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Indiana - online PDL Troubles

Date: Wed, 09/05/2007 - 07:59
Submitted by BikerGirl on Wed, 09/05/2007 - 07:59
Posts: 89
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I live in Indiana and I have taken out several online PDL's. A few of them have just charged me the interest for over a year now. I am in a trap and can't seem to get out of it. $300 a week is taken out of my checking account and that is just the fees. The companies I deal with or have Dealt with are Cash Direct, Up Front Pay Day, Paycheck Today, Discount Advances, Interim, Instant Cash Til Pay Day, One Click Cash, MTE, and Zip Cash. Any suggestions would be helpful.


Well just got off phone with paychecktoday, I spoke to them last week and they were very rude and wanted to settle for $300, I have paid $180 on it so far. Today the guy offered a settlement of $210, I again said I am only obligated to pay $159 per the laws of Indiana. Then he went on to say that you people borrow this money and then don't want to pay it back, blah,blah,blah... He stated that I would have to deal with collections, told him to turn me over to them.


Submitted by BikerGirl on Mon, 09/17/2007 - 09:04

BikerGirl

( Posts: 89 | Credits: )


Just got this email from paychecktoday.

Quote:

Your last payment was returned. We are now offering you a settlement on this account prior to sending this to the credit bureau and a third party collector. We attempted to contact you on several occasions with no success. Your listed balance with us is $420.00 If you can make a payment of $260.00 we will close out this account. Please advise asap. This offer will be voided after 09/21/2007. We do not accept mailed payments, only:
Credit or Debit cards- Visa or MasterCard only





Please respond with method, amounts, and dates of payments asap. Thank you.

and here is my response....

You have attempted to contact me with no success???? I just spoke to you today and I spoke to Lamar and Mark on Friday, September 14th. I have reported your company to the Better Business Bureau as well as my state Attorney General's office. I am agreeing to pay you $159.00 to close this account out. Legally, I am not obligated to pay anything back because your company is in violation of Indiana IC24-4.5-1-201. which requires lenders to be licensed, and to comply with INDIANA LAW when making loans to Indiana residents, violation of Indiana IC24-4.5-1-201(8) which states if a creditor has violated the provisions of this article that apply to the authority to make consumer loans (IC24-4.5-3-502), the loan is VOID and the DEBTOR is NOT OBLIGATED TO PAY either the PRINCIPAL or LOAN FINANCE CHARGE set forth in IC24-4.5-5-202. Why don't you contact our Attorney General's office of our Department of Finance and see what they have to say. You can either settle for $159 or nothing!!! It's up to you.








Paychecktoday


Submitted by BikerGirl on Mon, 09/17/2007 - 09:33

BikerGirl

( Posts: 89 | Credits: )


Got my $1000 check from whistler, woohoo. Also got a call from Nationwidecash and they are settling with me for $100, and I offered $170, he kept saying what a good customer I have been too, lol. Sending them a Cashier's check in the morning. Got three left and out of the three, Paycheck Today and Interim Cash are wanting to play hard ball. I haven't heard a peep out of MTE yet.


Submitted by BikerGirl on Mon, 09/17/2007 - 16:25

BikerGirl

( Posts: 89 | Credits: )


You talking about MTE, are they difficult to work with? Wondering where I will get with them. I only made one $90 fee to them on a $300 loan. I am offering a settlement of $249 hoping they will accept.
Wow, I can't believe I started with 10 pdl on Thursday and I have three left that I have got to battle. Thank GOD they all weren't difficult.


Submitted by BikerGirl on Mon, 09/17/2007 - 16:45

BikerGirl

( Posts: 89 | Credits: )


Okay, hate to break the news, but PayCheckToday is a d/b/a of MTE. They are not going to settle for what you offered. I can bet money on it. They're going to want more (even if you overpaid) to "settle". If you refuse to settle for their amount, they refuse to continue to negotiate with you. So, PayCheckToday is going to be a tough one. Your letter probably pissed them off, so they're really going to try to pull something on you. Be very cautious. Your other MTE - which d/b/a is it that they are using? There are over 20 d/b/a's they use. Which one is it? Probably one I've dealt with. LOL!


Submitted by cannr on Mon, 09/17/2007 - 17:41

cannr

( Posts: 9317 | Credits: )


Well, I spoke to MTE and they said they didn't get my letter, so I faxed again. Spoke to a B%$#H named Kelsey, she was mean to me!! I just told her I would refax the letter. I have had a few loans with this company that I paid off, so why would they be soooo mean to me, I think they got enough money out of me anyway. I may just tell the others that don't want to negotiate with me to go F!@# themselves!!


Submitted by BikerGirl on Tue, 09/18/2007 - 06:53

BikerGirl

( Posts: 89 | Credits: )


Here's my letter from

Quote:

MTE FINANCIAL SERVICES

FAX: 866-668-0535

Email: compliancedepartment(at)mtefs.com

uuu

September 18, 2007

RE: Your Complaint

We have received and reviewed your correspondence regarding your complaint with the company.

