Problems with First American

What state are you in?

Arkansas

Arkansas State Information

Legal Status: Legal (Applies to check cashers only)

Citation:
Ark. Code. Ann. ???? 23-52-101 et seq.; Ark. Const. art. 19, ???? 13

Loan Terms:
Maximum Loan Amount: $400
Loan Term: 6-31 days
Maximum Finance Rate and Fees: 10% of check + $10; $5 ID card
Finance Charge for 14-day $100 loan: $22.22
apr for 14-day $100 loan: 579%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One per location
Rollovers Permitted: None (cannot renew or consolidate)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: NSF fee; Court Costs; Reasonable Attorney's Fees
Criminal Action: Prohibited (Unless check returned due to closed account or stop-payment by maker)

Where to Complain, Get Information:
Regulator: Arkansas State Board of collection agencies
Address: Division of Check-Cashing Companies, 523 Louisiana Street, Suite 460 Little Rock AR 72201
Phone: (501) 371-1434
Fax: (501) 371-1440
Regulatory Contact: Peggy Matson,, Executive Director
Regulator Website

Licensee Database

Complaint Instructions

Complaint Form Link

Online Resources

Scooby, how much did you borrow? Are you just paying once per month? How long had you been paying on the original agreement? I have to be honest with you in saying that, you were lucky they made the first arrangement with you and you probably should make every effort to keep the arrangement (second job, yard sales etc) I feel for you, but you have to look at this realistically in that you should probably have unnderestimated and over delivered in this case...good luck!

They wanted to me to pay $200 twice per month. Every pay period. And if I had that I wouldn't have been rolling over the loan every pay period. It was a $600 loan originally in which I have paid this loan off a couple of times. I have had the loan for over a year. I had other payday loans that I was trying to pay down on top of my bills that I am trying to get caught up on due to me paying the interest on these loans for so long. So no I do not think that I have underestimated or over delivered in this case because I have tried to give them something and they would not except. $400 in one month is a bit much when you factor in all my regular bills.

Do you have documentation of everything you have paid them?

Yes I do.

I (and this is just me) would hold on to all documentation. I would get an unlisted number. I would send them copies of every single payment you have made to them, and show them you have paid them many times over. otherwise, you may be paying them, pretty much for forever. No judge, is going to look at all that, run the numbers, and not see that what they are charging is off the charts. That is just me, and at this point in this game, I tend to be a bit more agressive-even with store fronts. I would send a letter revoking any and all wage assignments, I would alert your bank and tell them ACH withdrawals are not authorized period, and I would contact the ACH firm. Again, this is just advice, ultimately you decide what you want to do, but if you keep up like this you will doing paying these folks in particular, forever. I have been to court twice with storefronts,-one time, it was deemed I would pay about 200 dollars, and the other case-I had to pay nothing. Sometimes court is necessary, you just show the judge all that you have done and tell the truth-because they won't-and for the most part, the judge knows this. The phone number change, isn't because you are runnning scared, it is so you can get some peace. Also, stop putting these payments ahead of your basic needs: food, utilities, a vehicle, and a roof over your head. Realize what is important, I know that paying your debts is important-when your lights are cut off, your car is repossesed, and you can't make your mortgage or rent payment because you are busy handling your PDL payment plans..that's the time you need to step back and really look at the situation. They are not priority.

Thanks for the advice. Right now I think they are sending me to collections since they say I have to pay the full balance. Collections have not called me yet but these people are just difficult to work with. I doubt collections will be any better. That's why I was looking for the corporate office...