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Update - One Click Cash - I am doing the happy dance
Wanted 2 give u a heads up on my letter to One Click Cash and the outcome. First of all I reside in OH and I formally filed a complaint with One Click Cash with the AG office. I sent them a letter 9/22/06 and resent it today. Granted its just one of many pdl's I am battling but its a start that has had a positive outcome. Thank you all for your help. :D
Below is a copy of the letter:
Preferred Cash Loans dba One Click Cash
2533 N Carson St, Ste 5024
Carson City, NV 89706
Phone: (800) 230-3266
Fax: (800) 803-9136
Account Number: xxxxxxxxxxx
To Whom It May Concern:
As of today September 22, 2006 I do not authorize Preferred Cash Loans dba One Click Cash, nor any representative, parent company, affiliate, or subsidiary of Preferred Cash Loans dba One Click Cash, to withdraw any funds from the checking account under the name of xxxxxxx account number xxxxxxx, located at xxxxxxx. I hereby revoke your right to use the wage assignment no such permission was granted or signed.
Your company is in violation of Ohio Revised Code Ann Section 1321.02. License; exceptions and Ohio Consumer Protection Law 1345.03 by committing "Unconscionable consumer practices".
1321.02. License; exceptions.
No person shall engage in the business of lending money, credit, or choses in action in amounts of five thousand dollars or less, or exact, contract for, or receive, directly or indirectly, on or in connection with any such loan, any interest and charges that in the aggregate are greater than the interest and charges that the lender would be permitted to charge for a loan of money if the lender were not a licensee, without first having obtained a license from the division of financial institutions under sections 1321.01 to 1321.19 of the Revised Code.
Sections 1321.01 to 1321.19 of the Revised Code do not apply to any person doing business under and as permitted by any law of this state, another state, or the United States relating to banks, savings banks, savings societies, trust companies, credit unions, savings and loan associations substantially all the business of which is confined to loans on real estate mortgages and evidences of their own indebtedness; to registrants conducting business pursuant to sections 1321.51 to 1321.60 of the Revised Code; to licensees conducting business pursuant to sections 1321.71 to 1321.83 of the Revised Code; to licensees doing business pursuant to sections 1315.35 to 1315.44 of the Revised Code; or to any entity who is licensed pursuant to Title XXXIX of the Revised Code, who makes advances or loans to any person who is licensed to sell insurance pursuant to that Title, and who is authorized in writing by that entity to sell insurance. No person engaged in the business of selling tangible goods or services related thereto may receive or retain a license under sections 1321.01 to 1321.19 of the Revised Code for such place of business.
The first paragraph of this section applies to any person, who by any device, subterfuge, or pretense, charges, contracts for, or receives greater interest, consideration, or charges than that authorized by this section for any such loan or use of money or for any such loan, use, or sale of credit, or who for a fee or any manner of compensation arranges or offers to find or arrange for another person to make any such loan, use, or sale of credit. This section does not preclude the acquiring, directly or indirectly, by purchase or discount, of a bona fide obligation for goods or services when such obligation is payable directly to the person who provided the goods or services.
Any contract of loan in the making or collection of which an act is done by the lender that violates this section is void and the lender has no right to collect, receive, or retain any principal, interest, or charges.
Ohio State Information
Legal Status: Legal (Applies to check cashers only)
Ohio Rev. Code Ann. Ã‚Â§Ã‚Â§ 1315.35 et seq.
Maximum Loan Amount: $800
Loan Term: Max: 6 months
Maximum Finance Rate and Fees: $10/$100 + 5% per month
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot refinance)
Collection Fees: Bank charges (if disclosed); $20 collection charge; Court Costs; damages
Criminal Action: Not Specified
Where to Complain, Get Information:
Regulator: Ohio Division of Financial Institutions
Address: 77 South High Street, 21st Floor Columbus, OH 43215
Phone: (614) 728-8400
Regulatory Contact: Robert M. Grieser,, Deputy Superintendent for Consumer Finance
Your claim that the contract I signed is only governed by the law in which your company resides is unsubstantiated. Your company solicited, accepted, and transacted business with a citizen of Ohio. Thus you are subject to the laws of this state.
