logo

Debtconsolidationcare.com - the USA consumer forum

Forums
  • Latest topic

Pay Day Loan Help with Red Stone!

Date: Mon, 04/02/2012 - 21:50

Submitted by mnlobster
on Mon, 04/02/2012 - 21:50

Posts: Credits: [Donate]

Total Replies: 5


Hi! In August I took out a $300 loan with Red Stone Cash. Every two weeks since then, I have paid $100. The amount on the website shows that I owe $405 still, but I have paid more than that :( I have some questions. 1.) Are they legal in MN? 2.) Do I still need to keep paying them and what do I do??? I would appreciate any and all help. :shock:


You should contact with Minnesota Department of Commerce in order to know whether or not Red Stone Cash is licensed in your state. If they are legal, then you are required to pay them both the principal and interest. But you can get rid of the debt by paying back only the principal to the illegal lender.


lrhall41

Submitted by Tyler on Mon, 04/02/2012 - 22:32

( Posts: 269 | Credits: )


Red Stone Cash is an illegal tribal lender owned by the Cheyenne River Sioux tribe. Shut down your present bank account and open a new account making sure that it is in no way linked to the account which you close. In case you have already paid back the principal loan amount, you don't need to pay them a dime more. If you have overpaid them, ask for a refund. If they don't play ball, file a complaint with the AG.


lrhall41

Submitted by StevenDoyle on Mon, 04/02/2012 - 23:14

( Posts: 199 | Credits: )


steven is right to a point,but i file AG,AND FTC complaints as the FTC is investigating a few tribal lenders as we are posting so while you don't owe and should close the account.file the complaints.don't wait for them to fight you(because they will)be proactive in this case.as for spaceblank.i give up.


lrhall41

Submitted by paulmergel on Tue, 04/03/2012 - 05:32

( Posts: 15514 | Credits: )


I actually called Red Stone today and explained to them that I will no longer pay them any more money, since I have paid them well over $1000 on a $400 loan. The gentleman on the phone told me that I should log into my account with them tomorrow and it will show a zero balance. I am still going to close my account and open a new one just to be safe. Thank you everyone who contributes to this site. .it has really helped me!:p


lrhall41

Submitted by mnlobster on Tue, 04/03/2012 - 18:32

( Posts: | Credits: )


Did it work for you? Did they revise your account to show no balance. I also have a loan with them and just calculated that I have overpaid the principal by $860!!! I am trying to clear up the loans I have and am using a letter to email that I found on this website, but they only have a PO Box and phone number.

So far I have received two replies to emails I have sent. One from VIN Captial. They disagree that it is illegal, however, they are accepting my offer to send a money order for $30 to pay off loan.

Also, Mountain Lake, I received a phone message that was actually very nice and then an email asking me to call and discuss. I am sending another email with same information.

I haven't heard back yet from USFastcash or United, but have just sent my emails. I have Restone, Beacon and PDLnow all to send - all of which would owe me a refund.

I will be so happy just to have this all behind me. Thank you to everyone on this site for the helpful information. Just curious, do any of the companies every really send the refund?

I do have one other question regarding a previous payday loan which was paid off. It was extremely overpaid on the principal, but it was paid off. I have another loan with them now. Any chance of getting them to transfer over some of the overpayment or to send me the overpayment for the 'closed' loan?


lrhall41

Submitted by on Wed, 07/18/2012 - 16:26

( Posts: | Credits: )