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Wage assignment costa rica - is this a licensed lender?

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I don't know how this happened. I am so embarassed.
Principal Payment
Payday One $1000 $250
MyCashNow $530 $175
Loan Point $400 $120
One Step Cash $400 $1350
Think Cash $500.00 $84.46
National Payday $360.94 $90.24
Cash Net USA $450 $77.25
Sign My Loan $400 $120
East Side Lender $500 $150
United Cash Loan $400 $120
500Fast Cah $300 $90

I am NEVER going to get out of this...HELP HELP HELP...PLEASE!!!




If NATIONALPAYDAY's address is in Costa Rica then they probably aren't legal either, if you have paid them the principal amount you borrowed, then you do not owe them another dime! Please do not allow these illegal/unlicensed lenders intimidate you, they will try every trick in the book to get as much money from you as they can, they are thieves! It's very important that you get a letter sent out to these illegal lenders revoking wage assignments, then give a copy to your employer, this way they can not attach your wages! Please follow the steps above and you should be fine! :)

Sub: #11 posted on Tue, 09/30/2008 - 06:52

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17344 | Credits: )

Ok. I am just so scared. I see other people having success, but they are not in Pennsylvania.

So...I need to close my bank account (will do tomorrow)
Start the letter writing. I saw a sample letter in another post. One letter will cover (1)do not call me, my references or my employer (2)consider my account pif.

That is for the illegal ones
1. Mycashnow, Onestep, 500fastcash, Unitedcashloans and National cash.

What about the legal ones?
1. Eastside, Paydayone, Thinkcash and Cashnet?
Do I send a letter saying "Do not contact me via phone. I want to set up a repayment option on the principal only?"

I am not clear on what I can ask for from them!!! What are the chances of them settling?

You have been a lifesaver to me so far. I finally feel like I am not alone and I might actually survive this! Can you please get me more info....

Sub: #12 posted on Tue, 09/30/2008 - 07:18

nikpop nikpop

(Posts: 32 | Credits: )

Nikpop, you are MOST definately at the right place. Take a deep breath, these people on here are awesome. They will talk you through it. Taking the first step (closing the bank account) is the hardest and also the first pdl you deal with. It WILL get easier. I bumped my last post which is titled NRS/Arrowhead. Read it, you are NOT alone. I also live in this horrible state that has the silly loophole. For the ones that are legal, send the letter and when they respond, talk to them. You don't know if they will work with you until you do. An example for me is PayDayOne. I owe $1300 and they wouldn't budge with the finance charges on the account (taking them off) but they first came back with a payment every two weeks of $250 which I couldn't afford so we worked together and got it down to $180. My point again, talk to the legal ones. I have other examples that I could share but won't now.

Hang in there, you are in the right place. By the way, keep EVERYTHING you send in one place that is easy to access.

Good luck,

Diane

Sub: #13 posted on Tue, 09/30/2008 - 07:33

dlsbrs dlsbrs

(Posts: 54 | Credits: )

Is this the letter to send to the ILLEGAL lenders? I found the one you posted and made the adjustments.
What about the LEGAL lenders?

______________________________________________________
Date:

Name Of PDL

NAME
Account #


After doing research regarding Internet payday loan laws in the State of Pennsylvania, I have found that your Internet payday loans are actually illegal. I have also found the following laws to be true applying to payday loans in the State of Pennsylvania in general:

Pennsylvania State Information

Legal Status: Prohibited

Citation:
Check cashers are specifically prohibited from making payday loans under Check Cashing Licensing Act of 1998, ???? 505(a). Otherwise, consumer discount company act applies. 7 Pa. Cons. Stat. Ann. ???? 6201 et seq.

