No response from MyCashNow
Date: Wed, 12/19/2012 - 13:26
Update on my PDL's:
First America Credit (Illegal in TX)- agreed to let me just pay the remaining principal. (no more interest). I am paying them via money order, $76 each biweekly paycheck for 10 paydates.
Plain Green (Illegal in TX) - agreed to let me just pay the remaining pricipal. (no more interest). I am paying them via money order, $102.92 once a month for 10 months.
Responsible Loan (Legal in TX) - stopped the interest and lowered my installment payments to $100 for the 4 that were over $100, and then we will talk about how to lower the remaining 4 if I can't pay the principal off at that time.
PayDayOne (Legal in TX) - worked out an EPP with me for my next 5 paydates.
I had no real issues with any of these 4. PayDayOne and Responsible Loan got back with the the next day after receiving my emai. Plain Green offered their settlement 2 days later. First America Credit tried to say I owed interest, but that they would stop any further interest, but I argued with them, and won. :-)
Now for the remaining 2 -
MyCashNow (Illegal in TX)- I have sent several faxes (their email will not go through), but they have not responded back to me. I know they received them, because if I try to log on, it now says "We apologize. Due to some issues, please contact Silver River Management regarding your account" and gives their number. I am not calling Silver River Management. The email I tried to send I copied Silver River Management, but the email did not go through to MyCashNow. I have not gotten any letters or phone calls from either company. I had a payment due on Friday, but it obviously didn't get paid to them.
The infamous Western Sky/CashCall (Illegal in TX) - they sent a letter to my house reiterating their "tribal" law BS, and I have actually overpaid them on the principal by $280. I stated in my letter to them that I wanted to work in good faith and that if they would mark my account PIF and send me a letter stating so, I would not demand a refund. I reiterated this in my 2nd letter to them after I got the letter at home, and I quoted some facts from the Texas Attorney General and other sites, regarding the illegality of Western Sky, who I took the loan out with, and then they transferred it to CashCall. I have not heard anything back from them in over a week. The first payment that will be returned by my bank will be 12/31/12. I'm sure I'll hear more from them after that.
What should I do about MyCashNow? I offered to pay the principal remaining over my next 5 paydates, and asked for an address to mail the money order to, but as they have not responded, I was not able to send anything. They are illegal in TX, but I do want to pay back the principal that I borrowed.
Yes, I have closed my account and opened a new one. The 2 legal lenders were given my account information, but the illegal ones were not. I will only pay the ones I still owe principal to via money order and Plain Green and Responsible Loan acknowledged my ACH Revocation and stated they had taken my account information out of their system and removed my phone numbers since I said they could only contact me via email or postal mail.
I would really like some advice on what to do about MyCashNow & WS/CC.
Thanks so much for this forum! I've been in this cycle for years, with these same companies, and reading your stories finally gave me the courage to put a stop to my payday loan hell.
Great work!
Wow, I agree with HelpinAZ, you really did your homework. Glad to see you're not letting Western Sky gouge you like they did me... anyways... I have dealt with my cash now in the past myself, I had a few issues when my identity was stolen and I had to close out my bank account, which I forgot to tell them about so I ended up defaulting. I did get a call from silver river and was able to settle the debt with them. after each payment, I checked with my cash now just to be sure it was being posted, and it was. so you may just want to reach out to silver river, they were pretty good about setting up reasonable arrangements. Whatever you decide, good luck!
You have revoked ACH for
You have revoked ACH for MyCashNow, right? If so, just sit tight. There is nothing much for you to do now. You might start receiving annoying phone calls every now and again in a few months time.
Mycashnow is an offshore
Mycashnow is an offshore illegal lender - you should have only paid them principal and on your own terms.. Silver River is only their servicing company for the loan...
Oh, and I calculated my
Oh, and I calculated my savings by the lowered payment amounts, and this is what I will have saved when it's done:
Ones I have worked out payment plans with:
Responsible Loan - $135
PayDayOne - $561.33
First America Credit - $990
Plain Green - $3,407.92
That is saving me $5,094.25 over the next 10 months right there. (10 months is when I will be done with Plain Green. I will be done with Responsible Loan next month, as I am going to pay them off as soon as I can, and PayDayOne will be done the end of Feb, and First America Credit will be done the end of April, unless I pay them off earlier)
I still owe MyCashNow $737.80 in principal, and with the interest, I had owed them $1,226.15, so I will save $488.35.
I have overpaid WS/CC by $280 ($2,600 loan, I have paid to them $2806.14 as of Nov 30th). By not paying them anymore payments since they are illegal and I've paid them back the principal, this one alone will save me $11,189.48. That is outrageous for the interest! I was just so desperate, I just didn't really consider the long term ramifications of this high interest loan.
Again, thank you for the great forum, as it is what gave me the courage to take a stand with these illegal companies and work out arrangements with the legal ones.
Yes, I revoked my ACH
Yes, I revoked my ACH Authorization with Plain Green, First America Credit, MyCashNow, and WS/CC. Thanks so much for the response!
First let me say
First let me say congratulations on all you have accomplished so far !!!
As for My Cash Now and WS/CC - I would just let those ride for awhile concentrate on the ones you have that are working with you the other two will either come to their senses or get no more money..:)