Cash In A Wink
Date: Mon, 10/10/2011 - 12:13
I Hope this make sense so bear with me...
I talked to CIAW today trying to make some arrangement on my account. I borrowed $400 from them with a balance now of $540.00. I closed my account a few weeks ago and they attempted to take the $140 fee which was returned from my old checking account which I had closed. I asked the lady if I can just set up payment arrangements for the FULL amount, she said she could not at this time she could only collect for the $140. Then she said they will run another ACH on my account (the closed one) for $140. She told me, they make 3 attempts before the account will go into collections. As a result, I will owe more the $820.00........What?! Are these people on crack?!!
I told her..that does not make any sense. Why would you run an ach on an account that is close, especially, after I have called and told you what was going on...that's crazy...Just another way to screw consumers out of some money.
Then, I mentioned to her that I have been informed that CIWA is not legal in the state of Ohio. Well, this sweet girl told me that we follow the lending rules in Delaware not Ohio and the we (CIAW) is legal/licensed in Ohio. Moreless, she was saying I would have to comply with the Delaware's rules. I hope i am making sense here. Any input is appreciated!
This is a hott mess!! smh!!
Guess what? She's wrong. [FONT=Arial]First you need to clo
Guess what?
She's wrong.
[FONT=Arial]First you need to close your checking account and get a new one.
CIAW is NOT licensed in Ohio and not legal. Period. Follow the advice [COLOR=blue]in this thread[/COLOR] to learn how to deal with illegal lenders. You will find sample letters and other useful information, shared experiences, etc. [/FONT]
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You should only repay the principal amount of the loan (e.g. you borrowed $400, you only pay back $400). How many times have you paid that $140 rollover fee? You can subtract any of those payments from the $400. Plus, if you've had previous loans that you paid off, you can subtract THOSE overpayments as well. If all that subtracting leads you to a negative number, THEY OWE YOU so, ask for a refund. Be sure to include ACH debit and Wage Assignment revocation language when you send your letter.
You can also contact the regulatory agency below for further assistance:
Ohio Division of Financial Institutions
77 South High Street
21st Floor
Columbus OH 43215
(614) 728-8400
Stay off the phone. YOUR state law applies, not theirs and they
Stay off the phone. YOUR state law applies, not theirs and they know that. You owe principal only. By running an ACH on an account they know is closed is only costing THEM money.
I have not paid CIWA anything. I closed my account before they
I have not paid CIWA anything. I closed my account before they could do any damage.
on another note: I paid Gentle Breeze (a.k.a Tribal lending), think $133.00 dollars before I closed the account. So, I will have to deal with them as well.
I just got a PIF letter from Cash in a Wink after complaining tw
I just got a PIF letter from Cash in a Wink after complaining twice to the AG of Ohio. I also finally sent them the letter via snail mail (certified) because they were ignoring it via email. I enclosed a copy of the payday loan laws of Ohio. I paid back only the $300 I borrowed. I had the same experience toledo had. They kept insisting I had to abide by the laws of Delaware. They called me incessantly for about 3 weeks. Then they finally stopped and today via the AG's office got the PIF letter. They are not legal in Ohio. Internet lenders must have a physical location in Ohio. http://www.legislature.state.oh.us/analysis.cfm?ID=127_HB_545&ACT=As%20Enrolled&hf=analyses127/08-hb545-127.htm
