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 Posted: Thu Oct 04, 2007 12:13 pm Subject: CMG Group
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I just received this letter from CMG Group.
| Quote: | We have received and reviewed your correspondence regarding your complaint with CMG Group, LLC.
While the information that you have collected may apply to companies that have physical locations in your state, it is our opinion that it does not apply to our internet business model. This is based on sound advice from our legal department.
The money was lent to you in good faith with the understanding that you would abide by the terms detailed in your loan contract. We upheld our end of the agreement by crediting the funds to your account in a timely manner. The Loan Note and Disclosure that you e-signed and thereby agreed to is very detailed and clear so as not to cause any confusion to the borrower, and meets all the Truth-In-Lending and Reg Z requirements as prescribed by Federal statute.
Upon review of your account history, you clearly knew all terms and conditions of your loan. We have all the legal contracts you signed, in which you agreed to terms and conditions of the loan. Due to the facts of your signed agreement, including providing a paystub to approve your loan request, there will be no refund.
If you would like a copy of your loan agreement, please contact our Customer Service at 1-866-516-9300.
Respectfully,
Compliance Department
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Is this just a scare tactic? Do I in fact not have any chance here. i have already paid them $450 on a $300 loan.
Jeanelle
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Jeanelle
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Posted: Thu Oct 04, 2007 12:20 pm Subject:
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Wow- this letter looks familiar...I have seen this exact same letter posted here from other members.
What state are you in?
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volleyballmom
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Posted: Thu Oct 04, 2007 12:22 pm Subject:
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I'm in Florida.
Jeanelle
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Jeanelle
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Posted: Thu Oct 04, 2007 12:45 pm Subject:
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Hi Janelle...is this the same CMG group located in the West Indies? I was trying to see if they were licenses in FL and I cannot find anything.
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volleyballmom
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Posted: Thu Oct 04, 2007 12:47 pm Subject:
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I think they are. I sent the fax to a toll free number so who knows where they really are.
Jeanelle
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Jeanelle
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Posted: Fri Oct 12, 2007 6:49 am Subject: CMG LLC Scam
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I also need to find out about this CMG Group LLC. I have never ever signed up for a payday loan w/ them and $90 has been taken out of my account for the past 2 months! I have tried to find out who this company is and how to file a report against them for illegal bank drafts. Does anyone how any information about this group. All I know to do is to close my account right now before any more money is taken out.
Jenny
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jljones30
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Posted: Fri Oct 12, 2007 6:52 am Subject:
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Jenny , before you go ahead and close your account , please read this
| Quote: | Before you close your bank account due to payday loans eating away at your paycheck, please read this.
Some banks have a policy regarding ach transactions that allows them to force open closed accounts if any ach transactions go through within a certain time frame after the account is closed. This can leave you owing a legal bank $1,000's and reported to chexsystems, instead of owing barely legal (or not at all legal) payday loan companies. Not a good thing. Ask your bank what their policy is on ach transactions on closed accounts before you close the account. It's best to go in person and talk to a branch manager.
If your bank does have this policy, tell them your situation. Don't be embarrassed. Take letters with you showing that you have revoked authorization for each of your payday loan companies to debit your account. Tell the bank to put your account on deposit only, an ach block, or a hard hold before they close the account. Your bank can do one of those, don't take no for an answer. This will prevent any payday loan ach's from reopening the bank account.
It'a always best to close your bank account. Leaving it open gives ways for the payday loan companies to continue to take money out. These companies have many different dba's, so blocking them won't work. They will also produce paper checks and run them through your account. Closing the account is the best way to prevent these companies from taking money out of your account.
Some state laws do allow for prosecution if you close your bank account, but that is usually in cases of fraud. But it's always best to check with your state's attorney general or department of financial institution before you close your account. You want to make sure you are not causing more heacaches! |
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kashzan
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Posted: Sun Oct 14, 2007 10:11 am Subject:
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Kashzan, your point is well taken, but they have been taken money out of his/her account illegally as he/she has not applied for a PDL.
