Hamilton Liberty D/B/A Best Choice 123
Date: Thu, 04/18/2013 - 10:26
"Unfortunately, the information you have received is incorrect.
The idea that we must have a license in your state is a common misconception, especially with regards to payday loans. We are not located in your state, we are located in Nevis. Also, we are not a U.S. company and are not bound by individual state laws.
State statutes regarding payday lenders are for entities residing within your state, typically storefronts, though not always. However, we have no storefronts in your state (or in any U.S. state), and our website does not reside in any U.S. state, it resides in Nevis.
If you visited Nevis and conducted a transaction of this type, you would be bound by the laws of Nevis. In the instance of this loan, that is what you did. You came to our website, which is located in Nevis, requested the loan, and signed the loan agreement, agreeing to be bound by the laws of Nevis and Saint Christopher.
If you are concerned with your ability to repay the loan, we are willing to work with you and we try to be as flexible as possible.
Kindest regards,
BestChoice123.com Customer Service
800-528-8066"
Are they right do I still have to pay this back and abide by their foreign laws? Or what should I do next just ignore them?
The first thing you do is
The first thing you do is revoke any ACH authorizations you may have had with them. After that, if they are still being pains, you will need to close your bank account since it has been compromised and get a new one. Most importantly, do NOT give them the new number. Either way, you will have to get your bank involved.
I would also email them after this has been done, telling them that the gravy train is no longer on the tracks and they are not to contact you, period. If they do, they risk being reported to law enforcement in your state and the FTC. This company is located offshore and will probably email you back, whining about how they are not subject to your state law, blah, blah, but don't be suckered in by them.
Thanks You
Honestly I dont care about a refund I just dont want to pay them anymore since I still own 565 according to them.
Can they come after my credit
Here is the email they sent me back after I told them I was not paying another cent.
"As previously indicated, we are not subject to state laws, only Federal laws. We did not come to you. You came to us and we are located in Nevis, not in the U.S. This is clearly stated in the loan agreement you signed.
We will not contact you again per your request. However, this account will accrue applicable fees and if it is not paid, will be placed in a collection status until it is paid, and will be reported as such.
The current balance owing on your account is $578.50. You could simply pay this and be done with it, and the loan would be closed in good standing.
If you email us and wish us to respond, you will need to specifically request a response in the email, since you have requested no further communications.
Kindest regards,"
How do I fight this I dont want them going against my credit and i am not sure if they can or not.
they can't
they are foreign and illegal.as long as they can't access anymore of your money.ignore them.
because
no offshore(located outside the US)is legal,and since this illegal is in NEVIS WEST INDIES it is illegal in every state.
Tell your bank your account
Tell your bank your account has been compromised - have them send the money back as unauthorized and have them close your account down and open a new one not linked in any way to the old one..
UNAPPLIED FOR PAYDAY LOAN
i applied for a payday loan 3 years ago but then declined the loan 3YEARS AGO...... today i received a credit of 675 dollars to my bank account i didnt apply for this loan its from bestchoice123 what do i do? im not paying for a loan i didnt apply for. im in Michigan
loan
I took out a loan for 725 through bestchoice123.com with the understanding that I would occur a 237.50 finance charge bringing the total amount due to 942.50. I figured it out it will be paid in 4 payments. Im about to make my fourth payment and I check my balance and it shows like 860 something. I called, they said that im only paying 20 towards the principle amount. So I will end up paying over 9500 dollars for a 725 dollar loan!! They wouldnt give me and address and just kept dodging every question about being an accredited buisiness. Dont use them!
Have you followed the steps
Have you followed the steps on how to deal with illegal lenders on this site? If not, highly suggest you do so.
if you didn't apply
If you didn't apply for the loan and it's within a couple of days of the deposit, all you have to do is tell your bank to reject the deposit. The funds will go back to the company and you won't have to pay any fees. Most loan contracts have a "buyer's remorse" clause in them that give you a couple of days to cancel the loan if you change your mind.
If you reject the funds within a couple of days, that same clause is in force.
intent to revoke sent
I too got suckered by this same company and have sent my revocation letter.
I am hereby revokining your ACH rights to my checking account, I have more than repaid the amount loaned to me and have also been informed by legal counsel that your company is not licensed to operate in the US or in the state of Michigan and if you were to be licensed, the terms of the contract would be illegal under Michigan law. The initial payment chart showed 4 payments, and it wasn't until I logged in and saw how you business actually works that I began to research this. I have also spoke with my financial institution and they backed up the above information and advised me to revoke your ACH access immediately.
Please Help
I was in a bind and took out a payday loan from an online lender, BestChoice123. At first I didn't even know what company it was. It was through a "find a payday loan" site and all of a sudden the money showed up in my account but I didn't know which company it was. On the withdrawls there was no company name until the 4th deduction and then all of a sudden "Bestchoice123" shows up. I know payday loans are expensive but I feel I am being excessivley ripped off. They started deducting every pay period (biweekly). The first payment was 230 and then reduced by 6 dollars every withdrawl. I borrowed 700 and I have already paid them back over 1200. I checked the account and my balance is 914!! I already paid back almost double what they loaned. This is ridiculous. What can I do?