What Do I DO
Date: Fri, 09/21/2012 - 12:26
[COLOR=#1F497D]Mr. Baker-[/COLOR]
[COLOR=#1F497D][FONT=Calibri][/FONT][/COLOR]
[COLOR=#1F497D]We are in receipt of your correspondence. As stated in several letters to you, this debt is valid and owing to CashCall, and has not been paid in full. Per your written request the ACH draft has been stopped on this account since July 2, 2012.[/COLOR]
[COLOR=#1F497D][FONT=Calibri][/FONT][/COLOR]
[COLOR=#1F497D]Also, please be advised that CashCall does not make unsecured or payday loans in Michigan and never has done so. Your loan is anunsecured installment loan that you obtained from a company called Western Sky Financial (“Western Skyâ€) and that is currently being serviced by CashCall.[/COLOR]
[COLOR=#1F497D][FONT=Calibri][/FONT][/COLOR]
[COLOR=#1F497D]With respect to the enforceability of your loan, the agreement was made on the reservation when the lender approved the application and funded the loan. Also, you agreed to be bound by the terms of the loan contract you entered into with Western Sky and your loan agreement is both valid and enforceable. [/COLOR]
[COLOR=#1F497D][FONT=Calibri][/FONT][/COLOR]
[COLOR=#1F497D]Additionally, the terms of the loan remain intact and the same as when you signed and executed your loan agreement. You do not dictate the terms of the loan. For your ease of review, attached please find an additional copy of your Loan Agreement. I have also included a copy of your payment history and your actual payment schedule for your records.[/COLOR]
[COLOR=#1F497D][FONT=Calibri][/FONT][/COLOR]
[COLOR=#1F497D]As also previously stated, Western Sky Financial funded your loan on October 10, 2010, in the amount of $2,525.00, which is the loan amount of $2,600.00 minus the $75.00 Prepaid Finance Charge/Origination Fee. Your account is four months in arrears. The current payoff balance on your loan as of today, September 17, 2012, is $3,061.14; the remaining principal balance is $2,223.35.[/COLOR]
[COLOR=#1F497D][FONT=Calibri][/FONT][/COLOR]
[COLOR=#1F497D]According to our records, you have made 23 out of 37 scheduled payments to this account. You have 14 payments remaining. For your ease of review I have attached a detailed copy of your payment history and your actual payment schedule. [/COLOR]
[COLOR=#1F497D][FONT=Calibri][/FONT][/COLOR]
[COLOR=#1F497D]Nonetheless, if you are experiencing financial hardship and would like assistance with repaying your debt, please contact us at (714) 221-3300 to review assistance options available. [/COLOR]
[COLOR=#1F497D][FONT=Calibri][/FONT][/COLOR]
[COLOR=#1F497D]In summary, this loan is valid and enforceable, and we have confirmed that his account balance is accurate and that we are reporting all credit information correctly for this loan. [/COLOR]
[COLOR=#1F497D][FONT=Calibri][/FONT][/COLOR]
[COLOR=#1F497D]We hope this response has addressed your concerns. We look forward to working with you to resolve this matter.[/COLOR]
[COLOR=#365F91][FONT=Arial Narrow][/FONT][/COLOR]
[COLOR=#365F91][FONT=Arial Narrow][/FONT][/COLOR]
[COLOR=#1F497D]Sincerely,[/COLOR]
[COLOR=#1F497D][FONT=Calibri][/FONT][/COLOR]
[COLOR=#1F497D]Dispute Resolution Department[/COLOR]
[COLOR=#1F497D](714) 221-3300- Dispute Resolution[/COLOR]
[COLOR=#1F497D](866) 590-2274, ext. 3300- Toll-Free[/COLOR]
[COLOR=#1F497D][FONT=Calibri][/FONT][/COLOR]
[COLOR=#1F497D]Im really not sure what to do now I wrote all the letters and filed the complaints so what now?[/COLOR]
[COLOR=#1F497D][FONT=Calibri][/FONT][/COLOR]
[COLOR=#1F497D]Dear Cash Call [/COLOR][QUOTE][COLOR=#1F497D]Als
[COLOR=#1F497D]Dear Cash Call
[/COLOR][QUOTE][COLOR=#1F497D]Also, please be advised that CashCall does not make unsecured or payday loans in Michigan and never has done so. Your loan is anunsecured installment loan that you obtained from a company called Western Sky Financial (???Western Sky???) and that is currently being serviced by CashCall.[/COLOR]
[COLOR=#1F497D]With respect to the enforceability of your loan, the agreement was made on the reservation when the lender approved the application and funded the loan. Also, you agreed to be bound by the terms of the loan contract you entered into with Western Sky and your loan agreement is both valid and enforceable. [/COLOR][/QUOTE]
I am not a member of the reservation and I do not live on the reservation. I am a resident of the State of Michigan and as you well know, the only laws I am subject to are the laws of my state. Western Sky is an unlicensed lender who charges interest rates in excess of the usary maximum for my state of Michigan. Thus the loan is unenforceable. In searching the web I found this..
Quote:
Owner Martin A. Webb has also been sued by the FTC. It should be noted that Maryland and Colorado have sued Western Sky for violating state usury limits. Western Sky routinely charges interest rates ranging from 139.22% to 194.7% APR. It is expensive and in direct violation of usury laws in several states. As is represented by this action by the FTC, Western Sky Financial cannot hide behind the protections provided by the Cheyenne River Sioux Tribe and also require its non-tribal customers to submit to court actions within its tribal court. |
So do yourself a favor and mark my account as paid in full. I have educated myself on Western Sky and their illegal practices.
Govern yourself accordingly....
[COLOR=#1F497D][FONT=Calibri][/FONT][/COLOR]
i'll go one better
include this in your response.
btw thanks for acknowledging you didn't originate the loan.makes it easier to dispute.dumbies.
include that or something like it.
