Payday OK sent their reply to my cease and desist letter
Date: Thu, 10/20/2005 - 09:38
Hello,
I received this this morning from Payday OK and thought everyone might find it interesting. I sent them a cease and desist letter.
Also, is this true, they don't have to follow FDPCA?
All of your account information is available online, on your Payday OK account. Throughout your loan history, you have frequently logged on to select payments, so please log on to view your account information.
Also, your loan agreement was emailed to your aol.com email address, and is also available on line.
I will remove your work number, per your request. However, calls will continue to the home number on file while your account is past due.
The Fair Debt Collection Practices Act covers third-party debt collectors. We collect on our own loans, and as such are not legally bound by the Fair Debt
Collection Practices Act, although we do use the fdcpa as a guideline for our business practices.
We do not report our loans to the three major credit bureau's, and as a result, your delinquency has not been reported to them.
I received this this morning from Payday OK and thought everyone might find it interesting. I sent them a cease and desist letter.
Also, is this true, they don't have to follow FDPCA?
All of your account information is available online, on your Payday OK account. Throughout your loan history, you have frequently logged on to select payments, so please log on to view your account information.
Also, your loan agreement was emailed to your aol.com email address, and is also available on line.
I will remove your work number, per your request. However, calls will continue to the home number on file while your account is past due.
The Fair Debt Collection Practices Act covers third-party debt collectors. We collect on our own loans, and as such are not legally bound by the Fair Debt
Collection Practices Act, although we do use the fdcpa as a guideline for our business practices.
We do not report our loans to the three major credit bureau's, and as a result, your delinquency has not been reported to them.
Htgt123, lenders do report accounts to the credit bureaus and th
Htgt123, lenders do report accounts to the credit bureaus and that is why, charged off debts, delinquent accounts are seen on the file. Similarly, after you have paid the complete money, they need to update your accounts as 'paid' so that your credit file is viewed favorably by the future lenders.
My opinion for you is to keep making regular payments to avoid the phone calls and be free from this debt as early as possible. Do not roll your loan amount otherwise you will end up paying only towards the interests. This will become even tougher.
Regards
Roxette
