Mypaydayloan.com Help
Date: Tue, 02/23/2010 - 06:52
I sent a ACH revocation letter to mypaydayloan.com a few times, then eventually they came back with this. Is there any validity to any of this? Any advice on what I should do now? I am in NJ. Thanks.
"In acknowledgment to the letter we received by email, on Friday, February 19, 2010, we would like to clarify the issue pertaining to the transaction you originated with our organization.
All correspondence from Mypaydayloan.com is copyrighted property and you had to consent to this in order to even apply.
Specifically, the website states:
"Except where expressly provided otherwise herein, all emails, comments, feedback, information or materials submitted to Mypaydayloan.com through or in association with this web site ("Submissions") shall be considered Mypaydayloan.com's copyrighted property. By providing such Submissions to Mypaydayloan.com, you agree to assign to Mypaydayloan.com all worldwide rights, title and interest in the copyrights and other intellectual propertyrights to the Submissions."
Any publication of such info is in direct violation and you will be pursued vigorously by our legal counsel including severe financial penalties for publishing copyrighted confidential information. You can see such disclosure at the beginning of our site after your email has been validated and before you proceed with the application.
In regards to contract venue, you were required to consent to ???avail yourself to Costa Rican law??? which you did willingly and unsolicited. Had you not agreed to that you would not have received the advance.
Specifically, the contract states:
"GOVERNING LAW: Both this agreement and the application is considered to be executed at our offices in San Jose, Costa Rica, and this transaction and agreement with us shall be governed by, construed, and enforced solely in accordance with the internal laws of Costa Rica."
In addition, not only did you avail yourself to Costa Rican law and agreed to be governed by it, independent US case law also supports contract venue, even had you not agreed in advance to such venue, which you did. Jurisdiction over commercial activities had been proven to be based on a "sliding scale" determined by where the preponderance of activity has occurred. You are dealing with an unsolicited transaction to a Costa Rican company with servers, offices, employees, and all other important elements of the transaction taking place there, including contract venue rather than your state of New Jersey, where nothing has taken place. Please refer to the case of Zippo Manufacturing Company vs. Zippo dot com, Inc. 952F Supp 1119,1124 (W.D. Pa. 1997).
Furthermore, specific contract venue law even provides more clear-cut evidence pertaining to the controlling venue for a contract. The formal validity of a contract is to be determined by the "lex loci celebrationis" which is the law of the place where a contract is made. The Hogue-Kellog principle applies that a contract is deemed to be executed where the final act is done
which is necessary to make it binding. See Hogue-Kellog Co. Inc., v G.L. Webster Canning Co., Inc. 22 F3rd 384, 385 (4th Cir.1927). This transaction was not binding until reviewed and approved by MyPaydayLoan.com, once we received all information from you to make a decision to enter into the agreement. Hence, the final act to make the transaction binding was in our
jurisdiction, Costa Rica, not yours.
Lastly, any comment about specific interest rate caps based on your state would not apply anyway since this was not a loan in the first place. You engaged in a check advance agreement with us, not a loan. There are important differences which are a benefit to you and should be clarified. You were charged a fee per $100 dollars advanced. Based on the fact that it is a fee and not interest there is no "accrue" element to this transaction. When you defaulted you were not charged more money based on the time the advance is still outstanding (beyond your initial late fee and NSF fee, if applicable). In addition, the second important function differentiating this transaction as a fee instead of interest is there is no compounding. Any unpaid fees under an interest scenario would have a compounding component where any unpaid charges would be included in the "interest" calculation and added to the unpaid balance for purposes of determining the total amount owed. This is an important difference since there is no compounding of "interest" on any unpaid balances with our transaction. As such, usury would not govern
this transaction since it is a fee. This principle is no different than when your bank charges
you an overdraft fee to cover a check where there are not enough funds in the account to cover the check. You were advanced funds based on your next check from your employer, so whether that was 5 days away or 20, the fee is the same. There was no interest charged and laws governing interest are not applicable.
Hopefully, instead of trying to change the rules that governed the transaction after you received your advance from us because it suits you, you will honor what you already agreed to pay whether you paid attention or not. You need to satisfy your obligation in full, in order to avoid further collection activities and penalties. Your threats have been sent to legal counsel for review, and depending on your further actions, they will determine your accountability and how they will proceed against you and your account.
I can offer a payment plan for you to satisfy the balance of $810.32. We will need biweekly payments of at least $200, until the balance is paid in full. Or, you may submit one payment of $550 to satisfy the account in full. Your choices for payment method are as follows: MoneyGram, PayPal, or Credit Card, (all of these options have fees associated with them).You will need to accept one of these offers by Thursday, February 24, 2010, in order to properly set up your account.
Please govern yourself accordingly."
"In acknowledgment to the letter we received by email, on Friday, February 19, 2010, we would like to clarify the issue pertaining to the transaction you originated with our organization.
All correspondence from Mypaydayloan.com is copyrighted property and you had to consent to this in order to even apply.
Specifically, the website states:
"Except where expressly provided otherwise herein, all emails, comments, feedback, information or materials submitted to Mypaydayloan.com through or in association with this web site ("Submissions") shall be considered Mypaydayloan.com's copyrighted property. By providing such Submissions to Mypaydayloan.com, you agree to assign to Mypaydayloan.com all worldwide rights, title and interest in the copyrights and other intellectual propertyrights to the Submissions."
Any publication of such info is in direct violation and you will be pursued vigorously by our legal counsel including severe financial penalties for publishing copyrighted confidential information. You can see such disclosure at the beginning of our site after your email has been validated and before you proceed with the application.
