FDIC to First Bank of Delaware, CEASE & DESIST

I have a loan with Check N Go also that I defaulted on. I have not heard from them in a long time. Who is their collection agency? Does that law apply to PA residents?

I would suggest you walk to work or eat grass before you get into that trap. Don't do it.

Son applied for loan 11-09, on 11-30 they deducted 149.95 from checking; that was their 1st transaction. It has snowballed of course, this amount is on statement 4x and appfee 5x, statement ending 12-17. The description of party making charges is call commonwth, even though 1st bank of delaware was original bank. Does anyone have this company on their statements?

I applied for a loan through The First Bank Of Delaware and one week i was approved but the money got deposited in the wrong account and the next week when they went to put my money in my account now that are saying i am not approved for a loan any more...Any time i have called the people are incredibly rude and unprofessional. I will NEVER do business with them again. I do not recommend them to anyone.

did you ever receive this money? is there a way for your bank to reverse it back to them? it might be in your best interest..

i just took a loan with first bank of delaware for 500 and want to pay it off before due date but i dont want to still pay an outrageous balance.

We were told by a lawyer to close our checking account and reopen a new one. Then get an address and send a cease and desist letter. so far that has worked. but this morning at 7 am they started calling us. So I'll be back at the lawyers monday and maybe have to change our numbers. Good luck

Hi,

Check n Go is a source of fast cash(pay day loan company).Please call the toll free no 1-800-561-cash and confirm as to who is their collection agency .The law applies only to some cities of PA.please check the link to get more info...http://www.checkngo.com/

Is First Bank of Delaware real?

sure ... a real ripoff

"it's called interest. Check your loan contract . You're paying 90% interest

http://banking.mt.gov/enforcement/fi...ofdelaware.pdf

This site is great with a wealth of information, I just found it too late! I wish I had checked on this before I made my payday loans. I borrowed $500 from thinkcash/first bank of delaware and they have been taking payments from my checking account for a couple of months. I have paid about $160.00 over the principal amount to date with an ACH scheduled for next week. My assumption was that they were a legitimate lender being that they were call a "bank", should I send a letter to them and refuse to have them debit anymore payments from my account?

Let me try and answer some of your questions and concerns, being that I had some relations with the Bank.

1. First Bank of Delaware is a DE chartered Bank with two branches in the sate of the Delaware, and offices in PA and DE. Let me clear something, The Bank is the issuer of the card with private investors that fund the balances, marketing agencies that market the loans and a host of other organizations outside the Bank performing functions such as credit decisioning, customer service, collections, Plastic/Card Issuer. Now after all of these people get paid off that 400%, the Bank sees what is left, in addition to app fees.
2. These loans that are being offered are really not for long term use. The 365% (for example) is basically broken down to 1% for every day you keep the money over a 12-month period, hence 365 days. So the earlier you pay your balance off, the less interest you pay and vice versa, the longer you take, the more your payments will go to interest than principal.
3. When you stop paying, basically you are defaulting on your loan. If you read your agreement, it discloses the # of payments and due dates, all of which, you agreed to upon submitting the application, accepting electronic communication, and having the funds deposited into your account.
4. There really is no need to obtain an attorney, as once you accept the terms of the agreement you have entered into a contract to re-pay the funds at the stated interest rate. The company gets so many people getting attorneys, but what they are telling you, just prolongs the inevitable, they will stop withdrawing funds from a closed account, but now your credit messed up and the Bank can possibly place a judgment against you or report on your credit as a defaulted account.
6. Just because you default on a loan does not mean you do not have to pay it, as it is sitting on some system as a write-off. Typically, delinquent accounts are written off at 180 days, but remain as write-offs on the system. I would contact the Bank issuing the card and see if they offer a settlement. A Settlement could be as little at 25% of the remaining balance or whatever they feel is reasonable. Remember some money is better than no money to these Banks.

I think all of you people complaining are the perpetuating the stereotype and reason for why lenders don't want to help people with bad credit. There is nothing wrong with Cashcall or FBD/Thinkcash... you retards just need to learn how to read stuff before you agree to it. They even go out of their way to tell you that you are going to pay higher interest than traditional loans and that it's not suggested for long term use.

I myself have used Cashcall once and Thinkcash 3 times... prefer Thinkcash formerly FBDloans. Just because it says you can take 6-12 months to pay it off doesn't mean you should actually take the whole period. I've taken 3 loans and paid them off extremely early... all within the past 5 months and it helped me improve my credit in order to get a car loan and credit cards from reputable banks.

I hope Thinkcash can find other lenders so they can keep running... they give responsible people with lower credit scores the opportunity to redeem themselves just like anyone else in this money hungry country deserves.

Here's a suggestion... stop blaming the banks/lenders because you decided to take their money and split. Be accountable for your own actions and stupidity.

Totally Agree - they have helped me when my bank wouldn't - i paid them early and it was fair.