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Cashnetusa turned me over to collections

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I paid off Cashcentral, and was about to work out a payment plan with Cashnetusa but they turned me over to collections in August. So I had been sending in small payments, but I don't think Cashnetusa received my last payment for about $20 because my balance on the collection letter from Paragon Way, Inc (Collins Financial Services, Inc.) isn't reflecting that. I sent Paragon Way a DV letter via certified mail and haven't received anything back yet.

Also, I called Cashnetusa directly and asked if them I could make larger payments directly to them since I can afford to now, but they said I have do deal with the collection agency. So should I send another DV letter to Paragon Way?

Their payment terms are reasonable: I could pay it in full for a slightly lower balance or I could pay it in three monthly payments. I think I will just pay them through pre-paid debit card, so they don't have access to my bank account info and I save some trips to the post office by not always having to send a money order.




How long was it from the time you defaulted with Cashnet to the time they sent you to collections?

How long ago did you send Paragon the DV letter?

Sub: #1 posted on Mon, 10/01/2007 - 08:01

volleyballmom volleyballmom

(Posts: 4143 | Credits: 284.52)

I defaulted with Cashnet back in January, so it would have been about 7 months before they turned me over to collections. It does seem a long time, but I was juggling so many other pdls at that time too, so it was hard getting them all resolved quickly.

I sent Paragon the DV letter in August a few days after receiving the collection notice, and if I remember correctly, they received it on August 24. I haven't received any phone calls or any other correspondence from them yet.

Sub: #2 posted on Mon, 10/01/2007 - 08:05

joshua1987tree joshua1987tree

(Posts: 453 | Credits: 92.32)

If you dont mind spending a couple more bucks, I would send them another one OR if you have a fax machine, fax it over.

THere is a great DV Follow-up letter in the Do It Yourself section (link at the top of the page right underneath Ranking Chart).

Sub: #3 posted on Mon, 10/01/2007 - 08:15

volleyballmom volleyballmom

(Posts: 4143 | Credits: 284.52)

mmmmmmm, 7 months that seems like a real long time, did they call and bug you? What did they do in that 7 months?

Sub: #4 posted on Mon, 10/01/2007 - 08:21

fedupinpa fedupinpa

(Posts: 1511 | Credits: 224.75)

They called a lot in the first couple of months and emailed, but it tapered off and finally they stopped for a couple of months when I mailed payments in. They were never rude over the phone, so they weren't so bad of a deal.

I just feel more bad now about the fact that I can't pay them directly anymore, and have to deal with Paragon because they probably just bought the debt from Cashnetusa for pennies on the dollar.

Sub: #5 posted on Mon, 10/01/2007 - 08:26

joshua1987tree joshua1987tree

(Posts: 453 | Credits: 92.32)

Yes, I think that is a good idea to send another DV letter follow-up in the mail. I can fax a copy from my work as well.

Sub: #6 posted on Mon, 10/01/2007 - 08:27

joshua1987tree joshua1987tree

(Posts: 453 | Credits: 92.32)

Good plan!!

BTW-I still need to pay them..thats why I was curious about how long it took before collections :wink:

Sub: #7 posted on Mon, 10/01/2007 - 08:30

volleyballmom volleyballmom

(Posts: 4143 | Credits: 284.52)

Did Paragon end up charging you more money than cashnetusa or are they being pretty reasonable?

Sub: #8 posted on Mon, 10/01/2007 - 08:53

eleroo eleroo

(Posts: 1220 | Credits: 153.92)

They are being very reasonable. They are just asking for the same remaining balance that I had with Cashnetusa.

Sub: #9 posted on Mon, 10/01/2007 - 08:57

joshua1987tree joshua1987tree

(Posts: 453 | Credits: 92.32)

That's great. :-) At least they are being good about it and not harrassing you. My friend has defaulted with a checkngo installment loan and I think it is about to go into collections. Hopefully she will get a decent ca who will work out arrangements with her. Good luck with yours. It sounds like you have gotten things almost worked out. :-)

Sub: #10 posted on Mon, 10/01/2007 - 09:00

eleroo eleroo

(Posts: 1220 | Credits: 153.92)

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