(hopefully) some useful info
Date: Fri, 10/17/2008 - 13:05
I compiled a few useful info I received from the debt settlement company I am client of (most of it you may already know)
In recent weeks, five companies – 500FastCash, ameriloan, One Click Cash, UnitedCashLoans and Ameriloan – have been sending out an alarming e-mails. Mr. Tucker (owner of these companies) and his companies are not licensed and their lending model (where the Miami Tribe of Eastern Oklahoma rents out its charter and claims to be the real lender) has not been recognized as legal in any jurisdiction. To the contrary, Mr. Tucker and his companies are the subjects of lawsuits, regulatory actions and investigations in several states. We encourage you to either ignore this e-mail or, if this type of harassment continues, file complaints against these companies with your state attorney general and banking authorities.
If a creditor tries to call you or your fellow associates at work tell them it is against the law for them to call you at your place of business and if the call again you will file a complaint against them with the Attorney General office
A number of our clients have expressed concerns about e-mails they have received from various payday lenders. In some cases, there is a human hand behind the e-mail and may include illegal threats, coarse language and other forms of harassment. When this occurs, take all appropriate actions - both directly with the lenders and through regulatory authorities - to combat such abuse.
But this is a tiny minority of the e-mails that payday loan customers receive. Most internet-based payday lenders are highly automated. They have a few live people working - as we all know from collectors' calls - but most of the work is done by their computer systems. A by product of this is a constant barrage of automatically generated e-mails, especially once an account has gone into default.
What occurs is that a calendar in the lenders' systems counts a certain number of days following a failed payment and then automatically generates an e-mail directed to you. This e-mail may contain your name, social security number and loan information, but these are simply "fields" in a template that are automatically filled-out with data in your loan file. Then, after a pre-set period of time follows that e-mail and no payment is received another e-mail goes out. Again this is usually from an automatically generated template.
Unfortunately, there is little to be done about automated e-mails. The Fair Debt Collection Practices Act only applies to third party collectors, so an original creditor does not violate the act by contacting its client. There is an existing business relationship - albeit a strained one - so such e-mails are not considered SPAM. And automatic e-mails rarely contain the type of abusive content that constitutes criminal harassment.
In recent weeks, five companies – 500FastCash, ameriloan, One Click Cash, UnitedCashLoans and Ameriloan – have been sending out an alarming e-mails. Mr. Tucker (owner of these companies) and his companies are not licensed and their lending model (where the Miami Tribe of Eastern Oklahoma rents out its charter and claims to be the real lender) has not been recognized as legal in any jurisdiction. To the contrary, Mr. Tucker and his companies are the subjects of lawsuits, regulatory actions and investigations in several states. We encourage you to either ignore this e-mail or, if this type of harassment continues, file complaints against these companies with your state attorney general and banking authorities.
If a creditor tries to call you or your fellow associates at work tell them it is against the law for them to call you at your place of business and if the call again you will file a complaint against them with the Attorney General office
A number of our clients have expressed concerns about e-mails they have received from various payday lenders. In some cases, there is a human hand behind the e-mail and may include illegal threats, coarse language and other forms of harassment. When this occurs, take all appropriate actions - both directly with the lenders and through regulatory authorities - to combat such abuse.
But this is a tiny minority of the e-mails that payday loan customers receive. Most internet-based payday lenders are highly automated. They have a few live people working - as we all know from collectors' calls - but most of the work is done by their computer systems. A by product of this is a constant barrage of automatically generated e-mails, especially once an account has gone into default.
What occurs is that a calendar in the lenders' systems counts a certain number of days following a failed payment and then automatically generates an e-mail directed to you. This e-mail may contain your name, social security number and loan information, but these are simply "fields" in a template that are automatically filled-out with data in your loan file. Then, after a pre-set period of time follows that e-mail and no payment is received another e-mail goes out. Again this is usually from an automatically generated template.
Unfortunately, there is little to be done about automated e-mails. The Fair Debt Collection Practices Act only applies to third party collectors, so an original creditor does not violate the act by contacting its client. There is an existing business relationship - albeit a strained one - so such e-mails are not considered SPAM. And automatic e-mails rarely contain the type of abusive content that constitutes criminal harassment.
One Click Cash and United Cash
these are the jokers that are trying to charge me $280 over what I originally borrowed per loan to pay back. They also send me random letters stating I agreed to this or that when I did not - what should I do
Which jokers are you talking about, Hannah - the pdl's or the se
Which jokers are you talking about, Hannah - the pdl's or the settlement company?