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HELP!!! NATIONWIDECASH PAYDAY LOAN

Date: Fri, 03/22/2013 - 07:43
Submitted by NCNurse on Fri, 03/22/2013 - 07:43
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I am so thankful to have found this forum, and it has given me a lot of strength to get through what could possibly the worst time of my life. We have had some family emergencies which wiped out our "cushion" fund, and in haste I applied for payday loans. Now I have 8 current loans and I live in NC, so I know that those loans are illegal.

I have already started the process of contesting all the loans by closing my account and sending revocation letters. NatonwideCash is the first to respond and I am trying to figure out how to respond back.

The ACH revocation letter was from a template that I saw on this site. And this is what they wrote back:

"Dear XXXX,



Thank you for contacting Nationwide Cash.

We have received the documents you sent expressing your concern about our company’s legality in your state. Therefore we would like to share some information with you in regards to that.


This is a St. Vincent company. St. Vincent and the United States are both parties to the General Agreement on the Trade in Services, a treaty which specifically permits companies in one country to make consumer loans to citizens of the other. Under the treaty, we are only obligated to follow the federal laws of the United States. We are not required to obtain state licenses and individual state laws do not apply since the federal laws adopting this treaty supersede any state laws on the subject.


We hope your doubts have been clarified and that you would be willing to continue doing business with our company. Please keep in mind that we don't check your credit history with the Credit Bureaus, nor do we report to them. Also, that all we care about when approving a loan for you is your previous payment history with us. We assume that if you started and continued borrowing from our company, it was because you have considered that we offer the convenience of our fast; no hassle approval process, even though our finance charges are higher than the ones from a credit card or a personal loan from a bank or a credit union.


Please let us know your thoughts and let us know if you would like to provide us with another bank account # so we can continue processing the payments, thereby keeping your perfect record with us.


Best Regards,



Kenneth Arroyo | Account Executive
Nationwide Cash Customer Service Support
866-808-0936 Toll Free
866-808-7187 Fax"

I don't quite know how to respond so any advice would be appreciated. I need to respond to them by Monday I think.


I have 4 online pdl's. nationwide cash, cash transfer centers, plain green and American web loan. Are they all prohibited in Az? I intend on paying principal but if illegal can I avoid finance fees?


Submitted by on Tue, 04/09/2013 - 08:47

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Dear lender...

Please do not continue to hand me your crap. You know as well as I do that you are prohibited from lending in my state of North Carolina and yet you continue to do so. So your loss. Your loan is null and void in my state and is unenforceable in any state. I will pay back the principal on MY terms, which will be by postal money order and the mail service at MY convenience. Take it or leave it. Also I will communicate only via email.

Govern yourself accordingly


Submitted by SOAPLADY on Fri, 03/22/2013 - 20:02

SOAPLADY

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thanks for your help. My account is frozen, the bank assured me, and I have sent a letter to plain green, so far. Just waiting to hear back and then I intend to send the others tomorrow. I also had 2 thirty dollar unauthorized checks drawn on my account from loanfast? I called the number and every time it went to vm. I reported as fraud and the bank froze my account. He said he deals with this particular one 20 times a day. I do not have a loan with them, supposedly it's just a loan app fee.


Submitted by on Tue, 04/09/2013 - 18:46

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