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500fast cash, determining actual $$ owed

Date: Mon, 11/02/2009 - 16:08

Submitted by anonymous
on Mon, 11/02/2009 - 16:08

Posts: 202330 Credits: [Donate]

Total Replies: 3


We got a PDL from 500fastcash back in june for $350. We live in CA and I am aware of the laws for PDL's in CA. We made the initial fee payment and then apparently made a second payment on the "due date" of just the fees. We closed our bank account after the second payment due to having a lot of PDL's and doing settlement with most. I then spoke with their "collections" dept at the end of Sept cause they were wanting payment - of course. But then it was going to be a total of $532...I did not think about it at the time, so I paid $162 and said I would pay more the next month. But long story short....how do I determine how much I legally had to pay and how much is still owed on the original debt, so that I can send them a letter of such and get them off my back?


No, I gave them the card number, but that card was canceled/stolen. They called back once, kinda funny they haven't tried more. It was the actual company that I have spoken with. I was looking at the CA state laws regarding these loans and determined that the intial fee was twice what they are allowed to charge - which is 15%, so can't I also calculate that into the total amount paid them. AND do I send them a certified letter denoting all this info and a final payment of the determined amount?

thanks


lrhall41

Submitted by on Tue, 11/03/2009 - 07:03

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