National Pay Day
Date: Mon, 01/18/2010 - 20:53
I have an outstanding loan with National Pay Day based in Cost Rica. I have paid down the balance to $100.00 however I have paid them well in excess of the principle that I barrowed from them. I sent them the letter telling them that they are illegal and that I was not going to pay them anymore due to the fact that I have already paid the principle back (and then some).
They responded with a hudge letter citing legal case and stating that even if I am in PA, that the loan is still valid and enforcable.
How should I respond and is anything they say true? Anyone have any experiance with telling them they are illegal?
Dean
State Legal Status Lending of payday loan is prohibited in the S
State Legal Status
Lending of payday loan is prohibited in the State of Pennsylvania. Check Cashing Licensing Act of 1998 prohibits check cashers from making payday loans.
National
OK, I understand that is the state law, however the line of BS they are feeding me is that the agreement I signed states that I am bound by Cost Rican law and that this is acknowleged by the USA. They site all kinds of case that "prove" that. I am no attorney so I am a bit gun shy when I read the letter.
I am assuming that this is pure BS then? They are offering a settlement of sorts to just drop the fees and just pay back the 100 that they claim I owe them.
I can post the e-mail that I received from them if it is helpful.
Dean
Quote:Originally Posted by deanernetOK, I understand that is the
Quote:
Originally Posted by deanernet OK, I understand that is the state law, however the line of BS they are feeding me is that the agreement I signed states that I am bound by Cost Rican law and that this is acknowleged by the USA. They site all kinds of case that "prove" that. I am no attorney so I am a bit gun shy when I read the letter. I am assuming that this is pure BS then? They are offering a settlement of sorts to just drop the fees and just pay back the 100 that they claim I owe them. I can post the e-mail that I received from them if it is helpful. Dean |
It isn't enforceable. Just repsond to them this way: Please note I am not a resident of Costa Rica, have never prescribed to be a resident Costa Rica and have no Costa Rica presence, as such am not subject to the Costa Rica laws you detail.
Meanwhile, CLICK HERE to find out how to deal with illegal lenders.
