Legal company???
Date: Wed, 12/29/2010 - 23:17
I have not been able to find any information on this company. The "real" Liberty Group LLC is out of California and does not do online payday loans.
I was stricken with a neurological disorder and lost my job. The current economy caused me to lose my 401k, retirement and savings to make ends meet. Desperate, I searched for a way to provide food so we could eat. The local payday store could not help me so I "thought" they recommended this company. Things didn't seem right after a couple payments.
I've borrowed $200 and have paid $30/per $100 borrowed for the past 4 pay periods. I offered to pay it off but was told even if I paid the whole amount a couple days after they took the $60 there was no proration of the "finance charge" which raised a red flag. I believe Federal lending practices for US lenders prohibit companies from requiring a full term finance charge despite an early payoff. Any assistance would be appreciated. I hate to lose this account but I will no longer deposit funds into that account until I am able to verify the company. None of their documents contain any contact info but a phone number.
:confused::confused::confused:
I have tried to search the company in BBB. But, had no success.
I have tried to search the company in BBB. But, had no success. However, you may find some information in the following page:
http://www.debtconsolidationcare.com/paydayloan/namakan-arkanas.html
Liberty Group LLC
I have discovered Liberty Group LLC is not licenced in the State of Illinois. They are expressly violating the Payday Loan Reform Act of 2005. We bank at Wood Forest and they seem incredibly helpful. We'll see how it goes.
This site has been very helpful and informative. Hopefully we caught this before we paid $100's more. Right now, we borrowed $200 and paid back $240. We were paying $30 per $100 borrowed, however the PLRA only allows $15.50 per $100 borrowed. Since I only have a FAX # I'm going to send them a letter. Since this company is not legitimate, are they going to strongarm us? We have to live like marked people? They know were we live and work. We are now terrified!
:confused::confused::confused:
You are going to need to close your bank account. That is the o
You are going to need to close your bank account. That is the only way to keep them from accessing your money. Your absolutely right, they have all of your personal information and they don't mind selling it, or stealing it. I had that happen to me. Although, I am not afraid of these idiots, they have made my life a living hell. They even managed to found out my company master card number and made fraudulent charges. Imagine, how I felt having to tell my employer I'm been a victim of identity theft. I'm a very private person, and for these creeps to invade my place of employment is wrong. I regret every being involved with PDL's and I know at some point this will all be resolved.
If this company isn't legal in your State, do what Buzzette says
If this company isn't legal in your State, do what Buzzette says and get that checking account closed, otherwise they'll try to get whatever money they can from that account. File complaints with your State Atty. Generals Office and Financial regulatory agency, too. They WILL try strong-arming you, but you're only morally obligated to pay the original amount of the loan, no matter what they say (and unfortunately, they'll say plenty, use all kinds of quasi-legal terms, etc). Please don't be terrified; if you have questions on anything they say, this is the place to ask.