Completely Freaked OUT!!!
Date: Wed, 04/04/2012 - 08:52
I have an internet PDL that I have defaulted on (Cash Central, original $510.00, now $710.00) but I am more than willing to pay this back. My problem is, this company called Nationwide has called my mother, me and no telling who else and has told both of us that I have been "Notified" and if I don't voluntarily comply and contact this # with this case #, then paper-work will be delivered to the address that they have secured for me to inform me of my "charges". I called the # and spoke with two different people and I asked for their address and they would not give it to me and told me that I was being charged with "Breach and fraud in inducement of breach of contract." I told them I needed their address so that I may send a Debt Verification letter and they told me they were a "mitigation" firm and they had nothing to do with my debt, and also, I had been notified in the past and that was my Debt Verification, but if I wanted to take care of this voluntarily, they would surely take my $. I informed them I was well within my rights to request a Debt Verification and the guy told me I was wasting his time. He then told me he was way off in California and he had no idea who had called my mother, but then told me that a "locating agency" had been hired and that was probably who called her, but no one from his company had contacted me. I asked what state I was being charged in and what county and he told me he had no idea, probably some where in Texas, since this is were I live. So I looked up "Nationwide" and found an address and sent off my DV yesterday, certified. Today, I got a message on my vm stating that they had verified my address and if I did not voluntarily take care of this matter, they would deliver paperwork that would make it no longer able to take care of this matter (hence, hinting that I am being charged with some crime). I'm scared to death.
I know that I do have the right of a Debt Verification, but can I be charged with this? Am I going to go to jail? I'm trying to be a teacher, this will kill that!!!!
PLEASE HELP ME!!!!!
First, calm down. Cash Central is not a licensed lender in TX
First, calm down.
Cash Central is not a licensed lender in TX.
Master Licensee: KINSCO LLC
DBA Operating Name: CASH CENTRAL
License - Number: 42164
Type: Regulated Loan
Date: 9/9/2003
Status: Canceled
Location - Address: 1827 WYOMING
City: EL PASO State: TX Zip: 79903
Further, if this is a 3rd party collector, they're also breaking the law.
You can't be put in jail for not paying a payday loan. How much did you pay back before you defaulted? You should only repay the principal balance of the loan.
Contact the TX Office of Consumer Credit Commissioner. 800-538-1579
OMG, thank you so much!!
I haven't been able to concentrate on work, school work, eat........ My poor mother called me yesterday at work in a panic. I haven't paid anything on this loan yet, like I said, I am now in a position to pay it, but I would just like some paperwork in my had to verify WHO it is I am paying. Is this too much to ask? I just have this fear someone is going to show up at my job. I HATE FEAR TACTICS!!!!
A few things: 1. When you're ready to repay, pay the origina
A few things:
1. When you're ready to repay, pay the original lender. I wouldn't give a dime to a CA on an illegal loan.
2. You should only repay the principal balance of your loan.
3. File complaints with the TX OCCC, your state's Attorney General's office and the FTC on both Cash Central and the collection agency.
4. If they call again, tell them you have filed complaints and that, if they still wish to "serve you," they can meet you at your local police department.
Do not let these people scare you. After your next conversation with them, I wouldn't bother picking up the phone again. Also, tell your mom to ignore their calls and explain to her that these are scammers.
exactly right
now that ohiogal laid it out for you there's no need to stress.now i would file a police report,and have your mother do the same.bottomline anyplace,not just this one breaks the law when they threaten arrest for a debt and are bottomfeeding scum.treat them like it.
Are You Sure they are Calling About Cash Central?
This seems odd to me, and here is why.
I also defaulted with Cash Central, and they do have a license in my state. They are also licensed in Texas and there is a copy of their Texas license on their website, which looks legit, but I am nit sure.
When I defaulted, they were pretty cool and gave me an EPP. However, the EPP was too much and I defaulted again. now, I have the option of logging in to my account and selecting a payment amount of my choice to pay the thing off.
That phone call you got sounds like a Payday Loan Yes tactic, not Cash Central. I get these calls too, but it's the bottom feeders that do it.
Did you have any other loans from known illegal lenders? They are the ones that pull this crap, and I would be shocked if Cash Central did.
Ohio Gal, are you sure they aren't licensed in TX? They are very reputable. I checked their website and they are pretty specific about which states they are licensed in.
Anyway, my suggestion would be to get in touch directly with Cash Central. Log into your account and see if they offer payment options. Don't deal with this Nationwide place at all, they are just using scare tactics and I'm just really shocked if Cash Central would do such a thing.
Hmm
Agath2005
I did go to their website and checked their state license, it expired March 30, 2012. But make no mistake about it, Mike Anderson with "Nationwide", with whom I spoke with yesterday, told me that his "firm" was hired by Cash Central to help "mitigate" this problem. He was very rude, he tried to tell me things I said, when clearly, I did not and I called him on it. It was all very deviant.
Thanks so much for everyone and all their help!!! I feel a lot better now that I know there is a light at the end of the tunnel and I'm not going to get hauled off at sunset.
Ugh, then they sold it out
Looks like they sold it to a bottom feeder. That is lousy, for sure.
Ohio Gal and Paul are right, they are definitely breaking the law. Report them right away!!!
Agath, thanks for you input. I double-checked and here's what I
Agath, thanks for you input. I double-checked and here's what I found.
CC is NOT licensed as a payday lender (as per my post above - from the TX OCCC website). They ARE licensed, however, as a CSO. So, I'm assuming you contracted with them for a loan where they acted as a CSO.
So...
You are going to have to pay them back but, do NOT, and I repeat, do NOT pay this collection agency a dime. If this is a third-party collection agency, they are breaking the law, big time. If this is a 3rd party collector, you need to report them for violating the FDCPA.
My suggestion is that you call Cash Central, tell them you had fallen on some hard times but would like to resolve your account and set up a payment arrangement. Call their corporate office / toll free number on their website.
A Little More research
Everything I find on this "Nationwide" is pretty bad. It could be that Cash Central Sold your loan to a 3rd party collector, but not to this Nationwide outfit. I read a few things about it, and many people have found out that yes, their debt was sold to a 3rd party collector, but not Nationwide.
Who knows how these sleazy outfits get your information! Follow Ohio Gal's Advice and talk directly to Cash Central, and keep us posted!
Don't let them scare you!
A relative of mine received a similar call recently and the company identified themselves as ISD. They told my relative that I needed to contact them immediately regarding some outstanding checks. I called them back and questioned why they would discuss my personal info with someone other than myself. And just like you, the rep. told me the same excuse about how they dont make outgoing calls, that the legal courier was in my area and thats who made the call. I then asked the rep. to send me something in writing, and of course my request was refused. The excuse was that by the time they send me something, I would have already been served with papers. I called back again and spoke with another person to ask for a debt validation letter and for them to remove my work number. The rep. replied that they will not remove my work number from their system. I refused to argue with them, so I ended the call.
I filed a complaint against them with both the FTC and my state's attorney general's office. I'm waiting to see how this will work out.