How do I respond?
Date: Thu, 04/22/2010 - 08:44
I finally made the first step in trying to take care of my payday loan hell. I live in AZ. I have a $300 loan out with Instant Cash USA. The payment did not go through, and they sent me an email. This is what I sent them:
"Hello,
Sorry for the inconvenience. Unfortunately, it has become dificult to pay back the loan in the amount withdrawn. Would you please send me an address where I can mail money order payments? Also, just to make sure fees are where they need to be, could you send me your Arizona business license number? I'd hate to overpay. Thanks!"
This is what I got back:
"We are a Canadian entity and do not fall under any state regulatory requirement. This was fully disclosed in the loan document you signed.
Your balance is $510.
Mike"
How do I respond to Mike?
I have a few (okay 8) others, and my old bank is being idiotic about some of this stuff. I'll probably be asking various questions on this board now.
Tell them you are not a resident of Canada, never claimed to be
Tell them you are not a resident of Canada, never claimed to be a resident of Canada and have no Canada presence, therefore you are not bound by their laws. Your state law prevails, period. Also tell them, no address means no payments.
They must be licensed in your state and follow your state's regu
They must be licensed in your state and follow your state's regulatory requirements in order to give out legal loans. They may be incorporated in Canada, but they still have to follow US laws. Any term in the contract that said otherwise is an illegal term.
You can use this link: http://azdfi.gov/Lists/Lists.htm to find a list of all the payday lenders in AZ and go here: http://azdfi.gov/CAD/Complaint_Form.htm to file a complaint.
Thanks! I sent them a template of the illegal lenders thing I f
Thanks! I sent them a template of the illegal lenders thing I found on this site.
Quote:Originally Posted by AnonymousThanks! I sent them a templa
Quote:
Originally Posted by Anonymous Thanks! I sent them a template of the illegal lenders thing I found on this site. |
Please keep us posted!
Mike has been replaced with Sandy. She called both my cell and
Mike has been replaced with Sandy. She called both my cell and work numbers (even though the templaye says email only). Conveniently deleted the template :-p
_______,
[FONT=Arial][SIZE=2][/SIZE][/FONT]
Your account has been turned over to me for payment.
[FONT=Arial][SIZE=2][/SIZE][/FONT]
I can be reached at 1-888-255-1110 ext. 6043 or 6044
[FONT=Arial][SIZE=2][/SIZE][/FONT]
I have a settlement offer for you.
[FONT=Arial][SIZE=2][/SIZE][/FONT]
Thank you,
[FONT=Arial][SIZE=2][/SIZE][/FONT]
Sandy
Collection Recovery Dept.
[FONT=Arial][/FONT]
[FONT=Arial][/FONT]
I responded that I want it in writing, and we'll go from there. No backing down though
Quite honestly, I wouldn't even talk to them on the phone, make
Quite honestly, I wouldn't even talk to them on the phone, make them reply via email and make them comply by only negotiating via email.
Quote:Originally Posted by ShazzersQuite honestly, I wouldn't ev
Quote:
Originally Posted by Shazzers Quite honestly, I wouldn't even talk to them on the phone, make them reply via email and make them comply by only negotiating via email. |
Didn't answer either time ( I love voicemail!). I have no intention of answering to anyone.
"Your current balance is $510 We will settle for $300 Please c
"Your current balance is $510
We will settle for $300
Please call me so that we can discuss the Settlement.
Sandy"
How funny.....
How should I respond? The $300 was given to me at the beginning of March. I've paid them $180 on a loan that is illegal in my state (AZ). Can I argue that rollovers should not have been allowed and they should apply the $180 towards the principle?
Just tell them they will get $120.00 because that is all you owe
Just tell them they will get $120.00 because that is all you owe them, they aren't licensed!
Told them that, stating the dates the $180 was paid, and again a
Told them that, stating the dates the $180 was paid, and again asked for a physical address.
Sigh... One negotiated with, six to go....
Quote:Originally Posted by AnonymousTold them that, stating the
Quote:
Originally Posted by Anonymous Told them that, stating the dates the $180 was paid, and again asked for a physical address. Sigh... One negotiated with, six to go.... |
"The settlement offer is good until 5:00 PM today 4/22/10
Otherwise your current balance will be $510"
Now what?
Quote:Originally Posted by Anonymous"The settlement offer is goo
Quote:
Originally Posted by Anonymous "The settlement offer is good until 5:00 PM today 4/22/10 Otherwise your current balance will be $510" Now what? |
keep sending the e-mail stating you owe 120.00.being in canada and illegal they can't co a thing to get anymore oyt of you.re-send that e-mail time after time.they should get the hint one of these days.
Also send a cease and desist letter via email, since they are no
Also send a cease and desist letter via email, since they are not giving you a physical address. A cease and desist letter tells them they are to stop calling you and spells out a. what kind of contact they may make, be it written or email.
Like everyone has said, all you owe is $120--and no matter what they say, they are not going to risk dealing with a judge for a $300 loan. It's too risky for them.
Just curious, is the company Sonic, by any chance? And did you sign a wage assignment letter? If you did, revoke that puppy immediately with your payroll dept, because that will be their next move: trying to get into your paycheck.
Quote:Originally Posted by ShazzersJust tell them they will get
Quote:
Originally Posted by Shazzers Just tell them they will get $120.00 because that is all you owe them, they aren't licensed! |
She did the same to me:
You balance is $510.00
we settle for $300.00
I owed them $180.00 so I told her that I will made my first payment for $180.00 with a Prepaid card, I did it and then I didnt sent more payments, they sent me a to collection and I sent a DV letter, I havent heard from them since.:neutral: