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Finally done with all the calls....
Magnum Cash advance will stop payment this week, but I will incur "daily" charges.
United Cash Loans will still attempt to debit, but will send to collections when it doesn't go through. But get this, they will not report to credit agencies and they will still offer me a loan! I said forget about that. They said they won't hold the collections against me! LMFAO!
USFast Cash absolutely won't work with me...and will still attempt to debit my account then send to collections right away.

I'm alittle less sick today but still worried!




sweety

None of these folks are licensed in Florida.

Why are you sweating it?

Sub: #1 posted on Wed, 04/05/2006 - 00:15

polly polly

(Posts: 1709 | Credits: 253.21)

Oh god...I just don't want any nasty phone calls to start!
btw..
Paychecktoday just called and will work with splitting payments...

At least I can fend them off for now until I get with T&C on thursday..

Sub: #2 posted on Wed, 04/05/2006 - 00:21

erzeke1 erzeke1

(Posts: 1145 | Credits: 183.13)

Pollyandsay, can you elaborate on your comment? If they aren't licensed then what? (You've probably answered this before but I've been AWOL lately). Thanks!

Sub: #3 posted on Wed, 04/05/2006 - 00:24

CycloneFan CycloneFan

(Posts: 1156 | Credits: 194.95)

erzeke1,
Those calls are harrassing at best. Don't sweat the small stuff and keep working on track. Eventually all this will go away. Having contacted T&C should help you see the light at the end of the tunnel.
Good luck :D

Sub: #4 posted on Wed, 04/05/2006 - 00:36

kalevala316 kalevala316

(Posts: 139 | Credits: 23.7)

Florida has usury/loansharking laws in Chapter 687...

Quote:
(3) Unless otherwise specifically allowed by law, any person making an extension of credit to any person, who shall willfully and knowingly charge, take or receive interest thereon at a rate exceeding 45 percent per annum or the equivalent rate for a longer or shorter period of time, whether directly or indirectly or conspire so to do, shall be guilty of a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084.
775.082 (d) For a felony of the third degree, by a term of imprisonment not exceeding 5 years.
775.083 (c) $5,000, when the conviction is of a felony of the third degree.


Florida's deferred presentment laws are defined in Chapter 560...

Quote:
(6) "Deferred presentment transaction" means providing currency or a payment instrument in exchange for a person's check and agreeing to hold that person's check for a period of time prior to presentment, deposit, or redemption.
h ttp://www.leg.state.fl.us/Statutes/index.cfm?Mode=View%20Statutes&Su bmenu=1&Tab=statutes&CFID=1081068&CFTOKEN=30634634

Now you took those loans on the internet right? No check involved, right?

Write them the strongest letter known to man, demand your accounts be marked paid in full, demand refunds on all interest paid over the principal that exceed 30%, and let them know that if they do not do as they are instructed that you will report them to your local authorites and you AG (you should still do that anyway).

Sub: #5 posted on Wed, 04/05/2006 - 00:51

polly polly

(Posts: 1709 | Credits: 253.21)

HOLY SH&*!!!!
Yup..all but one is online.

Sub: #6 posted on Wed, 04/05/2006 - 00:53

erzeke1 erzeke1

(Posts: 1145 | Credits: 183.13)

Just got this information from florida legislature. I'll get some more research done today..(sorry it's so long)


Quote:
The focus of our office is publishing the Florida Statutes. We cannot
give opinions as to how the statutes apply to specific facts or give
legal advice.

In Florida Statutes, payday loans are referred to as 'deferred
presentment'. Below is a list of statute sections that pertain to this
subject. See especially the sub-heading 'Deferred presentment' in this
list:

