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Closing Account in Missouri??

Date: Tue, 10/05/2010 - 09:14

Submitted by anonymous
on Tue, 10/05/2010 - 09:14

Posts: 202330 Credits: [Donate]

Total Replies: 11


Okay so here is the whole horrible story...
I have 7 PDL's all online loans...wow how did it get this bad?? I feel horrible :( but I have got to stop this cycle!!!

Anyway these are the lenders...

*Purpose Cash $625.00
*Cash Central $468.75 (called them and worked out EPP-havent got paperwork on it yet though)
*Cash Direct Express aka GECC $637.20 (found out they are not licensed in Missouri)
*Sure Advance $414.80 (found out they are not licensed in Missouri)
*Ace Cash Express $500.00 (tried an EPP with them they refused said they don't do that)
*Speedy Cash $375.00 (called them and worked out EPP-havent got paperwork on it yet though) CFSA member
*Loanshack $ 322.28 (called them and they told me they wouldn't do an EPP until I was in default) CFSA member

So my question is..can I close my account to stop the 2 illegal companies from getting any further money?? I read somewhere in Missouri you can be criminally charged if you close your account. Is this true? If can work out payment plans with some of these companies then I can always change my account information with them to the new account.

Does anyone have any experience with this kind of situation or any suggestions what I might do??

Thank you in advance for all your help...everyone here on this site have been wonderful and very helpful to assist me in this !!!


First of all, can you tell me where you found that Loanshack is a member of the CFSA? I couldn't find them in the CFSA member list. Check out for yourself in the following link: cfsa.net/MemberList.aspx.

Yes, you should close your account and open a new one. Tell each of the legal PDL lenders about this.


lrhall41

Submitted by paulcahill80 on Tue, 10/05/2010 - 09:27

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Quote:

Originally Posted by paulcahill80
First of all, can you tell me where you found that Loanshack is a member of the CFSA? I couldn't find them in the CFSA member list. Check out for yourself in the following link: cfsa.net/MemberList.aspx.
Yes, you should close your account and open a new one. Tell each of the legal PDL lenders about this.


The CFSA logo is right on their home page.


lrhall41

Submitted by on Tue, 10/05/2010 - 10:01

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Contact your legal lenders before you close the account and make alternate payment arrangments (preferrably via money order). I wouldn't give them your new account info, even the legal ones. Tell them you need to close your account due to fraudulent activity. Then follow the advice in the sticky at the top of this forum entitled "how to deal with unlicensed lenders."


lrhall41

Submitted by OhioGal1 on Tue, 10/05/2010 - 10:04

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Loanshack (aka Dollar Loan Center LLC / DLC Empire) is not a member of the CFSA. What's also funny is the CFSA specifically states that you must ask for the EPP prior to default. This company is telling you they can't give you an EPP until you default. How much did you borrow from them? How much have you paid so far?


lrhall41

Submitted by OhioGal1 on Tue, 10/05/2010 - 10:19

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Quote:

Originally Posted by OhioGal1
Loanshack (aka Dollar Loan Center LLC / DLC Empire) is not a member of the CFSA. What's also funny is the CFSA specifically states that you must ask for the EPP prior to default. This company is telling you they can't give you an EPP until you default. How much did you borrow from them? How much have you paid so far?


It is Loan Shack of Missouri, LLC and there is an image of their MO State Licence on their website (www.loanshack.com). I didn't see anything about Dollar Loan Center LLC/DLC Empire. I told the representative that I talked to that I had another company who set me up on payments already and it wasnt in default yet. I also got to reading on the CFSA site and found out that it has to be ask for or arranged before you are in default. I think I will call back and talk to someone else and mention the CFSA logo and ask specifically for the CFSA EPPplan.


lrhall41

Submitted by on Tue, 10/05/2010 - 10:47

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If you go to the the site you listed and look at their disclosure info, it shows you that they are also DLC LLC and DLC Empire. If you go to the CFSA Website and look at their member list, none of those names are on it. If they're trying to follow CFSA practices without being a member, that's great but I don't think they should be claiming to be a member if they aren't. This company (in Nevada) also has a cease and desist order against them for operating illegaly in South Dakota. :)


lrhall41

Submitted by OhioGal1 on Tue, 10/05/2010 - 10:52

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If they're claiming to be a member, they should probably be reported to the CFSA. It's not illegal but it's unethical. Having the sign up in the store, however, doesn't necessarily mean they're claiming to be a member. It could just mean that they are following the guidelines set forth by the CFSA.


lrhall41

Submitted by OhioGal1 on Tue, 10/05/2010 - 11:10

( Posts: 5253 | Credits: )


Quote:

Originally Posted by OhioGal1
If they're claiming to be a member, they should probably be reported to the CFSA. It's not illegal but it's unethical. Having the sign up in the store, however, doesn't necessarily mean they're claiming to be a member. It could just mean that they are following the guidelines set forth by the CFSA.



So I just got off the phone with Loanshack...finally I got to a supervisor who said "state laws supercede CFSA practices...state law says you have to be in default before we can set up a payment plan"..that is why they wouldn't set it up before I was in default...so she says "hang on a minute, I am going to trick my computer into thinking you are already in default so we can get you on a payment plan"...she comes back and says ok i have it set up for 4 payments...etc etc...all done. So another set up on payments...getting closer to being out of this HELL I got myself into!!!!
Thanks everyone!!!


lrhall41

Submitted by on Tue, 10/05/2010 - 13:32

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For Ace Cash express, try the main corporate office, write to them until they accept! the store where you got the loan is going to say no! unless you contact the coporate and pressure them to accept you payment plan, that is how i did it and they ended up accepting :) good luck!

Ace Cash
1231 Greenway dr.
suite 700
Irving, TX 75038


lrhall41

Submitted by Paulie on Tue, 10/05/2010 - 14:31

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