Payday Loan Payoff Help - NJ

money orders from the post office can be traced (well i believe all can but i had great success tracing them with post office money orders). it is personally the only form of payment i ever sent. you can mail it certified and that is proof that they got it, as well as the receipt that comes with the money order.
and when you send enough to reach the principal, just stop sending money..regardless if they say they got it or not. if you have to, you can than move on to trace it.

Thanks for the advice.

Loan Shop Online has agreed to settle for the remaining $350 of the original $500 i took out. I already paid $150.

They sent some release form and asked me to sign and fax to them. I really don't feel comfortable signing anything.

honestly i would not sign anything from them. they are not a legal company therefore this release is not a legal form to be signed.. i also would not trust them with a copy of your signature.

i would decline the signature as well.the ipdl's that eventually settled with didn't require that.why would they?

This is from the email

"In the interest of resolving this issue amicably, I accept your offer to repay the remaining $350.00 balance. Your payment may be mailed to:

2207 Concord Pike #250

Wilmington, Delaware 19803

You will not be held responsible for any balance beyond the $350.00 settlement balance that we have agreed upon. Please keep a copy of this email for your records.

As a confirmation that this settlement agreement will end the dispute and all complaints will cease, please review the attached agreement and fax a signed copy at your earliest convenience."

This is the release

"RELEASE
THIS RELEASE (???Agreement???) is entered into as of the ___xx __ day of xxxx 2009
by and between The Loan Shop a Delaware limited liability company (the ???Company???), and
xxxxx (the ???Borrower???).
WITNESSETH:
WHEREAS, the Borrower and the Company entered into that a certain Loan Agreement
dated 7/29/2009 (the ???Loan Agreement???) and other documents related thereto; and
WHEREAS, in connection with the transactions contemplated in the Loan Agreement,
the parties desire to execute and deliver this Agreement.
NOW, THEREFORE, the parties hereto, in consideration of the premises and other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by all
parties, hereby agree as follows:
1. Release.
(a) Release by the Borrower. The Borrower, for himself and his present and
former agents, predecessors, shareholders, directors, officers, employees legal
representatives, descendants, spouses, successors, predecessors, agents, attorneys and
assigns (collectively, the ???Affiliates???), does hereby fully release and forever discharge the
Company and its Affiliates from and against any and all claims, demands, obligations,
causes of action, actions, suits, controversies, debts due, sums of money, trespasses,
privileges, covenants, contracts, agreements and promises and any damages, costs,
expenses, attorneys??? fees, obligations and liabilities of whatever kind or nature, at law, in
equity or otherwise, whether asserted defensively or offensively, whether known or
unknown, that any of such parties ever had, now has or may have, but only to the extent
arising or occurring from or in any way growing out of facts in existence or alleged to
have been in existence on or prior to the date hereof (collectively, the ???Released
Claims???).
(b) No Suits. The Borrower (for himself and his Affiliates) hereby covenants
and agrees that they have not directly or indirectly, alone or with others, brought,
commenced, instituted, maintained, prosecuted or voluntarily aided, and that they will not
directly or indirectly, alone or with others, bring, commence, institute, maintain,
prosecute or voluntarily aid, any action, at law or in equity, or any other proceeding
against the Company or its Affiliates, either affirmatively or by way of cross-complaint,
third-party claims, defense or counterclaim or by any other means with respect to any of
the Released Claims.
(c) No Claims Assigned. The Borrower (for himself and his Affiliates)
further represents and warrants that they have not assigned or otherwise transferred any
right, title or interest in any of the Released Claims. The Borrower further agrees to
Page 2 of 4
indemnify and hold the Company and its Affiliates harmless from and against any claims
resulting from any such assignment or transfer.
(d) Complete Defense. The parties hereto agree that this Agreement may be
pleaded as a full and complete defense to, and may be used as a basis for an injunction
against, any action, suit or other proceeding which may be instituted, prosecuted or
attempted in breach hereof.
2. Non-Admission. The parties agree that nothing in this Agreement is an admission
by any party hereto of fault, liability, of any unlawful act or breach of contract, violation of
applicable law or commission of a tort, all of which are expressly denied.
3. Entire Agreement. This Agreement contains the entire agreement between and
among the parties hereto with respect to the subject matter hereof and supersedes any and all
prior agreements, arrangements or understandings between the parties hereto relating to the
subject matter of this Agreement.
4. Successors and Assigns. This Agreement is and shall be binding upon and inure
to the benefit of the parties hereto and their respective successors, assigns, administrators, legal
representatives, servants, directors, officers, employees and agents.
5. Amendment; Waiver. This Agreement may be amended only by a written
instrument signed by the parties hereto. No provision of this Agreement may be waived orally,
but only by a written instrument signed by the party against whom enforcement of such waiver is
sought.
6. APPLICABLE LAW. THIS AGREEMENT, AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES HERETO SHALL BE GOVERNED BY AND
CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE
OF MISSOURI, WITHOUT GIVING EFFECT TO THE CONFLICTS OF LAW PRINCIPLES
THEREOF.
7. Representations. All parties warrant and represent to all other parties to this
Agreement:
(a) that they have read and understand all aspects of this Agreement, and all
of its effects;
(b) that they have executed this Agreement as a free and voluntary act of their
own free will without any treat, force, fraud, duress or coercion of any kind; and
(c) that they will not disclose the existence, or the terms, of this Agreement to
any third party.
8. Invalid Provisions. If any provision hereof is held to be illegal, invalid or
unenforceable, such provision shall be modified to the extent necessary to render such provision
enforceable and, if necessary, shall be fully severable; this Agreement shall be construed and
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enforced as if such illegal, invalid or unenforceable provision was so modified as of the date
hereof, or never comprised a part hereof, as the case may be, and the remaining provisions hereof
shall remain in full force and effect and shall not be affected by the illegal, invalid or
unenforceable provision.
9. Counterparts: Facsimiles: This Agreement may be executed in multiple
counterparts, all of which, when combined, shall constitute one (1) agreement. Facsimile
signatures shall be effective.
[Remainder of page intentionally left blank; signature page attached.]
Page 4 of 4
Signature Page - Release
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date
first above written.
BORROWER:
_________________________________________

The Loan Shop
a Delaware limited liability company
_________________________________________
By:

I will not be signing this.

