In 2007 I took out a loan with CashCall. Due to finances I stopped paying in 2009. In The spring of 2010, I recieved a communication from Delbert Services that they now had the account. I sent the Debt Validation and Cease and desist letter using a template from this site. The response did not come from Delbert but from CashCall. In addition to all account info, the letter indicated that the account was now with Delbert Services.. But there was a problem: in my letter I had asked for documentation that Delbert was licensed in my home state of Florida. There was nothing in their response addressing this issue. Over the past two years I have recieved numerus settelment offers from them but have not responded because I did not believe they were licensed here. . Last week I recieved another settlement offer, but yesterday I recieved a different communication in which they are threatening to move ahead and posibly take me to court. My last payment was in the fall of 2009 to cashcall.
I have two questions:
1.CashCall loans are or were funded by the National Bank of Delaware. The APR is 59% . If I understand it correctly, Florida Ursury laws do not protect me since its a bank and they can charge what ever APR they want. Is that correct?
2. What are my rights since they failed to give me their Florida license info? After recieving their communication a few days ago, I researched I found they are licensed. But aren't they required to give me the info if I request it in a timely manner? ( its been two years since I requested).
My request in 2009 was sent via certificated mail.
Looking fot advice.
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