Pay day Loan My Cash Now
Jacksonville Florida. I received a letter demanding $1000 for a payday
loan in which I totally had forgotten about. I had several which
were paid with overage in fees. I followed the advice of the forum
and closed my bank account. Apparently I had forgotten about this
one. I am willing to pay the $500 back but not with all their fees.
I live in NJ and know now they are illegal. When I spoke to the
rude person from PBM I asked for validation and the address of
My Cash Now in which they informed me they didnt know it. So
I faxed and sent a certified letter (debt validation)to them requesting
that I wanted to deal directly with My Cash Now and offer to pay
in 5 payments in money orders directly to My Cash NOw.
I just received a letter from them informing me that if they do
not receive my payment of $1000 in 7 days they are going to continue
their collection procedures to ensure the interests of their client and
the debt is paid. I have no problem paying them the $500 but I am
not sending them $1000.
Also on the top of the letter the address now for MY CASH NOW
is: Apartado Postal 0818-00568 Panama, Republica de Panama
but on PDM letter it shows W. Vancouver, BC FL?????
I have this paper work from them and I was wondering if I can somehow
send it to someone in the forum to look at and tell me what to do?
Any help would be deeply appreciated. Thankyou
Since you are a registered member, you would be able to send oth
Since you are a registered member, you would be able to send other members private messages.
Anyway, since My Cash Now is based out in Panama, that makes them completely illegal in USA. I would suggest that you report this collector to the state AG, FTC and BBB. They are clearly violating the laws. Preserve the letters, they are golden.
How much was the principal amount you borrowed? That's all you w
How much was the principal amount you borrowed? That's all you would owe them since they aren't licensed to lend and payday loans are prohibited in your state. I would contact this collection agency and let them know they are attempting to collect on an a debt which isn't licensed to lend in your state, also forward them the payday loan laws in your state, below:
http://www.paydayloaninfo.org/stateinfo/NJ.asp
You should also file a complaint against them with the FTC (link in my signature), your Attorney General's office and the BBB.
Professional Debt Mediation, Inc. 7948 Baymeadows Way 2nd Floor
Jacksonville, FL 32256
(904) 398-5972
This company has an F rating with the BBB already due to the fact that there has been so many complaints against them. Please file complaints! They are trying to pull a fast one on you, they are required to send you a dunning letter (letter of collection) per federal law FDCPA via the mail within 5 days after their first initial contact with you, then at that time you can request debt validation. Don't pay them a dime!!!
