Response From Z1P19.com
Date: Wed, 12/23/2009 - 08:49
Credit Granting Institution:
Northway Financial Corporation Ltd.
Level 8, Plaza Commercial Centre
Bisazza Street, Sliema SLM 1640, Malta
Loan Number: 32362611
Loan Repayment Date: December 11, 2009
Total Due as of December 23, 2009: $719.88
December 23, 2009
Dear
We are in receipt of your email dated December 9, 2009. Please be advised that we have ceased all
collection activities and all communication by telephone while this account is under investigation.
If you take a moment to review the attached loan agreement, you will see that Northway Financial
Corporation Ltd. is a Financial Institution licensed and regulated in accordance with the Financial
Services Directive of the European Union (EU). As such, the laws of the Republic of Malta (member
State of the European Union), not the state of Washington applies to its terms. We provided you with
this notice so that you would understand the terms of your loan.
We are prepared to offer a repayment arrangement in the amount of three (3) equal payments of
$200.00 as payment in full of your outstanding loan. This represents the $600.00 loan principle on your
outstanding loan. Once payment has been received, we will consider this account paid in full with no
further obligation.
The three (3) equal payments of $200.00 can be made via Western Union or Money Gram, and should
be received by March 5, 2010. We have included the payment information below for your reference.
MoneyGram Express Payment Western Union Quick Collect
Receive Code 4476 Code City NFUSA
Payable to NORTHWAY FINANCIAL Code State DE
Account 32362611 Payable to Northway Financial
City (Blank) Account 32362611
State (Blank)
Alternatively, you may send your payment via mail. Please address all checks to Northway Financial
Corporation Ltd. and forward all checks to our North American mail processor at:
200-15225 104 Avenue
Surrey, BC, Canada, V3R 6YB
Should you have any further questions, please feel free to contact our office with the information
provided below.
Sincerely:
Customer Support Department
Fax: 1-866-772-4556
Email: [email]supportresponse@zip19.com[/email]
Northway Financial Corporation Ltd., a Financial Institution licensed and regulated in accordance with the Financial Services
Directive of the European Union (EU), conducting business in and incorporated under the laws of the Republic of Malta (member
State of the European Union) and duly licensed by the Malta Financial Services Authority.
first off how much was borrowed,and how much in their fees was d
first off how much was borrowed,and how much in their fees was debited.if the amount in fees equals the principle then you owe no more.that line about you being governed by the laws of malta is a laugh.they are illegal as all get,and should be treated as such.
I looked up all the loans i recieved with them. I paid a total o
I looked up all the loans i recieved with them. I paid a total of $1939.00 in illegal fees. I owed them on this loan $600.00. So i responded and told them, that based on this, i have paid the loan back, and they still owe me a refund of $1339.00.
What did you tell them in your original email? I will be in defa
What did you tell them in your original email? I will be in default tomorrow and I need to know how to approach this company. Thanks
Quote: If you take a moment to review the attached loan agreeme
Quote:
If you take a moment to review the attached loan agreement, you will see that Northway Financial Corporation Ltd. is a Financial Institution licensed and regulated in accordance with the Financial Services Directive of the European Union (EU). As such, the laws of the Republic of Malta (member State of the European Union) |
It doesn't make any difference, they are ILLEGAL.
CLICK HERE to find out how to deal with illegal lenders.
This is how I would respond to their email!
Please note I am not a resident of Malta, have never prescribed to be a resident Malta and have no Malta presence, as such am not subject to the Malta laws you detail. THE END.
I got the same response from zip19. I replied stating that accor
I got the same response from zip19. I replied stating that according to my calculations they are the ones owing me money...and I never heard back from them.
It;s a template letter they send to everyone. My bf got the same letter and he never heard from them either. And they did not try to debit his account
yeah they have not responded back to me. Im sure they wont.
yeah they have not responded back to me. Im sure they wont.
These people think that they can scare us now with their "govern
These people think that they can scare us now with their "governed by the laws of XXXXX" what they don't understand is that there is strength in numbers and with all the people reading these daily we will win!
I got this same letter in the mail today. Should I respond or j
I got this same letter in the mail today. Should I respond or just let it go? I have paid back the princial amount in fees plus more.
I am in default with them as well and they are threatening me an
I am in default with them as well and they are threatening me and trying to call my boss. I called the attorney general in Kentucky and he said they were illegal. Did any of you sign the Wage Assignment, I did and that is what scares me.
I got the same type of letter from them. This was my response t
I got the same type of letter from them. This was my response to them.
Based on my calculations you owe me a refund. Please see paragraph from letter dated XXXXXX
Since you are not licensed in the state of Ohio, the legal amount that I owed to you was/is the principle amount only. I was able in the last year to obtain twenty-two (22) loans from your company totaling $10,270, which to date, I have paid $11,542.09. Of the amount paid, $1,922.09 was interest. The two current loans I have remaining with your company are for $350 & $300 totaling $650. I believe I am due a refund from your company of the excessive interest payments of $1,272.09. The refund check can be mailed to me at the following address: XXXXXXXXXXXXXXXXXXXXXXXx
Please note the laws for the state of Ohio, which I reside. You are required by law to obtain a license in this state to loan any funds. If you are indeed licensed in this state please send me a copy of your license.
Citation: Ohio Rev. Code Ann. 1321.35 et seq.
1321.36 Short term lender license required - out-of-state transactions.
(A) No person shall engage in the business of making short-term loans to a borrower in Ohio, or, in whole or in part, make, offer, or broker a loan, or assist a borrower in Ohio to obtain such a loan, without first having obtained a license from the superintendent of financial institutions under sections 1321.35 to 1321.48 of the Revised Code. No licensee shall make, offer, or broker a loan, or assist a borrower to obtain such a loan, when the borrower is not physically present in the licensee’s business location.
(B) No person not located in Ohio shall make a short-term loan to a borrower in Ohio from an office not located in Ohio. Nothing in this section prohibits a business not located or licensed in Ohio from lending funds to Ohio borrowers who physically visit the out-of-state office of the business and obtain the disbursement of loan funds at that location. No person shall make, offer, or broker a loan, or assist a borrower to obtain a loan, via the telephone, mail, or internet.
Effective Date: 2008 HB545 09-01-2008