While the information that you have collected may apply to companies that have physical locations in your state, it is our opinion that it does not apply to our internet business model. This is based on sound advice from our legal department. In addition, the Legal Disclosures provided for customer reference at our website state the following:

Regardless of where you may be viewing or accessing this site, you as the borrower are responsible for complying with any local statutory obligations that may exist in your state or area with respect to this transaction. The Federal laws governing this consumer loan agreement may differ from the laws of the state where you reside. If you do not want to enter into a consumer loan agreement with us under our terms, then you should apply for a loan at a provider located in the state where you live.

The money was lent to you in good faith with the understanding that you would abide by the terms detailed in your loan contract. We upheld our end of the agreement by crediting the funds to your account in a timely manner. The Loan Note and Disclosure that you e-signed and thereby agreed to is very detailed and clear so as not to cause any confusion to the borrower, and meets all the Truth-In-Lending and Reg Z requirements as prescibed by Federal statute.

Upon review of your account history, you clearly knew all terms and conditions of your loan as you have been approved for loans in the past and have applied on many occasions for additional lending. We have all legal contracts you e-signed, which you agreed to terms and conditions of the loan.

Due to the fact that you have revoked authorization on our debits, no further debits will be made from your account.

Due to your long history with our company, and in the interest of good customer service, we have agreed to waive all finance charges currently due on your loan. We will expect complete payment of the principal amount owed.

The Lender will be prepared to provide you with the information necessary for repaying the $300.00 that we loaned to you. Payment must be received by you in the form of a Cashier????????s Check or Money Order payment. We expect this offer will bring us to an amicable resolution.

Please acknowledge your understanding and acceptance of our proposal if you are in agreement with the offer detailed above, and advise which payment method you will use. Once your acknowledgement/agreement is received, we will provide you with the information needed to make the payment. Once we have received this payment, we will mark your account "Paid in Full."

If your response is not received within seven (7) days of the date of our offer, the offer will become null and void and collection efforts will resume.

Thank you for your time and consideration in this matter.

Respectfully,

Compliance Department

CC/file

Here's my response....

Since I am a repeat customer (meaning you have received adequate funds from me in the past), should be taken into consideration!! According the Attorney General of Indiana you must have a license in the State of Indiana to make loans to residents of Indiana. I am willing to settle this account for $249 immediately to get a paid in full and to never hear from you again! Think about how much it costs to hire attorneys, collection agencies, and that extra person to make harrassing phone calls, etc.... Also, not to mention the complaints I will file with the FTC, AG, and the United States Financial Department! So in the best interest of your corporation or whatever you call yourselves, settle for $249 and save yourself a bunch of money and time in the process. I look forward to your response


Submitted by BikerGirl on Tue, 09/18/2007 - 19:09

BikerGirl

( Posts: 89 | Credits: )


Then I sent this to them and asked them for their license number so I can look them up.

Quote:

NOTICE TO UNLICENSED INDIANA LENDERS WHO ARE SOLICITING
BUSINESS IN INDIANA
Investigation by the Indiana Department of Financial Institutions (???????Department???????) has
determined that your company is among several unlicensed entities making or offering
consumer loans to residents of Indiana via the internet.
Depending on the type of loan being offered, your company is in violation of IC 24-4.5-
3-502 and/or IC 24-4.5-7-102. These statutes reference consumer loans, and/or Small
Loans (commonly referred to as ???????Payday Loans???????) and require a license issued by this
office in order to make these consumer loans.
During the recently concluded session of the Indiana General Assembly, there was a
change to the statute governing the territorial application of the Indiana Uniform
Consumer Credit Code, including the Indiana Small Loan Act. Effective July 1, 2007, IC
24-4.5-1-201 requires internet lenders to be licensed, and to comply with Indiana law,
when making loans to Indiana residents. Additionally, IC 24-4.5-1-201(8) reads ???????If a
creditor has violated the provisions of this article that apply to the authority to make
consumer loans (IC 24-4.5-3-502), the loan is void and the debtor is not obligated to pay
either the principal or loan finance charge, as set forth in IC 24-4.5-5-202.???????
You are advised to Cease and Desist the offering of these types of loans to Indiana
residents unless/until you have obtained the proper Indiana loan license. Consumers will
be advised that these loans are not in compliance with Indiana Statutes and that these
loans are considered null and void, and as a result, uncollectible. Additionally, the
Department may seek injunctive relief under IC 24-4.5-6 in the event of continued noncompliance.
All Financial Institutions operating within the state of Indiana will be advised that
electronic payment and / or paper/check transactions connected with these illegal loans
should be rejected if an entity is unlicensed. Consumers will also be advised on the
procedure to stop electronic debits to their accounts using return codes.


Submitted by BikerGirl on Tue, 09/18/2007 - 19:40

BikerGirl

( Posts: 89 | Credits: )


I see they are offering to waive any fees and ask only for the $300 principle amount. You are offering $249? Is this because you have made a payment towards the $300 borrowed?