I would not sign it neither.. i never heard of anything like that!
besides, why even bother when the email states everything that you wanted? :)

I have not been having success contactin MyCashNow. Emails are returned and fax does not go through.

i would search on the BBB's webpage or here for a physical address to mail the letters to. if you cannot reach them, do not worry about it.. you are doing everything you can. believe me, i am sure they will find someway to reach you, in which you can reply with your letters.

Here is the info on BBB I found this morning:

Name: My Cash Now
Phone: (866) 392-2274
Address: 207 1425 Marine Dr
North Vancouver, BC V7P 1T5

Additional Addresses
3421 Kingsway
Vancouver, BC V5R 5L3
Canada


This is slightly different from the address I had.

I have one pdl to pay, Eastern Lenders. They want me to do a western union payment. I've never done one, and I want to pay by cashier's check, but they haven't provided me with address. Should I just send cashier's check to the address listed on my agreement? They are in Delaware. I want a paper trail.

aubrey i agree that it is best to send something in the mail (I perfer money orders but that is just me). however i would not send anything without written agreement from them in regards to a physical address. no address provided by them, no payment. seriously.
many times the address on the contract is just a front or does not even exist in some cases! i would not do a western union, they are expensive and having a paper trail is best.

that address is their true address.any address here is a maildrop.you still can send letters there.i mean to the address here in the states.they will get it.

I will tell them that, although they'd better come up with an address soon before I have another monetary crisis and have to use "their" funds.......I guess I'll send another e-mail to their collection place requesting an e-mail address. At least I'll have proof that I'm trying to contact them.

yea, i am all for paying back what was borrowed but it always seemed odd to me that you have to chase them down to give them money :?: :?: :?:
i always said no address, no payments and eventually they magically find an address for me to send it to

Can a illegal pdl put a wage assigment on you

Quote:

I've been receiving calls mostly from Eastside Lenders and Pay-Day-Loan-Yes. Pay-Day-Loan-Yes has calls coming in from "First National" Is this some type of collection agency they use or is this just a firm they've created for collection calls. I've filed an FTC complaint for Pay-Day-Loan-Yes, should I file an additional complaint for this "First National?" Does anyone have any info on First National?

First National is a bogus name they created to scare people, if the truth were known, it's probably a guy in some boiler room assigned to harass you.

I just wanted to give a big THANK YOU! to this website and everyone on here for the support and advice.

THANK YOU!

Quote:

That's exactly what it means. PDL free.

Other than PDL Yes and Eastside Lenders, PDLs are a thing of the past. Those two companies are just not willing to work things out. I believe the FTC complaints have helped.

I have my very own payday loan web? I live in Louisiana, what do I do after I close my account? I have been paying regularly since i got all of these loans. I have paid more in fees than anything. Also how do I know if they are legal/illegal?

I have ppl's with:

Loan Point USA (internet)
CashNet Usa (internet)
Integrity Advance (internet)
500Fast Cash (internet)
EZcash (internet)

HELP ME!!!

belindawht it might be best for you to start your own thread so it gets the most attention it can :) you live in a different state than the OP so it might get confusing here.

First National is still calling and not working out. I'll file an additional FTC complaint for First National.

I live in Florida and having the same problem. Got the money so i could pay for a procedure my 2yr old to needed. Now i can't even support him with all these fees
: StarCashPrcssng 350.00

I received a letter from Alliance Asset Management regarding EastSide Lenders. The amount owed they state is reasonable.

Has anyone dealt with this company?

My concern is that I pay the amount, but they keep up the harassment.

If you paid back more than what you borrowed, you owe Eastside nothing. They are illegal lenders, except in Delaware.

Is there a specific debt validation letter that you should send to a CA that is attempting to collect on a illegal PDL?

I have the sampe from here: http://www.debtconsolidationcare.com/letters/sample6.html

Just wanted to know if there is anything special or different that shouuld be sent to a CA looking to collect on an illegal PDL.

Thanks

Here's the letter is sent to the CA for Eastside Lenders:

Regarding my account with EL and in addition to our telephone conversation earlier today, I am attaching information from the CFA website regarding the illegal status of payday loans in New Jersey. Also take note that according to NJ state statute no one can lend money in NJ without a license/registration. EL does not ahve a license to lend money in NJ. Also, according to statute anyone lending money is governed by the law of the state of the recipient, NOT the lender as EL contends in their "loan" document.

I've notified the BB in Delaware, the NJ Dept. of Banking and have filed a complaint with the Internet Crime Complaint Center (IC3.gov) about their illegal activities in NJ.

Since I borrowed $300 and repaid $300, I owe EL nothing. I will not pay their illegal interest fees.

Since sending this letter on 9/25, I received two calls and I restated what I sent in the letter and , I've heard nothing from EL collection agency.

Could one of these illegal lenders issue a 1099C? My initial thought is no since they are illegal lenders. What about a collection agency that is trying to collect for these illegal lenders, could they issue a 1099C?

Has anyone actually ever been issued a 1099C for an illegal PDL?