Rapid Cash Management is based outside USA – are they legal?

First of all, why pay 89.00 for a 200.00 loan to Rapid Cash Management? That makes no sense. please do not get involved with these companies. If they are located in the UK i seriously doubt if they are even remotely legal here, stay away from them. Stay awy from any type of PDL, they cause more trouble than you can imagine

Rapid Cash Management is probably part of the GFSIL Route66 funding crew. Stay Away! Bad News! That fee is rediculously high anyway!

And you have to pay it up front it seems? Never give any money to anyone 'up front' that means they'll take your 89 and you won't ever see 200, but you might see Rapid Cash Management try to take more out of your account.

Seriously, I think its a 200.00 loan that is actually a 289.00 loan plus all additional fees. A very large rip off

Yeah, that's how a lot of the Route 66 type places work. You get a $200 loan and you will have to pay Rapid Cash Management $89 every payday. It's not a upfront fee.

WHAATT!? :shock:

mycandykiss-Is Rapid Cash Management continuing to debit your account for the $89??

Okay it is all about the wording, but my advice still stands never give any money up front for anything because it is a scam.

Rapid Cash Management put $200 in the account and then less than 10 days later they are to debit the $89 fee. I suppose they call it a fee so they are not over the legal finance charges. I am thinking of stopping my direct deposit and closing my account. I am very scared. It was all verbal over the phone and the recorded the conversation asking my permission to make these ACH debits to my account. They actually did a conference call with my bank on the line and asked my last two payroll deposit amounts and balance etc..... I was a little upset because the girl on the bank line did nothing much to verify my identity. Kind of scary.

maryann, you have made a "verbal agreement" to a loan of $200, of which an $89 "finance fee" will be deducted by Rapid Cash Management. Okay. They will continue to debit your account. The "finance fee" may go down each month; however, your principle amount of $200 never will. Some members have had these "verbal agreements" for years with them debiting their account. Okay, now let's get down to the nitty-gritty. "Verbal agreements" are totally illegal. They are illegal overseas companies. Do not be scared. Yes, you made a verbal agreement. Yes, they did a conference call with your bank to verify that indeed you did give them the correct bank account information. Yes, they claim it is "recorded". Now - down to the law. They are illegal. Illegal. Illegal. You need to close your bank account NOW. There is a "sticky" at the top of this site page regarding closing your account. You need to read this. Read it carefully and understand it. Make sure your bank will not "force open" your account due to pending debits. Close your account, go to a completely different bank and open a new account. Do this ASAP. You will also need to type up a letter revoking any wage assignment. I don't recall if any "verbal agreements" state wage assignment; however, you have no documentation, so do it just to be safe. mary, do not be scared. But be very fast and very cautious. You need to get your bank account closed and taken care of. Any questions regarding the bank account issue, just post. You need to send a letter (if you even have an address) revoking any wage assignment you may have agreed to. You need to file complaints against this company to the BBB, the FTC, and your state AG. Make sure you document everything in writing that you remember. Just type out everything that you remember (since there are no written documents regarding this loan). The date, the time, who you spoke to, what was said, etc. No, you do not abide by the UK laws. You abide by your state laws here in the US. I know this is a lot of information. So post ANY questions. Any at all.

I do like my bank - Washington Mutual - and have been reading about how ACH debits can even occur on a closed account. I would like to reopen another account at the same bank - what are my risks? Would it be better to wait a month and then reopen? I am definitely cancelling my direct deposit. Nothing was mentioned about wage assignment...but like you say I have no paperwork.

candykiss, did you read the "sticky" at the top of this site page regarding closing your account? You need to be sure that if you do close that account, your bank will not "force open" the account due to pending debits. If they can not promise you this will not happen, you need to put a hard debit block on the account. At least your direct deposit is not going in any longer. I need for you to read the "sticky" regarding closing your bank account. If you like your bank and they work with you, you can open a new account there. HOWEVER, if you do this, you make sure you get in writing that your old & new accounts will not be "linked" in any way. In other words, if anything hits your old account, they will not touch your new account. You need to go to your bank and talk only to the branch manager and do this now. Read about closing your account. Post any questions regarding this issue. And, regarding the wage assignment issue, just revoke it anyway. I don't care. Cover your ass. If you have a mailing address, mail it certified. If you have a fax number, fax it. If you have an email, email it. Do it all. These guys will NEVER stop debiting your account. And, remember, they are totally illegal. Do not be afraid of them. Point number 1 - You have NO loan documents agreeing to anything. Sorry about their luck. You need to (AFTER getting your bank account straight - now) file complaints with all the agencies I listed. You absolutely need to file these complaints. If you have any questions at all, just post.

