Payday One Help
Date: Mon, 11/30/2009 - 12:34
I have 3 payday loans; paydayone; paydayloanyes; cash-advance.us
I have 3 payday loans; paydayone; paydayloanyes; cash-advance.us. I just defaulted on them. I sent letters to each, as i had overpaid all three (ive been a customer over a year). Paydayone sent me email today saying they would cease collection effort (although i asked just for email contact only-- not a ceast and desist-- i simply asked to be marked PAID) but that they MAY report it to the credit bureaus. I replied that I wanted a paid in full-- internet lending is ILLEGAL in KY and they are NOT liscened in KY. Their reply was pretty short and sweet-- i was actually shocked. Have not heard from the other two though -- but i will send similar letters to them. I have already reported all three to the BBB and FTC.
Ive read some success with paydayone settling.... probably depends on how much they have already made off of you.
PaydayOne isn't registered as a payday loan in Ohio, I think the
PaydayOne isn't registered as a payday loan in Ohio, I think they are registered as a personal loan but I'm not 100% sure of that. If I were you, I would look over the contract they sent to you via email and see what they have listed them selves as, either that, or contact the your DFI at (614) 728-8400.
OK....It looks like they are licensed in Ohio as a CSO....what w
OK....It looks like they are licensed in Ohio as a CSO....what would be the best way to handle tem?
Quote:Originally Posted by AnonymousOK....It looks like they are
Quote:
Originally Posted by Anonymous OK....It looks like they are licensed in Ohio as a CSO....what would be the best way to handle tem? |
I would send them a letter certified mail with a good faith payment, I would explain your situation and request a reduction in payments. This way, if they should ever decide to sue you, you will have documentation proving that you were TRYING to work with them, and the judge will see this and probably just order a payment plan anyway. Continue sending them payments via the mail with money orders, as much as you can when you can, if you continue to do this by the time it does go to court (IF it does) it will most likely be paid off or close to being paid off.
I just got an email from their "legal" dept today stating they w
I just got an email from their "legal" dept today stating they would cease all communication -- remove me from their phone lists, etc...but that I was still obligated to the loan, and they would like to resolve this amicably. They insist that although they arent liscened in KY they operate under DE law... I went ahead and filed a formal complaint with the Ky Dept of Financial Institutions who will investigage, and the BBB. I dont want this reported on my credit bureaus -- and since they are illegal in KY, I am thinking they wont have a leg to stand on with that. I have not responded yet -- I just told them I wanted to be marked PAID IN FULL as i have overpaid already --- do you think I should just let the BBB and Ky dept of finance handle it from here??
Quote:Originally Posted by AnonymousI just got an email from the
Quote:
Originally Posted by Anonymous I just got an email from their "legal" dept today stating they would cease all communication -- remove me from their phone lists, etc...but that I was still obligated to the loan, and they would like to resolve this amicably. They insist that although they arent liscened in KY they operate under DE law... I went ahead and filed a formal complaint with the Ky Dept of Financial Institutions who will investigage, and the BBB. I dont want this reported on my credit bureaus -- and since they are illegal in KY, I am thinking they wont have a leg to stand on with that. I have not responded yet -- I just told them I wanted to be marked PAID IN FULL as i have overpaid already --- do you think I should just let the BBB and Ky dept of finance handle it from here?? |
yes,in fact respond to them by saying that KY law prevails.also any further emails or correspondence will be forwarded to your AG and DFI for further scrutiny.i wouldn't trust them,and would expect further correspondence.
Im awaiting a formal response from the Ky DFI ... should be gett
Im awaiting a formal response from the Ky DFI ... should be getting one tomorrow. I think I will then send one last email stating exactly what you said.
They have only coresponded via email -- no phone calls --