MySilverSafe
Date: Wed, 02/20/2013 - 09:35
I need you guy's help with this company.
The company is going by MySilverSafe.. Website is mysilversafe.com. When they deposited the money into my bank acount it came thru as "First West Coast Financial". I have tried to research both but can not see where either is legal in my state of TN.
I got a loan from them for $500, and I paid one payment of $75. When I realized they were probably illegal, I submitted a letter revoking authorization.. They did stop debiting my bank account.
I am suppose to be paying $75 a week, and this is all interest. Nothing is coming off of the principle.
Now I have been dealing with a person named Liz Hart who has been emailing me.
She is saying I owe $640. I asked her to provide me with licensing information on their company in my state and all she will say is "the company is licensed in TN." when I ask her for the license number or who they are licensed thru, she says this is all the information they can provide, that they are licensed.
I told her I would pay the remaining principle of $425 but she is saying that won't work..
The loan contract reads as follows:
MySilverSafe
4350 SALISH DRIVE SUITE 200,
VANCOUVER, BC, V6N 3M7 CANADA
Phone: 1-866-611-3528
Fax: 1-866-611-3528
Email: customerservice@mysilversafe.com
It also says this:
GOVERNING LAW: This Loan Agreement is governed by the Royal Proclamation of 1673, the
Indian Act of 1876, and the Constitution Act of 1982 pertaining to a business domiciled on and
licensed by the sovereign First Nation of the Lower Similkameen Indian Band ("LSIB"). This
Loan Agreement is not consummated until your loan is funded by us from our tribal bank account
in Canada, and your loan is repayable to that same account in Canada. We do not have a presence
in the United States of America. None of this loan, the Loan Agreement, nor Lender, is subject to
the laws of the United States or any state therein.
CAN SOMEONE HELP? IS THIS LEGAL?
The company is going by MySilverSafe.. Website is mysilversafe.com. When they deposited the money into my bank acount it came thru as "First West Coast Financial". I have tried to research both but can not see where either is legal in my state of TN.
I got a loan from them for $500, and I paid one payment of $75. When I realized they were probably illegal, I submitted a letter revoking authorization.. They did stop debiting my bank account.
I am suppose to be paying $75 a week, and this is all interest. Nothing is coming off of the principle.
Now I have been dealing with a person named Liz Hart who has been emailing me.
She is saying I owe $640. I asked her to provide me with licensing information on their company in my state and all she will say is "the company is licensed in TN." when I ask her for the license number or who they are licensed thru, she says this is all the information they can provide, that they are licensed.
I told her I would pay the remaining principle of $425 but she is saying that won't work..
The loan contract reads as follows:
MySilverSafe
4350 SALISH DRIVE SUITE 200,
VANCOUVER, BC, V6N 3M7 CANADA
Phone: 1-866-611-3528
Fax: 1-866-611-3528
Email: customerservice@mysilversafe.com
It also says this:
GOVERNING LAW: This Loan Agreement is governed by the Royal Proclamation of 1673, the
Indian Act of 1876, and the Constitution Act of 1982 pertaining to a business domiciled on and
licensed by the sovereign First Nation of the Lower Similkameen Indian Band ("LSIB"). This
Loan Agreement is not consummated until your loan is funded by us from our tribal bank account
in Canada, and your loan is repayable to that same account in Canada. We do not have a presence
in the United States of America. None of this loan, the Loan Agreement, nor Lender, is subject to
the laws of the United States or any state therein.
CAN SOMEONE HELP? IS THIS LEGAL?
They are an illegal payday
They are an illegal payday loan lender. The loan agreement is null and void. What they have told is completely BS. Just pay $425 to them. That's it. Not a dime more.
You are definitely dealing
You are definitely dealing with an illegal lender here because:
a) These people are located outside the United States. You are only subject to state and Federal laws, not the laws of Canada.
b) These guys are also tribally funded making them doubly illegal.
Just stick to your guns and repay the remaining principal amount through money orders only. No need to get into any repayment plans or arrangements with them.
