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 Posted: Sat Dec 01, 2007 12:42 pm Subject: Help with Loanshop! They wont stop!
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In April I took a $300 loan with Loanshop. I have called their number and am put on hold for over an hour and get not get a live person. I have no record they ever sent me of this loan so I can't check any of the fees but to this date they have taken $180 a month out of my checking account. I have called my bank(BOA) and they told me sorry we can only do 2 months on ACH transactions it's a federal law. How can I get some of my money back if any or just make them stop! With overdraft fees this is killing me! Plus $180 x 8 months they are more than paid! I live in FL if that helps any. I can't find a website for them or an email address they have so many different names!
Thanks for any and all help!
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mstmadison
Joined: 01 Dec 2007
Posts: 1
Debtcc Points: 72
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Posted: Sat Dec 01, 2007 1:03 pm Subject:
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mstmadison:
Here is the contact information I have for Loan Shop:
The Loan Shop: PD6 Ventures/Express Cash
Phone: 800-859-6439 ext. 366
Fax: 800-853-7221
2756 N. Green Valley Pkwy
Suite 871
Henderson, NV 89014
I have filed compliant with the Florida AG's office on other pdl's that I had when I lived in Florida,but I did'nt have this one then, you can find that information on this site by doing a seach up top and I have filed a compiant with the BBB in NV.
Like most of the PDL's they have more than one location.
Also here is the Florida Law:
| Quote: | Legal Status: Legal
Citation:
Fl. Stat. Ann. ยง 560.401 et seq.; Rule 69V-560.901-912
Loan Terms:
Maximum Loan Amount: $500
Loan Term: 7-31 days
Maximum Finance Rate and Fees: 10% + verification fee
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: One
Rollovers Permitted: None (cannot rollover)
Cooling-off Period: 24 hours
Repayment Plan: Yes
Collection Limits:
Collection Fees: All charges imposed on the lender by any financial institution; lender not entitled to treble damages
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Florida Office of Financial Regulation
Address: Division of Securities and Finance, 200 E. Gaines Street Tallahassee FL 32399
Phone: (850) 410-9805
Fax: (850) 410-9748
Regulatory Contact: ,
Regulator Website
http://www.flofr.com/ |
David
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davidgreen367
Joined: 12 Nov 2007
Posts: 54
Debtcc Points: 1737
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Posted: Sat Dec 01, 2007 1:09 pm Subject:
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The way to get them to stop is to close the account. Sounds drastic but it is the only way.
File complaints as davidgreen as recommended and see what you can do to close the account. Here is some info to read prior to closing the account-
| Quote: | 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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volleyballmom
Debt Samaritan
Joined: 27 Aug 2007
Posts: 4178
Debtcc Points: 24893
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Posted: Mon Dec 03, 2007 7:13 am Subject:
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Yes, listen to volley! I just got a pif from them just be persistent, email and fax them all day long if you have to! Call and ask to speak with the manager, just keep bugging them, they will get it!
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jaydanielle1
Joined: 24 Oct 2007
Posts: 553
Debtcc Points: 5761
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Posted: Mon Dec 03, 2007 9:39 am Subject: Help with Loanshop! They wont stop
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I'm also dealing wiht them and no answer I have made complaints with bbb and my state ag office this is the email address i have customerservice(at)ltsmanagement.com
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katesia2002
Joined: 14 Nov 2007
Posts: 47
Debtcc Points: 1519
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Posted: Mon Dec 03, 2007 11:13 am Subject:
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have you overpaid kate?
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jaydanielle1
Joined: 24 Oct 2007
Posts: 553
Debtcc Points: 5761
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Posted: Mon Dec 03, 2007 12:03 pm Subject:
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kate- Jay is correct, be persistant and they will eventually answer, I received a PIF and a refund from them.
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TMBL
Joined: 11 Sep 2007
Posts: 115
Debtcc Points: 2226
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Posted: Mon Aug 04, 2008 11:53 am Subject: unable to get thru to customer service line
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Please inform me on how to get thru to the customer service line so that I can make arragemnets to pay the loan off. 
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shermanpaula48
Guest
Debtcc Points: 100
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