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How to respond to lender

Date: Mon, 07/09/2012 - 11:54

Submitted by wickersheim
on Mon, 07/09/2012 - 11:54

Posts: 5 Credits: [Donate]

Total Replies: 2


I recently revoked authorization for 247greentstreet.com as they are not licensed in the state of iowa. I have had 4 previous loans with them and I asked to lower the principal due for the most current loan based of the interest and fees I paid on the prior loans. Today I received a response from them stating "we are unable to deduct previous loan fees from your current loan balance, but we are willing to remove all fees from the current outstanding loan:

This is a difference of $250.00. I don't want to pay them anymore than I have to. Any thoughts on how to respond back or am I obligated to pay the full principal on the current loan and "eat" the interest and fees I have already paid them for previous loans?


in addition to my post above, they also stated, regards to being licensed, "you will see that Northway Financial Corporation LTD is a financial institution licensed and regulated in accordance with the european union directives. As such, the laws of the republic of malta, not the state of iowa applies to its term" -- Is this correct? Do they not need to be licensed in Iowa?


lrhall41

Submitted by wickersheim on Mon, 07/09/2012 - 12:13

( Posts: 5 | Credits: )