Getting overpayment back
Date: Tue, 03/27/2012 - 12:18
Unfortunately, stupidly, I took out a loan with United Cash Loans. The loan was for $650, and I have paid them $120 over that amount. I live in Illinois, where I have since found out they are operating illegally. Thanks to the sound, sage advice I found in these forums, I have worked with my bank to close and open another (unlinked) account, have sent letters to UCL, and have filed the appropriate letters of complaint. Other than a couple of calls from the "collection agency" in which they said they were going to mark me as "unwilling to pay," I have heard nothing back from UCL. My bank suggested that I file fraud charges, and that they will get the money back. When I contacted the fraud department, they said that they would "probably" need something in writing in order to do this. My question is, what should this be? Any suggestions would be appreciated.
Thanks in advance,
Johann
Generally you have to sign an affidavit of fraud. You could als
Generally you have to sign an affidavit of fraud. You could also supply the bank with a printout of your state's laws regarding payday loans so they can clearly see that the lender is illegal and any contract you have/had with the lender is void and unenforceable.
Since your lender is illegal, you are required to pay them only
Since your lender is illegal, you are required to pay them only the principal amount. Ask them for the refund as you have overpaid them. Look at this page to know how to deal with illegal lenders:
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
You can also ask the Illinois Division of Financial Institutions
You can also ask the Illinois Division of Financial Institutions for a letter to prove that the lender is unlicensed and therefore illegal in the state of Illinois.
actually
steven's post was the one.not spaceblank's...this time,but do agree reading the entire post is key when advising someone.
Thank you all for your responses. Sorry for the delay in follow
Thank you all for your responses. Sorry for the delay in following-up. I will try these great suggestions tomorrow. I'll let you know what happens.
Thanks again!
No, it was spaceblank who didn't read. Stephen's advice was fin
No, it was spaceblank who didn't read. Stephen's advice was fine. Spacey, on the offered advice telling the OP to take steps that the OP had obviously already done. If s/he had read the post, s/he would've known that!
But now, spacecadet continues to post her/his cut and paste answers that, 80% of the time have nothing to offer the OP. Or, my personal favorite is when s/he posts "I don't know but I'm sure someone will be along who does." :rolleyes:
It's BS that s/he's allowed to continue collecting points for ridiculous "answers" like that.
But what do I know? :wink:
point made
you are right.spaceblank's post was useless,but being in IL myself i still say stevens advice was useless too.yes the OP already knows UCL is tribal and illegal.asking for a letter proving that when it's already been established is a waste of time,and effort.both have done this before.posting useless info and me,you,and soaplady have posted rebuttals to both in various threads.hated to get off track,but both of them need help in what they post.
Good news!
Actually, Stevemergel, the "already established" statement isn't far off. A person from Illinois financial regulation suggested that I just explain to my bank's fraud department. I called, and sure enough, the person was familiar with UCL, and had helped other customers before. They are sending out a letter which I am to sign and return to my branch. As soon as they receive it, they will provide me with a provisional credit. I'll let you know if there are any hiccups. Thanks again for the help!