ARBITRATION LAWS OF MALTA??? HUH??
Date: Fri, 05/23/2008 - 06:53
Reply by 365fastcash:
The Loan Agreement, to which we have adhered to by funding the loan, detailed that your loan was subject to the Arbitration Laws of Malta, a fact by which you confirmed your understanding and acceptance of via the online signature you made. Please note, we are not a US company, have never prescribed to be a US company and have no US presence, as such are not subject to the US laws you detail. Please refer to your copy of the Loan Agreement. Under the terms of the Agreement you consented to make payments via ACH until the loan was satisfied in full. Your loan account is currently in default due to returned payments. We will continue to make all reasonable attempts to make contact and to attempt collection of all funds due and payable to enable the loan agreement to be satisfied, as per the original provisions. Regards, Customer Services
reply
malta?you have overpaid them by a bunch.they can't do a thing to you except call and threaten.that's it. keep us posted,we can help you with this.
Since when did a US citizen become subject to Malta's laws. That
Since when did a US citizen become subject to Malta's laws. That is a big load of bull & I tell them if they are not subject to Us law,you are not subject to theirs either.
They must be affliated with CashTransferCenters, because one of
They must be affliated with CashTransferCenters, because one of their contact addresses is Malta.
**Updat**Ok, it is me -guest logged in. They r telling me that t
**Updat**Ok, it is me -guest logged in. They r telling me that they are a non us business and they do not fall under us laws..lol. They said that they do not fall under FTC or AG. They said I fall under their Malta laws nad have to pay. They keep stressing they are non us, and that they have no number for me to call them. Unreal!! They said no moneygram, only want my bank info. A Scam to me!! I said you are not getting my bank info again. I offered to pay them settlment they said, no I said o well! I am reporting to BBB, FTC, VA SCC.
The thing is these guys are all verbal internet companies. I cannot locate them on BBB. No phone number or address!
If they are not located in the US, then they have no business le
If they are not located in the US, then they have no business lending into the US. Let me guess - they loaned you between $200 and $500, right? Most of the internet lenders will lend around $250 to $300, and then make you pay outrageous fees and keep you paying forever.
DO NOT, under any circumstances, give them your bank info. Block their access to your bank account, or close it and open another account, and don't give them the info. If they have access to your bank account, they will debit you to death.
The majority of LEGAL payday lenders are required by law to provide you a physical, hard copy of your contract - a verbal contract does not count, regardless of what they say.
They MUST follow the laws of YOUR state to lend into you your state - no exceptions for out of country lenders. They are not operating legally in the US, and they know it. They are trying to exploit the fact that many people do not know their rights when it comes to international lenders. They are counting on you to not know that they can't pursue you legally.
Call their bluff. If they threaten to send their "legal team" after you, go them one better - tell them to have their "legal team" meet you on the courthouse steps, and you'll be there - with your own legal team, including the county prosecuter, state's attorney general, a rep from the BBB and the state police.
Don't let them intimidate you - they don't have a legal leg to stand on and they know it. They are trying to force you to pay by telling you that their laws are the only ones that matter - they are absolutely wrong.
Thanks. I wrote this in that very same thing in respone. They m
Thanks. I wrote this in that very same thing in respone. They must think I am a rookie..lol. I did much research om the laws. They even admitted they were a "NON-US" company..lol! Unreal! I closed my account over 2 weeks ago and opend one at a totaly new bank. Sent letters to all my PDL and have filed complaints to five that I have overpaid by hundreds! I believe all of them are no liscenced in my state VA. See my post as guest on 11 payday loans below:
http://www.debtconsolidationcare.com/paydayloan/pdl-overpaid.html
Hello All, I sent 365fastcash my response as follows: May 30,2
Hello All,
I sent 365fastcash my response as follows:
May 30,2008 To whom it may concern, Your company continues its attempts to debit my account with ACH transactions. I have sent a revocation letter to your company May 22, 2008. Your current illegal interest rate charges are unacceptable and I plan on reporting this matter to my legal representative.
They replied with this:
The interest charges are completely legal and are in line with our competitors. As already explained, we will continue to require payment, by ACH, until the loan is satisfied as per the loan agreement. We have now been advised that the account on file is closed, you are obligated to provide new checking account details to allow payments to be made. Regards, Customer Services
Are they smoking? I am not sending them any information ever again. They are stubborn and still refuse to send me a mailing address to their company. I am thru with contactimg them on this matter.
If you have in hand your letter revoking ach and they continue t
If you have in hand your letter revoking ach and they continue to attempt ach on your account, now is the time for you to contact the pdl's ach processor. Will your bank's customer service do a conference call to the pdl's processor with you on the line?
This is the response after sending ncag an email asking about AC
This is the response after sending ncag an email asking about ACHloan. I have asked ACH if they are not legally binding in the US then they can't use our US laws against me. Please read.
NC Attorney General office reply to my inquiry..............
Please close out your bank account IMMEDIATELY. These loans are illegal in NC. It appears you have already paid back the principal amount borrowed, and the law demands that the loan be stricken from any and ALL interest applied to this illegal loan.
As you realize by now, these payday lenders are conducting illegal lending activities in NC as well as other states. Please do not apply for any further payday loans or you will again be at their mercy. The lenders have no legal standing in our state and cannot take ANY legal action against you. Granted, they will continue to harass you at home and your work place, but do NOT send them any more money. North Carolina is not a wage garnishment state so they cannot attach your paycheck for repayment. Further, no court in our state will issue a summons for your arrest or prosecution, since the loan(s) are in violation of the law.