Skip to main content

Debtconsolidationcare.com - the USA consumer forum

Illegal Lender Not Responding to Letters

Date: Fri, 11/16/2012 - 08:03

Submitted by anonymous
on Fri, 11/16/2012 - 08:03

Posts: 202330 Credits: [Donate]

Total Replies: 7


I defaulted on a loan from US Fastcash due to family hardships. I live in Alabama and found out they they are illegal. I have send 3 letters to them over once per week over the last month saying the below:

October 29, 2012
To whom it may concern,
Re: Account for XXXX XXXX:
Application Number: xxxxxxxxxx
[FONT=Calibri][SIZE=2][COLOR=red][/COLOR][/SIZE][/FONT]
2nd Attempt at Contact:
Dear Lender,

I am requesting that you cease and desist with your efforts to collect on the debt referenced above

It has also come to my attention that payday lenders must be licensed by the state of Alabama in order to offer loans to its residents. Since your company has no license in my state, the loan contract I have with you is not valid.
[FONT=Arial][SIZE=2][COLOR=red]Although I am not required to do so, I am willing to repay the principal balance of the loan. To date, I have received $300 and have made 6 ???renewal??? payments [ (4) for $90 and, (1) for $140, and (1) for $170.00] Totaling $670.00, which were withdrawn from my checking account. This results in an overpayment of $370.[/COLOR][/SIZE][/FONT]
At this time I am requesting a return email acknowledging that my loan has been paid in full. Also, I would like a refund of the $370 overpayment. A refund check of $370 should be mailed to me at the address you have on file.

At this time I am also revoking authorization for ACH withdrawals and any wage assignment I may have signed.

I have given a copy of these revocations to both my bank and my employer. Any future attempts to collect funds in this manner will be blocked.
[SIZE=2][COLOR=red]Please respond to this email with acknowledgment that my account has been satisfied in full. Details of when I can expect the refund check, as discussed above, should also be included in the email.[/COLOR][/SIZE]
[FONT=Calibri][SIZE=2][COLOR=red][/COLOR][/SIZE][/FONT]
Thank you,

I have not heard from them at all. I have emailed them at their customer service and collections department.

What should I do now?


Are you receiving any e-mails or phone calls from us fastcash? I too am dealing with them.. and they have sent me to recovery. But as far as I know for right now they are not calling. I am wondering if i should send them the cease and desist letter like you did. I have sent them the revoke letter though.


lrhall41

Submitted by drumersgal on Fri, 11/16/2012 - 14:22

( Posts: 42 | Credits: )


I too had a usfastcash loan that I overpaid on, $1,480.00 overpayment. When I closed my bank account to prevent them taking another $180 they started calling calling calling and emailing everyone! I sent them a similar letter via email, fax, and mail. I have not recieved any calls or emails since. When we log onto our account it says its in collections but I think they are just blowing us off.


lrhall41

Submitted by Angeliek_15 on Sat, 11/17/2012 - 06:52

( Posts: 13 | Credits: )