Close the account and notify federal, state and local authorities on this company.
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PDLInvestigator
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Posted: Sun Oct 14, 2007 8:22 pm Subject: reply
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This was found on another post. Maybe it will help.
The number I have for CMG is 866-516-9300. Address for that phone number is 10108 Summer Oak Ln#103 Las Vegas, NV 89134.
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cannr
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Posted: Tue Oct 16, 2007 9:32 am Subject: CMG and affiliated collection
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I made the BAD mistake of accepting a loan from these people, then lost some income and could not pay the loan. they turned it over to a group in Florida called United Pay Services located @ 4494 Southside Blvd. in Jacksonville,Fl. They have threatened me with everything including internet fraud, also would not accept any payment agreement that I could afford to pay with my present income situation. Called me and told me they were returning my initial payment and proceeding with litigation. this stems from my name not being on my wifes acc't. where the money was sent. I do have full power of att. do do this, but they wouldn't listen and hung up on me when I told them that. But that is not the heigth of my STUPIDITY, I have seven more of these loans with different groups that I am working on paying also
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lewis holmes
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Posted: Tue Oct 16, 2007 9:40 am Subject: reply
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lewis, do not beat yourself up! My gosh! Why do you think all of us are here? For the very same reason! If you need any help at all, please feel free to post. We can answer any questions or find some information you may need. Just let us know. You're not alone here. 
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cannr
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Posted: Mon Oct 29, 2007 6:32 am Subject:
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Well it seems these people are making the bucks. They have drafted enough money out of my account to pay this loan x3. On top of that I had no way to get a hold of this company. I got their number from your blogs, and they are going to take another $390 out of my account on th 12th of November. I guess making money off of other peoples hardships is the way to go.
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s_torre33
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Posted: Mon Oct 29, 2007 6:39 am Subject:
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s_torree33....if you have paid them that much money, why are they going to take another $390?
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aminah0529
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Posted: Mon Oct 29, 2007 6:47 am Subject:
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because they were drafting $90 every payperiod since september 9. and now the only way to get them off my back is to pay the loan in full. They drafted $180 this morning which is going to make the check for my house payment bounce. The women I talked to said they drafted two payments because the last draft resulted in a NSF. go figure.
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s_torre33
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Posted: Mon Oct 29, 2007 7:13 am Subject:
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I had one as well and they turned it over to United Pay Services. This guy called me and threatned me with everything. I got so scared I paid this guy $850.00 for a $300.00 loan. He did "work" with me with payments though. He wanted $300.00 that day and I tried to reason with him and he said no and then finally agreed. I took my time with the last one though.
This whole thing confuses me though. I understand that in my state if NJ, they are illegal but most of these companied don't deal with certain states, specifically, NY at all. Why is this? I'm just so paranoid because my other loans keep calling me and telling me this and that. I had one call me back in August telling me I was a "person of interest" and they would proceed with a civil suit if I couldn't come with an out of court settlement of $750.00 on a $300.00 loan. She wasn't foerign and was definatly American. I am just really confused on all this.
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Breakthecycle2
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Posted: Mon Oct 29, 2007 1:23 pm Subject: reply
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The reason you are getting so confused is because you are listening to the pdls. Read all the posts on here. You will see that they will take THOUSANDS from people if they are able. They're going to tell you everything under the sun. They're going to argue with you. They're going to lie to you. They're going to threaten you. And all of this is illegal. And, you reside in a state where pdls are illegal. They are illegal. They're tactics are illegal. They are going to try every trick in the book. Do not listen to them. Of course they're going to lie to you. They want to continue hitting your account, scaring you into paying 1000 on a 200 loan. They are illegal. Do not take their calls. Do not speak with them. Do everything via email. We post the law for you. We don't make it up. We check the licensee databases. We do not make this up. Do not be confused.
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cannr
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