I am offering Preferred Cash Loans dba One Click Cash an opportunity to settle this account. To date I have paid a total of $735 on a $300 payday loan with your company with a $90 fee.
Preferred Cash Loans dba One Click Cash has charged my account $90 every two weeks and since Ohio law only allows a maximum of $55 to be charged on a $300 payday loan. I was able to go back with my online bank account to verify the information. The fee being charges is more than the $55 allowed by Ohio State Statutes.
- Reference Ohio Department of Commerce Division of Financial Institutions
Office of Consumer Affairs Ã¢â‚¬Å“Payday LoansÃ¢â‚¬Â
I reside in Ohio, and have for the entire course of the loans IÃ¢â‚¬â„¢ve received from you. My instinct is to charge Preferred Cash Loans dba One Click Cash for the finance charges incurred over the course of my loans.
However, I am willing to forgo the money I feel I am owed if Preferred Cash Loans dba One Click Cash ceases to charge my bank account and is willing to zero out my current loan. Thus, I am expecting Preferred Cash Loans dba One Click Cash to mark the account paid under the name xxxxx Ã¢â‚¬Å“paid in fullÃ¢â‚¬Â.
All telephone communication to my home or place of employment, and references are to cease and desist. All correspondence as of today shall be in written form through e-mail or written letter through the United States Postal Service.
At no time will Preferred Cash Loans dba One Click Cash any representative, parent company, subsidiary, or affiliate of Preferred Cash Loans dba One Click Cash, place any derogatory mark on my credit report with any credit bureau, nor any other check writing database, such as Teletrack or an equivalent database. If Preferred Cash Loans dba One Click Cash does not abide to the settlement conditions stated above, I will have no choice but to file a civil suit against Preferred Cash Loans dba One Click Cash for the monetary damages that I am entitled to per Ohio.
I would like to thank you in advance for your prompt attention and cooperation in the matter. I would also like a reply concerning this letter and my account prior to September 30, 2006.
Please be advised that a formal complaint has been filed with the Ohio Attorney General's Office on September 21, 2006.
The response I received from them today....
[quote]From: OneClickCash Compliance Department [mailto:firstname.lastname@example.org]
Sent: Monday, September 25, 2006 2:48 PM
Subject: Account Inquiry
One Click Cash
52946 Highway 12
Niobrara, NE 68760
One Click Cash Account: xxxxxx
Our department was forwarded concerns regarding the account named above. We have researched the account and have found the terms and conditions of the agreement were accessible from the website and after application with the password which was supplied. We also offer a chance to cancel the agreement within 48 hours without any fee being charged to the customer. An account summary was also supplied before each debit that explained the choices for repayment and another summation of our terms.
We do believe we have met all the terms and conditions that were presented at the outset of this loan, but we do wish to provide a high degree of customer service, so we are zeroing out the remaining balance on your account. This is being done as the initial deposit made to your account has been met with debits already previously paid.
*****THIS OFFER IS CONTINGENT THAT NO OTHER DEBITS WILL BE RETURNED BY YOUR BANK THAT HAVE ALREADY BEEN PAID******
Your account balance is now zero and the account closed. Your information will be barred from any future business with One Click Cash or any of our affiliated companies.
One Click Cash Compliance Department
The preceding electronic mail messages ("e-mail") and any attachments contain information that may be confidential, legally privileged, and/or contain nonpublic personal information about consumers subject to the restrictions of the Gramm-Leach-Bliley Act. You may not directly or indirectly reuse or redisclose such information for any purpose other than to provide the services for which you are receiving the information. Unauthorized interception of e-mail is a violation of federal criminal law. If you are not the intended recipient of this e-mail, you may not read, disclose, print, copy, or disseminate the information contained herein. In the event that you have received this e-mail in error, please reply to the sender of the e-mail only and delete the original and all copies of this transmission (including any attachments) without reading or saving in any manner.