[kashzan]

Tennessee State Information

Legal Status: Legal

Citation:
Tenn. Code Ann. §45-17-101 et seq.

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: the lesser of 15% of the check or $30
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: 3 (2 per licensee)
Rollovers Permitted: None (cannot renew or otherwise consolidate)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: One $30 NSF Fee; Court Costs
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Tennessee Department of Financial Institutions
Address: 511 Union Street, Suite 400 Nashville TN 37219
Phone: (615) 741-2236
Fax: (615) 532-1018
Regulatory Contact: Bart Daughdrill,
Regulator Website

Licensee Database

Complaint Instructions

Thank You. Were can I go to get the C& D letter. SO is this company legal in TN?

So, is United Cash Loans legal in TN?

I am from South Carolina and the United Cash Loans have been taking $90.00 a month from my check each pay period. I have paid them over twice the amount of the loan. I do not know if they are liscensed in South Carolina. How can I find this information out and will I have to pay anymore towards the Loan?

[paulmergel]

united cash loans is part of MTE.they will not be legal anywhere.if you paid the principal in supposed interest then you are done you owe them nothing more.if you overpaid the principal then you can demand a refund.can't guarantee you will get one,but you shouldn't pay them another dime.they will fight you on that.don't listen,they are unlicensed therefore illegal.they are not licensed at all,they are illegal in every state.

Where can I find the Pennsylvania State Information listing so I can send UCL a certified letter with the documentation?

[phoenix]

PDL laws in Pennsylvania are:-

Pennsylvania State Information

Legal Status: Prohibited

Citation:
Check cashers are specifically prohibited from making payday loans under Check Cashing Licensing Act of 1998, § 505(a). Otherwise, consumer discount company act applies. 7 Pa. Cons. Stat. Ann. § 6201 et seq.

Small Loan Rate Cap
$9.50 per $100 per year discount or 24% per year

Where to Complain, Get Information:
Regulator: Pennsylvania Department of Banking
Address: Market Square Plaza, 17 N. Second Street Harrisburg PA 17101
Phone: (717) 214-8343
Fax: (717) 787-8773
Regulatory Contact: Jim Keiser Administrator of Non-Depository Institutions

I live in TN. I had a loan with them $200 it has been paid back and they are still taking money out to be exact $350 so far I am not happy who can I contact because in two weeks they will be taken out more money PLEASE HELP

[phoenix]

Hi Hether,
Let me tell you that every state has it's own set of payday loan laws.
Tennessee is such a state where it is not mandatory for the internet pdl to be essentially licensed in the state where the customer resides. Here is the basic law: -

The following state allow an internet based payday loan company to lend legally as long as it is licensed in any US State. They would need to follow the laws of the state they are licensed out of, not the state the consumer is in.

Arkansas

Minnesota

Pennsylvania

Rhode island

Tennessee

Wisconsin

Now let us come to the basic loan terms permitted in your state: -

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: the lesser of 15% of the check or $30
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%

. Please check whether united cash loans has abide all the above mentioned loan terms while giving you the pdl.

Now, the question regarding Debt limits come to the fore. What does Tennessee's payday loan laws say? It says that

Debt Limits:
Maximum Number of Outstanding Loans at One Time: 3 (2 per licensee)
Rollovers Permitted: None (cannot renew or otherwise consolidate)

If the concerned pdl company has violated any of the above mentioned pdl laws then you can complain to: -

Where to Complain, Get Information:
Regulator: Tennessee Department of Financial Institutions
Address: 511 Union Street, Suite 400 Nashville TN 37219
Phone: (615) 741-2236
Fax: (615) 532-1018
Regulatory Contact: Bart Daughdrill

I feel really stupid to not have not done a background check on UCL. I just took out a 200.00 loan from them today. I have not received it yet and I called them today but they were closed. I no longer want the loan after the things that I have heard. Is there anyway to put a stop to my bank receiving the money?

IN May 2008 I took a loan for 150$ from UCL.I paid it back in full w/fees. Subsequently in 8/08 UCL tried to debit my account for $600 and I had to fill out fraud papers with the bank. They said my stop payment with UCL would be good for 6 mos. Unfortunately UCL has tried 2 more times to take money out of my acct and have recently succeeded again.My bank(US Bank) is now telling me that there is nothing they can do to help. Can't they offer to close my acct or something and I can open another one? Why are they not responsible if I have a stop payment which was issued by the bank in 8/08 supposedly good for 6 mos against UCL? Please help. I am going to try to at least close my account with them. Maybe this is my only alternative since I can't get any cooperation from US BANK on this.

[NASCAR_Devil]

I would raise all kinds of hell. Walk into the branch and ask to see the manager. Do not take no for an answer. Be very loud and insistent. Make sure that it is at a busy time of day. Take all documentation with you. Also, find out the name of the President and CEO, CFO of US Bank before you go and make sure you start dropping names. You will definately get their attention and if you're a big enough PITA, you should be able to get this issue resolved. Follow up with e-mails to the President, CEO, CFO, etc.

I was able to get in touch with someone at US Bank today and she told me that the reason this $600 debit was taken out of my account and not stopped was because my stop payment was for EFT only. This time the sneaky thieves at UCL submitted a check and it went through. Get this is it says specifically on the check that this is authorized by me in the event that an EFT is not processable. These guys are real good! I am going to go down to the bank in person tomorrow and close the account. This seems to be the only way out from these crooks! I can't beleive that a stop payment has such boundaries as EFT or checks. It's from the same enity though. Both say UNited Cash loans on them. This has been a very expensive lesson for me. I hope that no one else does any business with UCL. I have tried to contact them and of course they are closed everytime I call. What a scam. I feel like such a fool!

i borrowed 300. now i got a call from my sister saying jimmy carter at 646-213-1090 called and threatened saying i oew them 725.00 and they were gonna sue i put my sister down as a reference when i called the # he said i owed 725. but i borrowed 300 and he said i borrowed 280. i borrowed in may and he said april. help me i'am scared

i borrowed 300. now i got a call from my sister saying jimmy carter at 646-213-1090 called and threatened saying i oew them 725.00 and they were gonna sue i put my sister down as a reference when i called the # he said i owed 725. but i borrowed 300 and he said i borrowed 280. i borrowed in may and he said april. help me i'am scared

UNITED CASH LOANS HAVE BEEN MAKING FRAUDULENT PAYMENTS TO GET MONEY OUT OF OUR ACCOUNT. SO FAR THAT I KNOW OF THEY HAVE MANAGED TO GET $800. I HAVE CHANGED BANKS AND ACCOUNTS NUMEROUS TIMES. THE BANK HAS BEEN MADE AWARE OF THIS PROBLEM AND IS NOW CONDUCTING THEIR OWN INVESTIGATION. I DON'T EVER EXPECT TO SEE THIS MONEY AGAIN. MY QUESTION IS: IS THERE ANYTHING ELSE I CAN DO TO STOP THIS OR GET OUR MONEY BACK OR SHUT THEM DOWN? APPARENTLY WE ARE NOT THE ONLY ONES THIS IS HAPPENING TO. THEY HAVE PRESENTED ANOTHER FRADULENT PAYMENT TO MY ACCOUNT TODAY FOR $277.00 WHICH I CANNOT GET THE BANK TO STOP PAYMENT. I DON'T KNOW HOW A BUSINESS CAN STAY IN BUSINESS WHEN BREAKING THE LAW. IF I COULD AFFORD AN ATTORNEY, I WOULD TAKE LEGAL ACTION AGAINST THEM. MAYBE EVERYONE THEY HAVE DONE THIS TO NEEDS TO CHIP IN, HIRE AN ATTORNEY THAT WILL GO AFTER THEM AND PUT AN END TO THIS FRUSTRATION THEY HAVE HAVE CAUSED NOT TO MENTION THE EMPTY POCKET BOOKS!