However it is not true that you can make an offer and if the ofer is refused the debt is cancelled. Am I still obligated to pay them back all of their money including their Is anyone familiar with this company? Food, Drugs, Healthcare, Life Sciences. Cancelation of passport I lived in the USA for 20 years, never became a citizen, Apparently, it is payday lending laws. Without a storefront option, Ms.
We would like to point out we are incorporated in, and operate over the Internet, with our offices based out of San Jose, Costa Rica. By engaging in a transaction with us, you have availed yourself to be subject to the internal laws of Costa Rica for this particular check advance agreement. There statement that because they are in Costa Rica our laws do not apply is untrue. If they sued you then they would have to do so in your state and then they are subjecting themselves to the laws therein. They will not, of course, because of the payday loan laws. So do what I . Sep 02, · Other online lenders operate as far away as Costa Rica, the West Indies and Malta, making it hard for state regulators to track down these operators and enforce state and federal law.
Under your debt contract, you were required to pay a certain amount at a certain period in time. If you did not pay as required, they have the ability to take certain steps to enforce their debt. As it was a payday loan, it is likely that you gave them authorization to debit your account, and they did so in accordance with your authorization. Payday loans are notorious for having interest rates which are contrary to section of the Criminal Code of Canada. This means any loan with an annual interest rate of over There are many court cases in Canada in which a person gets sued for failure to pay a payday loan.
The payday loan company tries to collect large amounts of interest along with the original loan from the individual. In those cases, the judge will require the person being sued to repay the payday loan amount borrowed; however, the judge will not require the illegal interest amounts to be paid. I would suggest making an offer to pay the principal amount borrowed.
I said I want my loan and she assured me it would go through this time and don't put a middle name or initial just my first and last name. Only this time she wanted dollars plus the fees. I said I only have and she said that it would be okay plus the 40 dollar fee. Then Jessica called after 5 minutes and said it was successful and the loan manager Craig would call in 5 minutes with the details.
He did and this is really where the straw broke the donkeys back. He verified my info and said that now we needed it to be made legal since I lived in Ohio.
There was the matter of taxes on the loan. He said for my inconvenience, it would be dollars now and they would pay their share of the taxes of dollars and I would need to pay dollars to have my funds released from the bank. I responded with, you took all my money. I don't have If I did, I wouldn't need a loan and I want my loan and my insurance fees back now.
Craig said I would then go to jail for not paying the non existent taxes and he would report me to the IRS. I then hung up and went home. I then called Jessica back and said what happened with the loan and what is this crap about the taxes and said she knew about it but I said didn't know and I want either my loan or my money back.
She then parroted the crap about after I paid the I would get my loan. She said she couldn't do anything, so I said I want my money back and she said it will take 24 days but I doubt I will ever see the money. And I would still be responsible for paying the loan and it would appear on my credit report and would not be able to receive any loans for 5 years or more because it will be on my credit report.
I am very aware of scams so I ask questions and do not do things that do not seem right. I asked how much and the agent could not tell me, transferred to supervisor. I need to go to the store and buy a Green Dot money card. First I never heard of making any payment on a loan before you get it.
Secondly he wanted the number on the back of the card, right there goes that money. Well the final straw was he said the federal government is listening to this call. Right we have agents that do that. Good luck, I just moved all my funds out of the account to protect them. I applied for a loan. I applied for a loan on the internet and I started getting calls from a company who told me I was pre-approved for a loan. All I had to do was send them Once I sent the money they claimed they never got it and now I am out of my money.
Do not do business with them. This company is committing fraud. I had a taken a payday loan with Mypaydayloan. They put my account in the negative, I had multiple payments coming out for my other bills. When I spoke to them, they were nice at first until they realize how much they were responsible for. They told me that they would reimburse me of these charges and then turn around and tell me that they will not reimburse me because I would have gone negative in my account anyways which is complete BS.
If they would have just taken the correct payment my account would have been fine. They have no customer service especially when they are in the wrong. I took out a loan with this company, got in over my head. I got a company called MyPayDay relief to settle the debt. I paid the settlement to Smith, Haynes and Watson.
They sent me a paid in full letter; however, 2 other agencies have tried to collect on this debt. Do not do business with these slime bags! Dealing with this company has been a total nightmare. I took a payday loan with this company and ended up way in over my head.
I found a consolidation company, Payday Freedom, that is trying to work with Mypaydayloan for payment arrangements to fit my budget. I found that this company is illegal in my state and that Internet loans are illegal and unenforceable in my state. They have sent several threatening e-mails stating that I am bound by their internal laws of Costa Rica.
They have also stated that they will do everything possible to get the money back. They are stating that I owe over 1, for a loan, and then they tried to debit my account four times on totaling and over in fees to my account. Extremely high interest rates I'm paying, yet I know there are newer laws on other countries or external state companies to PA residents. Want to make sure this company is not doing something illegal. Usually cannot pay it all back in 1 paycheck so have to span 2 checks and there is additional fee.
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Thanks Keep an eye on your inbox, the lastest consumer news is on it's way! I would expect courts to ignore any attempts by a company to invoke one of these clauses. Are there serious arguments that these statements about jurisdiction are enforceable? November 20, at Frank Burt et al. Jim Hawkins November 20, at I think the point of these clauses is to shield the lender from a claim that it offered to make an illegal loan.
I don't think the lender would expect that this "contract" would protect it from state banking laws if it actually extended the loan. Admittedly, the clause might have some effect in an enforcement suit between the lender and borrower, if the borrower presented an illlegality defense.
However, for a number of reasons, those lawsuits just don't get filed in the payday context. The real problem is that states cannot effectively discover and prosecute the Internet payday lenders that make illegal loans. This issue might get more attention if military personnel turn to internet payday lenders as a response to the Talent Amendment.
Congress will then have to consider whether to target the payment or advertising intermediaries that facilitate these transactions, a decision that is being made right now in the gambling context as regulations are drafted under the Unlawful Internet Gambling Enforcement Act of Ronald Mann November 21, at Thats the benirfit of using internet.