GFS
Date: Fri, 04/25/2008 - 06:35
I got this letter by e-mail today and I live in NC. What should I do?
Thank you for your response.
Having reviewed your file and listening to the recording of the entire call of October 13, 2006 during which you accepted the loan. At no point did you mention any concerns - in fact you made verbal agreements to all the separate terms and conditions as they were read to you. Because the process was transacted over the telephone, neither party was required to submit any documentation concerning the Agreement. Therefore, we are unable to provide this, however it may be possible to access the voice recording of the sales call.
The agreed terms and conditions were very clear in relation to fee amounts, due dates and the options you would have on those due dates. You could either repay the outstanding balance, or pay a renewal fee to defer the re-payment of the loan balance until the next scheduled pay date. According to the terms of the loan, if a customer does not contact us to pay off the entire loan balance, only the renewal fee is charged. Again, this fact would was been explicitly made known to you at the time of sale, and in emails sent to you prior to your scheduled payment date. This policy operates in our customer's favors, as the customer may need funds in their account to meet other obligations. However, the customer is free to pay the entire balance without penalty at any time.
You also accepted these conditions, during the call, that the loan would be covered solely by the Laws of the United Kingdom as Global Financial Services (G.F.S.), is an international, non-United States based lending operation. If at any time you were unhappy with, or disagreed with, the terms of the loan, you had the option to cancel the application, yet you did not do so.
If you felt that this loan may possibly breach your local laws, you could have cancelled the application. You chose not to do so and completed the application and accepted the loan. We absolutely refute the claims in your emails concerning the lack of validity of this loan.
We have administered the loan account you have with us in accordance with the terms and conditions to which you agreed I would ask that you to pay $150 as full and final settlement of repayment of your debt with GFS. I can further confirm that we will forego our collection attempts on the remaining balance of your account with us.
In order to take advantage of this settlement offer, I would ask that you please respond us at your earliest convenience, but no later than fourteen days from the date of this letter, so that we can reach a satisfactory resolution toward the closure of your loan.
Yours sincerely,
Jenny Wright, Caseworker
Customer Solutions Department
Global Financial Services
1-877-210-9444 Ext 5909
Thank you for your response.
Having reviewed your file and listening to the recording of the entire call of October 13, 2006 during which you accepted the loan. At no point did you mention any concerns - in fact you made verbal agreements to all the separate terms and conditions as they were read to you. Because the process was transacted over the telephone, neither party was required to submit any documentation concerning the Agreement. Therefore, we are unable to provide this, however it may be possible to access the voice recording of the sales call.
The agreed terms and conditions were very clear in relation to fee amounts, due dates and the options you would have on those due dates. You could either repay the outstanding balance, or pay a renewal fee to defer the re-payment of the loan balance until the next scheduled pay date. According to the terms of the loan, if a customer does not contact us to pay off the entire loan balance, only the renewal fee is charged. Again, this fact would was been explicitly made known to you at the time of sale, and in emails sent to you prior to your scheduled payment date. This policy operates in our customer's favors, as the customer may need funds in their account to meet other obligations. However, the customer is free to pay the entire balance without penalty at any time.
You also accepted these conditions, during the call, that the loan would be covered solely by the Laws of the United Kingdom as Global Financial Services (G.F.S.), is an international, non-United States based lending operation. If at any time you were unhappy with, or disagreed with, the terms of the loan, you had the option to cancel the application, yet you did not do so.
If you felt that this loan may possibly breach your local laws, you could have cancelled the application. You chose not to do so and completed the application and accepted the loan. We absolutely refute the claims in your emails concerning the lack of validity of this loan.
We have administered the loan account you have with us in accordance with the terms and conditions to which you agreed I would ask that you to pay $150 as full and final settlement of repayment of your debt with GFS. I can further confirm that we will forego our collection attempts on the remaining balance of your account with us.
In order to take advantage of this settlement offer, I would ask that you please respond us at your earliest convenience, but no later than fourteen days from the date of this letter, so that we can reach a satisfactory resolution toward the closure of your loan.
Yours sincerely,
Jenny Wright, Caseworker
Customer Solutions Department
Global Financial Services
1-877-210-9444 Ext 5909
reply
boy oh boy,i am sure you know all about GFS
whassup.that is insane,they wouldn't know
about the law if it hit them in the grill.
not sure about what you paid them,but if it
is the loan amount or more,you are done.if you
owe try to get an address to send or use prepaid debit card only with the amount you choose.
i just about fell out of me chair,local laws
don't make me laugh GFS.
