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Posted: Thu Jul 13, 2006 1:38 pm Subject: Rio Resources Response

Well, I just got in from work and there is an email in my box fromm Rio Resources.... They want to skip the final 30 in interest and have me pay the final 100 in principle....lol.......I have paid 200 in principal and 570 in extension/finance charges. This is not acceptable, I ahve paid more than enough, they got their 300 back and then some. I am going to counter with makring the loan paid in full and no refund. I talked to the AG's office on my lunch break today. They agreed, the company is operating outside of the Code of law of virginia, especially with regard to lending money to a resident of the commonwealth without a liscense. They suggested that if they asked for any more money to counter nwith an agreement of paid in full/no refund.....and if that was not good enough for them, let them try to take me to court, the AG office would love to be there to ask several questions. So I am going to write the response to Rio Resources now.

Posted: Thu Jul 13, 2006 1:44 pm Subject:

Good for you! Don't back down. There is no reason for you to pay the extra $100.

Posted: Thu Jul 13, 2006 1:49 pm Subject:

That's good enough. You have the legal backing from your AG's office. Guess, how companies like Rio Resources want to make money so easily. Keep on disputing with them until they accept what is legitimate. Do they think that money grows in the trees and in the debtor's garden? If so, we would never have been in debt. LOL

Posted: Thu Jul 13, 2006 1:57 pm Subject:

I am dealing with Rio Resources also. I had a loan in my name with them, sent them a letter asking for a refund, and with a week I had the check from them. My husband also had a loan with them, a $300.00 loan that we have paid a total of $830.00 to them on. I sent a letter asking for a refund on this loan, and they sent me an email back saying that they would "settle" with him for $100.00. Settle for $100.00 after already debiting $830.00? Boy, I should just jump all over that! Just makes you wonder why they would issue a refund so quickly on one loan, yet demand payment on the other.

Posted: Thu Jul 13, 2006 2:07 pm Subject:

Rio is incredible..I guess they ran out of "refund money". Keep at them, you don't need to pay another dime...I'd say you more than overpaid them already!

Posted: Thu Jul 13, 2006 2:07 pm Subject:

I think its an automated response on their part. The Ag's office said they would love the opportunity to talk to a representative of theirs.

Posted: Thu Jul 13, 2006 2:09 pm Subject:

I posted the main set of the state laws again after I had put this in the response to them.

To Whom it may concern:

Thank you for your attention in this matter, however the proposal is not acceptable. I will make a counter offer of Marking the account Paid in Full without any refund of fees/interest charges being sent back to me. After the first 24 hours had lapsed, I emailed a copy of the original emailedI sent you to the Commonwealth of Virginia's Attorney Generals Office and to the Bureau of Financial Institutions. I called and discussed the matter with them today and they agreed with my concerns. I am to follow up with them on any offer or settlement that we agree to. You have recieved 200 in principle and 570 in finances charges....for a total of 770 dollars so far from my bank account...the legal amount according to the Attorney General's office is 45 dollars (15 per hundred) and no extension/rollovers.

I have listed the primary codes again and will be emaling a copy of this to the Ag's office. Once again , I am willing to meet you halfway and call the account settled and Marked "Paid in full" since you have already received 770.00. If you are willing and that is acceptable please let me know and I will update my records and will promptly notify their office as well.

Posted: Thu Jul 13, 2006 2:13 pm Subject:

another interesting thing...this is the email it came from

compliancedepartment @cashadvancenetwork.com

not compliancedepartment @rioresourcesllc.com

Posted: Thu Jul 13, 2006 2:16 pm Subject:

What has cash advance network merged with them also. Last time I knew cash advance network had their license revoked do to not giving proper information to the State of New Mexico regarding their business and they were giving false office addresses.

Posted: Thu Jul 13, 2006 2:18 pm Subject:

I don't know if they have or not but in the copy I sent to the Ag's office a few minutes ago I brought the 2 different email addresses to their attention as well.

Posted: Thu Jul 13, 2006 2:51 pm Subject:

I think I remember reading that One Click Cash, United Cash Loans, and ameriloan are all under Rio Resources too... At any rate, keep at them. I had to email them a couple of times--finally I emailed them proof of how much I had given them. They totally refused to give me a refund, but did mark my account paid in full. Good luck!!

Mel · Posted: Sat Jul 15, 2006 3:46 am Subject: OneClickCash

Do you know how to get a hold of them? I need to tell them to debit the whole amount but I can't find a contact number and they aren't responding to my emails. Please send me any contact #'s you have for One Click Cash. Thanks!

email address removed per forum rules. Tammy]

Posted: Sat Jul 15, 2006 6:54 am Subject:

Be very careful when you tell them to debit the whole amount...Their idea of whole amount and yours may be very very different.

Posted: Sun Jul 16, 2006 5:10 am Subject:

As of Sunday morning, I still haven't heard back from them on my counter-offer.

Posted: Mon Jul 17, 2006 7:12 am Subject:

I filed a complaint with the BBB against Rio Resources regarding my husband's loan, which was $300.00. We have already paid them $830.00 and they are "willing to settle" for the $100.00 in principal we still "owe them". Well, the BBB contacted them and their response was that my husband had taken out more than one loan with them, so he was well aware of their interest fees. I submitted a rebuttal, and they responded again with basically the same response. They informed the BBB that the account had been sent to an outside collection agency also. The BBB has marked the complaint as "closed", so I guess I will be getting no help there.

Posted: Mon Jul 17, 2006 7:43 am Subject:

Well I haven't heard back from 500 fast cash. I emailed them the letter last week again. Also United Cash who is 500 Fast Cash (Rio) didn't even send me an email yet. So I wonder if they are going to settle now. Should I email them some more?

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