east side lenders nj problem..
Date: Thu, 09/16/2010 - 12:24
okay the BBB of delaware sent me an email with an attachment from east side lenders stating: "east side lenders is located in delaware, is licensed by the state of delaware to make small loans. all such loans are approved and funded in delaware, with repayment to be made in delaware. the east side lenders agreement and website contain all disclosures required by delaware and federal law and make it clear that all transactions are governed by delaware law. on advice of counsel, east side lenders maintains that the conduct of a national internet lending program itself is insufficient to establish legislative or regulatory jurisdiction over east side lenders. in addition, on advice of legal counsel, we maintain that attempts to regulate extraterritorially run afoul of the dormant commerce clause of the constitution. finally, on the advice of consel, east side lenders maintains that the choice of delaaware law as controlling in the loan documents would be upheld, as all of the significant contacts in the loan transaction occur in delaware. in responding to your letter, east side lenders notes and reserves these objections, as well as others, including but not limited to personal jurisdiction.
We still consider Ms. ???? loan to be outstanding and are prepared to go to arbitration as provided for in the loan agreement. we are willing to settle this accont for $772.50 waiving $160.00 from the balance. as an alternative if she is experiencing financial hardship we will be happy to speak to her about payment arrangements through which she can successfully meet her payment obligations.
East side lenders has taken the above reported actions because of its continuing commitment to customer satisfaction and for no other reason. thank you for bringing this matter to our attention."
sincerely
christy finazzo, manager
east side lenders
WELL THE LOAN WAS FOR $560.00 AND I PAID THEM $690.00... NOW WHAT?
We still consider Ms. ???? loan to be outstanding and are prepared to go to arbitration as provided for in the loan agreement. we are willing to settle this accont for $772.50 waiving $160.00 from the balance. as an alternative if she is experiencing financial hardship we will be happy to speak to her about payment arrangements through which she can successfully meet her payment obligations.
East side lenders has taken the above reported actions because of its continuing commitment to customer satisfaction and for no other reason. thank you for bringing this matter to our attention."
sincerely
christy finazzo, manager
east side lenders
WELL THE LOAN WAS FOR $560.00 AND I PAID THEM $690.00... NOW WHAT?
file an AG complaint as pdl's are prohibited in NJ.it doesn't ma
file an AG complaint as pdl's are prohibited in NJ.it doesn't matter about their license in delaware.you state laws apply here.file the complaint,and file an FTC complaint as well.bottom line,you overpaid this loan.they owe you 130.00.
Blah, blah, blah. Same old BS they always spew. File a complai
Blah, blah, blah. Same old BS they always spew. File a complaint with the DE BBB. Eastside may ignore you but they will not ignore the BBB. That's how I got my PIF.