Installment Loan Company vs Payday Loan company
Date: Thu, 03/28/2013 - 11:10
Lets get some things cleared up right away. You are stating we are a payday loan company. WE ARE NOT A PAYDAY LOAN COMPANY. WE ARE AN INSTALLMENT LOAN COMPANY. At the moment you never asked for a license did you? I think not. Again we are not a payday loan company, we are an installment loan company in which you signed multiple contracts to. The oldest loan you have with us you signed a contract amount of 621.78USD and in which we recieved a total of 531.38USD. The second loan you have with us you wilingly signed contract amount for 714.31USD and in which you have only paid 267.81USD. You were aware of how the interests works and as well as you having the option to payoff any loan would save yourself some interests. Of course at the moment you probably didnt read them thoroughly. As far as refund goes, you still owe money to the company since the loans due have remaining principal balance. Their is no money to be refunded, their is money to be collected since the contract you legal agreed upon has not been covered. Any further questions you would like for us to answer feel free to respond and or call in.
How should I proceed I live in Ohio this company is mywebfunds
Installment Loan Company vs Payday Loan company
I had two loans with them. One was for 300.00 the second for 400.00. According to their records I have paid 531.38 on a contract amount of 621.78 toward the 300.00 loan and have paid 267.81 on a contract amount of 714.31 toward the 400.00 loan.
I wanted to confirm they are in fact illegal before exercising my right to only have to pay the principal amount borrowed. 700.00 total. At this point I'm not concerned with a refund amount due of 99.19 I just want them off my back. They have left a voice mail on my phone and sent me an email that I have commited internet fraud.
To clarify/expand on what
To clarify/expand on what Steve said, it doesn't matter if they are installments or payday. They are illegal for lack of license/offshore/tribal.
What were the actual amounts
What were the actual amounts that you had borrowed on both counts? They are basically trying to state that since you never repaid them completely, there cannot be any refund.
MyWebFunds is an illegal lender based in Mexico, you need to begin by revoking ACH authorization in writing with the bank and the lender.
Follow the steps mentioned here:
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
do this
forward that email to your AG,AND THE FTC as part of complaints you file against this illegal piece of crap.fraud is a crime,and as we always say debts are civil matters at best.file the complaints and ignore their sorry asses.
They are unlicensed charging
They are unlicensed charging usary interest rates. Ignore their messages....they are just trying to scare you.
The Nightmare is over thank you!
I finally after several months of phone calls and emails threats to sue and charge me with internet theft and fraud have gotten an acknowledgment from mywebfunds that my account is closed. paid in full and that I am owed a refund from them sent via email to me and to Ohio attorney generals office. They are now requesting my account information to send me my refund . No way I am giving them my account information. I will request they send via mail Feels so good to have this behind me.
For anyone dealing with this or any other of the illegal lenders take it from me. This forum is a valuable source of information. Take their advice and use it. Know your legal rights and follow the steps laid out for your situation. You will come out of this . Thank you to all those who contribute their knowledge you have really done me a huge favor. I can't tell you how much i appreciate it
Glad to hear that things
Glad to hear that things worked out in your favor. We like to hear success stories!!!