In regards to contract venue, you were required to consent to ???avail yourself to Costa Rican law??? which you did willingly and unsolicited. Had you not agreed to that you would not have received the advance.
Specifically, the contract states:
"GOVERNING LAW: Both this agreement and the application is considered to be executed at our offices in San Jose, Costa Rica, and this transaction and agreement with us shall be governed by, construed, and enforced solely in accordance with the internal laws of Costa Rica."
In addition, not only did you avail yourself to Costa Rican law and agreed to be governed by it, independent US case law also supports contract venue, even had you not agreed in advance to such venue, which you did. Jurisdiction over commercial activities had been proven to be based on a "sliding scale" determined by where the preponderance of activity has occurred. You are dealing with an unsolicited transaction to a Costa Rican company with servers, offices, employees, and all other important elements of the transaction taking place there, including contract venue rather than your state of New Jersey, where nothing has taken place. Please refer to the case of Zippo Manufacturing Company vs. Zippo dot com, Inc. 952F Supp 1119,1124 (W.D. Pa. 1997).
Furthermore, specific contract venue law even provides more clear-cut evidence pertaining to the controlling venue for a contract. The formal validity of a contract is to be determined by the "lex loci celebrationis" which is the law of the place where a contract is made. The Hogue-Kellog principle applies that a contract is deemed to be executed where the final act is done
which is necessary to make it binding. See Hogue-Kellog Co. Inc., v G.L. Webster Canning Co., Inc. 22 F3rd 384, 385 (4th Cir.1927). This transaction was not binding until reviewed and approved by MyPaydayLoan.com, once we received all information from you to make a decision to enter into the agreement. Hence, the final act to make the transaction binding was in our
jurisdiction, Costa Rica, not yours.
Lastly, any comment about specific interest rate caps based on your state would not apply anyway since this was not a loan in the first place. You engaged in a check advance agreement with us, not a loan. There are important differences which are a benefit to you and should be clarified. You were charged a fee per $100 dollars advanced. Based on the fact that it is a fee and not interest there is no "accrue" element to this transaction. When you defaulted you were not charged more money based on the time the advance is still outstanding (beyond your initial late fee and NSF fee, if applicable). In addition, the second important function differentiating this transaction as a fee instead of interest is there is no compounding. Any unpaid fees under an interest scenario would have a compounding component where any unpaid charges would be included in the "interest" calculation and added to the unpaid balance for purposes of determining the total amount owed. This is an important difference since there is no compounding of "interest" on any unpaid balances with our transaction. As such, usury would not govern
this transaction since it is a fee. This principle is no different than when your bank charges
you an overdraft fee to cover a check where there are not enough funds in the account to cover the check. You were advanced funds based on your next check from your employer, so whether that was 5 days away or 20, the fee is the same. There was no interest charged and laws governing interest are not applicable.
Hopefully, instead of trying to change the rules that governed the transaction after you received your advance from us because it suits you, you will honor what you already agreed to pay whether you paid attention or not. You need to satisfy your obligation in full, in order to avoid further collection activities and penalties. Your threats have been sent to legal counsel for review, and depending on your further actions, they will determine your accountability and how they will proceed against you and your account.
I can offer a payment plan for you to satisfy the balance of $810.32. We will need biweekly payments of at least $200, until the balance is paid in full. Or, you may submit one payment of $550 to satisfy the account in full. Your choices for payment method are as follows: MoneyGram, PayPal, or Credit Card, (all of these options have fees associated with them).You will need to accept one of these offers by Thursday, February 24, 2010, in order to properly set up your account.
Please govern yourself accordingly."
that is their usual BS form letter.they are in COSTA RICA.respon
that is their usual BS form letter.they are in COSTA RICA.respond that you would love to be extradited to COSTA RICA as it's cold in nj.in a nutshell your state laws prevail no matter what the contract says.if you don't feel like saying that.just state your state laws prevail,and to pound sand.
Heck yeah, I want to be extradited to COSTA RICA!!! Paul is corr
Heck yeah, I want to be extradited to COSTA RICA!!!
Paul is correct. Your state law over rides Costa Rica. Heck if they don't go for that then tell them United States laws over rides them also.
But I would try real hard to be extradited to COSTA RICA. LOL
Quote:"GOVERNING LAW: Both this agreement and the application is
Quote:
"GOVERNING LAW: Both this agreement and the application is considered to be executed at our offices in San Jose, Costa Rica, and this transaction and agreement with us shall be governed by, construed, and enforced solely in accordance with the internal laws of Costa Rica." |
Respond like this:
Please note I am not a resident of Costa Rica, have never prescribed to be a resident Costa Rica and have no Costa Rica presence, as such am not subject to the Costa Rica laws you detail. My state law prevails!
i agree with what everyone said concerning state laws.. they are
i agree with what everyone said concerning state laws.. they are prohibited in NJ, period.
is your bank account secure?
Well, payday loans made my bank account go into the negative, an
Well, payday loans made my bank account go into the negative, and I can't close it or put an ACH block until its negative. But this also means that they can't take anything, cause there's nothing there. I plan on waiting until this next round of possible attempts goes through, probably just giving me a few more overdraft fees, and then attempting to bring my account positive and close it.
Tell your bank to block all activity to your account. tell them
Tell your bank to block all activity to your account. tell them that this place has no authorization to make these withdraws. The bank should refund your fees if not the amount they are trying to take