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I received an e-mail from United Cash Loans

Date: Tue, 04/11/2006 - 17:01

Submitted by Cow & Chicken
on Tue, 04/11/2006 - 17:01

Posts: 3571 Credits: [Donate]

Total Replies: 10


Quote:
I am writing in response to the e-mail that you sent me regarding my account being in default with your company. I have sent previous correspondence by mail, fax, and e-mail . It was sent via certified mail with return receipt requested, therefore I do have proof that it was received by your company a couple of months ago. It has come to my attention that you are not licensed in the State of Ohio to loan money. This is an illegal activity in my state. I have also come to find out that you are not licensed in Oklahoma or Nevada, two states you have claimed in the past to be doing business from.

In Ohio, you must be licensed and/or registered with the Ohio Division of Financial Instititutions in order to loan money to any Ohio consumer. Upon further research, I have discovered that United Cash Loans nor any affiliate of United Cash Loans is licensed in my state to loan money. The Divsion of Financial Insititutions oversees the Ohio Check Cashing Loan Act, where it is clearly stated that you MUST BE LICENSED. I have sent this to your company before with no response.

According to the payday loans in my state, there is a $5 loan origination fee for every $50 borrowed, plus 5 % interest per month. Your company has clearly overcharged me in fees according to state law. Please find a brief overview of Ohio State Laws following this paragraph.

Check Casher Lenders

The Division regulates check-casher lenders pursuant to Sections 1315.35 to 1315.44 and 1315.99 of the Ohio Revised Code.

Licensing

A person wishing to become a check casher lender must already be licensed as a check casher and must submit an application, a fingerprint card, a license fee and a nonrefundable investigation fee. The Division must investigate the financial condition, responsibility, character and general fitness of the applicant, including a criminal background check. The applicant must have a net worth of at least one hundred thousand dollars.

Licenses may be renewed annually by filing a renewal application and paying an annual licensing fee. Each check cashing loan business must be individually licensed. If an office is to be relocated, the licensee must obtain a new license from the Division prior to conducting business at the new location.

Compliance

Licensees must comply with specific recordkeeping, advertising and business practices as outlined by statute or rule. For example, all check cashing loan business locations must be licensed, the check cashing loan license must be conspicuously displayed, the loan origination fees and interest charges may not exceed specified amounts, customers must receive written loan agreements, loans may not be renewed, no person may have more than one outstanding loan with a particular check cashing loan business at any one time and certain records must be maintained for two years.

The Division can investigate licensees, including issuing subpoenas, to ensure compliance with the law. The Division may revoke or suspend a license subject to the Administrative Procedures Act.

Therefore, I am seeking a refund in the amount of the $400 that you are requesting from me since this is an illegal transaction. You have received payments through T&C, my debt consolidation company that I was previously working with. It is clear that you have overcharged me during my entire relationship with your company. I consider myself a good customer previous to this loan default. Under Ohio Law, I am able to sue you for deceptive practices, which I believe this is and it has been confirmed by my legal counsel.

Since you have not validated any previous request of mine, I expect affirmative action within twenty-fours hours of this e-mail. If the refund cannot be provided to me and my account updated as paid in full, then I will seek assitance from my legal counsel and file suit against your company. I will also file complaints with but not limited to: The Better Business Bureau, The Federal Trade Commission, The Offices of the Attorney General in Ohio, Nevada, and Oklahoma, The Ohio Division of Financial Institutions, The Nevada Division of Financial Institutions, and any bank commissioner's office this situation would apply to.


I received an e-mail from United Cash Loans this evening. This was out of the blue. I had cut bait with them a couple of months ago after I sent a letter to them asking for license information, etc etc,. Since they did not respond to it, I just severed ties with them and released them from my debt consolidation program.

So this is my response to their e-mail. I hope I sent it to the right e-mail address. We'll see if it comes back. It was a basic letter stating they had not received payment from me and I owed $400. Good luck getting that from me so I asked for a $400 refund.


I had already sent the e-mail off so I will wait and see if I here from them. If not, then I will resend the e-mail with the links or tell them to contact the ohio division themselves. I know they have been silent this whole time and now it's out of the blue. The letter could have been better but I constructed it rather quickly last night. I had sent them one of my nastry grams a couple of months ago via certified mail so I know they got it. I have sent previous e-mails and faxes as well, have proof of those too. If they are contacting people, it sounds like they are in some kind of trouble. I think it just might be time to file complaints against this company :evil:


lrhall41

Submitted by Cow & Chicken on Wed, 04/12/2006 - 03:16

( Posts: 3571 | Credits: )


I agree with you. I've been working on some stuff with my bank statements from the last 15 months and it's totally unbelieveable how much we've paid in fees for some very small loans. We screwed up but how can these places believe they should charge people so much money for a $250 or $300 loan.


lrhall41

Submitted by CycloneFan on Wed, 04/12/2006 - 06:33

( Posts: 1155 | Credits: )


Hi, it's Mishele, I'm having problems logging in for some reason. Well, I got a copy of polly's letter that I will change for my purposes and fax it off to them in the next couple of days. We'll see how that goes, but I do want a refund. I've paid them way too much money.


lrhall41

Submitted by on Thu, 04/13/2006 - 16:43

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