I took out a loan from UCL for $400 last week. It was my full intention to fully repay the loan on the first due date. I never received any phone contact or email after I applied for the loan. Several days later the monies appeared in my account. Now that I have done some research on-line, I am very weary of this company. I called today to try to get them to take a full payment of the loan this Friday (first payment) and was told that I could no request a payoff over the phone. The operator told me that I would have to log in to thier website to select the payment terms. The operator offered to email me the username and password. Guess what>> no email was ever recieved. I checked my main email and my spam email both. When I try to navigate thier website there is an option for forgotten passwords. But they do not show my email account as being valid. That seems like a simple mistake, except that I had the operator confirm my email address during the telephone conversation.

The more I have read about this company, the more I am convinced that they have no intention of recieving a full payment. They want to charge the fees and make as much money as possible on the "loan".

As a result, I decided to be proactive on the banking front and I have closed my accounts prior to the first ACH. I have assurances from my bank that no ACHs or demand drafts will clear the closed account. So at least I am safe in that regard.

There are other problems that will arise that I am not sure how to deal with:

1. I have $400 of thiers. I am not going to call them in advance of Friday...that would allow them to try to do something to my old account prior to it fully closing. I want to give them back this money. I am smart enough to know that I cannot do any type of electronic transfer (they would get my information that way). In addition, I will not write them a check (same problem). So I need advice on how to engage them to return the funds. I have no problem paying them a fee or two...but how do get any assurance that they will close the loan at that point? Thier track record on this is miserable.

2. They have all of my personal information. SSN#, Driver's License #, phone number, email, personal contacts. I can easily block their calls on my cell phone. I cannot keep them from calling my relatives or my employer. I plan to tell all parties what has happend so they can expect the worst. I will even offer to pay to have my references' telephone numbers changed. That will not make up for the inconvienience, but I think being proactive will go a long way towards minimizing any damage. I will put a lock on my credit reports (they were not that great, but damage is damage).

Does anyone have any further advice? Remember, I am convinced that this company had no intention of making this a one-payment loan. I realize that my actions in advance of thier ACH put me in a difficult situation to argue from. Based on what I have now discovered about them, I do believe that I have taken the initial steps to protect myself from the damage that they have caused others.

Your thoughts?

Well, it sounds like you're TRYING to give the money back. I'm wondering, when you told them you wanted to pay off your loan, if they locked you out of your e-mail account with them on purpose? Having dealt with this company for some time I can guarantee you WILL hear from them. I'd offer to send them payment via a prepaid credit card or something like that and then it's up to them if they want to accept your terms. For your own information, I'd also keep a log of any e-mails or calls you make or receive.

Originally Posted by Anonymous

I took out a loan from UCL for $400 last week. It was my full intention to fully repay the loan on the first due date. I never received any phone contact or email after I applied for the loan. Several days later the monies appeared in my account. Now that I have done some research on-line, I am very weary of this company. I called today to try to get them to take a full payment of the loan this Friday (first payment) and was told that I could no request a payoff over the phone. The operator told me that I would have to log in to thier website to select the payment terms. The operator offered to email me the username and password. Guess what>> no email was ever recieved. I checked my main email and my spam email both. When I try to navigate thier website there is an option for forgotten passwords. But they do not show my email account as being valid. That seems like a simple mistake, except that I had the operator confirm my email address during the telephone conversation.
The more I have read about this company, the more I am convinced that they have no intention of recieving a full payment. They want to charge the fees and make as much money as possible on the "loan".
As a result, I decided to be proactive on the banking front and I have closed my accounts prior to the first ACH. I have assurances from my bank that no ACHs or demand drafts will clear the closed account. So at least I am safe in that regard.
There are other problems that will arise that I am not sure how to deal with:
1. I have $400 of thiers. I am not going to call them in advance of Friday...that would allow them to try to do something to my old account prior to it fully closing. I want to give them back this money. I am smart enough to know that I cannot do any type of electronic transfer (they would get my information that way). In addition, I will not write them a check (same problem). So I need advice on how to engage them to return the funds. I have no problem paying them a fee or two...but how do get any assurance that they will close the loan at that point? Thier track record on this is miserable.
2. They have all of my personal information. SSN#, Driver's License #, phone number, email, personal contacts. I can easily block their calls on my cell phone. I cannot keep them from calling my relatives or my employer. I plan to tell all parties what has happend so they can expect the worst. I will even offer to pay to have my references' telephone numbers changed. That will not make up for the inconvienience, but I think being proactive will go a long way towards minimizing any damage. I will put a lock on my credit reports (they were not that great, but damage is damage).
Does anyone have any further advice? Remember, I am convinced that this company had no intention of making this a one-payment loan. I realize that my actions in advance of thier ACH put me in a difficult situation to argue from. Based on what I have now discovered about them, I do believe that I have taken the initial steps to protect myself from the damage that they have caused others.
Your thoughts?

