Payday Loan help

Quickclickloans.com - Is it a trap?

Quickclickloans.com is a licensed finance company offering consumer loans to people in various states. People often receive pre-approved emails from Quickclickloans.com. The email said that the recipients were offered loans at a high rate of interest, a probable reason why people have been complaining about this company. One more reason why the company has become unpopular is their unethical marketing strategy by which they are forcing people to take loans by sending pre-approved loan offers to their contact address. Since Quickclickloans.com is state licensed, it should be charging interest rate as per the rules of the state. But they aren't doing so. This may be better understood by the following incident.

Scenario:
A person had received a mail stating that the company (Quickclickloans.com) had agreed to lend as much as USD$3,500. The rate of interest was 96% and the repayment could be made in 24 installments. The person had to pay USD$278.88 every month. This takes the total amount of repayment to USD$6693. The funniest part is the person had never applied for any loan from this company.

Why is not Quickclickloans.com charging interest rate fixed as per State laws?
Since some of the states in the US do not have any rate cap on installment loans, Quickclickloans.com may have charged interest rate as they wished.

From where did the company get contact details of consumers?
Many are of the opinion that the company buys contact details of people from the credit bureaus and sends mails to those people.

Company details in brief

The maximum time for which they offer loan is 36 months.
The denominations of loan amount offered include USD$3500, USD$3000, USD$2600, USD$2500, USD$2100, USD$2000, USD$1500 and USD$1100.
The first payment is required to be made 37-40 days from the time the loans have been approved.
The company offers consumer loan programs in various states. Norms may differ from one state to another.
The loans are usually offered to people in different states having a fairly good credit history.
They are legally regulated as well as licensed.
The different states in, which the company operates include - California, Alabama, Idaho, Delaware, Missouri, Montana, Illinois, Wisconsin, South Dakota, Utah, New Hampshire and Georgia.

Contact details of Quickclickloans
If you are facing any problem while dealing with Quickclickloans, you may contact the company at the address below.

Quickclickloans
P.O Box 5040 Alpharetta, GA 30023
Phone: 1-877-90-QUICK / 1-877-907-8425

Sponsored Form

Fill out the form and get free debt counseling

100% privacy

Secure Form

What happens after signup?

Ask question on this topic
Name
Subject
Message

Message

Author

Posted: Tue Jul 31, 2007 5:32 pm Post subject: Quickclickloans.com - Is it a trap?

They're now sending pre-approvals through the mail. I just opened my mailbox and there was a pre-approval letter (addressed specifically to me, not just current resident) from QuickClickLoans.com for up to $3,500. Interest rate of 96%. 24 payments of $278.88 = $6693 payback. THE SCARY THING is that I went to my state's website, AND THE PLACE IS LICENSED (in Illinois at least). The FAQ on their website says "QuickClick Loans is currently available in the State(s) of Alabama, California, Delaware, Georgia, Idaho, Illinois, Montana, Nevada, New Hampshire, Missouri, Utah, and Wisconsin. For additional states, please check back soon." "Is QuickClick Loans licensed? Yes. We are licensed as a lender in all states in which we offer QuickClick Loans (except Alabama and Georgia where no license is required)." SO BEWARE!!!!!!!!!!! This place appears legal and they could probably sue you if you don't keep up with the payments. I just wonder where they got my name and address at???

DebtCruncher
Moderator

Joined: 07 Nov 2006
Posts: 1553

Debtcc Points: 17497

Posted: Tue Jul 31, 2007 5:36 pm Post subject:

Wow...the sad thing is that someone will get caught up in the trap of this company as well and will actually be legally responsible for paying them back. I am soooo glad I found you guys and am getting OUT of the cycle. It feels great to know that our checks are OURS again! _________________ bflow30

bflow30

Joined: 15 Jun 2007
Posts: 521

Debtcc Points: 8284

Posted: Tue Jul 31, 2007 6:53 pm Post subject:

Wow that's alot of money. A month ago I may have agreed to it thanks to this website I would never!! That's crazy!!

cynthiaw4

Joined: 23 Jul 2007
Posts: 90

Debtcc Points: 1712

Posted: Tue Jul 31, 2007 7:18 pm Post subject: quickclick

What? You got this in the mail? To your name? Oh my God! Another pdl tactic? One that you may have had before and now they're soliciting through the mail as this "loan" place? Oh my God. These places never cease to amaze me. Oh. Then why am I in shock again? This stuff is getting crazier every single day. Thank God you guys post all this stuff. A warning for everyone.

cannr
Moderator

Joined: 07 Jun 2007
Posts: 9374

Debtcc Points: 124815

Posted: Tue Jul 31, 2007 7:28 pm Post subject:

Oh, I will guarantee you that I would have considered it...before WAKING UP!!! I am so thankful each day for all of the posts here...otherwise, I would probably be deeper than I am. _________________ bflow30

bflow30

Joined: 15 Jun 2007
Posts: 521

Debtcc Points: 8284

Posted: Tue Jul 31, 2007 7:33 pm Post subject:

How can they be licensed and legal and still charging interest at such a high point again ?? I thought if they were licensed by a state they had to use the % allowed by that state?? _________________ If you think you can, you can...if you think you can't, your probably right... http://lifewithyourcredit.yesdebtfree.org/

Morningstarr430
Debt Samaritan

Joined: 13 Jun 2007
Posts: 2337

Debtcc Points: 39294

Posted: Tue Jul 31, 2007 7:35 pm Post subject:

That is so correct. They should have to follow the % allowed by each state they are lending in, correct? _________________ bflow30

bflow30

Joined: 15 Jun 2007
Posts: 521

Debtcc Points: 8284

Posted: Wed Aug 01, 2007 5:50 am Post subject:

This place is not doing "payday loans" by my state's definition (since the term is longer than 120 days). Rather it would be considered an installment loan. The license they have with my state lets them charge whatever interest rate a customer agrees to, as there is no rate cap in Illinois on installment loans. They must be buying up lists of names from the credit bureaus, because I've never had a payday loan before -- ie they didn't mail this to me for being a previous customer.

DebtCruncher
Moderator

Joined: 07 Nov 2006
Posts: 1553

Debtcc Points: 17497

Posted: Thu Aug 02, 2007 8:22 pm Post subject: quickclickloans

so are you saying that they are not legitimate so they cannot loan out any money, i live in georgia.

rozzie1
Guest

Debtcc Points: 100

Posted: Fri Aug 03, 2007 6:56 am Post subject:

This place is exactly like Cash Call. They are backed by a bank, so per federal law they can import the interest rates. They used to operate in Oregon, and they are just as nasty as Cash Call if you defualt. They will send you letters stating they are getting ready to sue when you are only 30 days late on a payment.

goudah2424
Moderator

Joined: 31 Oct 2006
Posts: 8007

Debtcc Points: 111631

Posted: Fri Aug 03, 2007 7:07 am Post subject:

Bflow-doesn't it feel wonderful to have control of our money again? I was just thinking about that this morning, with my last paycheck I was able to actually pay my bills, and have a little left over to do shopping! I haven't felt that in MONTHS!

JEN5276

JEN5276

Joined: 31 May 2007
Posts: 394

Debtcc Points: 7005

Posted: Mon Aug 13, 2007 1:58 pm Post subject: quick click loans can go to @@@@

i got one in the mail today and i asked a question through there contact things, called and got a customer service person and because i asked so many questions she hung up on me... I was triing to talk to her boss..