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talking with payday lenders.

Date: Wed, 05/03/2006 - 16:41

Submitted by pierson32
on Wed, 05/03/2006 - 16:41

Posts: 20 Credits: [Donate]

Total Replies: 17


It is true that some payday lenders will work with you if you are having some pRE: Customer Issue: Past due account payment arrangements [482278:244570]


Curtis

Your loan is currently 40 days past due with a balance of $245.71.

I am willing to settle with you for $150.00 by 05/26/06. Please let me know if you will accept this offer.


You may send money orders to:

PayDay Select
P.O. Box 852
Ruidoso, NM 88345

We also accept Western Union Quick Collect (they charge a fee of $12.95), request the blue form and:

Pay to: PaydayOne
Code city: PaydayOne
State: TX
Acct: SS# or Phone#

You can make payment with a credit card by calling toll free 1-866-701-5370


Thank You,

PayDay Select Account Service Team
accounts(at)paydayselect.com


problems. Check this out.


this is what magnum sent me.Your loan

Quote:


Dear Mr. Hayden:

I have attempted to contact you at work, but the party with whom I spoke stated that you could not be taken from the production floor to receive a telephone call. When attempting to leave a message on your home telephone, I received an erratic busy signal (270- 803-****). Regarding your loan with Magnum Cash Advance, please allow me the opportunity to respond to your questions.

MCA is a Licensed Delaware Lender. As was specifically stated in your loan agreement, the loan was provided in accordance with the Laws that govern licensed lenders in the State of Delaware. The choice of venue was stated in your loan agreement as the State of Delaware. In addition to stating this information in the contract, access to these terms, along with the link to Delaware lending Law, is clearly located at the bottom of our web-page (Disclosure and State of Delaware Lending Laws).

Our only physical location is in the State of Delaware. The loan was approved and funded from the State of Delaware. We have no branch offices or representatives in any other state. We do not advertise in any local media outlets. Our status and activity as a licensed lender is in accordance with the stated public policy of the State of Delaware. We are not governed by the laws of any other state.

I hope this information resolves any questions which you may have in this matter. if I can be of further assistance, please contact me at my private direct number at 302-351-7402.

Very truly yours,
Thomas A. Kane, President
Magnum Cash Advance
1403 Foulk Road, Suite 203
Wilmington, DE 19803

Personal info removed for your safety - Mike


lrhall41

Submitted by pierson32 on Wed, 05/03/2006 - 17:32

( Posts: 20 | Credits: )


OH MY!! Thank you for posting that letter. I just found that a company we had a loan with, that only lent to military, is the SAME company as Magnum. Very interesting. If the link is the same one as on their other site, it just goes to title 5 of DE code, the section pertaining to how and what records they must keep. And they can keep asserting that they are not subject to VA law, but as Military Financial they DO advertise in VA. I recognized the address, and I also have received a letter signed by Mr. Kane lol.

Also, they are licensed as a small loan lender, with a limit of $500 per loan. Under Magnum they will loan up to $1200, and under Military Financial they will loan up to 40% of a service member's net pay.

I need to make some calls tomorrow....


lrhall41

Submitted by set4sail on Wed, 05/03/2006 - 18:22

( Posts: 412 | Credits: )


pierson32

has Magnum violated any of this in their collection practices?

http://www.cfsa.net/genfo/egeninf(dot)html

On their site, they have listed that they belong to a voluntary association of pdl companies, and each member is supposed to follow the list of guidelines. If they aren't, report them.


lrhall41

Submitted by set4sail on Wed, 05/03/2006 - 18:33

( Posts: 412 | Credits: )


I took out a payday loan on 2/16/07 for $300. I was to repay $390. I defaulted and was unable to pay. Today, I agreed to pay the loan, with making payment arrangements. VC Funding located in Leawood, Ks now says I owe $763.90. They would not accept any arrangements. Stated I pay the $350 today by 4p.m. And if not they would file criminal charges against me for interstate bank deposit and applying for a payday with the intent to not pay. I called the State of Michigan, after locating information on-line pertaining to Michigan law. VC Funding is not license in Michigan and the database has no information pertaining to me with any loan with them. Can they file criminal charges against me and can I still send a payments until the loan is paid to them.


lrhall41

Submitted by on Wed, 05/23/2007 - 20:28

( Posts: | Credits: )


I have a similiar situation in that an attorney's office called me at work telling me that I would be served with felony criminal charges if I did not pay $200 today and then setup a payment schedule over the next 12 weeks. He said that what I had committed was Electronic check fraud because the account I used to get the loan was closed before the entire payment schedule. Is this true? I was caught off guard and agreed to pay the $200 and the balance of the payments would be debited from my account. He was very convincing as he told me to verify his statements with my own attorney.

Everything I have read on-line states that criminal charges cannot be filed against me for this in Michigan. The company I used for the lending purpose was Vince Enterprises (BMG Marketing Group?) and I believe they are not licensed in Michigan. Can I include this with my bankruptcy and how do I get away from paying the future payments?


lrhall41

Submitted by achavez2917 on Wed, 10/22/2008 - 15:31

( Posts: 3 | Credits: )