Settle with 500 Fastcash?

Hi Spanisheyes. I had a loan with 500fastcash as well, and I chose to settle with them. (I did still owe them some money, though). You are saying that they owe you money. I think you just have to think about what you want. I'm not familiar with chapter 13, but if you want them off of your back today then I would just settle. (I know...it sounds wimpy!!!) Also, if you put them in with your bankruptcy and not settle, will you be removed from teletrac? Those are things that I'm not sure of. I can tell you from my own experience that once I settled I never heard from them again. It was more of a decision to just get them out of my hair. If I had to do it again I would probably have hung in there a little longer. :-)

You must have some documentation after getting this loan paid off. In my opinion, it's better to pay them off and get the documents. You'll be done with them. At this time, they are proposing settlement for one account only. So, you need to take care of it first.

THANKS ELEROO AND BONY. I will go ahead and send them the Moneygram. They owe me but I know I won't get anything from them so I might just well get rid of them.

I hear you loud and clear. Sometimes you just have to pick your battles. :-)

Whoops. The post from guest is from me. I forgot to sign in.

spanisheyes, your decision. You've overpaid them. They are illegal. However, if you want them out of your life, you can send them the $95.00. If you choose to accept the settlement of $95.00, get it in writing from them that your payment of $95.00 is considered to have this account marked paid in full, no other action will be taken against you, and that they will not contact you any further regarding this account. Get it in writing. These guys are illegal. And I do not trust them. Just my own personal opinion. Try to get whatever you can in writing.

We received your recent attorney communication in this department. The terms and condition are available from the website from the time of application, and there is a 48-hour window of in which to cancel the agreement and return the funds without incurring any fee. In addition before each debit an account summary is provided to you; which also summarizes the terms once more and all the options you have for repayment. We can fax a copy of your loan documents for your review. If you had wanted to avoid additional fees, you needed to insruct us to pull the full balance on your first due date, or soon thereafter.
Your current balance is : $320.00 in collections
We can offer you a one time settlement of $140.00 (giving you 120.00 credit toward the original AGREED AMOUNT on the contract you signed of $260.00)***THIS WOULD PAY THE ACCOUNT IN FULL***
This offer is good until 09/28/07only. ****YOU MUST CONFIRM BY END OF BUSINESS 09/20/07*****
This reduced balance must be paid by Moneygram, as directed below. THIS OFFER CANNOT BE PAID VIA ACH DEBIT-WE HAVE STOPPED ALL ACH DEBITS TO YOUR ACCOUNT. You may also call in a debit/credit card to this department to pay the reduced balance at 1-800-410-5568.
MoneyGram Instructions: Call 1-800-926-9400 for a location neat you, or at most Wal-Mart's
Pay To: 500FastCash
Receive Code: 4308
City/State: Miami, OK
Account-79780-Compliance
Please respond to this email and let us know if you will be taking advantage of this offer, otherwise the account has to continue per the contract at the full amount now owed of $320.00 in final collections, please call 1-800-410-5568 if any questions, thank you.
500FastCash Compliance Department
fax-1-800-803-9310
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Should I take them up on this offer?

I sure wish they would have offered me a settlement. They are ***holes! Good luck.

guest, before we can determine anything, how much was the original loan for (principle amount only) and how much have you paid on it so far? I want to see if they're asking for more than they should.

If you borrowed $260 and have paid $120 (as I am reading) this would leave $140 to have the principle payed off. Are these numbers accurate? If so, I would personally (and I'm saying personally) take the offer. Only because they're only asking for the principle amount. Yes, they are illegal. However, if they're willing to settle for the principle amount only, I'd do it just to get rid of the

****. They are sooooooo horrible. If you do choose to take the settlement, make sure you get it in writing that this account is paid in full, the account is closed, and there will be no further communication with you. Just my personal opinion posted here!

[color=Red]****Adult term removed - Jason[/color]