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

Can someone PM me the letter I should send to MTE? I am a little confused. I just made payment arrangments with them, and after reading through most of this thread, I see that I don't owe them a thing.

Wow one click cash is part of them as well? Thanks that is good to know!

Yeah I could use some help as well. I have been paying finance fees from MTE since I believe December. I just closed my bank account last friday when I started with T&C but now after reading all of this i'm thinking I can scratch that one off the list. Do I have to send them a letter or can I just send them an email with a copy of the letter that scotch attached (congrats on that by the way!!). If anyone knows that would be very helpful!

What state do you live in?

I live in Michigan

how do i find out if these companys are licensed in the state of florida, mte fin, pay check now,ez payday ,ten dollar, united cash,cash direct,ameri loan ,my cash now,cash2day,2nd question someone was telling me if ther are not licensed in youre state,and you didnt pay them off you can send them a letter teliing them its payed in full, due to not being licensed?

I am so confused after reading this thread. I have a loan with oneclickcash. I live in Florida and I know that they are not licensed to lend here. Is this whole cease and desist thing only for Oklahoma residents? I am more confused than ever!

So if the other names that MTE Financial uses are making loans OUTSIDE the state of Oklahoma, then the loans still stand. Am I understanding this correctly? I have 3 different addresses for MTE Financial for 2 pdl's that I have. The addresses I have are Colorado Spring, CO and two in Albuquerque, NM.

you all have taken m0ney out of my account and i would like to know why, i do not owe any money to youall.and futher action will be taken in order to recover my funds that was taken froim my account

I do believe I will send a copy of this State of Oklahoma letter along with my pdl letter (for the 100th time) and ask them if it "looks familiar". They have been total jerks and abusive to me. Maybe if they know I'm not an idiot, they'll leave me alone. Either that or they'll get ticked and harrass me even more! However, I appreciate this letter being posted for me to print out to "refresh" MTE FINANCIAL's memory...........

OK..I just read this entire thread and am still a little confused. Where they ordered to stop lending period?? Or just in OK. Also...I have pdls with MTE,United,US Fast Cash and ameriloan...all the same company. If I recall I read in my state law on pdls (Indiana) that you can not have more than 1 or 2 loans out with the same company. Wouldn't that also be a law breaker since I have 4 under the same cover?? I sent my letter and camplaints to the Indiana AG..should I have cc: OK too??

I would certainly send one to the OK ag's office and cc MTE. In fact write a get an e-mail together and send it to every government agency that you have complained to, with all of the facts and if you have over paid any thing and cc tha to MTE. When you do this MTE will understand the you are making the complaints and not just blowing in the wind.

I came across this blog and wanted to give all of you some advice, based on my experiences with this sort of thing in the past. I had four payday loans with four different companies (or websites). By the time it came to paying them back, I was drowning in debt and could not afford to pay anyone back. I made arrangments with a couple of the companies, but the others went unpaid. Before I knew it, I was being contacted by bill collectors and I didn????????t know where to turn. I googled MTE Financial (that was one of the lenders) and found another blog about them, which had that letter on it with the links to each state????????s statutes. I thought about giving it a try out of desperation, but not without the advice of my sister-in-law, who is an attorney. Boy, was I glad that I talked to her first???????

A lot of you are very confused about the laws that you are speaking about and looking for an easy way out like I was. When it comes to loans, there is no such thing as an easy way out, especially if you have signed a contract. Most contracts have clauses on them stipulating that you as the borrower are responsible for complying with the laws of your state, so if you took a loan out over the internet and didn????????t do any research, complaining to any agency could result in disciplinary action against you for taking the loan out in the first place. Additionally, I was advised by my sister-in-law that I would have been required to pay what was owed, and possibly pay additional collection fees for refusal to pay. These companies have the right to collect their money, regardless of your personal opinions or misinterpretations of the law. It????????s no different than making your credit card payment or car payment. There are fees that have to be paid and you can????????t get out of paying them. No one is exempt from paying fees that are due???????

I don????????t know if any of you realize that taking a loan out and trying to get out of paying it back is actually theft. It is illegal to borrow money and not pay it back, regardless of any type of lending laws that you have read. I know all of us wish that money grew on trees, but it????????s a plain and simple fact that it doesn????????t. Really, I see this blog as a bunch of desperate people trying to gang up on these companies and trying to find any loophole they can to get free money.

