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Everest Cash Advance still at it...

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Everest was sent a desist and refrain order and an order to disgorge by the state of California back in 2011. They were and still are unlicensed to provide loans to anyone in the state of California. I had a loan out with them and had been paying and rolling over, which I initially had no problem with (not knowing at the time that they were illegal), but then I started receiving emails from them asking for debit card information - this made me suspicious. After checking with the California Department of Business Oversite I learned that they and many other unlicensed Payday Lenders have been blocked from accessing California bank accounts. Since I'd basically already given them back more than I borrowed, I emailed and told them that they could not have my debit card info, and I emailed them copies of the notice given to the banks and a copy of the desist and refrain order, and that we were simply done. This was a couple months ago, but as of last Friday, the collection calls have begun. I've told the collection agency all the above information, as well as the fact that since Everest already knew that they are not supposed to lend to Californians, and my address is CLEARLY in California, that they should have rejected the loan request and their knowledge of all of the above makes the entire contract void. Of course, the collection agency won't listen, and they say they're called something else now. I'm pretty sure they'll call again tomorrow morning and I will get the name (they mentioned it in passing but I'm at work and it got busy and I didn't write it down). I'll get their name when they call again tomorrow.
I'm curious how to find out if the desist and refrain is still in effect - I want to get an email address for the collection person who calls so I can email copies of everything I've got. They still insist that I agreed to be bound by the laws of Nevis (where they're based out of) and I still insist that the contract is void because they ignored the desist and refrain. Uggghhh!!




I should mention that it's actually everestcashadvance1.com - they have the exact same address and info as Everest Cash Advance in Nevis, but now I've notice on their splash page they have a list of states they can't loan to and California's not on it. Yet I can find no license listing for them on the California Department fo Business Oversite's website. Anyone know anything about them? Since switching over to wanting debit card info instead of access to bank accounts, the whole website seems to have changed.

Sub: #1 posted on Tue, 03/18/2014 - 09:08

cormanrocks cormanrocks

(Posts: 12 | Credits: 1.4)

The loan is void merely because they were/are an offshore lender.. Not legal to lend in any state, basically due to not being licensed to lend. I would send a Cease and Desist letter to the collection agency and be done with it. Keep copies of all you have.. Send the C&D letter via CMRRR and fax - but most important to do CMRRR.

This information is from the website it's self to clarify they are in Nevis, West Indies: This was listed on their own terms and conditions page:
EverestCashAdvance1.com
c/o SCS Processing
PO Box 636
Charlestown, Nevis
West Indies
CustomerService@ev erestcashadvance1.com

Sub: #2 posted on Tue, 03/18/2014 - 16:10

HelpinAZ HelpinAZ
Moderators
(Posts: 1873 | Credits: 288.09)

Are payday loan contracts with all offshore lenders void in California (or in the US in general) simply because they're offshore? I'm curious if there's a link to a website to verify that. I want to be very sure of the facts when their collections department calls me this morning and I tell them that.

Sub: #3 posted on Tue, 03/18/2014 - 19:30

cormanrocks cormanrocks

(Posts: 12 | Credits: 1.4)

each states pdl laws are different in regards to int rates and maximum amount.but all require a lender to be licensed.some states don't allow,or prohibit pdl lending at all.so there you have it.every state requires a lender even internet to have a license in there state.offshore,and tribal lenders will not have a license.

Sub: #4 posted on Tue, 03/18/2014 - 19:42

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

I was also reading that in California payday loans are not allowed to "roll over." That's probably another sure sign that this one was not legal, as it continued to "roll-over" after I told them I'd finished with them.

Sub: #5 posted on Tue, 03/18/2014 - 20:55

cormanrocks cormanrocks

(Posts: 12 | Credits: 1.4)

alot of states have the no rollovers in their laws.like my state of IL.any lender that rolls over,or ignores that rule is most likely not licensed,and therefore illegal.nice catch on the rollovers btw.

Sub: #6 posted on Tue, 03/18/2014 - 21:30

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

So I just got the call from the collection agency - called "Total Account Recovery." The gentleman I spoke with was a bit more reasonable than the other people I've spoken with - I told him that while it's true I signed the contract, Everest had been issued a desist and refrain and that the loan should never been issued. So it's the basic back-and-forth...
Them - "you signed a contract and agreed to be bound by the laws of Nevis"
Me - "the contract is void because it was entered into even though Everest knew they weren't supposed to loan to California..."
Them - "But you have a contract"
Me - "It's Void"
Them - "No, it's not"
Me - "Yes it is"
and so on and so on. Anyone ever dealt with them? I got a fax number so I can fax them all the docs I have, but they ultimately don't look like they're gonna let it go.

Sub: #7 posted on Wed, 03/19/2014 - 00:47

cormanrocks cormanrocks

(Posts: 12 | Credits: 1.4)

total recovery is a complete bottomfeeder.do not talk to them further.btw it is up to them to prove you owe.that includes the inflated amount they want.so don't even try to reason with them.i will try to come up with actual address to send as c&d letter.again not up to you to prove anything.send them the c&d and don't engage them further as their claim about the laws of nevis is retarded at best.

Sub: #8 posted on Wed, 03/19/2014 - 01:09

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

Thanks for that. I'll work on composing a C&D letter (can you recommend a good "template" I can work with?) - they gave me a fax number so I could fax it along with those other documents I've got (unless you think it's advisable not to fax them - I know they'd get my work fax number from it as it gets printed at the top of any fax we send). Will they honor a C&D, or is this more for legal reasons so that I can say I sent them one and they ignored it?

Sub: #9 posted on Wed, 03/19/2014 - 19:46

cormanrocks cormanrocks

(Posts: 12 | Credits: 1.4)

a c&d is basically like this one i sent.


dear deluded idiots:i am not paying you or anybody else on this matter.therefore i demand you cease any and all communication to me and everyone else.failure to comply will result in a lawsuit by me.i turst my position is clear.

you can make the letter in any way you want to convey the c&d message.btw as long as you have a way to find them,and they are in this country then if they don't honor it you sue them a good one.period.now if you can fax it from somwehere else i would do that,or let me continue to find an address,but try not to give them your work info.

Sub: #10 posted on Wed, 03/19/2014 - 20:08

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

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