Final Notice from CPD on mycashnow and discount advances...
Date: Mon, 12/17/2007 - 08:28
Look what CPD sent me....
Removed for your protection - Goudah
Quote:
YOUR LOAN WITH MyCashNow IS SERIOUSLY DELINQUENT. IF YOU CONTINUE TO IGNORE THIS DEBT, WE WILL HAVE NO CHOICE BUT TO REFER THIS ACCOUNT OVER FOR FURTHER COLLECTIONS. This letter serves as notice that this is a payday loan, and service charges are accrued each day, until the account is paid in full. You have been given ample opportunity to pay this loan. In an effort to maintain our commitment to assisting those in immediate financial need, MyCashNow extends this ONE-TIME opportunity to resolve your $ 850.87 debt with our company by paying a settlement amount of $ 444.39. Any money received less than the settlement amount in full within 10 days or calling this office with acceptable payment arrangements will not hold your account in our office. Failure to pay this settlement amount will result in your debt being reported to the Credit Bureau, which will show for a minmum of 7 years, and Teletrack Systems. If you have paid your account in full, please disregard this notice. Please call our toll free number, 866-645-1661, if you have any questions concerning this notice. Office hours are from 9am to 6pm Eastern Standard Time. Your failure to respond to this final notice will result in the account being turned over to another source for additional collection efforts in order to protect our interest in this matter. THIS IS AN ATTEMPT TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE. |
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I called them and told they are not licensed in AZ and could not legally collect this debt. She replied I can tell that to the judge. Also she told me to FAX over the state law to them so she could refer it to the proper authorities. If they tried to take me to court, they will lose the case. I am prepared to file a motion to dismiss the case and it would be dissmissed since they can not collect on this in AZ. I have paid 150 bucks each so far on the two 300 dollar loans.
I would be careful about posting something in a public forum tha
I would be careful about posting something in a public forum that had my full name and loan number on it.
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Yoy have at least a moral obligation to pay back what you borrow
Yoy have at least a moral obligation to pay back what you borrowed with whatever interest is permitted by law.
Well, under AZ law, any payday loan company who is NOT licen
Well,
under AZ law, any payday loan company who is NOT licenensed can not collect either principle or interest. This company is not licensed and therefore can not collect..I will offer to pay rest of the priciple back..
I would concur with frog and recommend you communicate with them
I would concur with frog and recommend you communicate with them only in writing. Offer to pay back the principal and include the laws in your letter.