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Outback bucks and Security Check

Date: Mon, 11/09/2009 - 20:19

Submitted by support1111
on Mon, 11/09/2009 - 20:19

Posts: 4 Credits: [Donate]

Total Replies: 3


Apparently now outback bucks has contracted with Security Check a collection agency in mississippi that collects bad checks to collect there debts. When the letter comes it is listed as Quasar Corporate Services. So I'm going to guess that there really trying to step it up a notch. I have written Security Check telling them there attempting to collect on an illegal pay day loan and should send it back to whomever contracted them saying they can't collect it because it's not legal in Iowa. So anyways just thought I would give a heads up that some of these companies are getting pretty sneaky when it comes to collections.


Quote:

Originally Posted by support1111
Apparently now outback bucks has contracted with Security Check a collection agency in mississippi that collects bad checks to collect there debts. When the letter comes it is listed as Quasar Corporate Services. So I'm going to guess that there really trying to step it up a notch. I have written Security Check telling them there attempting to collect on an illegal pay day loan and should send it back to whomever contracted them saying they can't collect it because it's not legal in Iowa. So anyways just thought I would give a heads up that some of these companies are getting pretty sneaky when it comes to collections.


You should also send them a debt validation letter within the 30 day window after receiving that letter of collection.


lrhall41

Submitted by Shazzers on Mon, 11/09/2009 - 21:33

( Posts: 17344 | Credits: )


Well I called them today to find out if they had received my letter. She informed the account as of right now is inactive with a zero balance. So I'm going to guess my letter did some good. Now let's just hope they don't resurface again. Man outback bucks is pesky. Amazing there still even lending with these kind of coercive acts.


lrhall41

Submitted by support1111 on Thu, 11/19/2009 - 00:21

( Posts: 4 | Credits: )


For those of you in Iowa looking for a decent letter already stating the laws for internet pay day loans. Here's the one I wrote to them. You can customize how you see fit.

To the disputes department of security check:
Regarding file # xxx.
Regarding Client: Quasar Corporate Service


The pay day loan that you folks are collecting is illegal under Iowa State law because this was an internet pay day loan from not within the State of Iowa.

As stated in section 533D.3[LIST=1]

  • A person shall not operate a delayed deposit services business in this state unless the person is physically located in this state and licensed by the superintendent as provided in this chapter.
    Also the fee being charged was also in violation of state of Iowa Banking code as stated in section 533D.9[LIST=1]
  • A licensee shall not charge a fee in excess of fifteen dollars on the first one hundred dollars on the face amount of a check or more than ten dollars on subsequent one hundred dollar increments on the face amount of the check for services provided by the licensee, or pro rata for any portion of one hundred dollars face value.
    The amount collected on this loan was $30 per hundred borrowed vs $15 for the first hundred and $10 per hundred after that.
    Therefore this debt is illegal and I have been informed by the Iowa Department of Banking to not pay on this loan because of it violating state laws. Please stop collecting on this loan because of it being illegal in nature and not legal in this state. By continuing to collect on this debt I can only assuming that your collection agency is illegal and not following the laws of each individual state.
    So therefore I am disputing the whole amount and not willing to pay any of the amount listed because I have been informed not to do so. Also I have been informed by the Iowa Department of Banking that any contract you guys are trying to collect under is null and void. It will also not allow for any criminal or civil prosecution or arbitration in this state.
    I can be reached via telephone at xxx, by e-mail xxx, or via mail xxx.


    Thank you,




    xxxx


    • lrhall41

    Submitted by support1111 on Thu, 11/19/2009 - 00:31

    ( Posts: 4 | Credits: )