Okay, I've received my first response from the letters I sent out... Its from Impact Cash, I haven't paid them anything yet, but they want me to still pay the amount of $260 to "settle", but I only borrowed $200. I can't send them a full $200 now, any suggestions on my response to them? Thanks for all the help, I truly could not get through this mess without the people here...
Here's their response:
"We are sorry to hear that you are not satisfied with the experience you have had with our company. We are willing to settle with you on your account for the amount of $260.00, which is the principle balance of $200.00 plus one fee of $60.00 for the cost of processing and funding your loan. I have included the Ohio state laws that you are referring to below.
Ohio Rev. Code Ann. Ã‚Â§Ã‚Â§ 1315.35 et seq.
Maximum Loan Amount: $800
Loan Term: Max: 6 months
Maximum Finance Rate and Fees: $10/$100 + 5% per month
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%
Our payment mailing address is;
Impact Cash USA
PO Box 3206
Logan, UT 84323
Impact Cash USA
1-800-707-0102 ext. 8005
Monday-Friday, 8-5pm (MST)
accountservices (@) impactpayments.com
*You must notify this office within 30 days after receiving the first notice if you dispute the validity of the debt or any portion thereof or the office will assume the debt is valid. This communication is from a debt collector. This is an attempt to collect a debt. Any information obtained will be used for that purpose.*"
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