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Rights to borrowing from pdl located out of USA?? Help!

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So I've been researching a company called a2bcash.com. I borrowed $200 from them and their finance charge is $48 which is taken out of my account weekly. I recently discovered they are not licensed in my state of IL and emailed them to say that once the $200+finance fee has been paid through the weekly deductions, I will be revoking any and all ACH rights to them.

They emailed me back with the following:

The Loan Agreement, to which we have adhered to by funding the loan, detailed that your loan was subject to the Arbitration Laws of Malta, a fact by which you confirmed your understanding and acceptance of via the online signature you made. Please note, we are not a US company, have never prescribed to be a US company and have no US presence, as such are not subject to the US laws you detail. Please refer to your copy of the Loan Agreement. Under the terms of the Agreement you consented to make payments via ACH until the loan was satisfied in full. Your loan account is currently in default due to returned payments. We will continue to make collection of all funds due and payable to enable the loan agreement to be satisfied, as per the original provisions. Regards, Customer Services

HUH??? I have not defaulted on the loan. The 3 payments I've made have all cleared in my checking account. For that, they are wrong. As for the Arbitration Laws of Malta, what in the world does that mean for a U.S. citizen?

God, I am SOOOOO stupid for not having done the research before borrowing from them. Stupid, stupid, stupid. What do I do now?

I borrowed $200. To date, I've made 3 finance charge payments of $48 (on 7/2, 7/9, & 7/16). I have no clue why they think I've defaulted. And this was their response to my request for them to call me to discuss my account as I wanted to discuss my legal rights (as I've learned about on this forum). No one calls, they have NO contact information on their website, and every time I go to their website to view my account info, I always have to re-set my password. I've reset it with the same one each time so I know I haven't forgotten it.

Any advice??




Time is of the essence here, so I am going to assume that the fact that you say they are illegal in your state does apply. You are certainly close to that paid in full status that you speak of but I would strongly suggest that you get your bank account closed ASAP. Since you have already informed them that you will be revoking your ACH, there is a real good possibility that they will get into that account and take whatever they can. We always advise securing your funds prior to letting the PDL you are going to revoke authorization. You also need to get something in writing to them informing of several things. There is a C and D letter on this board that you can use. Hang tight. Someone will come along shortly to help you with the particulars.

Sub: #1 posted on Sun, 07/20/2008 - 18:34

llw1995 llw1995

(Posts: 1422 | Credits: 149.03)

Please get your account closed before they have a chance to steal all your money, and read this thread at the link I am posting prior to closing your account. http://www.debtconsolidationcare.com/paydayloan/close-acc ount.html No matter what they say, you are bound by your own state laws. You owe them $200.00 period! So, whatever service/finance fees they have already taken should be deducted from the amount you originally owed. Do NOT tell them you are closing your account until after it's done! Revoking ACH transactions by this company will not stop them, they will only change their name and continue to deduct money from your account. :shock: You can repay them what you owe by sending payments in the form of money orders, of course they will need to supply you with a physical address to send payments, otherwise they are SOL. :?

I'm posting the Payday loan laws for Illinois here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-p dls-laws.html

Sub: #2 posted on Sun, 07/20/2008 - 19:29

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.85)

Well, there are a few issues here. One is they have 0 contact information anywhere. I've now posted 3 requests to their Customer Service inquiry page asking for them to contact me. All they do is respond with some sort of cryptic message concerning my account. So I have no idea where to send a C&D letter.

Second- I never received a Loan Agreement from them. I applied for an internet pdl on one of those websites that hands out your information to several lenders. Then this place called me. The person on the phone directed me to their website, had me fill out some information, and then POOF! The money was in my account the next day. I don't recall having seen a Loan Agreement. I have emailed them AGAIN asking that they send me the signed agreement ASAP.

I will close my account this week. I have a 2nd checking account which has been unused. So I have a back-up already. But the bank will not close the account until all pending items have posted. That could take another 3-5 days. So right now, I'm in a bit of a holding period...

Lovely.

Sub: #3 posted on Sun, 07/20/2008 - 19:47

Unregistered


hello S.L. i being from illinois myself can tell you this is an illegal
pdl.just about 90% or more of internet pdl's are illegal.they have to be licensed in our state to be legal.do as llw and shazz
advise,get your bank account straight then contact them.
you can respond to there e-mails or however you choose.you
owe them 56.00 nothing more.don't let them tell you otherwise.

Sub: #4 posted on Sun, 07/20/2008 - 19:54

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15506 | Credits: 1356.56)

Here is an address you can try using.