It may be interesting for those of you who have just joined this group to know that the cease and desist letter that everyone is referring to only applies to Oklahoma residents. You are getting advice from people who obviously didn????????t even read the letter, or didn????????t understand it. Oklahoma Consumer Credit Code, which can be found at the following web site, .....

http://www.oscn.net/applications/OCISWeb/DeliverDocument.asp?CiteID=65733 states the following:

Quote:

Rabbit,

We are ALL entitled to our own opinions, however, these companies are the ones that prey on desperate people and in turn, debit accounts for WAY more than allowed by state laws, sometimes, even their own own state laws. So, until you sit in our shoes, don't pass judgment on us. Not all of us are looking to skip out without paying anything back to the company we borrowed from, just want to pay what's fair, and for me on a $200 loan, I've paid $925, doesn't seem quite fair, does it? Also, if they agree to write off the account it kind of makes it seem like they are doing something wrong, otherwise, why would they mark it paid in full?????

bflow30,

Yes, we are all entitled to our own opinions. My post was not based on opinion - it was based on fact. I don't think these companies prey on desperate people. They don't go after people beg them to borrow money from them. People go to THEM for money. Maybe you didn't read all of my post, because I stated that I DID "sit in your shoes" and instead of taking the easy way out, I decided to research my options first because I didn't want to do anything illegal. That's why I spoke with my sister-in-law, the attorney, who explained everything to me. After going over my loan contracts with her, I realized that I had agreed to pay what I had paid, but hadn't paid attention to it when I had first applied for the loans because I was more concerned with receiving the money and thought I could "worry" about paying it back later. I found out after reading through all of my loan documents that every single payday loan that I had applied for was not what I had assumed. I thought that every payment I made was going toward my loan. I found out later that the type of loan I thought I had was an installment loan, like the type that you get from a bank. It wasn't. If you don't pay your loan off on your due date, you accrue new finance charges. The longer you have the loan, the more it costs you. It's not a matter of fairness - it's a matter of awareness. Everyone is making the mistake of not reading what they are signing up for. I thought it was injust that I was being charged as much as I was being charged, but when I went back and actually READ my contracts, that is just what I agreed to. Did I then have the right to try to throw my state's laws at the companies? Absolutely not. I had agreed to pay according to the debits that were made. I was never debited more than what I had agreed to. I guess it all boils down to morals. Some of us have them, some don't.

Rabbit, You are exactly right about the morals. Payday loan companies do not have them at all. Maybe there wouldnt be this problem if they would keep out of the states where they are PROHIBITED. Do they disclose this to the consumer? I think not. Why because they like to break the law. Most people on here have paid as high as 500 to 600 percent that is against their state laws. If these companies would follow the law most people woulnt be on here. KYSIDE38

Obviously, the lawyer you refer to doesn't know everything about PDL's as the companies are still required to follow the law of the states they are lending IN, not located in. I reside in TN, which states that my loan cannot exceed $30 interest. I don't have a problem paying what I legally owed if they were licensed to do business in Tennessee. And I have tried to get them to allow me to make payments on what I owe.
Their contracts mean nothing if they aren't licensed to do business, kind of like a lawyer, if you don't pass the bar exam, you can't practice law. Right?

BFlow, Excellent Point! KYSIDE38

NOFEAR ???????? Have you actually had a payday loan? If so, how do you figure that they don????????t have morals? Weren????????t they there to help you out when you needed it? It sounds to me like you either never had a PDL, or you didn????????t read your whole contract and you????????re still trying to make excuses and point the finger at someone other than yourself for getting into the bind that you did. You say that they should keep out of the states that they are ???????prohibited??????? in. Are they actually in your state? How do you know where they operate? Did you actually go in to a store in your state to get your loan? No. Actually, you went online to the World Wide Web and applied for a payday loan. You had no idea where they were located. You found them by searching on the internet. They didn????????t find you. Yet you still filled out that application???????.

