Legal or not ? VIP loan, Vin capital, mass street group, cash cure and cash call

are they legal in ohio i got a call from another lender claiming they were not and they would stop them from taking additional money sounded weird to me

They are all illegal. PDls are illegal in NY. You owe principal only. Follow the link in m signature for how to deal with illegal lenders.

Even if they are online, located in a different state. They are still illegal?
I get so confused.
Arg...why did I take out these darn loans??

You live in NY...your state law prohibits them. Period. Follow the link in my signature line. Follow all of the steps.

PDL's will probably send you emails trying to confuse you on their legality. Ignore them...or come back here for help. Register with the forum!!!

Thanks.
And I did register! It signed me out for some reason :0

This forum is helping me!!!
A god-send!

Thanks. I just sent mass street group the letter!

no problem good luck keep us posted

Well. I sent this email to mass street group yesterday:

Dear Lender,

It has come to my attention that payday loans are prohibited in my state. Therefore, the loan contract that I have with you, according to my state???s laws, is not enforceable. Although I am not required to do so, I am willing to repay the principal balance of the loan. To date, I have received $500 and have made 3 ???renewal??? payments of $120 leaving a balance due of $140. I am willing to repay the $140 balance via credit card in 2 monthly installments of $70 each on (insert date(s)).

At this time I am revoking ACH authorization. You are no longer authorized to withdraw payments from my checking account. I am also revoking any wage assignment I may have signed. I have given a copy of these revocations to both my bank and my employer. Any future attempts to collect funds in this manner will be blocked.

Please contact me to set up payment arrangements as outlined above.





And I just recieved this email in response:

Thank you for providing us with your states laws. We respect a consumer who researches the services to which he/she uses. With that being said when you applied for and agreed to the terms of the loan, it would have behooved you to read the complete contract you agreed to with Horizon Opportunities. You are a citizen of New York, however the contract was not made in New York. The contract was completed via the world wide web, the governing law (clearly outlined in your contract) which you agreed to by your legal e-signature are the laws of the jurisdiction in which the lender is located. When you called and spoke spoke with Sierra on 08/22/12 at 4:10pm CST to request your third loan from us, she clearly outlined how the loan works and what the renewal charges were, yet you still requested and accepted the new loan.

Despite you now disputing the validity of the loan, the loan in which you requested from us and agreed to, we would be willing to settle with you, with no obligation to do so, for the principle amount remaining on your account. We could initiate the debit to your account of $250.00 on your next due date of 10/3/12. If making one payment to pay off the principle isn?t possible for you, then another payoff arrangement may be available. Please call to let us know how you would like to proceed. You can also have the debits stopped on your account by placing a stop payment on our debit. This will result in your being sold to outside collections.

CWB Services LLC
Customer Service
Ph. 1-877-781-4330
FX: 1-888-519-2058
Mon-Fri 8am-5pm cst




What do you suggest??

Dear Mass Street,

I hope you do not make the mistake of debiting my checking account after I revoked ACH authorization. I don't think you are interested in being brought up on federal charges.

You can either take my payment arrangement as I offered it to you, or you can stick it. You have no recourse here. If it is more profitable for you to sell this to outside collections rather than take my two 70 dollar installments, then you can do that; I will save myself the 140 and cease and desist the CA.

Your choice.

Best regards!

I just sent that letter you provided.
Lets see what happens....tanks

Ok, so I've sent this email about three times and have had no response.
Hm...alittle bit shady maybe?

Just give it time

The reason I am anxious is cause I get paid tomorrow so I am worried they will still debit my account. It says that you have to write to the company 3 days in advance. I wrote to them on Sunday, they replied on Monday, so I think they are still going to debit my account.
After tomorrow, I am going to close my account! I hate this stuff, but I did get myself into this mess!
And what do you suggest I do if they do debit my account tomorrow? Should I just sen them the same letter? Arg....I am so stressed because of this. I haven't had a good nights sleep in months!

If they debit your account file an unauthorized charge claim with your bank.

Well, it's 8am on my payday and mass street group still hasn't taken the money.

One down, four to go!!

Now I just sent this email to my contact at VIN capital:
Dear Lender,
It has come to my attention that payday loans are prohibited in my state. Therefore, the loan contract that I have with you, according to my state???s laws, is not enforceable. Although I am not required to do so, I am willing to repay the principal balance of the loan. To date, I have received $200 and have made 3 ???renewal??? payments of $60 leaving a balance due of $20. I am willing to repay the $20 balance via credit card on 11/1.

At this time I am revoking ACH authorization. You are no longer authorized to withdraw payments from my checking account. I am also revoking any wage assignment I may have signed. I have given a copy of these revocations to both my bank and my employer. Any future attempts to collect funds in this manner will be blocked.
Please contact me to set up payment arrangements as outlined above.

i have seen this whole thread and am horrified.you do not give any illegal a regular debit,or credit card.do not trust them at all.either a prepaid debit card,or money order to a real address.they will compromise your credit card.hope this makes sense.

