East Side Lenders
Date: Fri, 09/07/2012 - 13:27
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East Side Lenders is responding to your correspondence regarding the above-captioned account. East Side Lenders, which is located in Delaware, is licensed by the State of Delaware to make small loans. All such loans are approved and funded in Delaware, with repayment to be made in Delaware. The East Side Lenders loan agreement and website contain all disclosures required by Delaware and federal law and make it clear that all transactions are governed by Delaware law. On the advice of counsel, East Side Lenders maintains that the choice of Delaware law as controlling in the loan documents would be upheld, as all of the significant contacts in the loan transaction occur in Delaware. The loan agreement is legal and enforceable.
In responding to your correspondence, East Side Lenders notes and reserves all available legal and equitable objections to the points you have raised. East Side Lenders provided this service as a convenience to you. We still consider your loan to be outstanding and are prepared to go to arbitration as provided for in the Loan Agreement between us.
As an alternative, if you are experiencing financial hardship, we will be happy to speak to you about payment arrangements through which you can successfully meet your payment obligations. East Side Lenders will consider doing so because of our continuing commitment to servicing our customers and not because of a legal obligation to do so. Should you have any further questions regarding this matter, if you wish to speak about payment arrangements, please contact us.
Sincerely,
Thanks,
Nick F.
**I intend to respond to them that as I am a resident of OH and have no presence in Delaware, I am bound by my state laws only. But I just want to make certain that I have my numbers correct with regard to what I may or may not owe them. I took out a loan for $700 in Feb 2012. According to the pay-down schedule, there is $425 left on the original loan amount...to date I have made bi-weekly payments that total to $2818. Do I apply that total amount against the $700 (meaning that they would "owe" me $2118) or do I just subtract the portion of those payments that was toward the principal (meaning that I would still owe them $425)? Thank you
they owe you 2118.00 if the principal amount of the loan is 700.
they owe you 2118.00 if the principal amount of the loan is 700.00 so you have overpaid them. Any payments made to date should be applied toward the principal anything over that results in your overpayment.
I thought that was the case, thanks for the response. I will s
I thought that was the case, thanks for the response. I will send my letter to them and hopefully they will come back with a PIF response.
PURSUE A REFUND!!! You overpaid them and these guys have a good
PURSUE A REFUND!!! You overpaid them and these guys have a good chance of coughing up a refund since they don't have any tribal or offshore protections. Any cent over the principal is owed back to you. It doesn't matter what they say is interest or what is not interest.
File with the Better Business Bureau and ask for a refund. I got
File with the Better Business Bureau and ask for a refund. I got back over 3,ooo that way.:D
I had a loan with Eastside. The MD Commisson of Financial Regul
I had a loan with Eastside. The MD Commisson of Financial Regulation imposed a final cease and desist on them. They are no longer making loans to MD residents and we obtained restitution. Keep pursuing them.
refund
Below is the response I received this weekend, which is great.... I was wondering though, for those who did get a refund, did you get it via check or did you do the electronic method. I am a little leery to give them any other bank info (I closed the acct they were automatically debiting).
Dear Ms. W:
We are sorry to learn that you are dissatisfied with the terms of the loan offered by East Side Lenders. Customer satisfaction is very important to us and we are willing to issue you the requested refund in order to resolve your complaint.
Your loan has been noted and you will no longer be able to receive any new loans with us. If you would like a check issued, please allow 2-3 weeks for the refund to be received. As an alternative, we can deposit the refund directly into your checking account with 2-3 business days.
Please let me know how you would like to proceed.
Sincerely, Christy Finazzo
East Side Lenders, Manager
40 East Main Street, Suite 410
Newark, DE 19711
Yes, definitely have them send you a check to address listed. Y
Yes, definitely have them send you a check to address listed. Your checking account information needs to be safeguarded at all costs and congratulations.
What e-mail address did you use for Eastside Lenders? I have e-
What e-mail address did you use for Eastside Lenders? I have e-mailed the [EMAIL="service@eastsidelenders.com"]service@eastsidelenders.com[/EMAIL]. I e-mailed twice last week and once this week. Still no response.
contact info
I used the customer service email, but also copied Christy Finazzo (in addition to filing complaints w/BBB and my attorney general's office).
[EMAIL="christy@eastsidelenders.com"]christy@eastsidelenders.com[/EMAIL]