bflow30 ???????? My sister-in-law didn????????t know everything about PDL????????s when I first went to her for advice ???????? she did her research and concluded that it was my responsibility to abide by my contract. I????????m afraid you didn????????t fully read my first blog because I specifically stated the following: ???????Most contracts have clauses on them stipulating that you as the borrower are responsible for complying with the laws of your state, so if you took a loan out over the internet and didn????????t do any research, complaining to any agency could result in disciplinary action against you for taking the loan out in the first place.??????? I am unsure what your expertise is in the PDL industry, but I really think I would be more willing to trust an attorney than word of mouth. That can get you in trouble, kind of like playing that game ???????telephone??????? that we played when we were kids ???????? the more mouths that the statement goes through, the more twisted it becomes. By the time it reaches the last person, the whole statement is completely the opposite of what it started as. As adults, I think it????????s our responsibility to stop playing these games and own up to our own responsibilities. Your statement comparing PDL companies???????? licensing and lawyers???????? bar exams is like comparing apples to oranges. One is an industry ???????? the other is a profession.

I don????????t know what websites either of you applied for loans at, but here is a little resource for both of you (and anyone else interested in abiding by the law) that I found on the website that I applied while doing my research. Keep in mind, this is not something that I read prior to filling out my application because I didn????????t think it was important. But guess what? It was. There was a link to the ???????Legal Disclosures??????? at the top and side of the home page of the website. Here is an excerpt that I didn????????t read before I got the loan:

???????Regardless of where you may be viewing or accessing this site, you as the borrower are responsible for complying with any local statutory obligations that may exist in your state or area with respect to this transaction. The Federal laws governing this consumer loan agreement may differ from the laws of the state where you reside. If you do not want to enter into a consumer loan agreement with us under our terms, then you should apply for a loan at a provider located in the state where you live.???????

You may want to check the websites that you applied at and see if they have similar disclaimers. If so, you????????ve got no argument, just like I learned, unless you want to be prosecuted for failing to abide by your state????????s laws.

Everyone else - You know, I????????ve noticed that a LOT of the people on this blog say that they have 3, 4, 5 or more PDL????????s with different companies. Obviously you had to know at some point what you were getting in to if you kept on applying for the loans. It is hard to believe that anyone would be so na????ve that they wouldn????????t even read one contract after applying for that many loans. It????????s pretty clear that those of you that did apply for that many loans knew what you were doing and planned on getting over on the companies that you applied for loans with because you ???????knew??????? how to do it because you applied for more than one loan. It????????s plain and simple ???????? you were in debt, found a lender, took their money and tried to find any way you could not to pay it back. Then you????????d apply for another loan and try to find a way to get out of paying that loan off. Then you????????d find yet another lender and try the same. This is where I question morals. For those that don????????t fit into that category, the only advice I can give to you is that loans are not free and contracts are legal documents ???????? read them before signing them.

You seem to have come here to judge people based on what YOU THINK YOU KNOW, by what, reading a post or two you become an expert on this forum! I think NOT!
You don't know a thing about me except for the fact that I took out PDL's. I, however, am not trying to get out of paying WHAT I OWE. I will not, however, pay more than MY State allows them to charge me as a resident, regardless of where they are located or supposedly located. I reside in TN therefore they are required to be licensed by the state of TN to lend to me (at least that is what I have been told and NO not by this forum but from the TN Department of Financial Institutions). Most of my PDL's are NOT EVEN licensed in their state, so they are operating illegally in that state as well. I have even contacted my PDL's and offered to pay what OK state statutes say is the maximum they can charge, so, I am not trying to Skip out on anyone at all, I just refuse to pay more than that!
So, rabbit, guess what, in the end when it is all said and done, just why do any of these companies settle if they are SO LEGAL?
Oh and just what is your EXPERTISE IN the PDL industry? Oh, never mind, judging (like you do) by what you have written and how strongly you feel, it must be that you are a part of a PDL Company!

Oh, rabbit, dear, dear, rabbit. Which pdl company do you work for, my darling? You've stated we're obviously not reading your posts and restating your facts; however, you obviously have not read shit on this forum. No one on here is trying to "get out of paying". We have PAID them back. We have PAID them the fees. We have PAID them in excess of hundreds of dollars they were legally owed. And in my mind, we have been very generous. As internet pay day lending is illegal in many of our states. So the loans should never have been issued to residents in those states. However, we chose to pay what is legally owed (this was generous) and are still being harrassed for an illegal transaction that we have OVERPAID. So, before you get on here signed in as a "guest" and try to preach to people that have been ripped off by a company performing illegal intransactions, you should read these posts on here. People paying $2,000 on a $200 loan, etc. Get the f*** off the forum and take your sister-in-law, the wonderful attorney, with you. As I asked before, rabbit baby, which pdl company do you work for???

