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Loan Point USA

Date: Mon, 01/10/2011 - 08:52

Submitted by DorenC
on Mon, 01/10/2011 - 08:52

Posts: 156 Credits: [Donate]

Total Replies: 33


I have been done with most of my pay day loans. They have all pretty much been taken care of except for one that is with elastic.com. I haven't heard from anyone except the typical calls from Ameriloan. (I am job security for someone. They can keep calling, I am not picking the phone up for them bottomfeeders) Well I get a letter from NCA National Credit Adjusters in the mail today stating that I owe them $471.00 for a loan that they purchased from Loanpoint USA. They said that they now own it and I owe $471.00 because of interest, late charges and other late charges that may vary from day to day. I have dealt with NCA before and they are nasty. I ended up paying them before because I didn't want to argue with them anymore. They were calling me at work, etc. Where should I begin with this? I don't want to fall to their antics again.


First of all, under Section 808 Unfair Practices of the Fair Debt Collection Practices Act (under the Consumer Credit Protection Act), federal law prohibits a debt collector from collecting any amount (including any interest, fees, charge, or expense incidental to the principal obligation) unless such amount is expressly authorized by the agreement creating the debt or permitted by law.

If a debt collection agency owns your account (and NCA has stated they do), and you did not expressly enter an agreement to pay interest and fees to that collection agency, than they cannot charge you anymore than what the already existing balance is.

Secondly,Loanpoint USA has an address in DE and Utah, but they do NOT have a license in either of their states, so, they are an unlicensed/illegal lender, this means NCA can NOT collect on this debt because it is NOT enforceable in a court of law, however, you won't be able to tell them that because they are bottom feeders and care not.

I would be most happy to guide you through the process of making NCA go SPLAT but I need more info in order to do that.

What state are you in?

What is the date of the letter you received from NCA?

Was the mini miranda warning on that letter of collection?


lrhall41

Submitted by Shazzers on Mon, 01/10/2011 - 10:15

( Posts: 17344 | Credits: )


i would be interested in knowing how to deal with them also... i have an account with loanpoint usa. BBB has sent me a reciept saying they have just sent them my complaint so i expect them to turn the account to collections sooner rather than later.
As you know shazzer i am in TN and what is the mini miranda law?


lrhall41

Submitted by mrsbntn on Mon, 01/10/2011 - 13:48

( Posts: 44 | Credits: )


Quote:

how about TN? from what i read it seems like collection agencies need to be licenced in TN to do collections do you know if thats correct or what their laws are on out of state collection agencies?


The licensing authority for TN. is the Collection Service Board, Division of Regulatory Boards and Department of Commerce and Insurance. I searched the licensee data base and National Credit Adjusters is licensed in TN. Their license number is 706. If they (NCA) fail to abide by the FDCPA I would also file a complaint against them with the license authority, as well as the FTC. For future reference.


lrhall41

Submitted by Shazzers on Mon, 01/10/2011 - 17:25

( Posts: 17344 | Credits: )


Quote:

Yes they do have the mini-miranda rights on their letter. I have 30 days to dispute it. What is the best step to take first? I know that as soon as I send the letter I will get calls and messages etc at work. I have dealt with these people before.

Here's the deal, if they DO call you during the validation period, they could be subject to a fine by the FTC, BUT, you REALLY REALLY need to follow up with complaints if they call you during the validation period, I will be more than happy to help you, but only if you will follow through with complaints to the FTC, your state attorney general and your state collection agency regulator, should they break the law and proceed to call you after they have received the validation letter.


lrhall41

Submitted by Shazzers on Tue, 01/11/2011 - 08:52

( Posts: 17344 | Credits: )


Do you want me to help you write a validation letter? If you do, I will, but I need to know that you will follow through on complaints if NCA attempts to contact you after they receive the validation letter, I also need to know that you will send the validation letter certified, return receipt requested. It's important that you follow through if I take the time to write a letter. Deal?


lrhall41

Submitted by Shazzers on Tue, 01/11/2011 - 09:26

( Posts: 17344 | Credits: )


Your Name
Your Address
Your Phone #

Creditor's Name
Department
Creditor's Address

Date

Dear (Insert Name Of Creditor)

I received your letter of collection dated (insert date). Pursuant to the Fair Debt Collection Practices Act, 15 USC 1692g, I hereby inform you that I dispute the alleged debt associated with account # (insert account number), LoanpointUSA being the original holder of this debt.

