Pay Day Loan Help
Date: Wed, 01/27/2010 - 19:35
I live in KY and took out an internet Payday loan in December 2008 for the amount of $300.00 from Paradise Cash Advance (aka International Equity Group). $375.00 was taken out of my checking account on 2/27/09 and that was the last I heard from them until about two months ago when someone from Smith, Haynes, and Watson began calling me saying that I owed this company 190.00 for extension fees and NSF fees. When I asked them for debt validation they proceeded to take (unauthorized of course) $95.00 from my checking account. I got my money back from the bank, then proceeded to close that bank account, open a new one, and write letters to the attorney general, the Better Business Bureau, and SHW asking for debt validation and telling them to cease and desist all collection attempts. The BBB opened a case and SHW responded that I still owed the 190.00 and then actually did send me some paperwork that basically says that 395.00 was paid. I called them to make sure that I was understanding that I had paid above and beyond the principle amount of the loan and although they said I had, they said that if I did not pay the other fees, they were going to put this on my credit report. I really don't know what to do. Can someone please give me some advice on what I should do next and where I stand legally? Thanks.
Please check out the following discussion about the collector, S
Please check out the following discussion about the collector, SHW.
www.debtconsolidationcare.com/settlement/about29885.html
Regarding the lender, are they legal in your state?
I have no idea if they are legal. How would I find that out? I
I have no idea if they are legal. How would I find that out? I actually think that no internet payday loans are legal in Kentucky.
Your state requires internet lenders to be licensed by the state
Your state requires internet lenders to be licensed by the state. You can search the lender's name in the licensing database.
"http://fi.ky.gov/scr/ifs/default.asp?div=cs"
Quote:Originally Posted by adrianne_claireI live in KY and took
Quote:
Originally Posted by adrianne_claire I live in KY and took out an internet Payday loan in December 2008 for the amount of $300.00 from Paradise Cash Advance (aka International Equity Group). $375.00 was taken out of my checking account on 2/27/09 and that was the last I heard from them until about two months ago when someone from Smith, Haynes, and Watson began calling me saying that I owed this company 190.00 for extension fees and NSF fees. When I asked them for debt validation they proceeded to take (unauthorized of course) $95.00 from my checking account. I got my money back from the bank, then proceeded to close that bank account, open a new one, and write letters to the attorney general, the Better Business Bureau, and SHW asking for debt validation and telling them to cease and desist all collection attempts. The BBB opened a case and SHW responded that I still owed the 190.00 and then actually did send me some paperwork that basically says that 395.00 was paid. I called them to make sure that I was understanding that I had paid above and beyond the principle amount of the loan and although they said I had, they said that if I did not pay the other fees, they were going to put this on my credit report. I really don't know what to do. Can someone please give me some advice on what I should do next and where I stand legally? Thanks. |
If they put it on your credit report, dispute it on the grounds the loan was obtained by an unlicensed lender, therefore making the loan void and uncollectable. Paradise is not a licensed lender in your state. CLICK HERE to find out how to deal with illegal lenders.