VIP Loan Shop Response
Date: Wed, 04/14/2010 - 11:46
I had an outstanding loan with VIP with a balance of $120 on a $300 loan. I emailed a letter similar to what I found here and receive the response that unless I paid $390 I would be sent to collections. I replied to that email as seen below and received an email within minutes stating they would accept the balance due of $120 and would then send me a PIF statement.
I want to thank everyone on this site. Not only do you have valuable information which I used in the letter below, you made me feel not so crazy!!!
Thank you for your response. I have already paid your company $900 for a $500 loan previously and have paid $180 on the current $300 loan. Therefore, I legally owe your company a total of $120 which I am willing to pay. Please note I am not a resident of Nevis, have never prescribed to be a resident Nevis and have no Nevis presence, as such am not subject to the Nevis laws you detail. Therefore, my state (Connecticut) law prevails. (If you are indeed licensed in the State of Connecticut, please supply your license number). Under this premise, I am more than willing to pay the outstanding balance on my loan with you ($120.00). I will need an address to send a US Money Order.
I do not take threats of being sent to a collection agency lightly. If you choose not to accept payment from me, that is your decision. However, any reasonable, legitimate business entity would not reject a payment offer being made that would clear the original debt. I would like it in writing that you are not going to accept the funds that I legally owe you. As I am NOT trying to get out of paying your company, if I am sent to a collection agency, I will take this up with the Attorney General???s Office, State of CT, the Federal Trade Commission and the Better Business Bureau. I will also start bankruptcy proceedings in which case you won???t get any monies from me.
The bottom line is I owe your company $120, the balance of a $300 loan I did indeed obtain from your company AND WHICH I AM TRYING TO PAY YOUR COMPANY. However, due to unforeseen circumstances, I need to pay this debt to your company via US Money Order. Again, it seems to me that any legitimate company would be satisfied with the $400 dollars they have already made off of me, and would accept the balance due on the current loan that I have.
I appreciate your immediate attention to this matter.
Thank you.
I want to thank everyone on this site. Not only do you have valuable information which I used in the letter below, you made me feel not so crazy!!!
Thank you for your response. I have already paid your company $900 for a $500 loan previously and have paid $180 on the current $300 loan. Therefore, I legally owe your company a total of $120 which I am willing to pay. Please note I am not a resident of Nevis, have never prescribed to be a resident Nevis and have no Nevis presence, as such am not subject to the Nevis laws you detail. Therefore, my state (Connecticut) law prevails. (If you are indeed licensed in the State of Connecticut, please supply your license number). Under this premise, I am more than willing to pay the outstanding balance on my loan with you ($120.00). I will need an address to send a US Money Order.
I do not take threats of being sent to a collection agency lightly. If you choose not to accept payment from me, that is your decision. However, any reasonable, legitimate business entity would not reject a payment offer being made that would clear the original debt. I would like it in writing that you are not going to accept the funds that I legally owe you. As I am NOT trying to get out of paying your company, if I am sent to a collection agency, I will take this up with the Attorney General???s Office, State of CT, the Federal Trade Commission and the Better Business Bureau. I will also start bankruptcy proceedings in which case you won???t get any monies from me.
The bottom line is I owe your company $120, the balance of a $300 loan I did indeed obtain from your company AND WHICH I AM TRYING TO PAY YOUR COMPANY. However, due to unforeseen circumstances, I need to pay this debt to your company via US Money Order. Again, it seems to me that any legitimate company would be satisfied with the $400 dollars they have already made off of me, and would accept the balance due on the current loan that I have.
I appreciate your immediate attention to this matter.
Thank you.
I love your letter to them. Let me know how it goes. Being strai
I love your letter to them. Let me know how it goes. Being straight forward with them and telling them you know your rights is the best way to go. Good luck.
