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 Posted: Thu Aug 07, 2008 8:00 am Subject: LoanShop Online/ LTS |
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Hi
I am in CA and I have a pdl with the LoanShop Online. I have reqested 6 times now for a document of debt so I can read the fineline of ur contract, no letter no form no response. They deducted $60 from my account one week and that was okay t pay my loan. I was expecting them to take more but when I e-mailed to inquire I got no response. The next payday they took another $60. I found a phone number and finally called them to get the balance of the loan since I have no paid $120.0 on a $200 loan and they said that my balance was $260 and the $120 taken out was for late payment fees. I explained to them that I had been inquiring about payment methods and why they had not taken out more as I recall they said they would be taking $115.00 every two weeks for 2 weeks, paying $230.00 which is the correct amount as I live in CA.
The rep I spoke to said they had no record of that and if I wanted to settle I could pay $260.00 at that moment.
I then found this forum and wrote a letter, mailed, faxed it, and e-mailed it, revoking their ACH withdrawl permission and that they could only call me on my home number provided, do not call my employer or job (as I had read many horror stories on this board) nor could they call my other listed contacts or they could mail or e-mail me. Talked to my bank and said they had permission to take $115 twice to pay the loan not $60 anytime they felt like it to pay fees and placed a stop payment on them.
After I did that a rep from their office called me at work and started laughing at me stating that they are licensed in CA and able to prosecute me and will send me to collections. I informed her that she was not allowed to call me at work and she hung up on me. Today I wak up and they have taken $260.00 from my account. I am in the process of having my bank account closed and a new one is already open.
Any help I can get? What should I do? Is that legal are they legal in CA?
Thanks
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shellieraygoza
Joined: 24 Jul 2008
Posts: 8
Debtcc Points: 134
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| Posted: Thu Aug 07, 2008 8:20 am Subject: |
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I've finally been able to get a release document for my loan and they are actually willing to send me some money back too. Try this email address: dfarnen@ltsmanagement.com
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thlovely1
Joined: 01 Aug 2008
Posts: 99
Debtcc Points: 947
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| Posted: Thu Aug 07, 2008 3:41 pm Subject: |
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Hi, I am in CA and also had a loan with them. they are illegal in fact the California Dept of Corporations has issued a cease and desist order against them on 7/27/07. You can go to the website for the California Department of Corporations and check it out. Go to the Enforcement tab and then click on Actions and look under L. Good Luck!
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momof1_1990
Joined: 31 Mar 2008
Posts: 95
Debtcc Points: 2043
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| Posted: Thu Aug 07, 2008 3:45 pm Subject: |
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Yes, I saw that I have been faxing, e-mailing, mailing that to them as well and they have not stopped with the calls and then the deduction. I have also sent the guidelines for California PDLs. If you don't mind me asking how long did it take you to get rid of them?
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shellieraygoza
Joined: 24 Jul 2008
Posts: 8
Debtcc Points: 134
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thlovely1
Joined: 01 Aug 2008
Posts: 99
Debtcc Points: 947
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| Posted: Fri Aug 08, 2008 7:16 am Subject: |
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I had a loan with them as well, I emailed their customer service as well as William Mashburn (wmashburn@ltsmanagement.com) and Brad Weathers (bweathers@lts.management.com)
This place knows they are illegal, if you get the right person, they will be quick to offer you a settlement and possibly a refund, though they put a lot of blah blah in there about how you agreed to the loan, ect, ect. But they don't want you filing a law suit against them. Try those two people and be sure to include the CA laws, and copy the cease and desist letter on the email as well. I worded somewhat this way:
"This is my 4th request for: Verification that you are licensed to lend in (Your state here), validation of debt, verification of all amounts paid by me either toward fees, or principle, a copy of the contract signed by me, cease and desist of all phone calls to my place of work, I am revoking all ach authorization, as well as any wage assignment I may or may not have signed. (Here's the part that gets them ready to settle)
Since you have been unwilling or unable to provide me the requested information, I will be filing a complaint with the BBB, the (your state here) State Attorney Generals office, and the FTC.
I am requesting this account be marked paid in full and a refund in the amount of ($$$) for what I have overpaid on the principal of this loan"
Then I included the state laws and the cease and desist letter for Indiana.
I hope this helps
Jen
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jennifer_bailey75
Joined: 02 Jun 2008
Posts: 155
Debtcc Points: 1611
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| Posted: Fri Aug 08, 2008 2:40 pm Subject: |
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Hi, I sent the following to them on April 23, 2008 April 13, 2008
Thank you for corresponding with me in writing. I am attaching my first response to your letter. While doing additional research about California State law I also found Desist and Refrain orders filed againt your company long before I took out this loan. I will be reporting to the California Department of Corporations that you continue to do business in this state. Please see below for my letter previously sent to you.
and received a response from a William Mashburn on April 24, 2008 saying that I did not owe them any more money and they would consider my account PIF if I would sign a relaes form and send it back to them. Which I did and that was it for them. Good luck!!!!
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momof1_1990
Joined: 31 Mar 2008
Posts: 95
Debtcc Points: 2043
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| Posted: Mon Dec 22, 2008 8:12 am Subject: HELP |
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Hi, I had a loan with this company as well. However, I fail into default because I was unable to make my first payment. It is now Dec.22,2008 I just emailed them to see if they would let me pay the 260 in full. The account number they had has been closed. Thank you all for your posting, as I am sure the information I have read will be useful in the upcoming months.
I did notice they never sent me an email with my loan terms.
I emailed them twice and they finally sent them. However, I have not heard from them since. How do I go about finding there info. that states they are illiegal.
_________________
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baddebit
Guest
Debtcc Points: 100
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| Posted: Mon Dec 22, 2008 8:41 am Subject: |
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Baddebit you have to contact your states DFI to check and see. They will tell you if they are legal or not. Chances are they probably aren't.
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beli2005
Joined: 17 Nov 2008
Posts: 181
Debtcc Points: 1341
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