Per the FDCPA (Fair Debt Collection Practices Act) I am officially requesting that you properly validate this debt, I am entitled to receive the following documentation:
???Explain the nature of the alleged debt - that is, what the money I allegedly owe is for;
???Please provide an explanation of how you calculated what you allege that I owe;
???Please provide me with copies of any contracts or documents which form a basis for the alleged debt; and
???Please provide me with the name and address of the original creditor.

I further request that you take the following actions:
???Please contact any credit agencies to whom you have reported this alleged debt, and inform them that I am disputing the debt.

Under the FDCPA laws, you are required to cease ALL collection efforts with me until this debt is properly validated, if you fail to follow the law, non-compliance of my requests could result in serious legal suits and hefty fines. I WILL file complaints with the following organizations; Federal Trade Commission, the Michigan State Attorney General, Better Business Bureau, and the Michigan Collection Practices Board. I will be keeping a written record of all communication attempts made by your company and intend to report it promptly if you do not adhere to the law.

Except as specifically outlined herein, I am requesting that you cease all contact with me about the alleged debt. Any further contact should be strictly in conformity with the FDCPA: It should be limited to providing me with the documentation requested in this letter, informing me that you have ceased collection efforts on the alleged debt, or stating that you are taking a specific action in relation to the debt such as commencing a collection lawsuit. Any further contact should be made in writing, and should be submitted to my home address by mail.

Sincerely,

Your Name


lrhall41

Submitted by Shazzers on Tue, 01/11/2011 - 10:44

( Posts: 17344 | Credits: )


I have been recieving calls from "A California Law Firm" they state I owe American Payaday Loans. That I have committed wire fraud and other crimes and they will be sending law enforcement to arresst me in themorning and I will need a lawyer and bail money. They have called from 661-727-3076 ext 4318 lady last name of Jones. They also call from 916-639-5000 about the same thing. I have never borrowed from them. Who are these collection people, they speak with heavy middle eastern accent and refuse to give me the company name I borrowed from they just say American Payday is the parent company and own 5000 payday loan companies. What should I do.


lrhall41

Submitted by on Tue, 01/11/2011 - 12:40

( Posts: | Credits: )


Quote:

I have been recieving calls from "A California Law Firm" they state I owe American Payaday Loans. That I have committed wire fraud and other crimes and they will be sending law enforcement to arresst me in themorning and I will need a lawyer and bail money. They have called from 661-727-3076 ext 4318 lady last name of Jones. They also call from 916-639-5000 about the same thing. I have never borrowed from them. Who are these collection people, they speak with heavy middle eastern accent and refuse to give me the company name I borrowed from they just say American Payday is the parent company and own 5000 payday loan companies. What should I do.

What state are you in?
Well, unfortunately, when you apply for a payday loan online you are pretty much sharing your information with the whole world. Most Internet payday lenders are criminals, they sell off your information to other Internet criminals. There an article on this forum that explains how they operate, READ THIS!


lrhall41

Submitted by Shazzers on Tue, 01/11/2011 - 14:16

( Posts: 17344 | Credits: )


Doren, after you receive the green card with their signature that they received the debt validation letter, let me know if they try to call you, because if they do try to call you it means they are violating federal law (FDCPA) and that is when you will file complaints. If they should call before they have received the letter, tell them you can't talk to them until the debt is validated, then hang up.


lrhall41

Submitted by Shazzers on Thu, 01/13/2011 - 13:47

( Posts: 17344 | Credits: )


Sure they can refuse the mailing, but they can't collect until they validate which they might have a bit of a hard time doing if they refused your mail. If they try to collect, that is a 1. Hold your ground. They need to validate properly by US Mail before any attempt to collect and if you sent in Shazzer's sample letter with the cease contact other than by US Mail part, it is a violation for them to call you even if they end up validating (except maybe just once to confirm receipt of your letter. They can't say pay up, etc...).


lrhall41

Submitted by Remember Remember on Thu, 01/20/2011 - 15:53

( Posts: 18 | Credits: )