Submitted by cannr on Tue, 09/18/2007 - 19:59

cannr

( Posts: 9317 | Credits: )


Also, which d/b/a is it of MTE that sent you this email offer?


Submitted by cannr on Tue, 09/18/2007 - 20:00

cannr

( Posts: 9317 | Credits: )


Got a message left at my work yesterday from Interim. They can call me there all they want, I'm outside sales and not in office very much. I called them today and they answered the phone Route 66. They offered to settle my loan for $300 and I only borrowed $225 and I have paid $115 already. Told them I would settle for $143.75 which includes the allowable interest they can charge by my state guidelines. The man was british sounding or something he said they would not accept that so I hung up on him. I am reporting them to BBB and the AG today.


Submitted by BikerGirl on Wed, 09/19/2007 - 12:31

BikerGirl

( Posts: 89 | Credits: )


biker, your mte will NOT settle with you for your requested amount (which is the legal amount). They are nasty, nasty. And Route 66, oh honey. Don't talk to them on the phone. Horribly illegal. You should have already filed complaints on them. Be sure you file against them with your state AG and especially the FTC. Very important.


Submitted by cannr on Wed, 09/19/2007 - 13:32

cannr

( Posts: 9317 | Credits: )


biker, I bow down to you. You got MTE to accept your settlement amount AND to use money order/cashiers check. OMG. :shock: I do believe you have made the "history book" on this one. I can not stress how friggin happy I am for you. One less jack ass to deal with. You go! :D


Submitted by cannr on Wed, 09/19/2007 - 18:54

cannr

( Posts: 9317 | Credits: )


Quite a few. I'm sure you'll hear from them tomorrow!


Submitted by cannr on Wed, 09/19/2007 - 20:12

cannr

( Posts: 9317 | Credits: )


Got an email from Interim Cash today, they are again refusing to settle and asked that I contact them. I contacted them and spoke to Hasan or something like that. He told me that they wouldn't settle for the amount I am asking, I then told him that I was going to get an attorney, he kept trying to say we want to work with you, well not now... Cause I am not paying them crap!! Here's my letter back to them...

My interest payments were WEEKLY, how do you go home and sleep at night? I paid you $115 in 2 weeks time, that is ridiculous! You are ripping people off and you WILL be stopped!! Another interesting fact is that I should have received a copy of the loan agreement, which I never saw. Since you won't settle for the LEGAL allowable amount set forth by the lending laws of my state, I have no other choice than to seek legal action against your company. I also have reported your company to the Attorney General's office, Federal Trade Commission, and to the Better Business Bureau in which you have an unsatifactory record with, hmmmm wonder why that is?

You are also hereby notified that you are to only respond to me via cell phone number, my email address, or through the United States Postal service.


Submitted by BikerGirl on Thu, 09/20/2007 - 10:38

BikerGirl

( Posts: 89 | Credits: )


Isn't Interim one of the unlicensed/illegal pdl's?


Submitted by cannr on Thu, 09/20/2007 - 10:44

cannr

( Posts: 9317 | Credits: )


Biker girl, i filed all my BBB complaints on the same day. I filed 8 and have only gotten 3 responses so far. It has been three weeks since I filed those. As for the AG and FTC, I recently filed those becuase I gave my pdl's until September 12 to settle with me. I know for some it has taken awhile. Do not get frustrated. You are doing great on this. Mine have been worth the wait.


Submitted by RoxyNY on Wed, 09/26/2007 - 05:51

RoxyNY

( Posts: 4178 | Credits: )


I just filed my complaints last week and the week before. I got one response from BBB saying they have sent a letter to one of the companies.

Hess from Interim Cash called me today, again asking me for $300 to settle my loan. I have already paid them $115 on a $225 loan. I told him I was talking to an attorney. He told me not to waste my money and that they want to work with me, but they arent wanting to settle for the $143.75 that I legally owe them. He then ended saying that he wanted to take a look at the file and get back with me. I told him I wasn't paying them $300.


Submitted by BikerGirl on Wed, 09/26/2007 - 06:34

BikerGirl

( Posts: 89 | Credits: )


biker, sometimes the BBB doesn't get such "wonderful" responses. Keep holding out for the legal amount owed. The pdl is going to keep bothering you. However, once the state AG contacts them, they might change their tune a little bit. Some pdl's will respond real well just to the BBB. Others will not. The state AG will usually get a response from them. You're going great. Stick to the legal amount. You go! :wink:


Submitted by cannr on Wed, 09/26/2007 - 08:12

cannr

( Posts: 9317 | Credits: )


Woohoo, just got a call from the Indiana Department of Financial Institutions and was advised any of my loans that I obtained after July 1st 2007 are not collectable and that I do not have to pay any of those companies back. He also told me that if they continue to harrass me just tell them to take me to court and he says they will not win.


Submitted by BikerGirl on Tue, 10/02/2007 - 09:57

BikerGirl

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