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Posted: Mon Nov 26, 2007 12:21 pm Subject: Loan Shop help

I just received a call from the Loan Shop out of Deleware. When I told them that the loan was illegal in Iowa he told me that the loan is legal in his state. First of all is that true. He also claims that it was a short term loan not a payday loan. The loan was for $200.00 and they claim I owe them $290.00. What is up with that. Any advice would be great. Thanks

Posted: Mon Nov 26, 2007 1:04 pm Subject: r

The Loan Shop? They are a pdl. Short term loan/pay day loan. Same thing. Who's he trying to fool? Yay for him if he says the "loan is legal in his state". You're not in "his" state. You apparently got a $200 loan and the "fee" is $90. So they're claiming you owe a total of $290. Have they begun debiting your account yet?

Posted: Mon Nov 26, 2007 2:03 pm Subject:

They have not debited my account because i closed it before they could. I also emailed them a letter that they claim they never received. They want me to money gram them the money because they would not give me an address to send the money to. I kept asking but he said they only take payment by ach. I told him i would not give him my account information. I really do not want to pay them the money except for the $200.00

Posted: Mon Nov 26, 2007 2:16 pm Subject: r

No. And do not. You only received $200 from them and that is all you should pay back. And, I personally also do not "do" money gram or western union. If they want their money badly enough, they will give you a physical address to mail the payments in to (via money order). You're correct not to give ANY bank information to them. As far as they are concerned, you don't even have a bank account. Let me see what kind of address I can find on them....

Posted: Mon Nov 26, 2007 2:17 pm Subject: r

Here. Use this address for the idiots.

The Loan Shop
2207 Concord Pike Suite 505
Wilmington, DE 19803

Posted: Mon Nov 26, 2007 2:22 pm Subject:

I am almost certain i mailed them a letter too becase you gave me the address once before. Have you dealt with them before. I have talked with you before. They are the 2nd ones to reply from the letters. MTE Financial was the first and they said i still owed them money even though i paid them $500.00 and only borrowed $300.00. They are all jokes.

Posted: Mon Nov 26, 2007 2:36 pm Subject: r

No, I do seem to remember talking to you before! Very Happy

Just keep sending the same letter (the one that states they are not licensed/legal, revokes everything, etc.) over and over and over again. When they reply to you with their hooey-bullcrap, send the letter again. They'll get tired of looking at it after awhile. Or just keep sending them a letter stating you will only pay xxx dollars - period. And only to a physical address - period. They will cooperate eventually once they see that you won't "bend". Hey, if these illegal people want their money back, they will give you an address to send it to. If they don't, I guess they can sit and wait until the cows come home. I personally think they're nuts. They're illegal, you want to give them money, but they won't take your money. How retarded is that?

Posted: Mon Nov 26, 2007 2:41 pm Subject:

They also told me i was fraudulent because i closed the account out so they could not get the money. Is this true. What happens if i don't pay them any money. I think they are full of it too. Just scare tactics i am sure, but i am not going to scare easily.

Posted: Mon Nov 26, 2007 2:49 pm Subject: r

Well, I've been told I have been turned over to "fraud" on numerous occassions! What a laugh! I've been "reported to the fraud department". Oh, please........ Laughing

You have not committed fraud. If this is indeed an unlicensed/illegal pdl, they have NO legal recourse to collect the money. They may turn you over to a collection agency (who will be just as "pleasant" as them); however, you can then send the collection agency a debt validation letter. They will not be able to validate an illegal debt.

Posted: Tue Nov 27, 2007 2:18 pm Subject:

I have tried over and over again to get ahold of the loan shop but I guess they don't want to respond because I also point out how I have over paid them by at least $500 and have requested a refund! I send them at least one email a week sometimes 2 and have not heard anything since I closed my bank account on 11/9. I have missed 2 payments wiht them as of now and have not had any type of response from them.

Posted: Tue Nov 27, 2007 2:20 pm Subject: r

Probably because the creeps know you've overpaid an outrageous amount of money! Keep emailing them. Hell, once a day should keep you in their mind. You need a refund from these illegal people.

Posted: Tue Nov 27, 2007 2:32 pm Subject:

Yeah, I figure if they can bug everyone else all the time I may step up my emails to once a day, trust me I have thought about it and probably will start tomorrw.

Posted: Tue Nov 27, 2007 2:40 pm Subject: r

tmb, you would not even believe how many times a day I would email my pdls in the beginning because they wouldn't respond to me. I'm talking 4 to 5 times a DAY. Still have every single one of them, too!

Posted: Tue Nov 27, 2007 2:48 pm Subject:

tmblasfser, I dealt with them also they are big idiots and they tried giving me a very hard time. But you know what I filed complaints with the BBB office and I finally got a Paid In Full Letter. Make sure you file those complaints and request a refund because you have overpaid them. Please keep us posted

Posted: Tue Nov 27, 2007 5:27 pm Subject: r

kate, were you owed a refund from them also?

Posted: Wed Nov 28, 2007 6:57 am Subject:

no refund cannr, they loaned me $300 and I paid them $305 so really no refund was due. The only ones I was able to get a $1000 refund from was Payday ok. They were very easy to work with.

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