PrivacyProtect.org
Domain Admin (contact@privacyprotect.org)
P.O. Box 97
Note - All Postal Mails Rejected, visit Privacyprotect.org
Moergestel
null,5066 ZH
NL
Tel. +45.36946676

It is out of the Netherlands. I went through something similiar with Star Advance when I finally got to the Admin contact. It states that no postal mail will be accepted. Send ALL your documentation to the contact at privacy protect dot org. or go directly to the privacyprotect dot org. and follow those instrtuctions. Then wait to see if you get a response. This Malta stuff is a bunch of bunk. That is what Star Advance gave me and after much searching I tracked down the Administrator, in Costa Rica, and she sent me an apology letter and forgave my remaining $293 on my loan. These people are all over the place. I think what happens is the mail is forwarded and filtered through another organization. I had to get some special "key" to get through to Star's Administrator, something like a damn cloak and dagger secret society club but in the end she was really nice to me. I thanked her, took my PIF and ran like hell. Never looked back. You just have to find the right button to push. If you ask me all this nonsense is just another way of "hiding" out. Can't make any promises but if they want to play hide and seek, perhaps you are up to the game? Good luck. Keep us posted.

Sub: #5 posted on Sun, 07/20/2008 - 20:41

Unregistered


Sorry SL, that was my post above. God, will I ever learn to check my login status before I post?

Sub: #6 posted on Sun, 07/20/2008 - 20:45

llw1995 llw1995

(Posts: 1422 | Credits: 149.03)

If you aren't able to close out this account right away, then go to the bank and have a hard debit block placed on it. I really hate to see your money getting stolen, and that is exactly what this company will do. :shock:

Sub: #7 posted on Sun, 07/20/2008 - 21:25

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.85)

So, I logged into my account on a2bcash.com today to check for responses to my Customer Service inquiry. Since they don't provide any contact information, we've been doing this through a Help Centre (yes, the spelled it wrong... as well, the spelled inquiry as 'enquiry').

I sent two items to them- one saying that I was NOT in default as all my payments had cleared and the other demanding a copy of this so-called contract I signed. Here are the two responses:

009 117994 GENERAL 07/20/2008 07/20/2008 CLOSED
Unfortunately, we do not have the facility to provide a copy after the fact, which is why we clearly prompt all customers to either print a copy, or take a screen print, at the time of application. However all information about your loan, as well as a list of FAQs can be found on the website. And if you ever need more information, or cannot find an answer you need, feel free to contact us via the Help Centre as you have used here. Regards, Customer Services
118014 117992 GENERAL 07/20/2008 07/20/2008 CLOSED
You are correct regarding your payments to date, there are no returned payments to date, but the current payment is still pending, so until received, the payment shows as past due, this caused the misunderstanding - our apologies. However, you are incorrect regarding US law, as a non US company with no presence in the US whatsoever, we do not fall, nor do the loans we provide fall, under the remit of any US law. Regards, Customer Services

There is nothing on this website that includes details of the Loan Agreement. The only thing they include is something called 'My Loan' which includes current activity listed as this:

You can see below everything you need to know about your loans and payments, it will show you your payment history for the last 30 days as well as your next payment details.
Loan # Status Original Principal Current Principal Current Interest
20186130 ACTIVE $200.00 $200.00 $48.00

Last 30 days payment history
Loan # Transaction Type Transaction Amount Date
#### CHARGE -$48 2008-06-25 23:33:57
#### CHARGE -$48 2008-06-26 10:20:15
#### PAYMENT $48 2008-07-01 01:15:08
#### CHARGE -$48 2008-07-03 11:42:51
#### PAYMENT $48 2008-07-08 14:36:41
#### CHARGE -$48 2008-07-09 23:23:11
#### PAYMENT $48 2008-07-15 11:49:56
#### CHARGE -$48 2008-07-16 09:46:25

Next Payment
Loan # Payment Amount Occuring On
#### $48 2008-07-23

That is it... nothing concerning the loan details.

I'm going to my bank today... not sure what else I can do as I have no way to send these people letters. This is terribly frustrating.

Sub: #8 posted on Mon, 07/21/2008 - 20:54

Unregistered


Did you try sending your communicaitons to that Privacy Protect dot org address? It is the listed Administrator Contact.

Sub: #9 posted on Mon, 07/21/2008 - 21:06

llw1995 llw1995

(Posts: 1422 | Credits: 149.03)

Not yet.

What should I include in my email to them?

Sub: #10 posted on Mon, 07/21/2008 - 21:12

Unregistered


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