My, my. Nasty, aren't we? ???????And so defensive because you may be wrong in your thinking? No, I was a PDL addict like you guys are. I'm just trying to point out the facts to you, but if you want to be ignorant, so be it. Why did you take the loan out in the first place after you read this (below)*? That is the question----are you ignorant?

I'm gone--outta here--hope you are successful in getting out of what you legally owe (NOT). I don't need to hear all your crap trying to justify---get a part time job and pay off your obligations instead of taking all the time bitching on here. Get a life.

*This service may or may not be available in your particular state. The states serviced may change from time to time without notice. Regardless of where you may be viewing or accessing this site, you as the borrower are responsible for complying with any local statutory obligations that may exist in your state or area with respect to this transaction. The Federal laws and laws of the jurisdiction in which the Lender is located governing this consumer loan agreement may differ from the laws of the state where you reside. If you do not want to enter into a consumer loan agreement with us under our terms, then you should apply for a loan at a provider located in the state where you live. All aspects and transactions on this site will be deemed to have taken place at our location, and will be deemed to be regulated by all applicable federal laws and the laws and regulations of the jurisdiction in which the Lender is located.

Well, well, well......poof...BE GONE!!!!! Some people sit high on there pedestal and then one day....bam....someone knocks them off!!! Cannr, I think we succeeded!

You know, half of me didn't even want to dignify a response to rabbit's stupid posts. However, something about them was just getting to me. Couldn't figure it out right off. But, finally, on my way home, it clicked. The quotes that rabbit kept posting OVER and OVER is EXACTLY what was quoted in my response from MTE. I do believe we've been infiltrated by MTE. I got 2 responses directly from MTE via email. And that quote was on them both. Just a bit too much of a coincidence for me.

You are so right, I just looked at mine too. hahaha We have been infiltrated by an MTE RABBIT!!!!
I was pissed of because rabbit just kept saying the same thing and not really HEARING what anyone else was saying at all!
I told rabbit numerous times that I had tried to settle, even according to OK laws with one of my creditors, however, when they PDL isn't licensed in my state or their location state, then it gets down to basic law. I only owe what I owe, not whatever ungodly figure the PDL wants me to pay just because they feel they have a right to collect it.

Oh, I know. I was reading your posts and just pictured you sitting at the computer with your face all red and fingers flying until flames came up! LOL! And the fact that rabbit said we're "ignorant" after reading the quote just really got to me. That has MTE written all over it. Oh, MTE, stick your quote up your ass. And speaking of, when they gave me my 24 "deadline" (which was up days ago), I haven't heard from them. Guess they've decided to turn me over. Maybe rabbit will call me! LOL! Time to file another complaint against MTE......

Good luck to rabbit if he gets either one of us on the phone! LOL

regarding Scotch's post from 1/12/07:
" Ok everyone this is it! I received a copy of the letter today that was sent to Rio Resources and MTE Financial by the Oklahoma Department of Consumer Credit. They have told them to CEASE AND DESIST making loans in Oklahoma!!! Hooray! Everyone start sending those complaints in fast. We are on a roll!!! I have attached a copy of the letter, I hope it shows up ok. "

This is really great news to me since I have a Rio loan (tendollarpaydayloan[dot]com) that is still "outstanding". Rio deposited my $300 loan into my 1st checking acct back on 6/7/06, and debited from that checking acct a total of $550. My first email statement from them stated that the initial payoff was $390. I opened a new checking acct on 11/3/06, and am waiting for them to pull all my statements to see how much Rio took from that one. Recently I tried to research payments made to Rio, which I would have paid with my re-loadable visa debit card. I only have access to June-Aug, so I can't research prior months (I think I got the card somewhere between Mar-May '07). The two debits I could track (total $65) were by United Legal Corp out of Jacksonville FL. HMMMMM, quite interesting! That makes a running total of $615 that I have paid, but I still have some months of unknown to work out, so it could very well be way more!

