Rio resources/mte financial ordered to stop lending!!!!

I would love to hear you sing some Bette Middler tunes Chuckles.

Chuckles clearing throat, getting ready to serenade Steelers1, "Some say love it is a river"

Chuckles, if Texas is getting on your nerves my recommendation is therapy and medication, my friend. Texas is providing valuable information to the forum and has been doing it for a long time. Your opinions are hurtful and are not serving any purpose on this forum.

Chuckles' opinions are merely that - opinions. Just like mine, yours, and everyone else's that posts on these forums. Unless he becomes abusive, threatening, or obscene, his posts remain just that - posts of one member's opinion, and as such, will not be deleted or edited for content.

hehehe........my hunch paid out.

I am NOT Chuckles you moron! What type of paranoia are you dealing with anyways? You are full of alot of stuff, which I can not post. Once again, MORON, I am NOT Chuckles. Laugh that one up.

I think you better keep your day job and quit trying to be Dick Tracy. It doesn't look like it is working out for you.

Steelers, who said you are chuckles? Are you? LMFAO!!! That's not your M.O...

No, Mr. Texas doesn't know me at all. If he did, he would know I will tell somebody what I think of them and not care. He is a moronic idiot who thinks he is some type of spy or detective. He should consider getting out of the business it isnt "paying off".

Steelers,

I don't think you are Chuckles nor does anyone else here with any common sense. We know the good that you have done for this forum. Please calm down and don't let others get under your skin. I hate to say it but I have been LMFAO at some of Chuckles posts.

Thanks Mishele. I have been getting a kick out of Chuckles myself and hope to see them return.

Today i received an email from ameriloan stating that i needed to refer to my contract (which they won't provide me a copy of) stating that they do not have to abide by KY law (referring to Kentucky Rev. Stat. Ann. ???? 368.010 et seq. laws: Maximum Finance Rate and Fees: $15 per $100 Finance Charge for 14-day). I have already placed a complain with the KY attorney general and KY office of financial institutions. What should be my next step? I've offered to pay the principle that I owe ($120) which is the balance after I've subtracted all the overcharges in finance fees. They denied my offer. Please help.

Chuckles doesn't need therapy or medication. Chuckles of sound mind :wink: Chuckles didn't meant to upset Steelers1. Chuckles apologizes to Steelers1 and asks for forgivessness :oops: Chuckles looks at texasconsumer and states "Put up your dukes,bud". Chuckles thinks texasconsumer needs a phsychiatrist and QUICK!! :?

Steelers, If you are chuckles then you have a split personality. LMAO. Chuckles has been getting the laughs. KYSIDE38

Rio Resources (Ten Dollar Payday Loan) sent my account to ACA Recovery. I just sent them a letter today requesting that my account be considered paid in full because they are not licensed to do business in the state of Louisiana.

What will happen next? Advise is needed.

Hi

I have a defaulted loan through Rio Resources. They debited my account a few months back costing me hundreds of dollars. My account has since closed and now they have United Legal calling and harrassing me at work..telling me I committed fraud when I told them they couldn't contact me at work even though they have my number. They are REALLY nasty. I see above that the Rio Resources loans are now null and void (i hope that is right). I live in Florida and from what I am reading that is also true for me. What do I do.. is there a letter that you are sending to Rio Resources?? Do you know what I tell United Legal to get them to stop harrassing me?? Thank you for your help on this

now there are a lot of mte amerilaon is including to not be able to collect on the loans they lent out is that true or what, now i see some one else say they want settle with them are order to stop collecting or does it just apply to certain states would like to know because i have a loan with them also, they have not called me just ics, and the sister of ics i forgot the name. but things are ready.

I took out a payday loan from rio resources. They took out from $30 to $60 a month until the $300 I borrowed was paid back. Then the next month they changed their name on my bank withdrawal to MTE & changed their account # by 1 digit & took out $140.
I was hoping that they were finally paid off but tried every way I knew how to get a phone number to call them to discuss it. All the phone numbers were either wrong numbers or disconnected. Then the following month they took out $125 so I called my bank. I filed a dispute& also put a stop payment on their withdrawals. I eventually got the 2 large amounts back but now am getting calls from MTE telling me that I owe them $572. My original loan was for $300. I told them that was ridiculous & she kept asking me if I'd read my contract. I finally hung up on her but after reading all these posts, I guess I need to close my checking account & also need to get ready for battle!

