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My Web Funds-MexSend SAPI

Date: Wed, 05/08/2013 - 08:21

Submitted by anonymous
on Wed, 05/08/2013 - 08:21

Posts: 202330 Credits: [Donate]

Total Replies: 18


Good Morning,

I have taken out a few loans with My Web Funds, and have paid them all in full, PLUS interest. I have over paid the principle on about 4 loans. They now switched owner's and their name is under My Web Funds still, but then MexSend SAPI also. They FAILED to take out my payment 2 Fridays ago. They send me an email saying this was an error on their part. Today I got an email saying I skipped a payment and they would take legal action. I responded (with their original email of THEIR mistake), told them I would make my payment this Friday, but I would not under any circumstance double pay for their mistake. Additionally, when I go to log in to their website, there is a customers before April 1, 2013 link to sign in which is me, and the page can not be found. All seems so fishy to me. I also keep getting emails saying loan approved. But I haven't applied for another loan.

My question is, does anyone out there know if they are a legal lender? I am in Texas, and I know they are based out of Mexico.

Definitely confused!

Thanks,

Kristen


They are an illegal lender!!! Follow the steps in my signature line to protect your bank account ...send them an ACH revocation, give a copy to your bank and close that account!!!!!!!!!!!!


lrhall41

Submitted by SOAPLADY on Wed, 05/08/2013 - 12:07

( Posts: 17315 | Credits: )


They are an illegal lender. You owe nothing more than the principal. No interest, no fees. Ask them for a refund as you have already overpaid them. Don’t worry, they can’t do anything. Just close down your old bank account and open a new one to stop debiting money from your account.


lrhall41

Submitted by on Thu, 05/09/2013 - 01:00

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Soaplady-

Thank you for your response-I have a question-I do still have a loan out with them, I believe I have taken out 4 from them, and overpaid all of them...would the overpaid portion that I have sent them, be able to be applied to my principle balance? Or should I still pay off the principle of my last loan.

I will be sending these emails right away! Thank you for your response!!


lrhall41

Submitted by on Thu, 05/09/2013 - 06:49

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let me answer that as yes you apply any overpayments on previous loans to this one.


lrhall41

Submitted by paulmergel on Thu, 05/09/2013 - 06:51

( Posts: 15514 | Credits: )


Thank you again, and will keep you posted-sending email now with PIF request, refund request, and total debits, and deposits to date. Thank you!


lrhall41

Submitted by on Thu, 05/09/2013 - 07:32

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I just went through my WHOLE account in total I received 1800 dollars in deposits from them. I have paid in total 2365.93. So I can ask for my account to be paid in full, along with a refund of 565.93, correct?

THANK YOU for your help, can't believe how naive i was!


lrhall41

Submitted by on Thu, 05/09/2013 - 07:15

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I just went through my WHOLE account in total I received 1800 dollars in deposits from them. I have paid in total 2365.93. So I can ask for my account to be paid in full, along with a refund of 565.93, correct?

THANK YOU for your help, can't believe how naive i was!


lrhall41

Submitted by on Thu, 05/09/2013 - 07:15

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you can request a refund.at the least a PIF just secure your account and don't pay another dime.also don't be swayed by their emails,phone calls,and threats.


lrhall41

Submitted by paulmergel on Thu, 05/09/2013 - 07:23

( Posts: 15514 | Credits: )


One more question, is there a website or somewhere to see how to find out if they are licensed or not. I'm worried they are going to respond to me claiming they are legal in Texas, and I want to be prepared on what to say. I have corresponded with them through email quite a bit in the past few months, so I'm hopeful that they will respond, and I want to be sure to know what to say


lrhall41

Submitted by on Thu, 05/09/2013 - 07:43

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Phone number at the bottom

Texas Payday Loan Laws
State Legal Status
Lending of payday loan is legal in the State of Texas.

Loan Specifications

Term of Loan - 7 to 31 days
Maximum Rate of Finance and Fees- $10 per loan plus 48% rate of interest (annually)
Finance Charge on $100 loan for a 14 day period - $12
APR for $100 loan for a 14 day period - 309%


Debt Limits

Maximum Number of outstanding loans permitted at a time - Not Specified (Aggregate outstanding loans of $500 to all licensees)
Permissible number of Rollovers - None (if charge of renewal is less than the permissible rate of interest; otherwise can be converted to declining balance installment note)


Limits of Collection

Collection Fees - Not Specified
Criminal Action - Not Specified


File your Complaint and get Information

Regulator - Texas Office of Consumer Credit Commissioner
Address - 2601 N. Lamar Blvd. Austin TX 78705
Phone - (512) 936-7600
Fax - (512) 936-7610


lrhall41

Submitted by SOAPLADY on Thu, 05/09/2013 - 08:14

( Posts: 17315 | Credits: )


So if loans are legan in Texas, then how can I tell that MY WEB FUNDS isn't licensed in TX. Sorry I know i have a lot of questions, I just want to cover my basis like I said, because I'm sure they will come back with a lot of legal jargon to my email spitting out tha tI signed the agreement, etc.

Sorry to be a bother!


lrhall41

Submitted by on Thu, 05/09/2013 - 08:27

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Online lenders must be licensed in Texas. - if they are not then they are illegal.. You can check here to see licensed.. Texas Office of Consumer Credit Commissioner: http://www.occc.state.tx.us/pages/searches.html


lrhall41

Submitted by HelpinAZ on Thu, 05/09/2013 - 14:04

( Posts: 1870 | Credits: )


Highly unlikely since they are out of Mexico - follow the link on how to deal with - how much borrowed and how much repaid to date? Also, please register with forums - it will be easier for you to find your answers, there is the thread on how to register - http://www.debtconsolidationcare.com/forum-tutorial/how-to-register.html


lrhall41

Submitted by HelpinAZ on Thu, 05/09/2013 - 15:45

( Posts: 1870 | Credits: )


Hi Kristen, I have been having trouble with this company for months I'm taking legal action against them. They are an illegial company out of Mexico who filed a ficitious name My Web Funds USA in Hollywood, FL.


lrhall41

Submitted by on Tue, 07/02/2013 - 09:52

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