Help needed gateway recovery/money and more

Was this a store front lender (Money & More) or an Internet lender?

It would have been an Internet Loan, The only storefront loan I ever had was in Wisconsin from a company called Speedy Loan and they have been paid off for a few years now. In searching some records on this site I think they may be located in California, I think. But Yes it would have been an Internet Loan.

It is a scam, many many people have received similar calls from that very same number, with various threats of the same nature. They are NOT listed as a licensed lender in your state, and payday lenders are required to be licensed in your state. Next time they call, tell them they are required by federal law to send you a letter of collection via the mail per the FDCPA, within 5 days of their first initial contact with you, then hang up and don't speak to them again. If they call, don't answer it, they aren't legit.

Thanks for the info, I did ask the guy from Gateway to send me verification and gave him my current address, so if they are ligit maybe they will send it and I can get their address to send them a certified letter telling them they got no case :) I was a little worried it was legit cause he had all my info like an old address, and my social security number and my Driver's license number, and knew what bank account I had at the time, which was info you give when you apply for those loans so I guess once you put it out there it can fall into anyone's hands, but I never admitted to owing anything and I dont pay anything over the phone mail only. Thanks for the info Shazzers

I am glad you were wise enough not to fall for it! Take good care!

In investigating Money &More I found out that they are a storefront lender who have several locations in CA, in April of this year the owner Gale Robertson and a few others had been arrested for Felony Fraud for operating a ponzi sceme by getting invesotrs to buy into Money and More any way thought this might be the reason I got that phone call from Gateway they might be hard up for cash and are using info they find to obtain the millions they are charged with stealing from invesors in their payday loan sceme. Just thought this would be usefull info in case anyone else recives a phone call from Money and More or any colleciton agency claiming to represent them. From the Salt Lake Tribue ( one of the parties involved was from Utah) Article titled 5 charged in payday lending sceme 4/23/10 http://www.sltrib.com/news/ci_14947208?source=rss

Wow, thanks for posting this information, please make sure you file complaints with the FTC and BBB.

I too recieved a call from them and said I owed 500.00 dollars. I do owe them 100.00 but that was there fault they never took it out of my banking account. They also called my daughter and told her she owed 500.00 and she paid back everytime she borrowed from money and more. This makes me think that they are very illegal...

I just read the rest of the thread and thanks for the info I feel so much better. I thought it was funny that they kept hanging up on me. They would offer a certain amount to pay and I just told them take me to court I have nothing to lose. They also said they would garnish my wages. I live in Texas. Wait until they call me back :)

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I didnt think they could in Texas but wasnt sure so thanks....

I took 4 loans from this co. every one has come to me in collections. they were all direct deposits and debits I am fed up. These loans are three years old.

If the SOL period is not over, then the collection agency can take legal actions in order to recover their dues. However, they the payday lender was illegal in your state, then the CA won't be able to enforce any actions against you.