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VIP loan shop issue

Date: Tue, 05/28/2013 - 15:47

Submitted by anonymous
on Tue, 05/28/2013 - 15:47

Posts: 202330 Credits: [Donate]

Total Replies: 4


Resident I MA, took 3 loans out all 3 for $500 first 2 paid back in full on time for $650 each, last one I was unable to pay tried to set up payment plan told me they don't do that so I closed account. Called to make payments said I now owe $850.00. I understand they are illegally lending but don't know what to do or what my rights are. Wonder if anyone has done this with Another lender who operate illegally.


Lots of people have. Follow the link in my signature line for information on how to deal with them. ALL payday loans are prohibited in MA....you owe principal only...no fees no interest.


lrhall41

Submitted by SOAPLADY on Tue, 05/28/2013 - 17:47

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VIP loan shop is an illegal payday loan company. Plus, payday loan business is prohibited in MA. You have paid more than the principal amount on the 2 loans. Send a letter to the payday loan company and ask them to return $300 to you. As far as the last one is concerned, how much have you paid back in total?


lrhall41

Submitted by Good Nelly on Tue, 05/28/2013 - 21:18

( Posts: 2846 | Credits: )


I agree with Nelly. You should ask them for the refund as you have already paid them more than the principal. Close down your old bank account and open a new one to stop debiting money from your account. Don’t worry mate…they can’t do anything.


lrhall41

Submitted by anonymous on Tue, 05/28/2013 - 21:47

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vip is nasty i have a $500 loan with them. closed account when i found out pay day lending was prohibited in mass where i live too thanks to this forum. they wouldnt agree to my terms and sent it to collections. i was getting harassing calls and they even threatned my family. i called local police who called them and the collections guy told police they would send a debt validation letter to me right away and that was 6 weeks ago amd never got a thing from them. so they are full of crap. i pushed back harder then they did and shut up. dont let them scare you it gets scaru at first but its all a tactic.


lrhall41

Submitted by Singlemom on Sat, 06/01/2013 - 08:25

( Posts: 104 | Credits: )