500 FAST CASH : "cut and paste form letter"

A few people have received the same thing. The fact of the matter is regardless of the form letter used the facts are the same. They aren't following the law. I would follow up with a reply stating that just because you used the help of a template letter doesn't change the fact that they aren't following the laws of your state.

The part they say about fdcpa not applying is correct. That only applys to 3rd party collectors.

They would like the letter to be filled with misleading and incorrect info, but it probably wasn't. Almost all of the companies have seen Polly's pdl letter, and when people use it they know where it came from. They just want to scare you out of pursuing things.

I got this same response when I complainted to them and something similar to their response via the BBB. This company is a dba of Rio Resources/MTE so to me your best course of action is to file a complaint with the OK Dept of Consumer Credit so that you can arm yourself with the cease and desist letter that they have already issued this company, since they are not licensed to lend in OK, the state in which they are lending out of. Also, file a complaint against them with the FTC and your state AG or conumser credit agency.

Thats the pot calling the kettle black, quick poll how many times have we all seen this "form"/cutpaste letter sent to the PDL consumer?

A ton of times . . . . . That's a great point! They send us the same letter over and over and over again, why can't we send them the same letter?

Reply to post below:

When debits are deducted from my account, they are not debited as RIO Resources but as 500 Fast Cash. How can I be sure it's the same firm?


Posted: Wed Jan 31, 2007 1:25 pm


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I got this same response when I complainted to them and something similar to their response via the BBB. This company is a dba of Rio Resources/MTE so to me your best course of action is to file a complaint with the OK Dept of Consumer Credit so that you can arm yourself with the cease and desist letter that they have already issued this company, since they are not licensed to lend in OK, the state in which they are lending out of. Also, file a complaint against them with the FTC and your state AG or conumser credit agency.

Most pdl's use dba (doing business as). Some of the have numerous different names. This benefits the pdl because if you block one name, they can hit your account under another name. I think you can be relativly sure that they are the same company. You could also check with the BBB and see if the company addresses are the same. That's a dead giveaway.

If they are Rio then aren't they under an investigation in one of the states? I recall reading in a thread here that they were ordered to stop lending in certain states . . . .

I just did a quick check on the BBB website. Here is what I found:

500 Fast Cash
515 Gse
Miami, OK 74354
Telephone: (888) 339-6669

MTE Financial Services
515 G S.E.
Miami, OK 74355
Telephone: (866) 213-0268

So I think it's pretty safe to say they are one and the same.

Goudah I was just about to write that they have the same address. :) Also, I found out that they were related because I did a complaint with the BBB on United Cash Loans and MTE/Rio and they made a comment in their reponse to my BBB complaint that basically said they knew about that complaint, which led me to believe that they are contected.

Goudah I was just about to write that they have the same address. :) Also, I found out that they were related because I did a complaint with the BBB on United Cash Loans and MTE/Rio and they made a comment in their reponse to my BBB complaint that basically said they knew about that complaint, which led me to believe that they are contected.

Good, so I was on the right track . . . . They have so many dba's it's hard to keep track of them all . . . . Mr. Poor, you should check out the other threads on Rio/MTE and you will get a wealth of information about this company. From what I read they are one of the worst ones to deal with . . . .

They are one of the worst ones to deal with but they have been order to cease and desist from making loans in Oklahoma. It states Rio Resources/MTE Financial Services on the letter from the consumer credit office there. They have many DBA's and will give you the run around. You do have a right to the money you paid them back. Follow up with the proper complaints and do some reading around the forum as suggested by Goudah 8)

I wish these "bad" pdl places would just get their act together . . . . Seems to me that there are about 5 or 6 that are just absolutly the worst places in the world to borrow money from. We'd all probably have been better off borrowing from a loan shark, because that's all these companies are . . . . Glorified loan sharks with unfettered access to our checking accounts.

It almost seems like the more dba's the company has, the worse it's business practices are . . . . .

Goudah,

I totally agree with you. It was one of the affiliates that stalked me around the forums and lied to government agencies during my complaint process. I will be sending a complaint into Oklahoma this week to see what else can be done.