Hydra Financial Fund & CMG - Illegal Vs. Legal PDL
Date: Fri, 02/17/2012 - 16:11
Hydra Financial is clearly illegal - I have searched Florida records thru Sunbiz, then their docs even state "governed by the laws of the commonwealth of New Zealand".
Today, NCA advised me via mail that CMG is pursuing me for this loan from Hydra Financial. Again Hyrda financial is illegal, I told them this and they never contacted me. (their docs do NOT mention CMG anywhere!!!)
The kicker is - I pulled my bank statements as Chase was good re: ID where money went to /from via an ID code & surprisingly, they have the same code. {I am guessing CMG was in trouble in Florida, so had to stop giving loans as did not want to lose their license}
I will be preparing my Dunning Letter to NCA so do I enclose the docs showing Hydra only being mentioned and the continuous mentioning of them being governed by New Zealand. Of course, stressing I do NOT have a loan from CMG so they cannot collect on an illegal loan.
FYI Florida law requires all lenders to be licensed in the stat
FYI Florida law requires all lenders to be licensed in the state regardless of their geographical location. Loans made by unlicensed lenders in the state are non collectible. If a third party collector or the original lender is trying to collect on a loan which is not supported by a Florida license they are wasting their time if they try to pursue beyond making threats. This is supported by the Florida Consumer Financial Act. Also Florida is a non garnishment state so your paycheck is safe if your are the head of household even if the household consists only of you alone.
Do not sweat these out of state lender and especially the offshore ones. Once you stand your ground they will back off.
update
I made the mistake of calling NCA to inquire why they are collecting for CMG when I no longer have a loan with them - I asked the date of the loan and guess what they gave me the Hydra Date - I advised this is not CMG it is Hydra & Hydra clearly admits they are not licensed in Florida. I am placed to a 'supervisor' who firsts acts concerned, then tells me that CMG and Hydra and Summit/Vista are all owned by Bahama Marketing - I laugh and said well guess what Summit/Vista owes me over $1k in refunds as they too arent licensed here so why dont you just apply my $1k in overpayment to the $500 Hydra loan.
Supervisor gets real flustered and I repeatedly tell him he cannot pursue me legally in Florida anyhow & if he does pursue me on an illegal debt, I can turn him in too. He got upset and said how do you know so much - I advised I did my research. Then he starts yelling accusing me of internet fraud, that I am scamming them as I closed my account and he can file this on my credit report. I told him then I will have it removed and file a complaint against his company for pursuing an illegal loan and laughed. Then I advised he was too loud and ended my call!
Lesson learned today - do not call NCA or any collector of 'illegal debt' & to just send the dunning letter (stressing they are collecting an illegal loan and I can easily also refer them to FL OFR, AG and FTC.
I am one month into my journey and it appears the fun has begun w/ the letters, emails and phone calls.