CHECK CASHERS AND CHECK CASHING BUSINESSES
Agent for service of process, 560.306
Authorized vendors, 560.306, 560.307, 560.308, 560.310
Check Cashing and Foreign Currency Exchange Act, 560.301
Deferred presentments
credit counseling, 560.404
Database information, confidentiality, 560.4041
Declaration of intent, 560.403
Deferred Presentment Act, 560.401
Definitions, 560.402
Fees, 560.403, 560.404
Grace period, 560.404
Insufficient funds at time of redemption, 560.404
Legislative intent, 560.408
Notice to drawers, 560.404
Payment of proceeds to drawer, 560.404
Recordkeeping requirements, 560.407
Redemption of check by drawer, 560.405
Registration of providers, 560.403
Restrictions, 560.403, 560.404, 560.405
Transaction agreements, 560.404
Unlawful acts; penalties, 560.111, 560.403
Worthless checks, remedies of deferred presentment
provider, 560.406
Definitions, 560.103, 560.302, 560.309
Exemptions from statutory provisions, 560.304
False or misleading financial statements or supporting
documents, filing, 560.1073
Fees, 560.303, 560.307, 560.308, 560.309
Fingerprints, 560.306
Foreign currency exchanges, See FOREIGN CURRENCY EXCHANGES
Funds transmitters, See MONEY TRANSMITTERS; PAYMENT INSTRUMENTS
AND FUNDS TRANSMISSION subtitle Payment instrument issuers or sellers
and funds transmitters
Investigations, 560.306
Locations, 560.305, 560.306, 560.307, 560.308, 560.310
Money laundering provisions, applicability, 560.309
Money transmitter-affiliated parties, 560.305, 560.306
Money transmitters, See MONEY TRANSMITTERS
Notices, 560.309, 560.310
Payment instrument issuers or sellers, See PAYMENT INSTRUMENTS
AND FUNDS TRANSMISSION
Payment instruments deposited with financial institutions,
endorsement with name of registrant, 560.309
Principal office, 560.305, 560.306
Records, 560.310
Registration, 560.303, 560.305, 560.306, 560.307, 560.308,
560.309
Unlawful acts; penalties, 560.1073, 560.306, 560.308, 560.310


You might also be able to get some information from the Office
of Financial Regulation of the Florida Department of Financial
Services. You can access the homepage of their website by clicking on
this link: http://www.flofr.com/. On this page you will find information
and links to other resources, including a form which allows you to file
a complaint online.

The Florida Statutes can be found on the Internet through the
Legislature's homepage at: http://www.leg.state.fl.us. Click on
"Statutes and Constitution," then click on "Florida Statutes, and then
click on the title containing the provision(s) in which you are
interested. For example, s. 11.242 is part of chapter 11 and can be
found in Title III Legislative Branch; Commissions. The Florida Statutes
may also be found in your county library.

Additional information about Florida's government may be found through
http://www.myflorida.com.

Division of Statutory Revision

Sub: #7 posted on Wed, 04/05/2006 - 00:57

erzeke1 erzeke1

(Posts: 1145 | Credits: 183.13)

erzeke1, I just pmed this to you, but thought it might help others. I used this letter a while ago to help a friend with US fast Cash.

To whom it may concern,

It has come to my attention that your company is not licensed in the State of Florida, which is required fo all payday lenders loaning to Florida residents regardless of the location of the business. As such, I was not legally permitted to enter into the loan contract with you, and based on advice of counsel and an opinion from the Florida Attorney General's office, our contract is not valid. Therefore, i am immediately and permanently revoking my authorization fot you to debit my accounts.

Additionslly, I am requesting that you immediately place me in a do not loan status, and mark my account paid in full/zero balance due to the fact that our contract is illegal in the State of Florida.

I expect your affirmative response within 24 hours of receipt of this email or I will request the assistance of the State of Florida in seeking injunctive relief frm the contract.

Sub: #8 posted on Wed, 04/05/2006 - 01:03

jj jj
Moderators
(Posts: 1057 | Credits: 107.78)

They will likely reply with a message that you obviously don't read you rcontract, but they will also more than likely close your account. If they don't and try and debit they will be violating federal law by doing so after revocation.

Sub: #9 posted on Wed, 04/05/2006 - 01:04

jj jj
Moderators
(Posts: 1057 | Credits: 107.78)

And throw this in your letter somewhere just for good measure...

Quote:
Your claim that the contract that I signed is only governed by the law of the state in which your company resides is unsubstantiated. There is specific Federal case law that refutes your claim. Your company solicited, accepted and transacted business with a citizen of the State of Florida, thus you are subject to the laws of this state including the usury laws.

???Dot Com repeatedly and consciously chose to process Pennsylvania residents' applications and to assign them passwords. Dot Com knew that the result of these contracts would be the transmission of electronic messages into Pennsylvania. The transmission of these files was entirely within its control. Dot Com cannot maintain that these contracts are "fortuitous" or "coincidental" within the meaning of World-Wide Volkswagen. When a defendant makes a conscious choice to conduct business with the residents of a forum state, "it has clear notice that it is subject to suit there." World-Wide Volkswagen, 444 U.S. at 297, 100 S.Ct. at 567. Dot Com was under no obligation to sell its services to Pennsylvania residents. It freely chose to do so, presumably in order to profit from those transactions. If a corporation determines that the risk of being subject to personal jurisdiction in a particular forum is too great, it can choose to sever its connection to the state. Id. If Dot Com had not wanted to be amenable to jurisdiction in Pennsylvania, the solution would have been simple--it could have chosen not to sell its services to Pennsylvania residents.??? (W.D.Pa. 1997)

Sub: #10 posted on Wed, 04/05/2006 - 01:07

polly polly

(Posts: 1709 | Credits: 253.21)

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