I used washington Mutual, and they DO NOT force open closed accounts for any reason. They are very easy to work with. How ever I would suggest opening a new account at an unrelated bank. Its safer that way.
WAMU also will not link closed accounts to open ones. The good thing about that bank is that once an account is closed it stays closed.

Ok - I closed my bank account and sent Rapid Cash Management an email stating the same and revoking any and all authorizations for any debits to any bank accounts I may have. Can you tell me if OK Payday is licensed in the state of Nevada? Also, if you request these payday loan people not to contact you at your place of work, do they have to stop calling your job?

candy, OK Payday is not licensed in Nevada. I checked Payday OK also just to be on the safe side. Nothing. As far as these pld's contacting you, yes, they will. Even though you tell them not to, they will. They suck. Try desperately to not take any calls from them. Try to only communicate with them via email or USPS.

Was the $289 thing a loan or a pdl?

Hi el-it was a pdl....

Thanks for the info - I am in Nevada - so if Payday OK is not licensed in Nevada - does that make the loan illegal? If so, am I only obligated to repay the principal amount? Since sending my email to Rapid Cash Management - I have heard nothing. I thought they would be freaking out - calling and emailing me.

I sent an email to Payday OK stating my concerns with their company and revoking any further debit authorizations. They sent me a email reply stating my loan was PIF. Now does anyone know anything about Payday-loan-yes or Cash Advance USA? Are they licensed in the state of Nevada? I read the Nevada statute - but not sure how to tell if they are licensed with the state.

Does anyone know anything about these companies? I live in Nevada and am wondering if they are licensed here. Payday-loan-yes is charging me $105 interest on a $350 loan - every two weeks. They are St. George Limited (lender name in the contract). Any iformation on these two companies is greatly appreciated.

Payday Loan Yes is also Cash Net 500. They are not licensed anywhere, and are a pain in the a** to deal with.

If they are a pain to deal with - how do I get rid of them?

AIP has informed me that they are doing business according to the laws in the UK - just like Rapid Cash Management. No written contract - not legal in Nevada. I advised them my account is closed and that I have spoken with authorities and any further attempt to harrass or collect from me will result in further complaints against their company - also advised her that I was recording the conversation. She advised me that was illegal since I did not tell her at the begining of the conversation. WHATEVER! I told her it was not legal to have a payday loan with no written documents and she advised me that a verbal agreement is legal. They did not even ask more than my name which is very common - so I doubt they even knew who I was.

candy, I'm getting confused. First of all, OK Payday sent you a PIF? Second, the other two companies you are asking about, do you still need to know if they are licensed? Also, now you're talking about AIP. I didn't know you had a pdl with them. They are calling you? They will call you to death. Don't worry about her saying you recording her call was illegal. Lord. They are lending illegally. Here's what you can do regarding AIP and you will get results. You need to file ASAP with the BBB on them. I mean right now. Many times they will settle just through the BBB. They are illegal. Verbal contracts with no documentation. Give me a break. Make sure you detail in your BBB complaint, no contracts, verbal only, ect. State exact amounts. State they are illegal in your state. File it now. You should get results from this. Otherwise, please clarify what is going on with the others. I'm reading your posts and it's going from one to the other. What do you need to know?

I am jumping around and I am so sorry - I originally started with questions regarding Rapid Cash Management. I have pdl's with AIP, Rapid Cash Mgmt., Payday-loan-yes, and Cash Advance USA - I also had one with Payday OK, but after sending an email that I was informed they were not licensed in Nevada - they sent me a PIF email. I did notice that Payday OK listed the address 2207 Concord Pike, Wilmington, DE. on their email. That is the same address noted for AIP in one of the topics of this forum. I spoke to AIP today - regarding my having no legal contract, no written document, and that this was not a legal PDL. The gal - Judy - advised me that they are operating under UK law and it is legal. I advised her I have closed my bank account and immediately revoke any authorization for any debits to my bank. She told me that they will continue to debit my bank as that is the way they collect their money. I have also sent a letter. Anyway - I am trying to clean up these errors in judgement - that are draining my finances weekly. I still do not have much info on Cash Advance USA or the Payday-loan-yes companies. I do still need to know if they are licensed in Nevada. I will issue a complaint with the BBB regarding AIP - can you file a complaint online?

whats the number

candy, yes, you can file on line. You will more than likely get results from AIP through the BBB after you file a complaint. I want you to also file with the FTC and your state AG on them. Okay? Just start with the BBB. Go to www.bbb.org. You can do it all on line. They will also respond via email. It will take them a little time, because the BBB usually gives the company a certain time period to respond. But AIP almost always responds. If you have overpaid, state that you want a refund. You need information on the other two pdl's? Let me see what I can find. Hang on.

