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I have a small problem. I live in NC where payday loans are illegal. I got an settlement offer from Arrowhead before I got an response from the NC Attorney General office. Once I got the letter, I faxed a letter to the company telling them that payday lending is illegal in my state and I am only going to pay the orginial amount borrowed. I got an e-mail from Dennis telling me that I waved the right to follow my state laws. What should I do?




That doesn't even sound right to me, others will be along shortly to advise you further. I didn't think there was a such a clause in their contract but I could be wrong.

It will be interesting when they hear from your state's ag's office, I bet you they will be signing a different tune then. Someone with more experience will be along shortly to advise you further.

Sub: #1 posted on Tue, 07/15/2008 - 04:18

ladybug ladybug

(Posts: 2757 | Credits: 282.45)

Thanks for the response. I am looking forward to learning more. I e-mailed the company another letter telling them that I am only going to pay the orginial amount borrowed.

Sub: #2 posted on Tue, 07/15/2008 - 05:21

wssu92 wssu92

(Posts: 510 | Credits: 31.64)

i think arrowhead is part of westbury ventures AKA GENEVA ROTH,of course they are going to try and say your state laws
don't apply.only an illegal unlicensed pdl would say that.
re-send your e-mail stating this fact,that they are bound by
your state law.don't let them tell you different.

Sub: #3 posted on Tue, 07/15/2008 - 17:44

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

I just want to give everyone an update: After sending three e-mails, Arrowhead got the message and is going to let me pay the orginial amount borrowed.

Sub: #4 posted on Fri, 07/18/2008 - 06:36

wssu92 wssu92

(Posts: 510 | Credits: 31.64)

Congratulations I figured that would happen...good for you. Make sure you get a paid in full letter from them in case they try to get sneaky and come after you in the future.

Sub: #5 posted on Fri, 07/18/2008 - 08:31

ladybug ladybug

(Posts: 2757 | Credits: 282.45)

Good job! Persistence pays off!

Sub: #6 posted on Fri, 07/18/2008 - 08:34

alias1958 alias1958

(Posts: 1230 | Credits: 79.88)

I just got a message from Arrowhead telling me they are sending me to collections. I guess I should send all the same info to the collection agency that they claim to have sent me to?

Sub: #7 posted on Fri, 07/18/2008 - 22:00

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I would send them a e-mail telling them that you are going to pay only the orginial amount that you borrowed. No more and no less.

Sub: #8 posted on Tue, 07/22/2008 - 05:24

wssu92 wssu92

(Posts: 510 | Credits: 31.64)

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