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I am dealing with MTE Financial

Date: Mon, 10/22/2007 - 12:29

Submitted by a_mollohan
on Mon, 10/22/2007 - 12:29

Posts: 24 Credits: [Donate]

Total Replies: 131


I live in PA and I have 11 Payday loans. One of them is MTE Financial, and they just called me at work today to ask for $325.00 by this Friday. I have paid 4 refinance fees of 90.00, and a $50.00 pay down and $90.00 refinance fee. What do I do? Do I pay them, are they even legal in PA? What about my other payday loans. Help with MTE first. Thanks


Here are the Payday loan laws for Pennsylvania (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Pennyslvania does allow for IPDLs to follow their own state laws IF they are licensed in another state. Once you get us the information that Bikergirl asked then we can help you further.


lrhall41

Submitted by pybasj on Mon, 10/22/2007 - 18:40

( Posts: 818 | Credits: )


Okay, hang on. PDLs are prohibited in PA unless they are licensed SOMEWHERE. If they are licensed SOMEWHERE, PA will allow the pdl. Our friend would like help with MTE :evil: first. It would be my pleasure! MTE Financial is NOT licensed/legal in any state in the United States. So do not worry about them being legal for you. I'm showing you've paid them $500 so far? Is this correct? What is the amount that you borrowed? I'm sure far less than this.

Sorry, pyb. Just saw where you posted that about PA law! :cry: Repeated it! Whoops!


lrhall41

Submitted by cannr on Mon, 10/22/2007 - 18:49

( Posts: 9317 | Credits: )


I have the following payday loans, all internet:

Geneva Roth: Loan amount $400.00, paid 4 refinance fees of 120.00.
MTE Financial: Loan amount $300.00, paid 4 refinance fees of $90.00, and one paydown of 50.00, plus the refinance of 90.00
CashNet USA: Loan amount $500.00, paid 4 refinance fees of 125.00.
Crown Lending: Loan amount $300.00, paid 4 refinance fees of 90.00.
Ameriloan: $300.00 Loan, paid 4 refinance fees of 90.00, 50.00 paydown and 90.00 refinance, plus additional 50.00 and 75.00 refinance fee.
2 Power funding: Same as ameriloan
One Click Cash: $300.00 loan, Same as Ameriloan
CashNet USA: $350.00 loan, paid 3 refinance fees of 105.00
Paycheck today: $300.00 loan, paid 3 refinance fees of 90.00
Fast Cash/Payday Two: $350.00 loan, paid 2 refinance fees of 105.00
National Payday: $350.00 loan, paid 2 refinance fees of 105.00


lrhall41

Submitted by a_mollohan on Tue, 10/23/2007 - 06:07

( Posts: 24 | Credits: )


MTe and ameriloan are illegal. Mte you have overpaid by $200. Ameriloan you have overpaid $325.00. You have 2 loans out with Cashnet USa? They are legal and tend to operate as a CSO which allows them to charge the higher rates because they are "fees" not interest. They other ones need to research not sure if they are licensed somewhere else.


lrhall41

Submitted by pybasj on Tue, 10/23/2007 - 06:13

( Posts: 818 | Credits: )


A, You need to close your account first thing. Please read this about closing your account.
http://www.debtconsolidationcare.com/paydayloan/close-account.html
You want to keep them from getting any more money from you. Do not worry about the $325.00...you have way overpaid them. Do not take their call any more if possible. You want to communicate only in writing with them. You need to do a letter revoking any wage assignment you may have signed. You also want to revoke your permission for them to debit your account. If you need help with this letter ask and I will send you a sample of one I have.


lrhall41

Submitted by RoxyNY on Tue, 10/23/2007 - 07:09

( Posts: 4178 | Credits: )


A, you will have to make arrangements with Cash Net USA, since they are legal and are licensed however, do not give them your new account information. Any of yours that are licensed, you will have to make arrangements with. The ones that are not licensed, you will handle the same way you handle MTE. We will all help you get through this. It can be stressful and confusing. Just post any questions you have and we will help you as quickly as possible.


lrhall41

Submitted by RoxyNY on Tue, 10/23/2007 - 07:12

( Posts: 4178 | Credits: )


Back to MTE. They are relentless for a while and then will sell you to a collector who will give up when sent a validation letter asking all the right questions about interest licensing etc. Then you will be sold to the next one etc. I am on my second CA with them and will be sending a validation letter this week.


lrhall41

Submitted by Frogpatch on Tue, 10/23/2007 - 07:29

( Posts: 5381 | Credits: )


Cash Net 500 (Payday Loan Yes) is really nasty. They even fought with my state regulators! But they did eventually leave me alone and mark me PIF. It just takes a lot of time and energy.

Closing your account and making sure it is protected has to be the first step. If you do anything else first, the pdl's will hit your account as fast as they can.

You will also need to file complaints against all the companies that are operating illegally with your state DFI, AG's office, and the BBB.


lrhall41

Submitted by goudah2424 on Tue, 10/23/2007 - 07:31

( Posts: 7935 | Credits: )


A, In the letter I pm'd you, you will instruct them not to call you at work and to correspond with you in writing only....9 time out of 10 they will continue to call. I have found if you do not take their calls but keep a record of their calls, they will stop callling for a little while. Do you know how to use the om feature at the bottom of the posts?


lrhall41

Submitted by RoxyNY on Tue, 10/23/2007 - 07:48

( Posts: 4178 | Credits: )