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email from Eastside...

Date: Wed, 09/08/2010 - 12:01

Submitted by anonymous
on Wed, 09/08/2010 - 12:01

Posts: 202330 Credits: [Donate]

Total Replies: 10


this is an email i got from eastside....what is the advice...i live in Louisiana

East Side Lenders is responding to your correspondence regarding the above-captioned account.

East Side Lenders, which is located in Delaware, is licensed by the State of Delaware to make small loans. All such loans are approved and funded in Delaware, with repayment to be made in Delaware. The East Side Lenders loan agreement and website contain all disclosures required by Delaware and federal law and make it clear that all transactions are governed by Delaware law. On the advice of counsel, East Side Lenders maintains that the choice of Delaware law as controlling in the loan documents would be upheld, as all of the significant contacts in the loan transaction occur in Delaware. The loan agreement is legal and enforceable. In responding to your correspondence, East Side Lenders notes and reserves all available legal and equitable objections to the points you have raised.

East Side Lenders provided this service as a convenience to you. We still consider your loan to be outstanding and are prepared to go to arbitration as provided for in the Loan Agreement between us. As an alternative, if you are experiencing financial hardship, we will be happy to speak to you about payment arrangements through which you can successfully meet your payment obligations. East Side Lenders will consider doing so because of our continuing commitment to servicing our customers and not because of a legal obligation to do so.


Quote:

Originally Posted by paulcahill80
East side Lenders is not licensed in Delaware. The letter has all sorts of BS. They are illegal in your state as well. Take this letter and file cases against them with your states' AG.


Well, I must correct you, because I just got off the phone with a Fred Lowden from the DE Banking Commissioners office, and he says he DOES have East Side Lenders as being licensed. They also have a public contact person as being a Kristy Finazzo at 302-351-5274. If anyone has complaints about East Side, Mr Lowden says go ahead and file a complaint and they will see what they can do, but again, the correction is that they are licensed. Not only that.... he said that they are licensed to do Deleware business, so if someone drives over to DE to take out a loan then they are subject to DE law. He says that the way the Banking Commissioner looks at the internet is....its the same a if someone drove to DE to take out a loan. He understands the conflict that states may have, and suggests that wherever consumers live, they get their AG office involved, because its going to be YOUR local AG's office that is going to have to protect your rights. He was very nice, and really opened my eyes on a lot of things.


lrhall41

Submitted by on Wed, 09/08/2010 - 13:10

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Quote:

Originally Posted by paulcahill80
Okay, I correct myself here. Eastside Lenders is licensed in Delaware. But it don't make them legal in your state.



I get that....i'm just trying to get my ammuniton together, thats all, i was about to send them an email, stating that they were not licensed, but i decided to just follow up and check. I am now waiting on a call to my AG's office to se what their position is on the matter.....

I am thankful for this forum, i just wanted to let people know what i had found out...just sharing information :)


lrhall41

Submitted by on Wed, 09/08/2010 - 13:35

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They are licensed but file a complaint with the DE BBB, Rose Hawkins!!! She will send your complaint to Christy Finazzo, who is a manager at Eastside. I complained to the DE BBB and within 1 week I received a PIF and a refund!!! No joke!!! I received the same email as you but kept pushing!!! Christy was nice, I went back and forth with her eventually in emails because originally she issued me a PIF but denied the refund. I kept pushing, now it is nowhere near what the owe me but it was something so I was happy! Bombard the DE BBB!!!!!!!!


lrhall41

Submitted by ballplayersmom on Thu, 09/09/2010 - 06:12

( Posts: 365 | Credits: )


I have been working with my state (Maryland) Department of Financial Regulation office. Come to find out, the state of Maryland is filing a case against Eastside Lenders. I too received the same email at the beginning of the thread this morning. I am not physically speaking with anyone with any of my PD lenders. All mine have been turned over the MD DFR office for investigation and I have been instructed to give the lady's name and phone number to them which I do, in writing. I want to through the lawsuit at the lady in my email so bad but I don't know if the company has been served yet, so I don't want to mess anything up. :o

People have been talking about a PIF letter. Is there a format that people have been using or are you just winging it? Since the account has been turned over, should I still proceed with a PIF letter? I received $500 and have paid $675.


lrhall41

Submitted by Karen Wilder on Thu, 09/09/2010 - 11:11

( Posts: 10 | Credits: )