GO INTO YOUR BANK
TELL THEM YOUR ACCOUNT HAS BEEN COMPRIMISED
Put STRICT SECURITY MEASUREMENTS ON YOUR ACCOUNT
i DID THAT,EVERYTIME YOU CALL THE BANK YOU WILL HAVE TO GIVE YOUR "SECRET OR SITUATION" LIKE IF THE BANK SAYS,"CAN I VERIFY THIS IS MS.*****" THEN YOU WILL SAY (ANY EVENT, CICUMSTANCE, OR PLACE OF INTEREST) THAT YOU AND YOUR BANK ONLY KNOWS..(NOTHING THAT IS LINKED TO YOUR PERSONAL INFO. THOUGH.sAY YOU LIKE GOING TO FIJI IN THE WINTER...THAT WOULD BE YOUR PASS TO SPEAK WITH YOUR BANK ABOUT YOUR INFO. if UCL has all your info and you do not have those security measurements then they can use your info to get your new acct #...then that defeats the whole purpose of opening a new one.
But, if you have *answers* to certain *issues* you and your banker only know.....then NO ONE (even if they have your personal info) can get into your new acct. over the phone..no matter WHAT THEY SAY..i HOPE THIS MAKES SENSE.
gOOD LUCK. i TOO, AM A VICTIM. i PAID THEM BACK ON TIME ALL THE TIME. they too kme for evrything. Praise God I am just getting on top of thigs. To give yo n idea...I got a $300 loan...I paid them over $800!!! They are still trying to get morre $$. I am prayingthey are shut down. What we need to do is Pray!! This is just robbery. I mean we have paid back all the money. They know they are illegal. That is why they are trying to get their money aggressively.
Good Luck and God Bless!

Their "business model" is to take advantage of people living paycheck to paycheck. They know their customers are the type who will worry about if they can afford gas or not until very their next pay check is close. Hence, they don't accept payments close to your due date. Could you imagine a legit bank engaging in this conversation:

"hi! I'd like to pay off my loan early"

"no... It's too close to your due date"

"oh so it's some sort of computer thing?"

"yes."

"so can you debit my account at before my next pay period is up so you can get your money and I can minimize interest?"

"no."

"well if your computer system is that rough, do you have an address where I can mail a check?"

"we dont accept checks"

"you loan hundreds out to people you've never met over the internet and draft pre-authorized e-checks but you dont accept checks?"

"yes"

"can I mail you a cashier's check.... or... cash?"

"we don't accept cash"

"but you're cashplanet.com!!"

"no, the earliest we can accept payment is on the date of your next paycheck"


GTFO... If i were you I'd keep the money and let the loss serve as a lesson to them

I received a loan from them for $300. Now how do I pay the stupid thing back!? I've receiving thousands of junk emails from them and people like them and I'm getting fed up. I want this done and over with. Also I'm receiving a phone call from 18667656669 from people by the name of USFC. They DON'T exist!! I'm never doing this again, and they are not pushing me around they're getting the 341 I agreed to pay and if anything else comes out then they'll be the ones going to jail. I am sick of being pushed around by places like them and my utility company who just grab into my bank account and take MY money! If they wanna play this game I'll play it better.

I'm going to my bank to block them out tomorrow. They did the same thing to me. You never okayed it over the phone or by email so legally they gave you free money. The same with a company that sends you stuff in the mail and expects you to pay for it. It's considered a "gift" unless you've okayed it. They're not getting anything back from me. I had the intention to pay but they're NOT going to screw me over.