FDIC to First Bank of Delaware, CEASE & DESIST

both of the posters above me are shills who can get lost.nobody but other shills/bobos/humanoids cares for your stupid opinion.buh-bye.

I have had several loans with First Bank of Delaware and have been perfectly happy with them. I simply make sure I pay off the loan before it is actually due to save on all that interest rate. I just heard they are no longer offering loans. I was hoping to pay off my 800 from a 1600 loan and ask for a new one, but I'll just wait and see what happens.

Great POST! i love it.

I totally agree with you. It's the ones that take the cash and run that make it hard for the rest of us to take advantage of these longer term pay day loans.

I myself have taken out three loans in the last three years and I did not realize that they reported my good credit. I was going to pay off my existing loan and take out another, but I found out they are not offering them for now. Oh well, hopefully they can get back in the business so those of us that use loans responsibly can get back on the right track to good credit.

Lets just have a happy borrowing party! All one of you two and your wonderful bank that you work for..

Yes, I too found that out recently. Still going to pay my loan off a little early so that I don't get the full finance charge but definitely hoping they get other lenders soon.

Interesting to see the "moderator's response" to those of us who actually had decent experiences. Sorry, this will probably be my last post because I didn't realize that this forum was only for haters. It's sad that all people can do is sit around and point the blame for their own eff ups. Get out of your mother's basement and pay your own bills. Haha

Good luck everyone... looking forward to good news for Thinkcash.

please keep your word as again a complete shill.the "pay your bills"line gave you away.love how a little tweaking and you reveal your true colors.btw just because by the techincality of a CSO or installment loan is legal doesn't make it right.again keep your word and don't post again.

"Sorry, this will probably be my last post because I didn't realize that this forum was only for haters." - Why do you think the forum is called Payday Loan Help then? And if you are so happy and didn't need PDL HELP, then why the heck are you even on here posting??? Can you not read? And by the way, you don't have a clue about my situation, and I don't appreciate your insinuations! Like Paul said, don't post again - please! You're nothing but fuel in my fire right now...

I to used think cash, it was a great help to me, and I would recommend THINKCASH.COM to the world. I hate they are no longer, there to lend a loan, so to you haters get into reality you will need them again one day soon as you think. Do any one no of another company that lends like think cash, please let me no

We are not here to advocate using payday loans. If you insist on using payday companies, do an internet search. None of the moderators here will recommend any.

Yes, they told me the same thing and I manage to save $400. They took my settlement offer!!

i know i went threw think cash which their lender was bank of Delaware..i've been a customer for 3 yrs now..take 4 loans out and always payed them back their interest is high, but that comes with the territory...now i recently went back to the site and their not doing loans with them anymore their waiting on a another lender.
just and F.Y.I. i've been a collector 10 years now, and just recently in my office- well law firm now we are handling First Bank of Delaware..and many ppl i call are so rude dont care that they took out these loan saying their high in intrest, some just took the loan and never made the first payment! anyways thats sucks cause the ppl who really paid these loan s back and need it cant now!

Please don't take this the wrong way.........whomever.

The FBD and Thinkcash relationship came ot an end because of regulatory scrutiny. Basically FBD and Thinkcash were in violation of a few regulatory rules and laws and the Federal Regulators shut it (the product) down. The term "payday" loan cannot be used when dealing with Regulators, and FBD could not persuade them that they were offering anything different.

To avoid the costly fines, it was in Thinkcash's best interest to terminate the relationship, as if you do some research, you can see what happened to Compucredit's products with FBD and who bore the financial responsibility of all fines. While you may not see the contractual wording, let's just say that FBD bares no responsibility and these "partners" enter into these agreements and get stuck in the end holding the goods.

Why did the regulators shut it down? Well, as an insider, all I will say is that products are offered well before they have really been reviewed, and by the time the regultors come in and review, it's too late. All of these issues and then you add in a Bank FBD) that went through similar actions the prior year with cancelling all their credit cards issued by CompuCredit, then you understand just how many eyes were really on the Bank.

The Bank offers some new products via debit card, but be AWARE of what you are signing up for and remember NOTHING is for free.

If I can address one post: The Bank knows that people will apply and never make the first payment, which is why they establish a reserve for loan loss, but in the end other applicants pay for these losses in the form of fees, higher rates, etc.

Advice: If you ever do find another payday loan, before you sign, read everything, but more importanty NEGOTIATE. Banks recognize returning customers, loyal customers that pay on time and in full, and have a positive track record. You'd be surprised at how many people just accept the terms and sign. Think of it like a car, you negotiate that car payment, so why not negotiate that payday loan payment?

Those with Balances, if you are in a position financially to pay -off your balance, call in and see if they will negotiate a settlement. Why make 5 payments of $200, if they will accept $600 - $700 in full, close your account out, and report to agencies positively?

So,

I am confused as what is actually going on here.

Is ThinkCash / FBD legal in PA. They are showing on my Transunion credit report as being in collections for way more than the original loan.

Since you are an "insider" what were the regulations that they were breaking? If they were shut down, where is the advisory from the FDIC?

i think the bottom line here is that there are alot of Legal products out there that charge alot of money. While some people may think it is unfair and unjust - that is the way it is - why can gas companies raise their rates to what they are today - do you think it cost more money - no - they can because it is legal to do. If you don't want the product - don't use it - yes, come back and say i work for them and you are wrong. I'm just logical and have been able to get out of it by saving and using it wisely

In my opinion this company Think Cash Check and Go or any other check advance company is a modern day version of Loan Sharks, plus they release your bank account information to 3rd party companies, which rob your account and leave you to pay for overdrafts and unwanted or unrequested services...I wont give them another dime...