BIG QUESTION REGARDING THE CEASE/DESIST LETTER FROM THE STATE OF OKLAHOMA: in another post, someone said that ameriloan is also a Rio/MTE company. Would I be in luck with collection on that one too, since it's supposed to be affiliated with Rio/MTE? Or is that just wishfull thinking!

guest, you can do your happy dance now. ameriloan is one of MTE Financial's d/b/a's. Good news? :D

I am so glad these clowns are getting what is coming to them. YEAH!!!!!!

I also took out a loan for $300 and so far they have taken $1210.00 out of my account, I closed the account now there threatening me. There email was the only way I finally got any phone number. Does anyone know what the laws in California?

I also have had Mte financial taken money out of my account can anyone help me what was a $300.00 loan i have repaid them $865.00 what should i do? i called my bank and im doing a claim on them.

brandy, you are going to have to close that account. MTE will debit you forever (as you have found). There is a sticky at the top of this site page regarding closing your account. Please read that carefully. If you have any questions regarding the bank issue, please post them. You also will need to send a letter to MTE revoking their debit privilidges and a few other things. And you will also need to file some complaints against them. Please read the bank account information above. Ask any questions, and then post. We can go from there. :D

The issue with MTE has become diluted.

Here's the bottom line - RABBIT even posted it (does RABBIT realize they shot themselves in the foot with the last post)

'Regardless of where you may be viewing or accessing this site, you as the BORROWER are responsible for complying with any local statutory obligations that may exist in your state or area with respect to this transaction (WE ARE TRYING TO BE RESPONSIBLE FOR COMPLYING WITH ANY LOCAL STATUTORY OBLIGATIONS THAT MAY EXIST IN OUR STATES)

The Federal laws and laws of the jurisdiction in which the Lender is located governing this agreement may differ from the laws of the state where you reside (YES - WE KNOW. THE COMPANY IS LOCATED IN OKLAHOMA).

If you do not want to enter into a consumer loan agreement with us under our terms, (your terms being
will be deemed to be regulated by all applicable federal laws and the laws and regulations of the jurisdiction in which the Lender is located)
then you should apply for a loan at a provider located in the state where you live.

All aspects and transactions on this site will be deemed to have taken place at our location, (AGAIN IN OKLAHOMA) and will be deemed to be regulated by all applicable federal laws and the laws and regulations of the jurisdiction in which the Lender is located.

We know that the 'jurisdiction' that the company MTE (by the way means Multi Tribal Enterprises) refers to is the Indian reservation & their soverignity.

Here's fact RABBIT: The company is located on a reservation; however there is current legal issue in which the State of Colorado has litigation pending with MTE. They have asked MTE to PROVE their soverign status. They have refused. IF you, opps if MTE is truly soverign why drag out the legal proceedings and cost yourselves MORE MONEY. The issue has been raised that the people behind MTE are merely being housed in a building owned by the Modoc tribe. Or the Modoc tribe has rented out their name.

In addition, when the US Federal government agreed to give tribes soverign status; the stipulation was this, that if the tribe was going to claim soverign status in transactions, that the tribe HAD TO disclose the soverign status.

Ive read and read my agreement over & over. The word SOVERIGN is no where. Nada.

Since MTE did not disclose soverign status they can not now claim soverign status. Take your pick here; the state in which they are located, OKLAHOMA, has stated they are not licensed in OK. In addition, MTE is not licensed in ANY state.

The reason MTE is settling some accounts is that the consumer (US) has become educated to their scam. Individual states have caught on too, ie court cases pending.

Their days are numbered!

I am dealing with MTE scumbags... how can I get a copy of that letter?

How how could i get a copy of that letter. I would greatly appreciate it.

kd, do you mean the letter telling MTE to cease and desist lending in Oklahoma? Is that the letter you are talking about?

I've been screwed by them too. Sad thing now, I'm being harassed by a company called North Tier & Associates, a collection agency, trying to collect for them. I don't owe them money as they took more than they were entitled to from my account. I finally had to close my back account. This collection agency is ruthless. They have called my elderly in-laws and told them they are going to put a lien on their home. I've just filed a complaint with the FTC. I wonder if the same people aren't running this outfit!