my question is i been paying off a payday loan from the cash store through a 3rd party collection agency for about 9 months at 100 dollars a month then I fine out that in early August my account was sent back to “The Cash store” I noticed it was the same time frame that alot of the companies in Oregon gave up there license to do business in Oregon cause of the new laws that went in effect in Oregon on July 1st. Now I cant get a hold of anyone from the company to ask whats going on. I owed 435 dollars lefted of about a 1000 dollar original balance. Do you think they just charged off the remaining balance?
August 1st, 2008 at 11:11 am
yes, but i would pay it all back…
August 2nd, 2008 at 12:03 pm
It’s unlikely.
If they do you will have a 1099-C for potentially taxable income.
August 2nd, 2008 at 6:15 pm
I doubt they charged it off. Most of these companies are not based in Oregon, instead most are based in California. The new laws that went into effect probably will not change the debt you incurred before the law change. The law change mostly limits the interest that these companies can charge from now on and that a certain amount has to be paid each month without rolling the loan over. There are also new requirements to boldly display the annual interest rate on the wall of the business. These changes have made it unprofitable for most companies to maintain their leases into the future. Since you already owe the money I would expect that these cash strapped companies will be even more agressive in collecting the past due amounts they already have on their books. Sorry for the bad news..I’ve been screwed by them as well. Can only be happy that many more will not suffer the same fate.
August 3rd, 2008 at 8:58 am
submit a certified letter to the company for demand for total debt - make sure that you are legally findable ie car reg or voting reg and if they do not disclose necessary info after certified letter is sent date your signature and enclose any previous collectors = you may wish to leave amount of remaining debt out of the letter because if they lost it it is a part of recourse on your defense if tjey do not disclose and you are legally findable 3 years is the statue of limitations previous laws do not use their ability to add interest unless you continue payments regularly that moves statue of limitations based on your last transaction
August 4th, 2008 at 4:31 am
Hello Everybody,
I am James William, a U.K resident and a second year student of university of liver pool. Just a months ago i walked into the hands of some dubrious person(scams), when i was in search of a loan of € 4,500 Pounds to enable me fund my education since i lost my parents in a gharsly auto accident while they were away on vacation. the scamers parted with my € 540 Pounds, which i managed to gather from friends and families to enable me takr care of my bills for lart two months. I decided to tell Betsey.A.Braiaton who communicated the story to Adrew Fulp who happens to be my Vic president for academic services and has got link with various notable lending firm accross the globe. By this means using it to bring a globarlizetion to the world, many student and business men having finacial problems have been able to complete their education to bring a globar happiness around the world .
My happiness now is that i have not only gotten the loan(€ 15,000 Pounds) to pay my tuition them Harvey Loan Inc, piloted by Mr, Patrick Harvey, i have also been able to establish a chaned to allow me collect money at very low competative interest rate.
since they have assured me thet i can come for more funds as long i am a genuine person for requesting it and that there is a possibility of repayment at the stopulated time.i have never ever seen this kind of wonder in my life and i decided i will tell it to the whole wild world and i need every one to thank GOD for Mr Patrick Harvey, the man GOD used to rescue me even when all hope had been lost and gone and i will say to every one, no matter how dark and sinful the world is today, there are still GOD fearing and reliable people on earth and if you are in need or require a loan legitimately and Government approve lenders, i will advice you contact this loan lender and you can reach him via and i want you all to pray for this man for me and you will also tell the world your own story.