logo

Debtconsolidationcare.com - the USA consumer forum

Forums
  • Latest topic

CFSA/CSO I think I got screwed

Date: Wed, 08/26/2009 - 17:45

Submitted by anonymous
on Wed, 08/26/2009 - 17:45

Posts: 202330 Credits: [Donate]

Total Replies: 11


Hello all,

Recently I applied for a $300 CNG payday loan online (I reside in Ohio). I should've known something was up, as I did not receive any documentation. Unfortunately, I was unable to make the first loan payment, so I extended my loan for the extra $80. Then I found this website. CNG is a CFSA registered firm, so I asked for an EPP through email and also requested my loan documentation. I was denied for the EPP as my loan was serviced through a CSO and no documentation was provided. According to http: //codes.ohio.gov/orc/4712.01, CSO's are not allowed to disburse loans in the state of Ohio. I called the customer service line, and read them this law, and was immediately hung up on. My loan is due next monday, and I'd rather not fork over another $80 if I don't have to. I have started the process of filing the 1000 complaints I need to. But I need your expert advice on whether or not I am in the right here.


I sent them an email warning them of the claims I have filed with the CSFA, FTC and Ohio Finance Regulatory people. I told them they do not have the right to debit my account or garnish wages until the matter gets resolved and any attempt to do so will be met with legal action. I also offered them one last chance to accept my terms of EPP @ $50/ month for 6 months, or I would see them in court, me being $300 richer.


lrhall41

Submitted by on Wed, 08/26/2009 - 21:17

( Posts: | Credits: )


I would question some things here. The first question would be if you were really dealing with CNG or have been duped online. If you are dealing with CNG, then you do not have a PDL, but another product. And lastly, are you sure that you entered your address correctly, meaning that the state was correctly?


lrhall41

Submitted by PDLOwner on Wed, 08/26/2009 - 21:26

( Posts: 1049 | Credits: )


I have had a lot of the same problems with my payday loans, I sent out all the letters certified mail and everything. I never recieved anything from any of the companies in return and they are not willing to send me any documentation. They did however stop calling me as I stated to do in the letter.


lrhall41

Submitted by mlg87ok on Thu, 08/27/2009 - 11:16

( Posts: 41 | Credits: )


Also wondering about CSO's in Ohio... Any info would be great! I have 6 PDL's all internet originated. A couple of them make reference to CSO's and CSO fees in the contract. I signed on last night with OVLG and am wondering how to get out of paying on the loans until my OVLG help gets going. Any thoughts? The whole process scares me!


lrhall41

Submitted by mrsanthony2 on Fri, 04/02/2010 - 10:22

( Posts: 7 | Credits: )


Quote:

Originally Posted by Alicia Anthony
Also wondering about CSO's in Ohio... Any info would be great! I have 6 PDL's all internet originated. A couple of them make reference to CSO's and CSO fees in the contract. I signed on last night with OVLG and am wondering how to get out of paying on the loans until my OVLG help gets going. Any thoughts? The whole process scares me!

They are illegal because of the new law that went into affect in Ohio banning payday loans that charged more than the an interest rate of 28%, read the payday loan laws below:
  • Log in or register to post comments

    • lrhall41

    Submitted by Shazzers on Fri, 04/02/2010 - 13:12

    ( Posts: 17344 | Credits: )