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Posted: Thu May 01, 2008 5:33 pm Subject:

I just got this from them, But I am going to fight for a refund too. Hit them where it hurts, their ACH Processor. It is Missouri Bank and Trust. They were not much help but they did a three way call and the woman agreed to mark me PIF.

Per our conversation earlier your loan has been paid in full as of today, also your account was set up to be debited in the amount of $90.00 on 5/5/08 because we process all payments 3 business days prior to your due date I was not able to stop this transaction but I will sending you a $90.00 refund out. If you have any other questions or concerns regarding your account please call me at the number listed below. Thanks

Vedia Johnson
Customer Service Manager
The Loan Shop
2207 Concord Pike # 505
Wilmington, De 19803
(800)757-0122 ext 3364
(800)488-3481 fax
vjohnson@ltsmanagement.com

raa94g · Posted: Fri May 16, 2008 12:29 pm Subject: ph number lts

800-806-9971

Shoppin · Posted: Fri May 16, 2008 1:17 pm Subject:

The weirdist thing happened today. I settled with them for $200.00 refund last week and today I wake up to $330.00 in my account deposited by them. That was my overage plus they had already sent me the $200.00. If they try to take it back I will bite them.

Posted: Fri May 16, 2008 7:18 pm Subject:

All that I can say about The Loan Shop is that I "had" a loan with them 4 years ago... I paid the principal and the fee/percentage allowed in the State of FL. I never heard from them back until Nov. '07 when they started debiting $75, $50, $55 at different times and of course different amounts.
My bank has reversed the fees (thank God), but everytime that I think that I am done with them, PAM!!! Another ACH from them... different amount. My bank has urged me to close the account to avoid these debits, because a "Stop payment" doesn't work since they use different amounts every time.
I can't afford to close my account, since I have my utilities, car payment, etc... tied to this account and it will mean that I have to change everything for one stupid collector.
It has taken them over 3 years to come after me... so I hope that they give up soon and I can keep my account. **fingers crossed***

Posted: Fri May 16, 2008 7:27 pm Subject:

LR....I would not cross my fingers if I were you...I am dealing with the mright now and I had to close my account....some weeks they were trying to take out $150 at a time!! You can always switch your car payments, utilities, etc over to your new account...you need ti make sure YOUR money is safe....

Posted: Fri May 16, 2008 7:31 pm Subject:

This is the reply that I got from a rep at loan point usa, which if I remember right, is Loan Shop:

Dear. Angela
We do not make payment arrangements, you must pay your minimum payment on your scheduled due date. Since your account is closed, I suggest that your open a new account or pay off the loan by sending a Money Gram or Western Union . We do not accept payments by mail. If neither is an option, then your account will be transferred to collections? If you have any other questions or need any other assistance regarding this matter please contact customer service. Our office hours are Monday thru Friday 8:00 to 5:00 pm central time
Sincerely,

Kristine Roddy
Loan Officer
Loan Point USA
1-800-351-8820 Ext: 304
1-800-351-8830 Fax
kroddy@loanpointusa.com

And this is what I just emailed her in reply to that grabage she sent me:

Kristine,

Apparently you did not read the document I sent you. The only thing by law I am required to pay you is the $200 your company lent me. I am not going to open another account so your company can rob me blind. I will not send money Western Union or Moneygram...only money order. If you guys would like some money to pay off this account, then I suggest you provide me with a mailing address. You may send this account to collections, but your company will still not receive anything more than the principle amount you let me borrow to begin with, as your company is not legal/licensed and should never have loaned anything to me to begin with. All I legally owe your company is $140, nothing more. I have filed copmlaints with the BBB, FTC and the TN state Attorney General's office. I was hoping to resolve this amicably, so if you feel you can do that, then please provide your address so I can get this matter resolved.

Thank you,
Angela

Posted: Fri May 16, 2008 7:40 pm Subject:

Angie, I appreciate your comments, and I have been thinking about changing account $s, but it is an inconvenience, and as long as my bank puts the money back ito the account, I will be OK. It they bank forced the issue, then I will have to coply and change accounts. RIght now my case is with the ACH Fraud Unit, so hopefully, they can help, if not I will get a new account with them.

vicky · Posted: Sat May 17, 2008 8:46 am Subject: help me understand.......

can you help me understand "overpayment"? i have a 300 dollar loan. is that all i'm obligated to pay back? they way i understood, they said my total payback will be 345. if i don't pay 345 in full, then i have to pay a 45 dollar extension fee. if i continue to just pay that and nothing towards my principal, is that overpaying? i'm just trying to understand how do you overpay an amount of 960 on a 400 dollar loan. can someone help? thanks. Smile

Posted: Sat May 17, 2008 8:55 am Subject:

It all depends on what company your loan is through and if they are licensed/legal. Can you provide where you live and what copmany your loan is with?

vicky · Posted: Sat May 17, 2008 9:04 am Subject: to angie

i have a loan with the "loanshoponline". im in south carolina.

Posted: Sat May 17, 2008 9:54 am Subject:

Here are the laws regarding South Carolina:

South Carolina State Information

Legal Status: Legal

Citation:
S.C. Stat. Ann. 34-39-110 et seq.

Loan Terms:
Maximum Loan Amount: $300
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 15%
Finance Charge for 14-day $100 loan: $15
APR for 14-day $100 loan: 390%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: None
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: Lesser of: NSF fee of $10 or actual charge
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: South Carolina State Board of Financial Institutions
Address: Consumer Finance Division, P.O. Box 11905 Columbia SC 29211
Phone: (803) 734-2020
Fax: (803) 734-2025
Regulatory Contact: C. Dean Bratton,, Commissioner of Consumer Finance
Regulator Website

Licensee Database

Complaint Instructions Note: File complaints with Department of Consumer Affairs, through State Board of Financial Institutions is the regulator

So, loans ARE legal in your state....the next thin we need to figure out if this company is licensed, and I am pretty sure they are not. If "loanshoponline" is actually Loan Shop, then no, they are NOT legal or licensed. I'm not sure on what that means...if they have to follow your state laws....I believe all you would legally owe them is the principle amount borrowed. If I am wrong, I hope someone will be along to correct me....

vicky · Posted: Tue May 20, 2008 2:27 pm Subject: loan shop

thanks for the great information angie! if thats the case, they should be paying me...lol

Posted: Wed May 21, 2008 6:54 pm Subject:

You're welcome Vicky!!! It's nice to be able to pass along what i have learned here!!

Guest · Posted: Mon Jun 30, 2008 11:21 am Subject:

Hey everyone,Get this!I received a letter in the mail saying I'm $660.00 delinquent from "the loan shop online"(Northbay Ventures)To mail a moneygram to LTS Mangement SErvices in Delaware!!Guess What? I never got a frigin' loan in my life!!!Now What??Can they take $ out of anywhere,can I get some details of how far these theives go?Thank You all!!!Rhonda :

Posted: Mon Jun 30, 2008 11:25 am Subject:

Are they debiting your account? If you are possitive you have NEVER applied for a loan EVER, then you might want to consider looking into a possible Identity theft problem. Otherwise, this company goes by several different names, so it could have been a number of different pdl's. Shocked