Div. of Fin. Inst. said coudn't help me
Date: Sat, 10/07/2006 - 14:57
I have been dealing with PDL loans (3 of which were not licensed). I have paid enough interest on all three to pay the principal and more. I reported them to the AG's office, who referred the case to the Ohio Dept. of Commerce, Division of Financial Institutions. I told them that the companies were not licensed in Ohio and that I had paid more than the principal in fees and that I wanted them to mark the accounts Paid in Full.
This is the letter I got from the Division of Financial Institutions:
After reviewing the information regarding your complaint against XpressCash, the Division has determined we are without authority to investigate your complaint. XpressCash is not a financial institution licensed by the Division. We highly recommend that before you enter into financial relationships with lenders in the future, please consult the Division to discuss their licensure. As a licensing agency, the Division only has administrative authority over those entities that we license. Accordingly, the Division is closing its file on this matter.
What do I do now?
I mailed a template letter for PDLs from pollyandsay's blog two
I mailed a template letter for PDLs from pollyandsay's blog two days ago
I mailed a template letter for PDLs from pollyandsay's blog two
I mailed a template letter for PDLs from pollyandsay's blog two days ago
ok..Give it some time. The good news is, the AG's office obvious
ok..Give it some time. The good news is, the AG's office obviously thought enough of your complaint to refer you to the DOFI. Your complaint was aknowledged.
Thanks, finsfan13. I'll wait and see what happens.
Thanks, finsfan13. I'll wait and see what happens.
I've got my fingers crossed..By the way, I got a refund myself u
I've got my fingers crossed..By the way, I got a refund myself using that very same letter last spring. A lot of us here have been very successful with it.
That's what I'm hoping for. You guys have paved the way, so may
That's what I'm hoping for. You guys have paved the way, so maybe they'll just do it without waiting for a call. I'll let you know what happens. Thanks again.
The person I've been speaking with with the Fin. Division has to
The person I've been speaking with with the Fin. Division has told me they are compiling a file of all these complaints they are getting, please do not think that they are not going to do anything, they are looking carefully at what WV, MA, NY, CA, and NC are doing and are not ignoring these complaints and they are taking them seriously. Your complaint isn't being tossed aside. I'm surprised at Xpress Cash, they settled me as paid in full real fast.
My complaints were the first ones that they received. I don't wa
My complaints were the first ones that they received. I don't want you to give up, you can stand up to the pdls and have success like the others. I have also been writing representatives to draw attention to the matter, if we want to make a change we must take action.
Thanks, Steelers1. I am going to take yours and Finsfan13' advi
Thanks, Steelers1. I am going to take yours and Finsfan13' advise. I'm not giving up. I still have the number you gave me of the person that settled with you quickly. If I get another e-mail from XpressCash, I'll call him. I'll let you know what happened. Thanks, guys.
First, they said I had defaulted on my loan and they needed me t
First, they said I had defaulted on my loan and they needed me to contact them. I sent them an e-mail, stating I needed proof of the contract. That was on Sept. 25. They didn't get back to me until Oct. 2 at which time they said since they had not received any correspondence from me, they felt it would be in their client's best interest to recommend that they verify employemnt and proceed against me for the debt, after which I e-mailed them an abbreviated copy of the template letter against PDLs, asking for an address that I could get in touch with them at. Then on Oct 5, they sent a general flyer saying they were having an "Oktoberfest special" and that if I contacted them immediately, they might be able to forgive many of the fees and interest and only have me pay the principal (this is a loan that was originally for $300 that I had paid $540 total on).
In the letter I sent them a couple days ago, I did tell them I r
In the letter I sent them a couple days ago, I did tell them I revoke any wage assignments that I may have previously agreed to. I also sent a letter to my employer, instructing them not to honor any voluntary wage assignments.
Wow, it seems that things have changed since this past winter.
Wow, it seems that things have changed since this past winter. I handled all of my complaints through the consumer protection office in Ohio and it was very helpful to me. I contacted the division on different occassions and would get different answers to the same questions. I guess it depends on who you talk to but I was able to settle with the majority of my lenders on my own. Things will turn around for you. Keep us updated on your progres.
I think you are right Mishele, it depends on who you work and ta
I think you are right Mishele, it depends on who you work and talk with over there.
Thanks, Mishele. I'm rally grateful to you guys for paving the w
Thanks, Mishele. I'm rally grateful to you guys for paving the way. I'm hoping that since they've gotten so many letters from other people, they won't want to make waves and just go along with it. I'm not backing down, though. I just hope I don't have to go by the laws in their states. After the letter I received, I'm beginning to wonder.
It was signed Timothy C. Winslow, Staff Attorney, Office of Cons
It was signed Timothy C. Winslow, Staff Attorney, Office of Consumer Affairs.
I didn't get one from that man. I received a few phone calls fro
I didn't get one from that man. I received a few phone calls from somebody. I have his name written down. I'll have to look for my notes. And what this man told me was that they spent an entire afternoon having a meeting just on my internet pdls that day. He said they are going to contact the states I mentioned earlier and they are not going to just file these complaints away and they are taking them seriously. So I am sure your complaints went into this file he said they are starting. I did tell him that there would be more complaints coming in and he said they would place them with mine and continue working on a solution. Don't give up.
I didn't get that impression, though. This guy is telling me the
I didn't get that impression, though. This guy is telling me they can't do anything because these places weren't licensed, which is completely different from what the other guy told you. I wonder if it would help if I called the guy that you talked to?
dbaker, Which companies are you dealing with? Feel free to p
dbaker,
Which companies are you dealing with? Feel free to pm me and I can give you some of the contacts that I have at the division as well as the ag's office. Do a search for the Ohio Check Cashing Loan Act and that states the laws in Ohio. Do a search around the forum as well because I believe the laws for several states are around here somewhere. I would be more than happy to help you :) I have been told by several different ag's offices that the loan originates in the state of the consumer so that is what I believe myself. I know others here have been told the same things as well.
I am working on some additional complaints myself thanks to the
I am working on some additional complaints myself thanks to the references that Steelers 1 has given me, it's time Ohio had stricter laws regarding internet lenders.
I wish there was some way that we all could join together and fi
I wish there was some way that we all could join together and file a class action law against these pld companies. There collection tactics violate the fdcpa. They lie to you and make threats. I am just so tired of these people. They keep calling me at work after I have told them not to call me. Im furious.
arj800, Send them a certified letter with return receipt requ
arj800,
Send them a certified letter with return receipt requested asking them not to contact you at work anymore. If they do after this, then it is a violation of the law.
Hi Mishele. I just saw your posts today. I'll pm you. Tha
Hi Mishele.
I just saw your posts today. I'll pm you. Thanks!
dbaker... Also you can demand to file a formal complaint agains
dbaker...
Also you can demand to file a formal complaint against these companies for doing illegal lending business in Ohio...That may start something over at that Financial Affairs office, shame on them for turfing your request!
Thanks, Erzeke1. I can do that? Do you know which department w
Thanks, Erzeke1. I can do that? Do you know which department would I go through? That would be great. I was pretty put off with them for flicking me off like that. I really appreciate you guys!