[SUEBEEHONEY70]

Mr. B - thanks for sharing that - it seems the horror stories of those who have dealt with this company never end!

I'm just so glad that many people (like me!) have found this site and been able to get out from under the thumb of Route 666 (my new name for them!)

I work here in London. It is a money making scheme and it is legal because it is offshored in the UK. Unfortunately people desperate enough to take out an unsecure loan of only about $200 are probably the people that don't listen to the terms and conditions given to them verbally; they need money fast and the t&C aren't really on the top agenda.
They make the money by ruling out interest and using the term 'processing fees' to rope in customers. This is probably worse than interest- every time you receive your wage, be it weekly / bi-wkly/semi-monthly and you haven't paid the original loan, you need to pay the processing fee. What can start out as a $200 can surmount to a huge sum.
It is legitimate, although entirely unreasonable, but if you agreed to the terms over the phone then you have noone else to blame- there will always be people out there making money under these kind of practices.

[kscornell]

First off, worker it is NOT legitimate. We have a term for what you are doing here in the USA: loansharking. And no, that it not legitimate or legal.
If you want to do business in the USA, you need to follow and abide by US and state law--and that includes being licensed to do business in states where you loan and following their laws re loaning. And following the fdcpa would also be appreciated as well!

Just an update: Route 66 no longer calls my wife’s workplace, but either them or ameriloan, (Are they the same, does anyone know?) has begun pestering the company I work for, and using what appears to be a new tactic and something you guys might want to watch out for at your own workplaces. The guy they are looking for hasn’t worked for us in almost 5 years and by some accounts, may even have died. They call the front office and use “Pretexting� (Phising for info under false pretenses) to find out who works where in certain departments. They then call back and ask for an active employee and when that person answers, pretend to be a friend or relative of the former employee to worm info out of them and even threaten legal action. Some of our office staff aren’t exactly English majors either, and fell for this for a time until management clued them in. Now, they just call after hours and leave vague and nasty messages in whatever voicemail they can access. Pathetic!

[kscornell]

Thanks for the update, Mr. B. This just shows that they are indeed scum and they think that they are above the law.

[Lukeskywalker]

Soon, no evil loan companies, pay check to check loan companies, banks, will be above the law.

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[SUEBEEHONEY70]

I am locking this thread, as all it attracts lately is spam.

If you have questions regarding the payday lender known as Route 66 Funding (among other names), please use our search bar at the top of the page to search on "Rt 66 Funding" or "Route 66" for other threads on this company.

Thanks.