payment arrangement offers without any basis in reality? Is it likely that they will try to withdraw more than 627.40, since the account is now "in collections"? Thanks.
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If you use the search box you can read many peoples' experiences with CashNet.
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