CashNetUSA was paydayloan now CSO
Date: Sun, 04/10/2011 - 12:58
Then in October of 2010 they gave me a "line of credit" for $1,500.00. This is a CSO loan.
I currently owe them $1,600.00 on this CSO. However, since I overpaid the payday loan by $5133.43, can't the $1600.00 CSO balance be deducted from the overpayment? To me, they would still owe me over $3500 in overpayment.
Can anyone address this?
Tough situation...but you might let the CSO know that as you had
Tough situation...but you might let the CSO know that as you had overpaid the earlier loan so you won't pay the line of credit. You need to check out what the CSO has to say in this matter. It will be completely the CSO's discretion as to whether or not they will agree to it.
CashNetUSA is licensed in the State of Maryland as an installmen
CashNetUSA is licensed in the State of Maryland as an installment loan provider. However, the interest they charged me from 02/12/10 to 10/15/10 is approximately 600% APR. In the State of Maryland the rates a lender may charge in interest on a loan are not to exceed 33% APR. How can it be at the lenders discretion if it is clearly in such excess of the State's laws?
When CashNetUSA is operating as a CSO, the "interest" you're bei
When CashNetUSA is operating as a CSO, the "interest" you're being charged is listed separately from the "fee" you're being charged for "processing" the loan. This is the loophole. This is how they get around the usury laws. To the original poster...I'm not sure what you mean about overpaying previous loans. Are you in Maryland? I can't tell if you and the 3rd poster are the same person as you are both unregistered.
