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Help on how to proceed

Date: Wed, 09/19/2012 - 16:25

Submitted by gaberia419
on Wed, 09/19/2012 - 16:25

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Total Replies: 4


Okay so I've been following all the information I've received on this forum on how to deal with unlicensed lenders and so far I've been doing very well, and have settled 3 of them. However I am having some trouble with MyPayDayLoan. I took out a loan with them a few months ago for $400 and have paid $360 in fees so far, so I wrote them a letter and told them I was willing to pay the remaining amount of $40. I received a reply today informing me that I owe a balance of $520 and they will turn over to collections if I do not pay. I wrote them back stating it was a unlicensed loan and I do not owe anything more but principle and will not pay anything more then this, I've asked twice for a mailing address or MoneyGram instructions to send this payment and they only keep responding with how I owe for the whole thing since I signed their contract. Do I just ignore them at this point? I've already notified my employer and bank and both are willing to work with me if they try to withdrawal from my account.


Send them this exact message -

Dear National Payday Loan,

You can stick your 520 dollar balance up your ass. Either take my 40 dollar payment, or sell it to collections and I will cease and desist them. You take your pick. No skin off my back either way, infact, if you sell it to collections I get to save 40 bucks (minus the CMRRR cost and postage).

Love,

Your customer


lrhall41

Submitted by waffles on Wed, 09/19/2012 - 16:45

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If they do not want to provide you with a mailing address to mail a money, do not pay them. You have no legal obligation to pay them a penny more, only a moral one. And if they send you to collections, simply cease and desist the CA...they are collecting on "dirty paper" that is not legally enforceable.


lrhall41

Submitted by SOAPLADY on Wed, 09/19/2012 - 16:47

( Posts: 17315 | Credits: )


i wouldn't waste much more time with them as you made your position quite clear.


lrhall41

Submitted by paulmergel on Thu, 09/20/2012 - 10:03

( Posts: 15514 | Credits: )