Date: Tue, 09/09/2008 18:59
Today I received the following response from usfastcash to the BBB regarding a complaint I filed against them:
Ms. xxxxx is a returning customer, and at the time of the application the terms and conditions were presented and she had the opportunity to print them at that time. She had to answer a question whether she understood the terms before we could even receive the application to process. In addition, there was a 48-hour time frame the customer could cancel the agreement without incurring a fee. Before each debit we sent an account summary, which explained the terms once more, and all of the options for repayment. This form was emailed at least 10 days before each debit; it also included our customer service number to ask any additional questions. We also have a direct email link on our website to answer any inquiries. If the customer had wanted to avoid additional fees, they needed to pay the full amount due on the first debit due date, which was in the original contract, as well as the account summary emailed to the customer very shortly after the funds were placed in their own account, for their own use, at their request. The original loan documents can be faxed directly to the customer once we are given a fax number to send them to.
The customer only called us once on 07/28 to say the payment would not be there, per our company policy we cannot change the first due date on any agreement due to fraud policies in place, then she revoked authorization, PER THE CONTRACT, SHE AUTHORIZED A PAPER CHECK TO BE ISSUED ON HER ACCOUNT.
We have asked for all collections to cease at this time, and we will offer this customer a one-time settlement offer on the account. The current balance is $400.00 in final collections; we will reduce this balance to $175.000 (giving her credit for the 75.00 paid toward deposit amount of $250.00 WAIVING ALL FEES) until 09/15/08 only.
This must be paid via Moneygram, instructions as follows:
Moneygram: (available at most Wal-mart's)
Pay to: USFastCash
Receive Code: 4307
City/State: Miami, OK
If the reduced balance is not paid by this date, the collection process will continue per the contract signed, for the full amount due.
Thank you for your time and consideration in this matter.
I don't know what to do with this response because they are only speaking about my current loan. What they failed to mention to the BBB is that I had initially taken out a $200 loan with them, which, in total, I paid $545 towards. After that one was done, I stupidly took out another for $250, to which I only paid $75 before I became enlightened by this site. In total I have paid them $620 towards $450 total in 2 loans. The amount that they could have legally taken me for, per Illinois law, is $519.75.
My questions is, can/should I take this info to the BBB as my response. Legally they owe me money from the first loan. Can I put the amount I overpaid from loan 1 to the principle balance of loan 2???