Help with pay day loans

I am happy you were able to work thing out. Keep us posted.

I noticed on this message string that Cash Transfer Center is referred to as "illegal", and then on another string MTE is referred to the same way. If these pdl's are ILLEGAL why are they still in business and why isn't there an easier way to get some/all of the exhorbitant interest back on them???

They are still in business because they are not located in the US or they are on Indian Reservations.

The government can not step across the borders and force them to give the money back.

There is no "internet" law that can block them.

Quote:

Please help me with the next step i should take. I have paid them over and over the amount of loan. See the email I received today.

Dear xxxxx,
We are in receipt of your letter dated February 18th, 2009. Please be advised that we have ceased all collection activities and all communication by telephone while this account is under investigation.
If you take a moment to review your attached loan agreement, you will see that Northway Financial is
licensed by the government of Malta as a financial institution, and the law of Malta, not the state of Nevada, applies to its terms. We provided you with this notice so that you would understand the terms of your loan.
We are prepared to offer a repayment arrangement in the amount of two (2) equal payments of $200.00 as payment in full of your outstanding loan. This represents the $400.00 loan principle on your current outstanding loan. Once payment has been received, we will consider this account paid in full
with no further obligation. The two (2) equal payments of $200.00 can be made via Western Union or Money Gram, and should be received by May 8th, 2009. We have included the payment information below for your reference.
Alternatively, you may send your payment to the Northway Financial Corporation Ltd. address listed
above.
MoneyGram Express Payment
Western Union Quick Collect
Receive Code
4476
Code City
ECARE
Payable to
ECARE CONTACT CENTERS
Code State
DE
Account
31462034
Payable to
ECARE CONTACT CENTERS
City
(Blank)
Account
31462034
State
(Blank)
Should you have any further questions, please feel free to contact our office with the information
provided below.
Sincerely:
Customer Support Department
Fax: 1-866-772-4556
Email: [email]supportresponse@cashtransfercenters.com[/email]

A good ole CTC.

There are several threads now with this same "line" in it about how the Malta law trumps US law. NOT!

Thread

Send them a statement back that you do not reside in Malta and as such are not governed by their laws.

Stick to you guns and post your state law again and that you are following the laws of your residence and the US.

They throw that Malta law in every email they respond to.

Do as nohiogal stated and stick to your game plan. Best of luck!

:roll: :cry: :shock: I have so many loans and roll over loans that I have screwed up my rent payments and I am going to lose my car my home. I am on long-term disability and I am in the whole by $1400.People will give you these loans and don't educate you on the fees or how repaying the company works. I am desprate trying to find someone who will help me get BACK ON MY FEET and I have no where to turn.I have so much debt and have ran out of companies who will loan to me. WHAT DO I DO??????? Does any one have any suggestions or other canadian companies who will give me a LOAN TO PAY A LOAN!!!! Thanks Becca ottawa/ontario :? :twisted: :evil: :oops: :oops: :oops: :(

Please help I had a payday loan with CTC and sent them the debt validation letter and the left me alone it has been over 1 year. I just pulled my credit and it has a charge off from Northway Financial (Malta) any advise on how to proceed?