And I recieved this as a reply:


Please provide a good contact number so that I can contact you regarding setting up alternate arrangements, your current number on file 631-896-2345 is disconnected . If I do not hear from you prior to 10/17/2012 I will set up the full amount of 200 to pull from your account. please see below regarding your contract and revoking your transactions, this information can be found in your loan document and disclosure.

This is what I am replying:

my bank know of this as well.

I am a citizen of New York, and unless you are licensed with this state, any contract is null and void.
I do want to pay back the money I borrowed. I have paid a total of $180. I borrowed $200 and so $20 is due. I want to pay that so THAT is the amount I will agree to and only that amount.

Now, I KNOW illegal payday lenders like to threaten and use scare tactics to get the money they think they are owed. Illegal payday lenders hope the customer or borrower are complete idiots and will comply. I am not an idiot. I have a brain and you can not scare me! I will pay what I borrowed, but the rest is not enforceable. And if you send this to collections, I will report this to my attorney general and I will tell the collections company that they are trying to get money for an ILLEGAL payday loan. $20 is what I will pay. Is it really worth the hassle? You do not have permission to take $200 out of my account. I will file charges.

If you want the $20, then contact me. If not, I expect a letter stating my loan is paid in full.

Thank you




I really hope they back off and listen!

And I got this email:
(This email proves they are scum)

Thank you for responding, however we do have your full permission to take the 200 out of your account. at this time Your account is set up for the 200. I will not stop the payment, and I will not accept 20 dollars. You have reactivated your account and fully understand all terms of your advance. I have already dropped the 60 renewal charge off. Your balance is 200 to pay off, if your payment from 10/3 returns then you will be responsible for 350 to pay off. You have agreed to skip your payment to double up on 10/3 and that agreement must follow through. If returned than your balance is 350 for payoff, nothing less. Please contact our office if you are needing to set up alternate arrangements to pay off your balance. otherwise every email from here on out will be considered junk mail.

It does.
I wish I knew all this stuff before I borrowed from these places.
I guess I learned the hard way

Hopefully you have closed your account.

I cannot figure out where these assholes (Vin Capital) are located. If they are in the US (which I doubt) they should be pursed for threatening to violate your ACH revocation.

Your disconnected number has the same area code as mine!! Are you from suffolk county?

As for these guys, VIN Capital appears to be some kind of boiler room lender. I am trying to do some research.. I found this address online:

500 N Rainbow Blvd Ste 300a Las Vegas, NV 89107

It goes to some corporate park in Las Vegas. I don't know if it is legitimate or not to be honest with you. Tell them that you pursue criminal charges if they violate your ACH authorization and that you have stated that you will fully cooperate when your bank files charges.

See what they say to that. If they keep the same crap just write back something like "We're done here, I'm saving myself 20 dollars"

Thank you thank you!!

And yes, I am in Suffolk county! You too? Cool! What a small world we live in!

And thanks for the address. I will use that in my next email!

waffles alot of offshore lenders use vegas for their mail drops.when i was dealing with the heathmill group(gfsil,big ltd,route 66)they used a vegas address.it was just a shell address.this is too as if was legit i would suggest a nice lawsuit.i would quit email jousting and send the email as waffles put out.they get bupkiss now,and pay them no mind from now on.

Very interesting Paul. I knew these guys are illegal but am surprised to hear they have mail drops. Do you know if these things work? Ie does the mail actually end up with the company? I know one lender was using their address as a capital one branch in Manhattan..

Scene, I live in VA now most of the time but I am from Setauket and my father still lives there... you?

I live in stony brook. Have lived her almost 3 years. I moved from California to hear. But born and raised in Boston.
Small world this is, ain't it!

That's crazy... where in Stony Brook?? Shores or near the university or what? I grew up like 2 minutes from you... crazy! I was just there last weekend.

Mass street group was shut down - now accounts are being handled out of new york. Fanelli & associates. They are also a scam. A $250.00 pay day loan repay is $720.00 - go figure. Please report them if they contact you and do not give them your money

So, mass street group and VIP sent letters stating they will not deduct any more money out of my account. I am paying mass street group two payments of $50 on MY TERMS! Vin still is being a pain. I sent the revocation letter more and more and no answer. Yesterday would have been the day they take money, I closed my account, but still haven't heard from them. So who knows. Yesterday, I got an email from cash cure with some bs, but at the end it was going to be paid in full!
Just have to deal with cash call. I sent them the revocation letter many times, but no reply. They take the money out on the 1st, so maybe that's when they will reply. They take money out of the same (closed) account as the others.
So, good news with 3 out of 5! But much better than before!
Thanks again for everyone on this forum! You saved me!!

Vin capital just sent me an email reminding me of payment and sent me a copy of my account summary. Geez, these people are really stupid.
So, I sent them this:

Remember, you are NOT authorized to take ANY money out of my account!! I am revoking ach authorization AND wage assignment. My bank will have a copy of this and if ANY money is taken out, there will be further action!

Is this all I should do?
Advice?

There's nothing else to do... just ignore them