US Fast Cash/United Cash Loans
Date: Thu, 05/11/2006 - 10:08
Quote:
The fast-cash industry provides cash advances to customers who meet certain criteria and allows them to borrow money today by issuing a check that won't be cashed for a designated time period.
Fees charged by cash-advance businesses are capped at 15% or $30, which ever is less.
No more than $500 can be advanced to a customer at any one time by all cash-advance outlets combined.
A check can be held for no more than 31 days.
A customer can have no more than two checks outstanding to any cash-advance business.
The company must provide a written explanation of the transaction in clear, understandable language, as well as the date when the check will be deposited.
"Flipping," or giving a customer more time to repay the loan in return for another fee, is prohibited.
Companies that violate the law can be fined up to $1,000 for each transaction and for each day a violation continues. They can be forced to make refunds. If you feel a company is in violation you should contact the Tennessee Department of Financial Institutions for review.
Cash-Advance loan companies should not be confused with the "Title Pawn" companies, the above regulations apply to the cash-advance loan companies only.
Always, read completely and understand any document or contractual agreement, BEFORE signing.
Let's hope that Fast Cash and UCL follow this new set of rules a
Let's hope that Fast Cash and UCL follow this new set of rules and gets their act together.
They won't. I guess the heat was coming down around them, so th
They won't. I guess the heat was coming down around them, so they moved here. UCL has violated this statute, more than once.
I just can't understand why, after this statue was put in place
I just can't understand why, after this statue was put in place right under their noses, knowing full well how much violations will cost them in fees, these companies must be staffed with people who can't read.
Tammy, are you saying that UCL is claiming to be in Tennessee n
Tammy,
are you saying that UCL is claiming to be in Tennessee now?
Is the office on wheels? Did it just up and move to Tennessee on
Is the office on wheels? Did it just up and move to Tennessee on a whim? I wonder if they realize that Tennessee had consumer affairs laws just like everywhere else.
When I was looking something up on US Fast Cash this is what cam
When I was looking something up on US Fast Cash this is what came up on the bbb site. It has a question mark where the street address goes then under that it says Nashville, TN. It shows file open February 2006. I don't think they care about the laws. They have proven that. Tennessee don't take lightly to these cash places violating the laws. Just ask the employes of Check into Cash in Cleveland, TN. They were caught charging higher interest than allowed.
Wow, from Nevada to Oklahoma to Tennesse that fast huh? I wonde
Wow, from Nevada to Oklahoma to Tennesse that fast huh? I wonder if they have so called offices in all three states then or if they are just trying to avoid the law by moving around a lot. Either way they are not legitimate companies, just leaches who rip people off.
US Fast Cash
Does anyone have an address for US Fast Cash? Under this name I did not find a license in Tennessee. Did anyone else?//