Panicked in the Midwest

Welcome to the forums :D Sounds like you came to the right place!Take a deep breath and relax!As far as your new checking account,how would they know that existed or the acct. number?Second,they may call whoever you put down as references to try to get info on you.They are not supposed to give out any personal info on you to anyone.Have you tried to talk with them about your situation to see if you can work something out,might be worth a try.As far as credit counseling,It wouldn't hurt just to talk to them,you aren't bound by anything just talking to them,and they may be your answer,not sure about your credit card you want to keep,I think,you can include what you want to. But someone can correst me,I may be wrong about that. Good Luck :D ...Karen

1) Since you have included your parent's and friends name as reference, GFSIL will miss no chance in disturbing them since you are not sending them money. Before this happens, try to resolve the matter directly with GFSIL. Fix a settlement amount if they want to be paid back. You will have to negotiate hard on this deal, but it might help you in getting rid of them. Have everything in writing so that they don't bug you for any reason later.

2) If you are not comfortable with your checking account information with them, monitor your statements closely. Make sure that the payments done by you are according to the terms set in the settlement deal when you had a direct talk. If you don't want them to use your checking account, tell them that you prefer sending money through money order or western union. But, you must review your bank statements regularly.

3) Most loan companies keep asking for more and more money until you are aware of your consumer rights. It's very easy for them to make money like this. As I said earlier, get the settlement deal in writing and later, the 'Paid in full' letter. The point is that you should have everything in writing to prove your facts, in case you have to dispute with them later. There are many discussions about this company. Hope these links help in understanding about their business.

http://www.debtconsolidationcare.com/settlement/about12557-1.html

http://www.debtconsolidationcare.com/settlement/about13773.html

I spoke with someone from GFSIL a couple weeks ago regarding this and told them that I would feel more comfortable paying with a cashier's check and he told me that they only accept payment's electronically from a checking account. I can't agree to this with my old account because it's going to get closed, and I REALLY don't want to agree to this at the new one because I think that would kinda defeat the purpose. Any suggestions?

Send your payment anyway through certified check along with your proposal. Seeing the money in hand, if they check the cash, you will realize they have accepted your proposal. Even if they don't, you have proof to show your part of the responsibility and the reasons of keeping your checking account out of the picture. Try this.

But if they don't accept the proposal, I've just wasted my money correct? I'm sorry if I'm being difficult but I just don't want to get blindsided by anything.

If they don't accept your proposal, the check should not be cashed..right?? keep a watch on the status of your check to make sure the latest activities. Give some time for them to decide whether they should go ahead and cash your check. If they don't, you may have to work up another plan and the check needs to be returned back to you.

OK, let me rephrase, I'm not sure I wrote what I meant. Let's say, for isntance, I send a cashier's check for $279 (the original principal + the original interest) attached to a letter stating that I wish to settle this account for the original amount due, $279. Can't they simply take the money and just say no and ask for more? I'm just confused where exactly my rights are here.

But if it's a cashier's check, isn't it pretty much gone once you've sent it? I mean I pay cash for a cashier's check, even if they don't "cash" the check, the money is still out of my account.

I just posted something above while you were writing :)

It is a cashier check. It cannot bounce back because the face value has already been paid to the bank and now it is their obligation to ensure its delivery. If it doesn't, you can claim for it from the bank.

Can I track the status of a Cashier's check through the bank?

Yes, you will get a receipt from the bank and the status can be tracked until delivery.

Forgive me, but when you say "delivery"... does that mean I can track it until it arrives or track it until has been "cashed" and returned to my back.

Also, would you recommend this method with my other two loans as well? It sounds like a pretty decent plan, it would be nice to be uniform with them.

Yes

I just found out last night that companies in Wisconsin that are not licensed with the Dept. of Financial Institutions cannot charge interest in excess of 18%. I'm pretty sure that GFSIL and ASAP Processing are not licensed, but I'm not sure about Whistler/Xpresscash. I think I might try faxing letters stating that basically I've already paid way too much and that I am owed a refund, to see where that gets me. What do you think?

It sounds like you have the right idea of what you should be doing to get out of these loans. Figure out how much you've paid and make sure you put that in your letters including the licensing information and maximum interest allowed. I don't know anything about the companies you are working with but I think that GNR gave you some great advice.

if you want to make sure that they have received your cashiers and proposal you can send it through the post office either return receipt or certified, there are other options also but these let you know that it was delivered and if certified they must sign for delivery if you so choose. That way you know they got it and then you can track the cashier's check through the bank to see status of being cashed or non-cashed.

I cant log in here from work but you can trace money orders through the bank and you can also trace Cashier checks to know if they have been cashed, I did this once when I sent a bill that way and they didnt get the money I had the money order reissued and a stop payment on the original one
I am also with GFI and awaiting to see if they cash payments sent from T & C we shall see They argued with me on the phone about the usuary charges etc and they will tell you anything but the truth about what laws apply to them, The are telling me that I owe 500 on a 200 loan when I notified them twice by mail prior to the default So they are not fun to deal with but Stand Strong and stick to your guns you know wht you can afford to pay them better than they do

Good luck Let everyone know here if you need addresses just type it in the search box they are listed here for you

Let me know how that turns out, also what address did you use? My first try will be a letter stating that I have actually more than paid the amount allowed by Wisconsin law and I want them to mark the loan paid in full. I found that letter that talks about notifying my attorney general, but does anyone ever do that? And if so, does anything ever happen, in particularly, to the specific case (for instance, does the Atty. General contact the PDL and the PDL backs off?) Man oh man, I so want this to get taken care of but why am I getting the feeling this will take months and months, if not forever. From all this I'm reading, I'm getting good ideas but I'm also getting discouraged. How do most of these PDL situations end? I can't file bankruptcy because I already have (last year!). Please someone, encourage me, tell me that sometimes they work out OK???

AAAHHHH!!! HELP!!!??!? I just called GFSIL to try and get my loan taken care of. I told them that I needed to send a Cashier's Check because my account is being closed. They offered to settle my $200 principal with four $50 payments over the next four paychecks. I promptly agreed and then they tried telling me I agreed to a $450 payment on the 1st of September. I told them that is not what I agreed to and that they should be lucky I am settling for $200 because since they are not licensed in my state they should actually owe ME money. So, the guy asked me if I could do one $200 payment on 9/1 via Cashier's Check to settle the account. I told them as long as I received an email stating that my account would be PAID IN FULL, I would send a Cashier's Check postmarked by 9/1 for $200. They asked me to fax a copy of the Cashier's Check to show that it is coming. I felt pretty decent to get these people off my back, but unfortunately, not five minutes later my phone rang with a "pre-approval for a $1500 cash advance" recording. I thought I had made progress but now I'm worried about what I may have done!?

eamuscatuli

Don't approve for the new loan. Call GFSIL and know what this offer is all about? You never asked for this thing. :evil:

I'm guessing it was some sort of advertising, I don't even think it was GFS; however, I wouldn't be surprised if they had something to do with it. Don't worry, as soon as I heard "pre-approved for..." I reached for the End button and hung up.

So, I got home from work and I had received a confirmation email from GFSIL, here is what it says:

Quote: