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 Posted: Thu Oct 12, 2006 10:07 am Subject: Pay day loan collection practices |
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I have just found out that 2 payday loans that i have paid out plenty above and beyond what I owe them do not have a license to grant loans in my state. What should I do. One, Geneva Roth Ventures is calling my place of employment and harassing me and they will not accept any pay options I have offered. They told me even if I send a cease and desist letter they will call me at work every day. Can you help me?
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Maureen
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| Posted: Thu Oct 12, 2006 10:28 am Subject: |
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Maureen - Geneva Roth is notorious for threatening all kinds of things. Who is the other lender? Have a look at this template letter that you can send to the lenders. This way you'll have documented proof that they received the letters if you send them via certified mail/return receipt requested. http://pollyandsay.yesdebtfree.org/template-letter/
You can inform Geneva Roth that you if they are unwilling to mark your account as "paid in full", you will file a complaint with your Attorney General's office. They might back off a bit.
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Tiffany99
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| Posted: Thu Oct 12, 2006 10:54 am Subject: |
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Hi Maureen,
Welcome to the forums!
You need to go through your bank statements and review thoroughly how much is been paid on the account. Then, find out the laws on payday loans in your state. The charges are fixed by your state and no loan company is allowed to charge more than that. You will get an approximate idea whether the loans have been paid off and now you should insist for a 'paid in full' letter from Geneva Roth. First check your bank statements.
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Gretchin
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PassionHunting
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| Posted: Thu Oct 12, 2006 11:35 am Subject: Payday loans. |
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How do you find out if a internet payday loan is licensed in your state? I live in Wa. and I took a loan out with Cash Supply that I am currently in default with. Any info would be appreciated. Thanks.
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Mislilbit2
Joined: 12 Oct 2006
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PassionHunting
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| Posted: Thu Oct 12, 2006 12:55 pm Subject: |
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Mislilbit, they can be hell to deal with. And they try to use the "fraud" threat. I doubt they are licensed in your state, when I contacted the NM Ag's office they helped me and also found out when I gave them the company's name that they weren't even licensed in NM where they say they are located. You just need to be firm with them, and don't back down. Their parent company's located in Atlanta, GA so if they tell you that you can not mail in payments, I have the address if you need it, I can pm it to you.
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WHEREAMI
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| Posted: Thu Oct 12, 2006 12:56 pm Subject: |
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Also, file a complaint with the BBB, they do respond to the complaints against them. And they settled with me for what I legally owed according to my state law. Their rating with the BBB is "F" (surprise, surprise) But they respond quickly to those complaints and do settle.
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WHEREAMI
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| Posted: Thu Oct 12, 2006 4:22 pm Subject: Payday collections |
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Thanks everyone. I will check into all of this and get back to you. Good luck to everyone and know you are not alone!
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Mislilbit2@aol.com
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