Response to ACH revoke letter - Cashjar
Date: Wed, 02/29/2012 - 10:21
I am writing on behalf of Cash Jar in response to your recent email. Cash Jar strives to assist consumers with their short term cash needs and is concerned that you were disappointed with your most recent experience. We have noted your request for no further communication by telephone.
Please be advised, however, that your loan was made pursuant to Cash Jar’s license in its home country of Belize under the International Financial Services Commission Act of Belize, Chapter 272. Cash Jar’s contracts, including the loan agreement you signed, clearly designate Belize law as governing its transactions and provide all disclosures required by Belize and U.S. federal law. Cash Jar has no physical presence in the State of New Jersey and does not solicit New Jersey consumers via mail, telephone, or email; therefore, we are not subject to its regulatory jurisdiction. In order to obtain a loan from Cash Jar, a New Jersey consumer must log on to the internet and access Cash Jar’s website, just as you did. You received documents in conjunction with your loan fully describing how the finance fees are applied and your repayment options, and you agreed to these terms, including the applicability of Belize (not New Jersey ) law to the transaction, with electronic signatures in multiple places. Should you require another copy of your documents, or if you need clarification on points referenced in the documents, please contact us. A careful review of those documents should resolve your concerns regarding the terms applicable to your loan.
We intend to continue our efforts to collect the loan balance from you. However, we do understand that the current economic situation has adversely affected many people. We are currently willing to offer you a settlement in full if you will make a payment of $300.00. If this settlement offer is acceptable to you or if you’d like to discuss other arrangements please contact Miss Sharon in our recoveries Department at [EMAIL="recoveries@cashjar.com"]recoveries@cashjar.com[/EMAIL]. It is in your best interest to make arrangements with us directly, as your loan may be sold in the future to a third party collection agency. Those agencies are empowered to take legal action to collect the debt, and once they purchase your account from us, the nature of their actions is not within our control.
respond this way
they are full of it.your state laws apply so respond like this.
well since i am not a citizen of belize NJ laws apply whether you believe it or not,or like it or not.so i owe 35.00 only,and will not speak to anyone on this matter until you agree to that amount and give an alternate means to pay it.
respond like that as again total BS.your state laws prevail,and you only owe 35.00.don't let them BS you.
Follow Up Response
I sent response back to cashjar as advised and after several emails with the same message, I received a response "We are currently willing to offer you a settlement in full if you will make a payment of $35.00". This was received last week.
But then I received another email from them this afternoon ...
Your Cash Jar debt has been marked to be sold to a third party collection agency. Your account will be sold Saturday, 2012-03-18 00:00:00.
Cash Jar is giving you a final opportunity to settle your account balance of $255. If you contact us within the next 48 hours, Cash Jar is willing to accept $76.5 to pay your debt in full. We realize that you may not have the funds to pay this amount immediately. We are willing to set up future payment arrangements in order for you to take advantage of this final offer.
Failure to respond will result in the sale of your account and the discount will no longer be available to you. This third party Collection agency will be empowered to collect the full balance of $255 at will. This will include additional fees, derogatory credit reporting, and all further collection activities set by that agency.
It is in your best interest to contact Cash Jar at (866) 568-2209 and take advantage of the best possible offer you will receive on your account.
I do not have a balance of $255 ... and Can they sell this to a third party collection agency? I know $76.50 is not much but I do not want to pay more than I have to - which is $35 remaining from the principal borrowed of $300.
You don't legally owe them anything, even the $35, so again, don
You don't legally owe them anything, even the $35, so again, don't let them intimidate you. If you really want to pay that back to them, go buy a prepaid debit card for $40 (so it will also cover the fees on the card) and then call them and tell them you'd like to take advantage of the $35 settlement offer. If they refuse that amount and tell you that you owe them more, simply hang up and ignore any other contact they try to make.
If they do sell the debt to a third party collector and they start coming after you, you can send the collect a debt validation letter (see the sticky thread at the top of the forums) which they most likely won't be able to complete since the loan was illegal in the first place, therefore making the debt un-collectable.
Remember you're in control now. The most they're ever going to get from you is $35, and only if they take it on your terms.
Let us know how it goes after you try this.
techincally right zach,but
it is a moral issue.we here always advocate paying back the principle,or making every reasonable attempt to do so.now since the illegal doesn't want their 35.00.too bad no collector can really legaly collect so let cashjar sell it.you can use your AG to deal with them when the time comes.keep us posted please.