Thomas Edwards - Cash Jar
Date: Fri, 07/30/2010 - 11:53
I received a call from Thomas Edwards stating that court papers have been drawn against me for a financial matter and that I needed to call him back immediately. When I called him back, he stated he was calling for Cash Jar for an upaid $250 loan from Cash Jar last year. I did in fact take out a loan from Cash Jar and did not repay it as I was told I was not legally liable for it since in it illegal in NC. He told me that the legal fees total over $2500 but they will settle for $794. I made one payment last month for $265 and have two payments remaining. Since reading this, I am concerned about this. Should I stop payment on the two remaining payments?
If the loan is illegal in NC, I certainly would not pay $800 on
If the loan is illegal in NC, I certainly would not pay $800 on a $250 loan. That is over 200% APR. You can check the PDL laws on this site. If internet PDLs are illegal in NC then you have no obligation to repay and they have no legal recourse to collect. If you gave them electronic access to your account or post dated checks then you need to close that checking account and open a new one.
Don't pay a dime more!!!
Quote:
Originally Posted by Anonymous I received a call from Thomas Edwards stating that court papers have been drawn against me for a financial matter and that I needed to call him back immediately. When I called him back, he stated he was calling for Cash Jar for an upaid $250 loan from Cash Jar last year. I did in fact take out a loan from Cash Jar and did not repay it as I was told I was not legally liable for it since in it illegal in NC. He told me that the legal fees total over $2500 but they will settle for $794. I made one payment last month for $265 and have two payments remaining. Since reading this, I am concerned about this. Should I stop payment on the two remaining payments? |
Hi,
You're not legally bound to pay a single cent more to Cashjar. In fact, since they're illegal in North Carolina, you can tell them you are aware of your states' payday laws and ask for a refund if you've paid more than the actual amount borrowed from them. If they harass you, you can file a case against them with the FTC and your states' Attorney General. Keep us posted about the proceedings.
Payday loans are prohibited in your state. Closing your account
Payday loans are prohibited in your state. Closing your account would be in your best interest, you could also pursue a refund, you have a lot of avenues you could use against this company to press for a refund.