Small Loan Rate Cap
$9.50 per $100 per year discount or 24% per year

Where to Complain, Get Information:
Regulator: Pennsylvania Department of Banking
Address: Market Square Plaza, 17 N. Second Street Harrisburg PA 17101
Phone: (717) 214-8343
Fax: (717) 787-8773
Regulatory Contact: Jim Keiser Administrator of Non-Depository Institutions

I hereby revoke any and all ACH authorizations with your company from debiting any of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I have closed my account with Washington Federal Bank to protect my interest in this matter, per instructions from The Pennsylvania Department of Finance. I also revoke any and all wage assignments I may or may not have signed with your company, I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes. I have notified my employer about this matter so any attempts to do so on your part will be rejected.

I demand that any contact be made through US Postal mail or email only. I will need everything in writing to keep accurate records of all communication as per instruction from my Attorney General's Office.
I prohibit you or your affiliates to contact me via telephone at my place of employment or my home
telephone number. I also prohibit you from calling my references listed on my loan.

Due to the fact that Internet payday loans must be licensed to be a legal and binding contract, I am requesting that you send me your license number which enables you to offer loans to Pennsylvania residents.

The legal amount that could have been charged to my loan is the principal amount, even IF your Internet pay day loan were legal anywhere in the U.S.. I am willing to pay the principle amount of the loan only, however, this is only if you provide me with a physical address where I can send payments.

I must also inform you that I will be filing complaints with the Better Business Bureau, the Federal Trade Commission, and the Pennsylvania Attorney General's Office.

I expect a response from your company no later than 5 days from the above date regarding this matter. This response may only come via US Postal mail or email. No telephone contact is permitted.

Sincerely,

NAME
CC:
Better Business Bureau
Pennsylvania Attorney General
Federal Trade Commission

Sub: #14 posted on Tue, 09/30/2008 - 07:33

nikpop nikpop

(Posts: 32 | Credits: )

Nationalpayday.com ??????? Apartado 10455-1000 ??????? San Jose, Costa Rica ??????? 1-866-513-0374

I am guessing this company is illegal?

Sub: #15 posted on Tue, 09/30/2008 - 11:51

nikpop nikpop

(Posts: 32 | Credits: )

I just called Langhorne to see what they can offer. What should I do? Can I really do this on my own? Their fees will be $1900 over the course of the payment plan. That is ALOT less that I have been paying. Does that mean my loans will be settled though? Or does that just mean they will try? I am so confused and scared. PLEASE RESPOND SOMEBODY!!!

Sub: #16 posted on Tue, 09/30/2008 - 12:40

nikpop nikpop

(Posts: 32 | Credits: )

Nikpop why don't you type Langhorn in the search box in the upper right hand corner of this forum and read what others have posted about them, that might give you a general idea of how good thier track record is. :)

Sub: #17 posted on Tue, 09/30/2008 - 12:49

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17344 | Credits: )

I did the search and got mixed reviews. Honestly, if I only had 4 or 5 loans, I would do this myself, but I don't know if I am strong enough. I have been going over and over this...here is what I am thinking:
1. Close my account effective TODAY. (my payments are all due 10/10/)
2. On 10/10, email letters to the illegal lenders saying that I am done, they cannot contact me, etc. (I attached my draft letter in a previous post)
3. On 10/10 email letters to the legal lenders asking for a payment plan.
4. If no one responds, let Langhorne take over the legal lenders. I will continue to fight the illlegal ones...at least from what everyone else says in the postings on this site, they usually settle.

I know you are not lawyers, etc, but from your experiences, does this sound like a plan? I would think the legal lenders would rather deal with me directly, so they get paid sooner?!
I am really ready to give it all to Langhorne.

Sub: #18 posted on Wed, 10/01/2008 - 04:55

nikpop nikpop

(Posts: 32 | Credits: )

Put your account on lock down and send your letters asap.

Sub: #19 posted on Wed, 10/01/2008 - 05:12

wssu92 wssu92

(Posts: 510 | Credits: )

Can someone please lead me in the right direction...when I search topics I am so overwhelmed.

Sub: #20 posted on Wed, 10/01/2008 - 07:35

nikpop nikpop

(Posts: 32 | Credits: )


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