I sent emails and faxes and have only heard from them letting me know that Northway Financial (which is Zip19) is licensed by the government of Malta as a financial institution, and the law of Malta, not the State of Oklahoma applies to its terms. They provided me with this notice so that I would understand the
terms of my loan. The only thing I have understanding of at this point is they want their money and I don't think they have marked my account as PIF. I responded to their first attempt at getting me to pay them more money by sending them the below:
"I am not a resident of Malta, have never claimed to be a resident of Malta, and never will be a resident of Malta, therefore, I am not bound by the laws of Malta. If you have any further questions or comments regarding this matter please contact my state's Attorney General's office. As stated in my previous correspondence, I have paid enough in fees charged by your illegally operating company to cover the $1100 outstanding balance. You should apply those fees to my outstanding balance and mark my account as paid in full. In order to come to an agreement quickly, I will not be asking for the additional balance I've overpaid to your illegal company in fees as a refund. Please keep those overpayments in consideration for marking my account as paid in full.
Have a nice day."
What are my next steps? This waiting is the hardest part! How far will they or, even more importantly, can they go in order to get their money?
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.