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St. Vincent not having to abide by state laws?

Date: Mon, 07/23/2012 - 17:07

Submitted by surgeonjen
on Mon, 07/23/2012 - 17:07

Posts: 15 Credits: [Donate]

Total Replies: 14


I checked with the state of kansas to see what payday loan companies were licensed to loan. Upon researching I found out that none of my payday loan companies were licensed. So I sent them a message that I printed off of someone else forum. Pretty much stating that they were illegal in the state of Kansas and that I only was required to pay back the principle balance in which I have and then some. This company responded back very quickly saying they didn't have to abide by state laws because they were from St. Vincent. St Vincent and the United States are both parties to the General Agreement on Trade in Services, a treaty which specifically permits companies in one country to make consumer loans to citizens of the other. Does anyone know if this is legit?


As mentioned above, they are trying to confuse you. Write back and tell them that you are not a resident of whatever British Overseas Territory or Caribbean Island they are operating on and therefore you only owe principal. If they continue to screw around, kindly tell them to screw off and pay them nothing.


lrhall41

Submitted by waffles on Mon, 07/23/2012 - 21:41

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if this company is in St. Vicente - can they garnish your wages?


lrhall41

Submitted by on Tue, 07/24/2012 - 08:07

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not without a court hearing in your town,county,village,or bourough.what they mean by garnishment is a wage assignment.draft a wage assignment revocation letter and fax it to this illegal.


lrhall41

Submitted by paulmergel on Tue, 07/24/2012 - 09:26

( Posts: 15514 | Credits: )


I LIVE IN CALIFORNIA.... SO THEY WOULD HAVE TO TAKE ME TO COURT BEFORE GARNISHING MY WAGES CORRECT? THEIR COLLECTIONS DEPT IS THREATENING TO SEND IT STRAIGHT TO MY EMPLOYER FOR GARNISHMENT...

I borrowed $600.00, interest is $150.00.... I have paid 4 payments of interest of $150.00 each and have paid $50.00 just recently to the collections dept.... They are trying to say that I still them $800.00...

Any help would be appreciated. I had them set up on a pre paid visa, but after reviewing this site - I don't owe them anything. I'm just concerned about my wages being garnished.


lrhall41

Submitted by on Tue, 07/24/2012 - 11:59

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I had a loan with MBS Loans and paid around 400.00 in interest on a 200.00 loan. I sent them an email yesterday saying that I reside in New Jersey and payday loans are prohibited - this is their response:

We are a non-us company with no US presence and fully meet all relevant Laws and Financial requirements, as fully detailed in the loan contract, a contract that you freely accepted on the 3 occasions you requested loans from us. As a goodwill gesture, we will suspend your loan, meaning no more payments will be required, but there will be no refund as the loan has not been repaid in full. Customer Service


lrhall41

Submitted by on Tue, 07/24/2012 - 12:06

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They're talking about a volutary wage assignment that was probably included in your contract.

It's revocable at any time as it is VOLUNTARY.

If you'd read and followed the steps in my signature link, you would have revoked this authorization and given a copy to your employer in order to protect yourself.

If you haven't done this, you need to do it right away.


lrhall41

Submitted by OhioGal1 on Tue, 07/24/2012 - 12:08

( Posts: 5253 | Credits: )


Quote:


I had a loan with MBS Loans and paid around 400.00 in interest on a 200.00 loan. I sent them an email yesterday saying that I reside in New Jersey and payday loans are prohibited - this is their response:

We are a non-us company with no US presence and fully meet all relevant Laws and Financial requirements, as fully detailed in the loan contract, a contract that you freely accepted on the 3 occasions you requested loans from us. As a goodwill gesture, we will suspend your loan, meaning no more payments will be required, but there will be no refund as the loan has not been repaid in full. Customer Service



They're full of it. Keep at them and demand your refund. Did you file complaints?


lrhall41

Submitted by OhioGal1 on Tue, 07/24/2012 - 12:10

( Posts: 5253 | Credits: )


no yet, but I did respond that I will still file a complaint against them.

Also, sent 247Greenstreet, CashWeb, ArcherDirect the same emails, no response and no calls from them either. 247 was calling me 5 times a day.

MPMarketing agreed to two payments of 150.00 for 300.00 loan. I only paid them 90.00 for my first interest payment. I agreed to this.


lrhall41

Submitted by on Tue, 07/24/2012 - 12:17

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I emailed this man back and told him that it was BS (in nicer terms) And that I didn't appreciate him lying to me (acting as if I was stupid and can't look up the information I needed), so he was not going to see another penny out of me.


lrhall41

Submitted by surgeonjen on Tue, 07/24/2012 - 15:05

( Posts: 15 | Credits: )