I got involved in several of these payday loans last year when I was desperate & let me tell you it was a downhill spiral. Talk about desperate...I didn't know the meaning until I got involved with them! My kids rallied around me & helped me crawl out of my hole after I swallowed my pride & told them what I'd done. It has been a nightmare & a humiliating experience. Never again. The word needs to really get out about how bad these payday loans are & get them stopped! It sounds so good but there is nothing good about it!!!

Any advice on my next step?
I'm really happy I found you guys!!
Janet

1. Make sure they are not licensed to lend in your state.
2.close your bank account
3. send a letter to them revoking authorization to debit your bank account and requesting your loan be paid in full and a refund issued if you have overpaid. Be sure to insert your state statutes into the letter. There is a template letter on this website. You can do a search to find it.
4. send a cease and desist letter to any collection agency that is contacting you about the loan. You can find this letter on this website, do a search or go to the Federal Trade Commission Website. I believe there is one there.
5. File a complaint with your Attorney General, the Better Business Bureau, the Oklahoma Attorney General, The FBI in Tulsa Oklahoma, and the Bureau of Indian Affairs in Oklahoma.
6. STAND YOUR GROUND

Thank you for the steps of what I need to do Chizhy!

How do you find out if RIO Resources is licensed in Florida?

I can save you alot of time. They aren't licensed in any state to loan.

Okay, I received a letter from the Oklahoma Department of Consumer Credit yesterday in the mail. I had sent in a complaint against one of Rio's many DBA's on one loan that creeped out of the woodwork after a year or so. It states the cease and desist is only for Oklahoma residents. Now, this is changing. It also states to file complaints with your state's government agency that handles the licensing, such ad division of financial institutions. I have done this as well so I guess I have to wait to hear back from them. I also have an e-mail from my DOFI from last winter stating they must be licensed. We'll see what happens.

Tobi, Rio Resources/MTE and all dbas are not license in Florida.

thats funny that you say they are changing their tune. because I live in New Jersey and every complaint i sent to my AG's in NJ i am getting responses that they are forwarding my complaints to the state that these PDL'S are from. And my letter of the OK dept of Consumer says null and void cease and desist re: my pdl and I spoke with them personally and he new I was from NJ, They must be getting so many complaints from us they are not sure what is what now

Also, my letters from the OK were for ameriloan and US Fast Cash.

I, too, was in the same predicament as some of the rest of you were, running low on money and I ended up with more payday loans than I could handle. Before I knew it, it felt like my life was spiraling out of control. I finally started googling and found sites like this one with advice on how to get myself out of the situation. So many people had information about different laws that these types of companies were breaking, etc., so I took their advice and used the forms that they had posted to try to settle my debts with the companies. No one responded to me except Rio. They were willing to waive my finance fee due at that time and settle for my $300.00 principal balance. In deciding whether or not to accept their offer, I found this blog and read all of the postings about the letter from the OCCE. Dealing with legal issues as a profession, I decided to research some of the information that he had provided in his letter and found some of it to be false and misleading, which is what prompted me to post on this blog. Mishele, you are right ?????????????????? the cease and desist letter only applies to Oklahoma residents, so the rest of you are out of luck. Oklahoma Consumer Credit Code, which can be found by clicking on the following link, ..... http://www.oscn.net/applications/OCISWeb/DeliverDocument.asp?CiteID=65733

states the following:

(8) Notwithstanding other provisions of this section

(a) except as provided in subsection (4), this act does not

apply if the buyer, lessee, or debtor is not a resident

of this state at the time of a credit transaction and

the parties then agree that the law of his residence

applies; and

(b) this act applies if the buyer, lessee, or debtor is a

resident of this state at the time of a credit

transaction and the parties then agree that the law of

this state applies.

Most pertinent is (8)..... (a) & (b) (below).

(8) Notwithstanding other provisions of this section

(a) except as provided in subsection (4), this act does not

apply if the buyer, lessee, or debtor is not a resident

of this state at the time of a credit transaction and

the parties then agree that the law of his residence

applies; and

(b) this act applies if the buyer, lessee, or debtor is a

resident of this state at the time of a credit

transaction and the parties then agree that the law of

this state applies.

