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Posted: Thu Jun 14, 2007 11:49 am Subject: One Click Cash

Does anyone know anything about this company? Yesterday I emailed them wanting to know why I could not view my loan documents. They called today and told me it was due to mu loan being in default as of Monday (I put an ACH block on my account) They continue to tell me that I owe $424 on this loan that I took out on 5/21. I told them they must be mistaken I took this loan out a couple of months ago. Well I took a look at my bank records and I took the loan out on 4/24/07 for 250.00 since then I have made 3 payments of $75. What the heck? I asked them to please email me my loan documents and they told me they couldn't for my protection (They should have said for their protection) They said that they would send me a copy of their terms though. I need to know how to deal with this company.

Posted: Thu Jun 14, 2007 11:54 am Subject:

You can't get your loan documents, because they don't exsist. One Click Cash is a dba of MTE Financial, and if you search for them, you'll find that they are oh so much fun to deal with (sarcasm). The 3 payments that you have made are what they call "rollovers", since they automatically renew the loan until you hit the 5th payment, and then they start paying it down. However, please tell me what state you are in, and we can find the state laws for you so that you do arm yourself in your battle with this company.

Posted: Thu Jun 14, 2007 12:01 pm Subject:

I'm in Minnesota

Posted: Thu Jun 14, 2007 12:05 pm Subject:

What are the obligations a licensed lender should follow in MN?

Posted: Thu Jun 14, 2007 12:08 pm Subject:

So, I would send One Click Cash a letter, because they are in violation of the MN law, by rolling over the loan, as this is not allowed. Also, the legal amount of interest you can calcuate how much you still legally owe them. You can search for a template for a letter of what to send them, I'm not very good with that, but some others on the board, are. State these laws in your letter, and tell them that is what you will be paying them. DO NOT give out your new banking information, debit or credit card information. Pay by money order if possible. DO NOT give them anymore access to your financial information.

Posted: Thu Jun 14, 2007 12:11 pm Subject:

So anotherwards they have to follow MN laws right meaning that they are not allowed to roll over this loan and they have done so 3 times already and I already have paid $225. I'm not sure that I am understanding this right

Posted: Thu Jun 14, 2007 12:16 pm Subject:

Right, they have to follow MN laws, as you took the loan in MN. And, yes, you are correct that they are not allowed to rollover the loan, and the $225 you have paid, is to be applied to the principle, as they can't roll over the loan, and say that the fees you have paid is only applied to the interest. So, if you took the loan out for $250, legally, you only owe them $25 + 32.50 in interest, and $30 for the return check fee. So, you only still owe them: $87.50, legally. Does that make sense?

Posted: Thu Jun 14, 2007 12:20 pm Subject:

Yes it does to me- now is it going to make scence to them by the sounds of your sarcastic statement it's not going to be that easy. I appreciate your help for explaining this to me.

Posted: Thu Jun 14, 2007 12:25 pm Subject:

Oh, you are welcome. I'm not trying to scare you with dealing with them. I've had my share of crap from PDL's, and I'm just trying to help people know their rights. But, as long as you are armed with the knowledge, you are an informaed consumer, and you can do battle. Did you send a cease and desist letter? Also, I would say in your letter that if they refuse to acknowledge what you still legally owe them under the MN laws, that you will have no problem filing disputes with the BBB, the state attorney general of MN, as well as the state of Oklahoma's AG (where they are located). This usually scares them, as the state of Oklahoma ordered them to stop lending in OK, so legally they can't lend to anyone anywhere.

Posted: Thu Jun 14, 2007 12:30 pm Subject:

Leah, Goudah, does all of this sound right? I hope you are proud, you both helped me to be so knowledgeable to help others!

joca055@aol.com · Posted: Sat Sep 15, 2007 12:07 am Subject: CashClickOne

On 5/29/07 a credit of $300.00 was deposited into my bank account from CashClickOne and to this day I have never seen any loan documentation describing the terms of the loan. Here is a report of all of the money this "Company" has taken out of my bank account by way of ACH debits...

6/15/07 $90.00
6/29/07 $90.00
7/13/07 $90.00
7/31/07 $90.00
8/15/07 $90.00
8/15/07 $50.00
8/31/07 $75.00
8/31/07 $50.00
9/14/07 $50.00
9/14/07 $60.00 GRAND TOTAL TO DATE IS $735.00!!!!
I don't have any way to contact CashClickOne and the bank is of no help. Can someone help me out here? I live in California and I know that this is wayyyyyyyy to much repayment on a $300.00 loan....HELP PLEASE

Posted: Sat Sep 15, 2007 11:23 am Subject:

In MN they do not have a long arm statute. So in MN it is legal for companies to loan in MN as long as they are licensed in another state. They would need to follow the laws of that state.