Pay Day Loan Help in Mass.
Date: Wed, 01/05/2011 - 07:34
I've been lurking here for a while as I too am in PayDay Loan Hell. I have 6 Loans out and live in Massachusetts. All 6 are Internet loans. I've done all the things suggested by Shazzers, closed my checking account, got a new checking account at a different bank. I sent my letters out yesterday and received this response by GECC/ Cash Direct Express:
"Please be advised that Cash direct express is governed under Delaware law.
GOVERNING LAW, ASSIGNMENT AND EXECUTION: This Loan Agreement is governed by the laws of the State of Delaware, as it is the State in which Your
Application is received, the Loan Agreement is entered into, the Loan is approved and funded and where payment is received by Us in fulfillment of Your
obligations under the Loan Agreement. We may assign or transfer this Loan Agreement or any of Our rights hereunder. If this Loan Agreement is approved by
Us, then You agree that the electronically signed Loan Agreement We receive from You will be considered the original executed Loan Agreement, which is
binding and enforceable as to both parties."
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Any idea on how I shouls respond to this?? I don't believe they are right but want to be sure.
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My Cash Now - $430 loan paid $297.39
PayDay Max - $400 loan paid $318.44
EZ PAy Day - $450 loan paid $405
It's My Payday/ National Opportunities Limited - $700 loan paid $1820
Advance Me Today - $400 paid $0
GECC/ Cash Direct Express - $400 paid $0
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I want to pay the $400 principle on the above two as I have paid nothing towards them but will not give my new account number to anyone. I've expressed in both my letters that as soon as I have a physical address I will send the $400 immediatly. I want to pay these all of but just could not afford the constant finance charges every week.
We aren't here to judge you so no worries about giving any expla
We aren't here to judge you so no worries about giving any explanations.
I am sure you are aware that payday loans are prohibited in your state. GECC has sent you the typical letter stating the loan is governed by their state, but, that just isn't true, and besides that, GECC/CashDirect Express doesn't have a license in Delaware either! I would contact the Delaware Office of the State Bank Commissioner and let them know this!
There isn't a lot you can do about making them give you a valid address where to send payments, you have given them ample opportunity to provide you with that information, don't chase them down, you are wasting your time. Simply tell them, no address means no payments, and do not accept a P.O. Box as an address, tell them they must have a physical address, it's just too risky sending money orders to a freakin P.O. Box! lol
Have you read my most recent find? You might find it interesting, click on it below, if you have any further questions please feel free to ask! Keep us posted!
READ ABOUT PAYDAY LOAN SCAMS!
Edit: Fixed link.
Shazzers, I tried to go to this link and nothing comes up READ
Shazzers,
I tried to go to this link and nothing comes up READ ABOUT INTERNET PAYDAY LOAN SCAMS!
Great advice as always by Shazzers....It seems if you can get a
Great advice as always by Shazzers....It seems if you can get a refund (fingers crossed) from It's My Payday/ National Opportunities Limited - $700 loan paid $1820 you can pay off the others and be done.
The nice thing is, you have control now. Thety cannot get in your bank account and it is on your TERMS. Stay strong and postiive. We are here to help
Quote:Shazzers, I tried to go to this link and nothing comes up
Quote:
Shazzers, I tried to go to this link and nothing comes up READ ABOUT INTERNET PAYDAY LOAN SCAMS! |
Hmmmmmm, try this:
READ ABOUT PAYDAY LOAN SCAMS!
still not valid. There is a double "http" in the front of the ad
still not valid. There is a double "http" in the front of the address