How should I respond. They are illegal in SC, I had used them several times, and paid way more than my last loan on previous loans..
We are in receipt of your email dated June 10, 2013. Please be advised that we have ceased all collection activities and all communication by telephone while this account is under review.
If you take a moment to review the attached loan agreement, you will see that Northway Financial Corporation Ltd. is a Financial Institution licensed and regulated in accordance with the European Union (EU) Directives. As such, the laws of the Republic of Malta (member State of the European Union), not the state of South Carolina applies to its terms. We provided you with this notice so that you would understand the terms of your loan.
We are prepared to offer a repayment arrangement in the amount of five (5) equal payments of $191.00 as payment in full of your outstanding loan. This represents the $955.00 principle amount on your outstanding loan. Once payment has been received, we will consider this account paid in full with no further obligation.
The five (5) equal payments of $191.00 can be made via MoneyGram, and should be received by December 31, 2013. We have included the payment information below for your reference.