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Micksprint · Posted: Sat Dec 15, 2007 6:17 am Subject: Are these companies licensed/legal

Hello,

Could someone please tell me if these PDL companies are licensed/legal in Pennsylvania or any other state ?

ameriloan
OneClickCash
MyCashNow
1800899Cash

Thank you very much for your help.

Posted: Sat Dec 15, 2007 7:31 am Subject:

Pennsylvania law is that if a lender is licensed in another state, following that's states rules and doesn't have any employees or operations in Pennsylvania then its loans are legal in PA. The only one I know for sure is legal on your list is 1800899Cash. They're licensed in Delaware. ameriloan and OneClickCash definitely aren't licensed anywhere and it seems like half the banking commissioners in the country are going after their owner, Scott Tucker, right now. I'm not sure if MyCashNow is legal anywhere or not, but I doubt it.

Micksprint · Posted: Sat Dec 15, 2007 6:39 pm Subject:

Thank you very much. I feel like such an idiot I thought these firms were on the up and up. It wasn't until I have gotten to the point I can't pay anymore I learned most of them are not and found this site.

Since April 2006 I have borrowed $1,750 from ameriloan and have paid them $4,630. I have also borrowed $1,900 from One Click Cash and have paid them $4,240.

I was really feeling bad about having to default on my current loans and felt morally obligated to pay back at least the principle when I can, but I'm not going to pay these two companies another dime.

Since 1800889cash is ligitimate I will do all I can to settle with them. Does anybody have information on My Cash Now.com ?

What steps should I take ? I know the first step is closing my bank account which I will do on Monday. Is there a draft form of the letter revoking ACH rights ? Should I fill a compliant with the Pennsylvania AG or the BBB ?

Thank you all very much for your help. for your help.

Mick

Posted: Sat Dec 15, 2007 7:11 pm Subject:

Here's a link for all the sample letters.
http://www.debtconsolidationcare.com/letters/

Posted: Sat Dec 15, 2007 7:33 pm Subject:

How long does it take to hear back from the BBB or the FTC? All I've received is an e-mail saying that they received my complaints. Do they then contact the companies that you have complained about and the company responds or does BBB & FTC actually respond? I've never dealt with anything like this before and was just curious of others' experiences.

Thanks!

Posted: Sat Dec 15, 2007 8:44 pm Subject:

tina...the only thing you will hear from the FTC is that they have recieved your complaint and they keep them on file. With the BBB it can take 30-60 days. They will contact each lender you complained about and then wait for a response. If they don't get one after 30 days they will try a 2nd time and then close the file. You should also file complaints with your state attorney's office or the dept. of financial institutions for your state. They are the ones that seem to help the most.

Posted: Sun Dec 16, 2007 12:14 am Subject:

Thanks Morning. I appreciate the info.

Posted: Mon Dec 17, 2007 9:39 am Subject:

I'm in NJ and what's the banking comission's website I would use?

Posted: Mon Dec 17, 2007 10:42 am Subject:

So I just went on achloan.com's website to see if there were any more responses, etc. Where it shows what amount I owe, it shows that I owe $410.00 on a $200.00 loan. I've already paid them $210.00 and have requested a PIF from them. They have told me that there will be no PIF and they will continue to collect. The other day, it showed that I owed $270.00 and now it's jumped up to $410.00!!!! Just thought I'd share that with you guys, amazing how that happened.