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AMERILOAN refuses to settle

Date: Mon, 02/12/2007 - 09:48

Submitted by gobigblue28
on Mon, 02/12/2007 - 09:48

Posts: 22 Credits: [Donate]

Total Replies: 9


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


I wouldnt do a darn thing. ameriloan aka Rio aks MTE refuses to follow the law. If they are not licensed to do business in your state and paying state taxes there to do business they dont have a legal leg to stand on. I would tell them this. This i8s one company you cant back down from. Keep up the fight stay in contact with your AG. Best Wishes KYSIDE38


lrhall41

Submitted by KYSIDE38 on Mon, 02/12/2007 - 10:44

( Posts: 2477 | Credits: )


Check Ameriloan if they are licensed in your state. It is wrong for any company to do business in any state without a valid license. Once you have their information and know that they are not licensed in your state, you will be proving a point by paying only the loan principal. You won't have to pay any interests.

Get the receiver code of this loan company and send a money order with your due amount. The receipt will confirm that you owe no more towards the loan.


lrhall41

Submitted by Howard on Mon, 02/12/2007 - 10:48

( Posts: 310 | Credits: )