What this means is that if you have applied for a loan on the internet, you are required to abide by the terms of your loan agreement. If you are not a resident of Oklahoma and your contract does not state that the lender agrees to abide by the laws of the state that you reside in, you are still bound by the terms of the agreement. Unfortunately, the company doesn't have any legal responsibility to consider your loan null and void. They can, in fact, proceed with collection efforts. I also found out that it is run out of an Indian reservation, so they have no obligations to statutory laws whatsoever.

After finding this out, I went back and agreed to the offer that they had made to me to avoid paying all the collection fees that I would have had to pay if I was turned over to a collection agency. It was the best way to resolve the issue, albeit a hard lesson learned.

Pay close attention to what you sign up for because there is not always an easy way to get out of these things. Payday loans are not long term loans, although they can end up that way if you don't pay them off early in the term. Most of these kinds of loans charge finance fees every time you extend the loan, so you could end up paying more than what you expected.

Hi All,

I am being harrassed by MTE Financial for a $200 loan for which they already debited my account $310. I live in Indiana and I did not apply for this internet loan. They tell me they do not need to comply with Indiana which appears to be true.

Does anyone know where this company is located and incorporated?

Thanks,

Bev

They are located in Oklahoma. They are not even licensed in their own state. Do a google search of them on this site and you should find their address

traci,

I had a couple of their DBA's crawl out of the woodwork after a year. I have severely overpaid them so I filed complaints in Oklahoma and that is the response they sent back to me. I have refiled complaints in my state as well.

I have tried to get them so that I can pay them off, however, I have not been successful in doing so. The take money out of my account every two weeks. This is crazy. Help, I live in Cincinnati, OH can we stop them in Ohio also.

How much have you paid them so far? How much was the original loan amount?

Im having the same problem with MTE they take money from my account 2times a month and i have no contact info for them please help has been going on for about 4-5 months now i live in brooklyn ny please contact my email cauce not sure how to find this blog again

I got a call from my employer with good news..a man from the consumer complaints of oklahoma called me at work and is going to get my money back for me from these creeps

I thank very much in miami oklahoma i tryed to send in there adderess but it did not get on this page but great wook . Now im going after 500fastcash and oneclickcash,all there are in miami oklahoma all three of them deposit ther money in the same bank, iknow this to be a fact, bremer bank. Thank you scotch.. From ohio..

FROM OHIO..........

highlysaved, onecickcash is in oakalahoma also and 500fastcash and they all deposit there money in the same bank bremer....

jenlew99 thats if there operating legaly and they are are not..

They are operating illegally when they conduct business in state's which they are not licensed to conduct business.

So where do we stand with all this? Are loans in all states null and void, or just Oklahoma loans? Has there even been a definitive answer?

*edit: I live in PA, and although I looked at the state-by-state info page, I couldn't determine whether or not payday loans are legal.

They are still at it...I just noticed they have been taking money from my account for 3 months..

By the way, i have never even taken out a loan...Some how they have gotten my info without my knowledge

That's not true. I spoke with an attorney about this and was told that if they are on the internet or on a reservation, then they are legal.

so are they still allowed to conduct business sorry bit im comfused

I keep getting an email from ameriloan that they sent my account to Pinion. I try to email pinion and the email gets returned. I email Ameriloan and they won't have anything to do with it. I overpaid on the loans and want a refund but they still say that I owe them.

Here is contact information for Pinion, do a google search and you will find multiple postings on this company. Looks like they collect for ipdls and are in NM. You should file a complaint with NM's AG office.

http://www.debtconsolidationcare.com/creditors-information/about17595.html

I haven't heard anything in a while from the pdls i have out. But yesterday I just happened to speak with my lawyer regarding a suit i have for something else and he asked me if i new anyone with pdl's because he is looking into some of these companies and would like to see if he can get something together and file against these people. I live in NJ and they are prohibited in this state from what i have read so hopefully he can get start doing something about these companies.

I just recieved a loan from mte financial, what have I gotten myself into? I live in Alabama

I just found out that United Cash Loans is also MTE and Rio Resources...very interesting!

Leah, Mte dab Rio Resources has a whole string of names. I couldnt begin to name them all. Here are a few. United, ameriloan, 500 Fast, One Click, No-Faxing-Payday Loan. People feel free to jump in here. Kyside38