Questions
Date: Thu, 09/30/2010 - 08:24
I recently wrote a letter on here and asked for help with some of my payday loans! I wrote the letters to the companies that someone has suggested on this forum. One of the companies I wrote to was My Next Paycheck, where I had a $400 loan that I currently pay back biweekly and the loan is in good standing! After I wrote the letter this is the reply I got back:
You are mistaken???.
We are a Canadian entity and do not fall under your State???s regulatory financial requirements. The loan document you have signed has been legally tested throughout the US and is binding. You fraudulently applied and received a legal loan for $400. We will aggressively, legally, and professionally pursue the debt and any fees incurred as a result. Upon default, your account will be properly reported to the credit bureaus should payment not be made.
My question is, how should I reply to this?
You are mistaken???.
We are a Canadian entity and do not fall under your State???s regulatory financial requirements. The loan document you have signed has been legally tested throughout the US and is binding. You fraudulently applied and received a legal loan for $400. We will aggressively, legally, and professionally pursue the debt and any fees incurred as a result. Upon default, your account will be properly reported to the credit bureaus should payment not be made.
My question is, how should I reply to this?
How much have you already paid them? Generally, I would recom
How much have you already paid them?
Generally, I would recommend you simply reply by resending your original letter and letting them know that they are incorrect and that your state's laws prevail.
On this loan I haven't paid anything back yet! I have had to ot
On this loan I haven't paid anything back yet! I have had to other loans with this company that I paid back!
Quote:We are a Canadian entity and do not fall under your State&
Quote:
We are a Canadian entity and do not fall under your State’s regulatory financial requirements. The loan document you have signed has been legally tested throughout the US and is binding. You fraudulently applied and received a legal loan for $400. We will aggressively, legally, and professionally pursue the debt and any fees incurred as a result. Upon default, your account will be properly reported to the credit bureaus should payment not be made. |
I would reply this way:
Please note I am not a resident of Canada, have never prescribed to be a resident Canada and have no Canada presence, as such am not subject to the Canadian laws you detail.
Quote:Originally Posted by AnonymousI had a $400 loan that I cur
Quote:
Originally Posted by Anonymous I had a $400 loan that I currently pay back biweekly and the loan is in good standing! |