Boulevard Cash / Fireside Cash - response to ACH revocation
After reading through the helpful threads in this forum, I realized Boulevard Cash is an illegal offshore lender (based in Belize). I originally borrowed $500 from them, and have made 3 $150 "interest/renewal" payments, resulting in a $50 balance. I emailed them yesterday afternoon as directed using one of the ACH revocation letters I found here, and also notified them I would pay the remaining $50 balance although I was not required to do so and would do it via prepaid debit card or money order.
Here is the response I received today, in case anyone has an account with them too and would like to know how they work:
Thank you for your email. We appreciate the opportunity to clarify Fireside Cash's business practices.
Fireside Cash is located in Belize. As we state clearly in the loan agreements you signed and the terms and conditions to which you voluntarily agreed to, the law of Belize applies to your loan. Courts in the State of Nevada recognize and enforce choice of law provisions such as the one that is included in your loan agreement with us. Thus, your statement concerning "permissibility" of this loan in your state is simply incorrect.
Additionally, it was you who proactively searched for an Internet loan and willingly accepted the funds we deposited into your account.
We have multiple recourses to retrieve our funds, including collections and legal remedies, which we are prepared to enforce. In the spirit of good faith we prefer not to pursue these options, as they are costly to both parties.
As a courtesy, and with no obligation to do so, we will accept a settlement for the original principal loan we made to you in the amount of $500.00 In doing so, we will also waive any accrued finance fees and charges. (bolded emphasis theirs)
Be advised, upon your acceptance of this settlement you will not be able to access our services in the future.