PayDay Loan Trap

Being that Check N GO is legal I will pay them but as far as the rest go, I have my letters written and I will email them and certify mail them as soon as I close my current bank account. How will these lenders affect your credit being they were illegal to begin with? On my initial letter I have requested they cease and desist any verbal / phone communication and demand written communication only. I have attached the letter I will send to make sure it's correct. On most of these I haven't made payments yet since these were 15-day loans which I repaid and reloaned.

I am not opening an attachment....post your letter in the body of your post.

FYI....cease and desists dont work on first party or the original creditor. They only apply to collection agencies.

Sorry about the attachment here is the letter. However being that C&D won't work is there anyway to prevent them calling my work?

Dear Lender,

It has come to my attention that payday lenders must be licensed by the state of Florida in order to offer loans to its residents. Since your company has no license in my state, the loan contract I have with you is not valid. Although I am not legally required to do so, I am willing to repay the principal balance of this loan. To date, I received a deposit of $____ on (insert date).

I am also revoking authorization for ACH withdrawals and any wage assignment I may have signed. I have given a copy of these revocations to both my bank and my employer. Any future attempts to collect funds in this manner will be blocked.

Additionally, I hereby demand you cease and desist ALL verbal and/or phone contact with me, and anyone associated with me, including friends, family, coworkers, and place of employment. For this moment forward all communication should be done through email or postal mail.

Upon acknowledgment of this communication, I shall arrange for payment of the principle amount of this loan.

******TO CASHCALL ONLY****** //DELETE THIS LINE BEFORE SENDING
The original creditor is located on an indian reservation making the contract null and void.

Thank you,



Signature Line

I don't know the particulars but despite the fact that may list an address in PA they're located in Malta according to everything that people here have dug up. Regardless of whether they're a payday lender, installment lender, etc., they still have to be licensed to operate in your state. The Credit Services Organization moniker is just something they use to appear more legitimate.
I borrowed (and paid back) a ridiculous amount of money from them before putting a stop to all my payday loans and they did settle for principal only since they know they're not legal.

http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html

What state are you in and how much have you already paid on these loans?

Other than Check N Go those are all illegal tribal or offshore lenders and you are only morally obligated to pay the original principal borrowed, on your terms not theirs.

You need to close your bank account, Send ACH revocation letters to each of them AND your bank ande also revoke any Voluntary Wage Assignment both with them and also give a copy of that to the HR folks at your job. They don't need to know anything more than that you were a victim of fraud.

Despite their threats they cannot legitimately garnish wages without court action which they can't do because they're illegal and they know the loan is unenforceable You can't be arrested either.

Western Sky/Cashcal is tribal
Great Plains Lending is tribal
MyCashNow is foreign (Canada)
247Greenstreet is foreig, (offshore)

Check N Go is the only legitimate lender there.

This is great to hear. I will work on closing the account and I do plan on paying as much as my bonus allows then I can arrange payments. I will make sure to take care of check n go but I do have another question, 247 Green Street is really Northway Financial. Could it be they are legal as a Credit Service Organization?

I've sent the initial letters and I have seen them calling but I have not answered and continue waiting for an email response. I repaid both of my Check N Go loans on time since they are a legal lender in Florida and closed my account. I have a question, I will try to settle with the other lender for principle amount but I do not have the money to pay them all in a lump sum so I will offer to settle for principle and make monthly payments. If for some of these lenders I was a repeat customer can I take into account all of the other fees I have paid as credit towards my current outstanding or will this not work?

When you're talking about illegal lenders they get the principle on your terms, not theirs. I had to do that with a couple of mine.

You really have to push to get most of them to apply overpayments on previous loans to current loans. They will insist they can't do that.Be persistent and see what happens.

A few questions so to better assist you:

How did you send the letters to them originally?
How much have you paid them each to date?

I sent the letters via email. For Great Plains and Western Sky I have not paid anything to date since my account was closed prior to the first withdrawal. I do intend to pay the principle once they respond. Today I got a call at work while I was in a meeting and the voicemail said I had to call today because they were filing a law suit and I needed to give a statement. She said if my attorney or I didn't call before end of day she would give the statement of refusal on my behalf and contact the local authorities to serve the court documents. She did not give a company name so I called the 1800 back and the recording says its from NCS Offices, has anyone heard of them? The recording gives an option to speak to someone if you have been recently served so I wonder if they are a legit company.

If I am unable to locate an email address for MyCashNow should I mail a letter to them? They're address appears to be in Canada so I don't think I can certify the mail but would tracking help?

Yes you can certify and track to canada.