Global Payday Loan, LLC
PO Box 572037
Murray, UT 84157-2037
Telephone: (888) 227-4638 ext. 528
Payday-Loan-Yes.com

Cash Advance USA has addresses in 3 different states. Do you happen to have your loan documents? Is there any kind of address on there? Or does it state on them anywhere "you are bound by the laws of such & such state" so that we'll have a hint as to which state they are operating out of? I can check on these to see if they're licensed. But I still would like to know what state Cash Advance USA says they are in.

candy, I'm not showing either as licensed in the state of Nevada. :wink:

This website is amazing. Thanks for all your help. I literally felt like "ending it all" in the face of the mess I had made. I looked at my documents from Cash Advance USA - nothing on there regarding any financial institution or governing laws. They did make me fax them a check made out to them for $250. I looked at their website and under their privacy - no spam - policy - it said they are: Liberty Capital Investment -4440 NW 73rd Ave. - Miami, FL 33166. There phone is 866-840-0440 and I have received an email from a Caroline Bishop (collections) - after my email revoking debit authorization and advising of my closed account. Also, for my complaint with the BBB on AIP - can you confirm that the address is 2207 Concord Pike in Wilmington, DE?

yes, that is AIP's address . . . .

Would you say that it is safe for me to email Payday-loan-yes and Cash Advance USA and tell them I have become aware of the fact that they are not licensed in Nevada? Does that fact basically make the PDL not valid?

You can email them, but its hard to prove they received it.

I will email them and then follow up with a certified letter to CMA. I always save the sent emails. I know it is no proof they received them.....but proof that I sent them!

candy, as goudah stated, the address listed with the BBB is correct:

AIP
2207 Concord Pike
Wilmington, DE 19803

I'm going to check on the other one. Since you gave additional information, I'm wondering if I can find something on them.

Liberty Capital Investments
Address: 4440 73rd Ave.
Miami,FL 33166

Huh. This is what's on the BBB. You want me to check the Nevada database on them for a license?

Okay. I did. Nothing there on them. :wink:

I did file my complaint with the BBB on AIP - I am now sending a letter to Cash Advance USA stating they are not licensed in the state of Nevada. I have already sent the revocation letter.

Rapid Cash Management

928 High Rd
London
N12 9RW

1800-266-8880

Hey, confidential "guest"! Thanks for posting great information! :wink:

Does anyone know if cash in minutes is licen. In florida?

Can you tell me if this company ripped you off as well, mycandykiss.. will they continue to debit my account after the loan is paid

guest, which company are you asking about? Candy has a few listed. Maybe we can help answer your question.

Rapid Cash Management are registered as Global Call Centres in the UK. "Governed by UK laws" means that you can only sue them if they break uk laws.

once upon a time Rapid Cash Management/Global Call Centres were called Internatonal Cash Services. ICS was closed down for some unkonwn reason. may be worth looking into that.

Name & Registered Office:
RAPID CASH MANAGEMENT LIMITED
88/98 COLLEGE ROAD
HARROW
MIDDLESEX
HA1 1RA
Company No. 06264852

I used to work for Rapid Cash Management/Global Call Centres. the office we worked out of was the place in whetstone but the office that is registered with companies house is the one in harrow

Thanks, guest! So the above posted address of
RAPID CASH MANAGEMENT LIMITED
88/98 COLLEGE ROAD
HARROW
MIDDLES-E-X
HA1 1RA
is the correct address? Thank you for the information! :D

I have had a loan with this company and they supplied the monies and had the payments as they said they would taken out of the checking without any problem, except when it comes to contacting them for refinancing or other problems they put you on hold for ever. Angeleyes

The acutal address where the call centre is based is

928 High Rd
north finchley
london
n12 9rw

this where you actually go through to on the 1800 266 8880